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Calculate the capital allowances for the company

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Question - PMY Sdn. Bhd. made up its account to 30 September, purchased a second hand motor-car under hire purchase for its business purposes in July 2016. The cash price of the motor-car was RM78,000. The company traded in its old car for RM24,000 and agreed to pay a monthly installment of RM3,500 for 18 months, commencing on 1 August 2016. The car was sold for RM39,000 on April 2010. Both, initial and annual allowances are 20%.

Required - Calculate the capital allowances (balancing charge or balancing allowance) for the company for the relevant year of assessment up to the year of assessment 2020.

Reference no: EM132854984

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