Calculated the industrial building allowances

Assignment Help Accounting Basics
Reference no: EM133017464

Question - Mamak Trading constructed a factory at a cost of RM1.9 million of which RM700,000 was the land. The building was completed on 1 November 2014 and 1/8 of the building was used as an office. On 1 February 2019, the building was sold to Malim Jaya for RM3.1 million, including RM1 million for the land.

Malim Jaya used the whole building as a factory. An extension to the building costing RM120,000 was constructed by Malim Jaya on 2 May 2019. The extension was completed and brought into use as a warehouse for the storage of raw material for manufacturing. Both company close their accounts on 31 December annually.

Calculated the industrial building allowances for both companies for all the relevant years of assessment up to and including year of assessment 2020.

Reference no: EM133017464

Questions Cloud

Calculate the maintenance cost that would be budgeted : Calculate the maintenance cost that would be budgeted for a month in which 6,800 machine hours are planned to be used
What would the gain or loss on disposal be : If Ariel's Treasures Limited sells the printing press on January 1, 2024 for $4,500 what would the gain or loss on disposal be
How much is the ?rst and second year depreciation expense : Central Supply purchased a new printer for $2,000. How much is the ?rst and second year's depreciation expense
Calculate the firm cash conversion cycle : Spatnik (Pty) Ltd produces Nitrogen fertilizers for the majority of commercial farmers in South Africa. Calculate the firm cash conversion cycle
Calculated the industrial building allowances : Calculated the industrial building allowances for both companies for all the relevant years of assessment up to and including year of assessment 2020
What is the sustainable growth rate : Fortress of Solitude Co. expects an earnings per share of $1.95 and reinvests 35% of its earnings. What is the sustainable growth rate
What is the correct gross profit of the branch : On December 31, 2015, the branch continued to hold 45,000 of the units purchased from home office during 2019. What is the correct gross profit of the branch
Calculate effective annual interest of an investment : Calculate effective annual interest of an investment which pay 12.6 percent stated annual rate of interest compounded annually
What are the expected return and standard deviation : Expected returns of stock A and B are 15% and 21% respectively. What are the expected return and standard deviation of return of Mr. Martin's portfolio

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd