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How much is the balancing charge

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Q1. Korea Manufacturing purchased a boiler on 1 July 2018 and ends its accounts on 31 December every year. Below is the details of the purchased;

 

RM

Cost of asset

160k

Deposit paid

16k

Sum financed

144k

Terms of repayment

4.6K for 36 months

Calculate the Capital Allowance for Korea Manufacturing for YA 2019.

Q2. A person who intended to commence a business incurred a GE for acquiring machinery on 10 June 2020. The business starts on 1 October 2020. When is the capital expenditure is deemed to have been incurred?

Q3. Apex Ltd. sold its plant with a residual value of $10k for $18k. The total amount of CA claimed was $15K. how much is the balancing charge?

Reference no: EM133040238

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