B (2 marks) Sesegar Sdn Bhd is a soft drink manufacturer since year 2017. The company closes its account on 31 December

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B 2 Marks Sesegar Sdn Bhd Is A Soft Drink Manufacturer Since Year 2017 The Company Closes Its Account On 31 December 1 (67.33 KiB) Viewed 29 times

B (2 marks) Sesegar Sdn Bhd is a soft drink manufacturer since year 2017. The company closes its account on 31 December every year. On 1 March 2018, the company constructed a new factory since the demand of its products rose. Below were the capital expenditures incurred by the company for the construction of the factory: Cost of land Legal fees (10% related to acquisition of land) Demolition cost of old factory Cost of machinery (general) Cost of preparing and levelling the site to install the machinery Construction costs Total costs RM 800,000 30,000 120,000 250,000 400,000 1,200,000 2,800,000 The machinery was acquired on 1 June 2019. The construction of factory was completed and brought into use in August 2019. In September 2019, the company acquired a delivery van to deliver finished goods costing RM110,000 under a hire purchase term. The deposit of RM 11,000 was paid on 1 September 2019. A monthly instalment of RM1,000 was payable starting from 31 October 2019 for a period of 120 months. Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL 9 AC/SEP 2021/TAX267 Required: Compute the Schedule 3 of Income Tax Act 1967 allowances that can be claimed by Sesegar Sdn Bhd for all the relevant years up to the year of assessment 2020. (Round up your answer to the nearest Ringgit Malaysia) (12 marks)