User Account

All Pages

Evaluate zaid is eligible to claim capital allowances on van

Assignment Help Accounting Basics
Reference no: EM132762766

Question: Sarimah operates a restaurant. In order to expand her restaurant business, she needs a van but does not have sufficient funds to buy one. Sarimah's brother, Zaid, runs a profitable grocery store business and Sarimah has asked him to buy her a van. Zaid will pay for the van in cash and he will be responsible for the maintenance of the van. The van will be registered in Sarimah's name and will be used in Sarimah's restaurant business. The van will not be used in Zaid's grocery store business.

Required: Evaluate whether (1) Sarimah or (2) Zaid is eligible to claim capital allowances on the van.

Reference no: EM132762766

Questions Cloud

Design And Analysis Of Algorithms : What is the maximum number of comparisons your algorithm makes if the lengths of the two given lists are m and n, respectively?
Prepare the journal entry for year ended december : Prepare the journal entry(s) for year ended 12/31/22(i.e. end of the second year), if any, associated with this sale of equipment.
How is international business and trade related : How is International Business and Trade (Global Marketing) related to your future career as an accountant? How would you expect yourself to come into contact.
Find what is best estimate of company net operating income : Jilk Inc.'s contribution margin ratio is 61% and its fixed, what is the best estimate of the company's net operating income in a month when sales are $137,000?
Evaluate zaid is eligible to claim capital allowances on van : Sarimah operates a restaurant. In order to expand her restaurant business, she needs a van but does not have sufficient funds to buy one. Sarimah's brother.
Role of the project manager and sponsor : Discuss what went right and wrong on the project and the role of the project manager and sponsor.
Why are costs of plant assets recovered through depreciation : Why are the costs of plant/long term assets recovered through depreciation vs. expensed out during the period purchased? how depreciation using this method
What should the total provision be : What should the total provision be? At its year end, 31 December 2019, Ake Ltd is battling a continuing (as yet unsettled) court case.
Prepare the memo requested by the audit partner : You have completed the audit of Dulwich Pty Ltd (Dulwich), a medium sized distributor of fuel to the aviation industry, and are about to prepare the audit.

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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