Jhope Sdn Bhd has been operating as a manufacturer of antique furniture since 1887. The paid-up...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Jhope Sdn Bhd has been operating as a manufacturer of antique furniture since 1887. The paid-up capital as at 1.9.2021 is RM2 million. For the year ended 31.8.2022, the company submitted the following information: Particulars Business 1 - Manufacturing Adjusted loss Balancing charge Capital allowances - current year Unabsorbed capital allowance b/f Business 2 trading Gross income Expenditure (inclusive of donations to approved charitable institutions of RM3,000 and depreciation of RM8,000) Unabsorbed loss b/f Capital allowances - current year Balancing allowance Rental income Interest income Required: Compute the income tax payable for the YA 2022 Year ended 31.8.2022 RM (2,500) 10,000 5,000 1,500 90,000 60,000 (1,800) 65,000 4,000 6,000 3,000 Jhope Sdn Bhd has been operating as a manufacturer of antique furniture since 1887. The paid-up capital as at 1.9.2021 is RM2 million. For the year ended 31.8.2022, the company submitted the following information: Particulars Business 1 - Manufacturing Adjusted loss Balancing charge Capital allowances - current year Unabsorbed capital allowance b/f Business 2 trading Gross income Expenditure (inclusive of donations to approved charitable institutions of RM3,000 and depreciation of RM8,000) Unabsorbed loss b/f Capital allowances - current year Balancing allowance Rental income Interest income Required: Compute the income tax payable for the YA 2022 Year ended 31.8.2022 RM (2,500) 10,000 5,000 1,500 90,000 60,000 (1,800) 65,000 4,000 6,000 3,000
Expert Answer:
Answer rating: 100% (QA)
To compute the income tax payable for the year of assessment YA 2022 we need to calculate the ... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
An analyst is making projections for a firm for fiscal year 2023. The analyst has the following information: In 2022, the firm's sales are 1000 (in thousands) and has an accumulated depreciation of...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
Since the early 1990s, woodstove sales have declined from 1,200,000 units per year to approximately 100,000 units per year. The decline has occurred because of (1) stringent new federal EPA...
-
Why is it fundamentally important that costs are correctly classified as either a product cost or a period cost? What is the financial outcome if costs are misclassified?
-
The burning rates of two different solid-fuel propellants used in aircrew escape systems are being studied. It is known that both propellants have approximately the same standard deviation of burning...
-
A bedroom bureau with a mass of 45 kg, including drawers and clothing, rests on the floor. (a) If the coefficient of static friction between the bureau and the floor is 0.45, what is the magnitude of...
-
Mulligan Co. purchased a new machine on January 1. The following information pertains to the purchase: Required a. Determine the capitalized cost of the new machine b. Compute annual depreciation,...
-
Best Parking, near an airport, incurred the following costs to acquire land, make land improvements, and construct and furnish a small building: Best Parking depreciates land improvements over 25...
-
if the annual property tax bill of $2,800 has not been paid as of settlement day on May 10, how much are the prorated taxes and how will this sum be assigned to the buyer and the seller? Use 365 days...
-
Chandler, Inc. is owned by Roscoe Chandler and provides appraisal services to individuals and companies wishing to purchase and sell fine art. Chandler, Inc. began business on January 1, 2016, and is...
-
Common stock value-Constant growth Personal Finance Problem Over the past 6 years, Elk County Telephone has paid the dividends shown in the following table, a. If you can earn 16% on similar-risk...
-
discuss Reinstate briefly, what your classmate has discussed Extend your classmate's posting with additional information If available, suggest alternatives to your classmate's opinion. The basic...
-
If f(x) = -2x+5 and g(x) = x-1, then f(-3)+g(2) =
-
Vanessa has an outstanding bond with a 7.10 % semi-annual coupon and has 16 years left to mature. The current market rate is 10.50% per annum. What is the current yield of Vanessa's Bond.
-
Gs of a sample is 2.65, porosity of 45% and void ratio of 21.3%. Draw a full phase diagram and solve using phase diagram. (20 points) a. Find Degree of Saturation b. Moist Unit Weight c. Dry Unit...
-
Company XYZ is considering investing in a new machine that will cost $15,000. The machine will allow the firm to generate sales of $50,000 per year. The machine has a useful life of three years....
-
Q6 Find the total amount for of the current balance for each underwriter and find out top 10 richest underwriter Q7 Create a pivot table for the entire data and find out the total current balance for...
-
The text defined intrinsic value as the value of an asset given a hypothetically complete understanding of the assets investment characteristics. Discuss why hypothetically is included in the...
-
Develop a ranking for corruption in the following countries: Mexico, Turkey, Denmark, the U.S., Taiwan, Brazil, and another country of your choice.
-
Draw an activity chart for changing the right rear tire on an automobile with: (a) Only one person working. (b) Two people working.
-
Clarkson Products, Inc., of Clarkson, New York, has the option of? (a) Proceeding immediately with production of a new top-of-the-line stereo TV that has just completed prototype testing. (b) Having...
-
Many choices involve _________ of something to do rather than whether to do something.
-
In acting rationally, people respond to _________.
-
Economists emphasize _________ thinking because the focus is on additional, or _________, choices, which involve the effects of _________ or _________ the current situation.
Study smarter with the SolutionInn App