Answered step by step
Verified Expert Solution
Question
1 Approved Answer
9. The MBS Casting Sdn Bhd is a locally incorporated company (the company) engaged in the manufacture of cast iron products. It closes its accounts
9. The MBS Casting Sdn Bhd is a locally incorporated company (the company) engaged in the manufacture of cast iron products. It closes its accounts to 30 June each year. During the year 2011, it embarked on the construction of its own industrial building in Seremban, and incurred the following expenditure: Particulars of expenditure RM Cost of land 216,424 Legal fee for transfer of land 21,642 Clearing of land 81.159 Cutting and leveling land 48,696 Excavation and preparation of site for construction 43.826 Piling and foundation works 78.454 Construction of building 194.782 Construction of perimeter wall 18,937 Architect fee-building design 75.749 Legal services for obtaining various building approval 35.169 Subcontract charges for installation of wiring and plumbing 40,038 Landscaping charges 43.285 Total 898,161 The building was completed in early May 2010 and was brought into use on September 2010. Determine the qualifying building expenditure for MBS Casting Sdn Bhd year of assessment 2011 (6)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started