Advanced Taxation

HELP ASAP. TQ.

UUES QUESTION 2: Koperasi Gunaria Bhd (KGB) was formed in 2011. The cooperative closes it accounts on 31 December each year and the following account is for the year ended 31 December 2020. CHON Koperasi Gunaria Bhd Statement of Comprehensive Income for the year ended 31 December 2020 RM Sales Less: Cost of goods sold Gross profit Less: Expenses Revenue expenses 126,099 Donations 12,193 Depreciation 821 Business zakat 4,065 143,178 Audited net profit 147,369 RM 440,975 150,428 290,547 Less: Interest on members' savings Dividend paid to members Contribution to co-op trust fund Transfer to statutory reserve fund Net profit 1,109 3,695 4,434 10,345 19,583 127.786 Additional information: 1. The approved capital allowance for the year of assessment 2020 is RM2,700. 2. Donation was made to an approved charitable institution and the business zakat was paid the Kedah State Zakat Department. 3. Details of the members' fund as at 1 January 2020 as below: Paid up share capital RM450,000 Subscribed capital RM120,000 Share premium account RM55,150 220 Reserve from revaluation of land Statutory reserve fund Retained earnings RM60,000 RM48,000 RM88.520 RM821,670 REQUIRED: Compute the chargeable income of Koperasi Gunaria Bhd (KGB) for the year of assessment 2020. UUES QUESTION 2: Koperasi Gunaria Bhd (KGB) was formed in 2011. The cooperative closes it accounts on 31 December each year and the following account is for the year ended 31 December 2020. CHON Koperasi Gunaria Bhd Statement of Comprehensive Income for the year ended 31 December 2020 RM Sales Less: Cost of goods sold Gross profit Less: Expenses Revenue expenses 126,099 Donations 12,193 Depreciation 821 Business zakat 4,065 143,178 Audited net profit 147,369 RM 440,975 150,428 290,547 Less: Interest on members' savings Dividend paid to members Contribution to co-op trust fund Transfer to statutory reserve fund Net profit 1,109 3,695 4,434 10,345 19,583 127.786 Additional information: 1. The approved capital allowance for the year of assessment 2020 is RM2,700. 2. Donation was made to an approved charitable institution and the business zakat was paid the Kedah State Zakat Department. 3. Details of the members' fund as at 1 January 2020 as below: Paid up share capital RM450,000 Subscribed capital RM120,000 Share premium account RM55,150 220 Reserve from revaluation of land Statutory reserve fund Retained earnings RM60,000 RM48,000 RM88.520 RM821,670 REQUIRED: Compute the chargeable income of Koperasi Gunaria Bhd (KGB) for the year of assessment 2020