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I NEED FULL ANSWER STEP BY STEPTax for Partnership in Malaysia Question 2 Yana, Yani and Yanu are sisters and they own a partnership name
I NEED FULL ANSWER STEP BY STEPTax for Partnership in Malaysia
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Yana, Yani and Yanu are sisters and they own a partnership name Yan Sisters Enterprise.
Below is the information of the partnership:
Profit sharing ratio is based on the percentage of the total capital contribution. Below is the
Statement of Financial Performance of the partnership for the year ended December
:
Incomes
RM
Less:
Net profit
Additional information:
i Include in marketing and administration expenses is rental of partner's house
personal cost RM
ii Capital allowance for the current year of assessment was RM
iii Other incomes by the partners in are Yana RM Yani RM and
Yanu RM
iv Personal relief for each partner as follows; Yana RM Yani RM and
Yanu RM
Required:
a Compute the divisible income of the partnership for YA
b Compute the chargeable income of each partner for YA
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