provided the following information regarding his residential property in Uptown for the year ended 31.12.2021. Receipts RM RM Rental: January March 6,000 April May -
provided the following information regarding his residential property in Uptown for the year ended 31.12.2021.
| Receipts | RM | RM | |
| Rental: |
|
| |
|
| January March |
| 6,000 |
|
| April May |
| - |
|
| June December |
| 14,000 |
| Deposit (refundable) |
| 4,000 | |
| Deposit for electricity, water and telephone |
| 3,000 | |
|
|
|
| 27,000 |
|
|
|
|
|
| Payments |
|
| |
| Deposit refunded to ex-tenant | 2,000 |
| |
| Assessment | 4,200 |
| |
| Quit rent for: |
|
| |
|
| 2020 | 390 |
|
|
| 2021 | 390 |
|
| Interest on loan (January December) | 2,844 |
| |
| Penalty for late payment of quit rent | 78 |
| |
| Repairs (carried out in April): |
|
| |
|
| Repainting | 2,650 |
|
|
| Renovation to kitchen | 5,860 |
|
|
| Replacement of damaged tiles | 3,750 |
|
|
| Installation of air-conditioning unit | 1,400 | (23,562) |
| Net rental |
| 3,438 | |
Required:
Calculate the adjusted income from rental source for YA 2021
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Authors: Michael H. Granof, Saleha B. Khumawala, Thad D. Calabrese
9th Edition
1119803896, 978-1119803898
