Question 2 a) Below listed are some of the common expenses incurred by businesses in various industries. State with reason(s) whether each of the mentioned expenses is deductible for corporate tax purposes. a) Provision for warranty claims charged to profit and loss account by an electrical appliances manufacturer. [4 Marks) b) Expenses incurred by a company for holding a Family Day" for the staffs and their families [4 Marks] c) Fines imposed on a transport company for repeated offences of overloading. Such practice is necessary to increase the profitability of the company. [4 Marks b) YKY provided the following information regarding the residential property for the year ended 31 Dec 2015 Receipts RM RM Rental: Jan - March 16,000 April-May June - December 24,000 Deposit (refundable) 26,000 Deposit for electricity, water & telephone 4.000 70,000 Payments Deposit refunded to ex-tenant 4,000 Assessment 4,200 Quit rent for 2014 - RM390 2015 - RM390 780 Interest on loan (Jan-Dec) 8,010 Penalty for late payment of quit rent 160 Repairs (carried out in May) Repainting 2,650 Renovation to kitchen & bathroom 7,660 Replacement of damaged tiles 3,750 Installation of air-conditioning unit 1.150 (32.360) Net Rental 37,640 Calculate the adjusted income from rental source of YKY. Explain your answers for any tax adjustment made for the YA2015. (13 marks)