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Question 3 (a) Khalisa Sdn. Bhd. is a successful vegetarian restaurant operator. It has been in business for a few years and closed its account
Question 3 (a) Khalisa Sdn. Bhd. is a successful vegetarian restaurant operator. It has been in business for a few years and closed its account on 30 September, every year. In 2019 it decided to venture downstream by selling spices and other raw materials for cooking and the new business commenced operations on 1 July. Required: Determine the basis period for the new and old business of Khalisa Sdn. Bhd. for YA 2019 and 2020. Support your answer with reasons. (10 marks) b) Alam Sdn. Bhd. own a four storey and a 6 storey buildings in Kajang. Both buildings were let out since 2018 and the income are treated as business source. The company also rented out one unit of residential house and unit of apartment in Sg. Long in the same year and treated the income as non-business. The gross income, allowable expense and capital allowance for the building for YA 2020 are as followus. G storey building Istorey building Residential house Apartment um: Cross Income 60.00 10.000 8.000 16.000 Allewable Expense 14.000 12.000 1000 4 ( UI Capital Allowance 7.000 3.000 Nil Nil Required Kalett: he stand geomet Alan Silo Bhd KS mark Total: 25 marks
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