Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
Question 7 : A O 0 k - 2 0 0 k = 6 0 0 k Kicap Maimun is a manufacturer in Jitra, Kedah
Question : Kicap Maimun is a manufacturer in Jitra, Kedah since The business started with one factory which was purchased for RM including RM cost of land. The building factory was purchased in and the production started in early Due to high demand of its products, Kicap Maimun decided to increase the production capacity and construct a new factory. The construction commenced in and was completed in December The new factory was brought into use in January The following expenditures were incurred throughout the construction period: tableExpenditureRMFeesefor changing the status of the land Legal charges related to loan application Legal fees for land acquisition Lawyers fees for the building,Architects fee for the design of the building,Interest on loan for construction purposes,Payment to local authority for approval of plan,Cost of clearing land Cost of cutting and leveling the land,Piling and foundation,Construction costWiring and electricity work,Drainage and plumbing,Water system and electrical works,Construction of perimeter wall fencing However, due to the Covid pandemic, the business decided to cease the production works in the old purchased building in March and sold the building to High Glove Bhd for a consideration of RM including RM cost of land.
Question :
Kicap Maimun is a manufacturer in Jitra, Kedah since The business started with one factory which was purchased for RM including RM cost of land. The building factory was purchased in and the production started in early
Due to high demand of its products, Kicap Maimun decided to increase the production capacity and construct a new factory. The construction commenced in and was completed in December The new factory was brought into use in January The following expenditures were incurred throughout the construction period:
tableExpenditureRMFeesefor changing the status of the land Legal charges related to loan application Legal fees for land acquisition Lawyers fees for the building,Architects fee for the design of the building,Interest on loan for construction purposes,Payment to local authority for approval of plan,Cost of clearing land Cost of cutting and leveling the land,Piling and foundation,Construction costWiring and electricity work,Drainage and plumbing,Water system and electrical works,Construction of perimeter wall fencing
However, due to the Covid pandemic, the business decided to cease the production works in the old purchased building in March and sold the building to High Glove Bhd for a consideration of RM including RM cost of land.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started