Question $7$

Musleh is the owner of Taqwa Enterprise, which engages in a Halal

meat slaughtering house in Malaysia. The business began in $2019$

to cater to local consumption. As a result of the aggressive business

efforts, Taqwa Enterprise managed to penetrate Japan market

beginning in September $2023.$ The income statement for the year

ended $31$ December $2023$ is as follows:Notes:

This includes $20$ percent sales to Japan market.

The cost of sale includes depreciation for plant and machinery of

RM$13,000.$

This rental income is derived from Musleh's shophouse.

The amount is paid according to the following ratios:

One of the employees is a disabled person. His monthly salary is

RM$1,200.$

This amount is payable for the lease of the slaughterhouse.The following ratio is used to ascertain the interest payable related to

the purchase of :

Repairs include the amount paid for:

This amount includes the provision for bad debt following the

business policy. It is the business policy to estimate a two percent

$(2\%)$ bad debt on local sales. Since this is the first year venturing into

the international market, the business has prudently made a provision

of five percent $(5\%)$ bad debt on total sales. Additionally, an amount

of RM$10,000$ is written off as bad debt since the debtor was declared

bankrupt and there are no assets from which the debt can be recovered.

The amount paid is related to:

This is the premium paid for the following insurance policies:The amount paid is related to:

Family day of Taqwa Enterprise

Dinner with bankers and suppliers

The amount paid is related to:

This leave passage is provided to the recipient of 'The Best Employee

of the Year' award to travel to Japan.

Additional information:

a$.$ During the year, Musleh took business stock at a market value

of RM$15,000$ for private purposes.

b$.$ An amount of RM$6,000$ which was previously written off as

bad debt was recovered during the year.

c$.$ For the year of assessment $2023,$ capital allowances for plant

and machinery used in the business amounted to RM$22,000.$

d$.$ Balancing allowance and capital allowance brought forward

from the previous year were RM$5,000$ and RM$4,000,$

respectively, while business loss brought forward was RM$8,000.$

e$.$ Musleh also owns a grocery business which made a loss in the

year assessment $2022$ for RM$20,000.$

REQUIRED:

Calculate the total income for Taqwa Enterprise for the year of

assessment $2023,$ showing all relevant tax adjustments.