BBFT 2013PY January2019.docx - BBFT2013 PY 25January 2019 Suggested Answer to Question 1a BBFT 2013PY 2019 RM 000 638 Nil Nil Nil 615 200 Nil Profit

BBFT 2013PY January2019.docx - BBFT2013 PY 25January 2019...

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BBFT2013 PY 25January 2019 Suggested Answer to Question 1a BBFT 2013PY 2019 Profit before taxation Salaries and wages Rental of office Water and electricity Depreciation Provision for Warranty Obsolete stocks written of Gain from sale of machinery Interest receivable from trade receivables Unrealised foreign exchange gain for raw materials Rebuilding of retaining wall Replacement of broken tiles Repainting of office building Leave passage for managing director to Australia Annual company trip to Cameron Highlands for employees Business trip to Indonesia General allowance for trade receivables Specific allowance for non trade receivables Trade debts written of with legal action Bad debts recovered non trade Cash donations to approved institutions Cash donations to public libraries 130-100 Donations of computers to approved institutions Research and Development expenditure Adjusted income Less Balancing allowance 53 Current year capital allowance 165 Current year industrial building allowance 215 Statutory income from business Interest income Aggregate income Less Cash donation to approved institutions Total income Tax payable 1,193 X 24% = 286.32 RM 000 + 638 Nil Nil Nil 615 200 Nil 100 Nil Nil 20 Nil Nil 40 15 Nil 200 30 70 1,928 117 1,811 433 1,378 15 1,393 200 1,193 RM 000 - 20 15 30 12 40 117
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Suggested answer to question 1b Leave passage is not allowable expense under S39(1)(m) of the ITA 1967
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