Kenchana Sdn Bhd is a trading company. It commenced its business on 1 October 2019 and closes its account: Taxation Assignment, UTAR, Malaysia
|University||Universiti Tunku Abdul Rahman (UTAR)|
- Kenchana Sdn Bhd is a trading company. It commenced its business on 1 October 2019 and closes its account on 31 May each year. The following are assets owned by the company
The furniture was for personal use before it was brought for the company’s use on 1 March 2021. The market value and net book value of the furniture on that date were RM15,000 and RM11,500 respectively.
On 1 April 2020, a second-hand car (not for commercial use) was bought on hire purchase. The cash price of the car was RM130,000 and a deposit of RM30,000 was paid on 1 April 2020. The installment payment is RM2,700 per month for 40 months commencing from 1 April 2020. On 1 February 2022, the motor vehicle was sold for RM75,000.
- Sri Setia Sdn Bhd is a manufacturing company, that commenced its business on 1 August 2018 and made up its accounts to 31 December annually. The company bought a piece of land in November 2018 for RM3,000,000 for the purpose of constructing a new factory. A legal fee of RM32,000 was incurred on the Sale and Purchase Agreement of the land. A few months later, an old factory situated on the land was demolished at the cost of RM250,000. The construction commenced in March 2019 with the following costs:
The construction was completed and put into use in June 2020. The management of the company agreed that the built-up area of the building was allocated for the following purposes:
Due to the expansion of the business, Sri Setia Sdn Bhd constructed another building that is used as a warehouse for the storage of goods for export. The qualifying expenditure for the building was RM250,000. The building was completed on 1 July 2022 and was brought to use on 15 August 2022.
- Alpha Plantation Sdn Bhd (accounting year ends 31 October) was incorporated in April 2020 and owns a piece of land in Kuantan, Pahang to carry on the rubber tree plantation business. The company incurred the following expenditure related to the planting of rubber trees.
On 31 August 2022, the whole farm was sold to Omega Plantation for RM950,000 due to financial difficulties.
Are You Searching Answer of this Question? Request Malaysian Writers to Write a plagiarism Free Copy for You.
Get Help By Expert
At Malaysiaassignmenthelp.com, we provide professional and comprehensive Diploma assignment help to students studying in various universities across Malaysia. With our reliable and efficient assignment writing service, you can be confident that your assignments will be completed on time and to the highest standards. Contact us today to learn more about how we can help you succeed in your diploma studies.
Recent Solved Questions
- BCS302/03: Companies Act 2016 makes it illegal for any loan to be made by a company, or by any of its subsidiary companies: Corporate Governance Assignment, WOU, Malaysia
- Prepare a possible short EIA report for the project: Advanced Environmental Impact Assignment, UU, Malaysia
- CXD1203:Consider the following set of requirements for a worldwide package delivery database that is used to keep track of couriers who ship parcels: DATABASES 1 Assignment, SC, Malaysia
- MKAE1083: A footbridge is required to provide communication between residential areas on either side of a dual carriageway road: Reinforced Concrete Assignment, UTM, Malaysia
- You are a Malaysian trainer who is a highly sought-out expert in the area of cross-cultural negotiations: Workplace Communication Skill Essay, OUM, Malaysia
- Working Arrangements and Leadership, Post COVID-19 The COVID-19 pandemic disrupted global labor markets in 2020: HUMAN CAPITAL MANAGEMENT Case Study, MSU, Malaysia
- PGBM156: Demonstrate critical understanding and application of relevant strategic management and leadership principles: Strategic Management in an International Context Assignment, UOS, Malaysia
- ACC116: Earmax Bhd. is a company that involves in the business of manufacturing speakers for a home theatre company: Introduction to Cost Accounting Assignment, UiTM, Malaysia
- CBSE4103: A local bank intends to install a new Automated Teller Machine to allow bank customers to perform basic financial transactions: SOFTWARE ENGINEERING Assignment, OUM, Malaysia
- BDPB2103: The purpose of this assignment is to develop the learners’ ability to discuss performance appraisal methods and problems in an organization: Introductory Human Resource Management Assignment, OUM, Malaysia