Details of CFP Sdn Bhd for the year ended 30 June 2019 are as follows.TradingbusinessRM 0001ManufacturingbusinessRM'000Business incomeGross income2,0002,400701003,000Expenditure (Note)Capital allowancesBalancing chargeCapital allowances brought forwardLoss brought forward2,40030020105Other incomeRental6050InterestNoteIncluded in expenditure were the following:ManufacturingbusinessTradingbusinessRM'000RM'000Non-deductible expenditureApproved donation in cash801502535RequiredCompute the chargeable income of CFP Sdn Bhd for Year of Assessment 2019.

Name: Details of CFP Sdn Bhd for the year ended 30 June 2019 are as follows
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Description: Details of CFP Sdn Bhd for the year ended 30 June 2019 are as follows.TradingbusinessRM 0001ManufacturingbusinessRM'000Business incomeGross income2,0002,400701003,000Expenditure (Note)Capital allowancesBalancing chargeCapital allowances brought forw

Chargeable income, which is also called taxable income, is the amount of income that is taxed after…

Business

Accounting

Details of CFP Sdn Bhd for the year ended 30 June 2019 are as follows. Trading business Manufacturing business RM 000 RM'000 Business income Gross income 2,000 3,000 Expenditure (Note) 2,400 2,400 Capital allowances 70 300 Balancing charge 100 Capital allowances brought forward 20 Loss brought forward 105 Other income Rental Interest 60 60 50 Note Included in expenditure were the following: Trading business Manufacturing business RM'000 RM 000 Non-deductible expenditure Approved donation in cash 80 25 Required Compute the chargeable income of CFP Sdn Bhd for Year of Assessment 2019. 150 35

Details of CFP Sdn Bhd for the year ended 30 June 2019 are as follows. Trading business Manufacturing business RM 000 RM'000 Business income Gross income 2,000 3,000 Expenditure (Note) 2,400 2,400 Capital allowances 70 300 Balancing charge 100 Capital allowances brought forward 20 Loss brought forward 105 Other income Rental Interest 60 60 50 Note Included in expenditure were the following: Trading business Manufacturing business RM'000 RM 000 Non-deductible expenditure Approved donation in cash 80 25 Required Compute the chargeable income of CFP Sdn Bhd for Year of Assessment 2019. 150 35

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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Question

Details of CFP Sdn Bhd for the year ended 30 June 2019 are as follows.
Trading
business
RM 000
1
Manufacturing
business
RM'000
Business income
Gross income
2,000
2,400
70
100
3,000
Expenditure (Note)
Capital allowances
Balancing charge
Capital allowances brought forward
Loss brought forward
2,400
300
20
105
Other income
Rental
60
50
Interest
Note
Included in expenditure were the following:
Manufacturing
business
Trading
business
RM'000
RM'000
Non-deductible expenditure
Approved donation in cash
80
150
25
35
Required
Compute the chargeable income of CFP Sdn Bhd for Year of Assessment 2019.

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