Prakash, an engineer, who earns a monthly salary of RM8,000, was transferred to Kuala Lumpur with effect from 1 January 2020. As his accommodation was not ready, he stayed at a hotel up to 28 February 2020 where the room rate was RM200 per day. Subsequently, he moved into a fully furnished bungalow which he shared with another engineer. The company paid a monthly rental of RM10,000 for the house which included RM4,000 for the furniture. Required: Compute Prakash’s gross employment income for YA 2020.
Prakash, an engineer, who earns a monthly salary of RM8,000, was transferred to Kuala Lumpur with effect from 1 January 2020. As his accommodation was not ready, he stayed at a hotel up to 28 February 2020 where the room rate was RM200 per day. Subsequently, he moved into a fully furnished bungalow which he shared with another engineer. The company paid a monthly rental of RM10,000 for the house which included RM4,000 for the furniture. Required: Compute Prakash’s gross employment income for YA 2020.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Prakash, an engineer, who earns a monthly salary of RM8,000, was transferred to Kuala Lumpur with effect from 1 January 2020. As his accommodation was not ready, he stayed at a hotel up to 28 February 2020 where the room rate was RM200 per day. Subsequently, he moved into a fully furnished bungalow which he shared with another engineer. The company paid a monthly rental of RM10,000 for the house which included RM4,000 for the furniture.
Required: Compute Prakash’s gross employment income for YA 2020.
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