Vous êtes sur la page 1sur 3

Beast Sdn Bhd, a resident company involved in manufacturing of furniture, prepared its profit and loss account for

the year ended 31 December 2010 as follows: Notes RM'000 RM'000 Sales 40,900 Less: Cost of sales 1 (15,000) 25,900 Add: Other incomes 2 200 26,100 Less: Remuneration 3 10,000 Repair and maintenance 4 5,000 Marketing 100 Fright charges 5 300 Entertainment 6 6,000 Financial charges 7 50 Motor vehicle expenses 8 10 Provision for bad debts 9 6 Donation 10 5 Training and consultancy 4 Foreign exchange 11 300 Deprecation 500 Insurance 12 300 (22,575) Net profit before taxation 3,525 Notes: (1) Cost of sales includes a sum of RM 10,000 written off in respect of a consignment of furniture damaged in an accident in the course of its transportation from the supplier. (2) Other incomes comprise: Tax exempt dividend from a pioneer company Dividend from co-operative society Rental Income from Singapore (3) Remuneration comprise: RM 000 Employees Provident Fund (EPF) contributions in 3,500 entertainment allowance paid to managing director and marketing executives Remuneration paid to three disable employees 500 Embezzlement by a director of the company 4,000 Entertainment allowance paid to managing director and 2,000 marketing executive 10,000 RM000 20 80 100 200

(4) Repair and maintenance include: RM 000 Cost of maintaining a holiday bungalow in Johor used by 500 marketing executives of the company Cost of maintaining a holiday bungalow in Port Dickson 1,000 used exclusively by the companys clients (5) Freight charges: The freight charges are for shipping the furniture manufactured by the company from Sabah to Port Klang (6) Entertainment include: RM000 Overseas leave passages for the managing director and 2,500 two other senior executives Corporate memberships to golf clubs made up of entrance 1,000 fees ( purpose is to promote the business of the company) Corporate memberships to golf club monthly 500 subscriptions (purpose is to promote the business of the company Company annual dinner 2,000 6,000 (7) Financial charges includes: A sum of RM 30,000 being the mortgage loan interest incurred on the property in Hong Kong and a loss of RM 10,000 on foreign exchange on the mortgage loan interest (8) Motor vehicle expenses include: RM 000 Gain on the sale of a lorry 5 Fine on traffic offences committed by the lorry driver on 1 delivery of goods (9) Provision for bad debts comprise: Bad debts written off Net increase in specific provision Net increase in general provision Bad debts recovered (10) RM 000 6 3 2 (5) 6

Donation comprise: A cash donation of RM 5,000 was made to a healthcare centre approved by the Ministry of Health.

(11) (12)

Foreign exchange gain of RM 300,000 is in respect of furniture exported to Thailand (realized). Insurance includes a sum of RM 20,000 recovered from an insurance company in respect of loss of profits after a fire broke out in one of the restaurants. On 1st April 2010, the company purchased new equipment for RM 100,000. The Ministry of Energy, Communications and Multimedia certified that the equipment is used by the company exclusively for conserving energy. Brought forward capital allowance are RM 200,000. The capital allowances for the year of assessment 2010 amount to RM 180,000 excluding the asset acquired during the financial year An adjusted loss of RM 50,000 is brought forward from year of assessment 2009. The companys paid up capital at the beginning of the financial year was RM 2 million.



(15) (16)

Required: Starting with the net profit before taxation, compute the income tax payable of Beast Sdn Bhd for year of assessment 2010. Every item mentioned in the notes to the accounts must be listed in your computation irrespective of whether an adjustment is necessary. Where no adjustment is required, indicate NIL in the appropriate column.