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  3. 1. a company incurred rm100,000 in preparing and l

1. A company incurred RM100,000 in preparing and levelling land to install an equipment. The...

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Accounting

1. A company incurred RM100,000 in preparing and levelling land to install an equipment. The cost of this equipment was RM1,000,000, but the company decided to take a 4 year lease with annual lease rental of RM300,000. Which of the following are correct?

i. Lessee is the owner of this equipment

ii. The qualifying expenditure is RM1,000,000

iii. The qualifying expenditure is RM1,100,000

iv. Annual lease rental of RM300,000 is allowable expenditure

a.i & ii

b.iii only

c.ii & iv

d.iv only

e.iii & iv

2.

Ms Ummi, a Malaysian tax resident and an employee of Rona Sdn Bhd, provides the following information in respect of the year of assessment 2021:

RM

Gross salary for year

120,000

Leave passage benefit - airfare to Korea paid by Rona Sdn Bhd

1,600

Accommodation for Ms Ummi's Korean trip paid by Rona Sdn Bhd

3,400

Contributions-in-kind for approved project of national interest made by Ms Ummi

15,000

What is Ms Ummis total income for the year of assessment 2021?

a.RM111,060

b.RM109,800

c.RM123,400

d.RM108,400

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