His other business is Lapaq Kueh Enterprise that supplies Malay traditional desserts to hotels in...
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Accounting
- His other business is Lapaq Kueh Enterprise that supplies Malay traditional desserts to hotels in Kuala Lumpur. This is Dato Idhams new business venture, which commenced on 1 March 2019. Dato Idham is not involved in managing the day-to-day operation of the business. Instead, he appointed Puan Isabella as the General Manager. The business does not have a proper accounting system yet, but Dato Idham provided you with the following information:
| RM |
Total sales | 845,980 |
Cost of materials | 721,540 |
Remuneration of Puan Isabella, the General Manager | 82,000 |
Allowance for Dato' Idham | 60,000 |
Remuneration of two kitchen assistance | 27,000 |
Delivery cost | 3,740 |
Rental and utilities | 13,280 |
Other overhead expenses | 15,430 |
Marketing | 9,820 |
Purchase of equipment on 18 February 2019 | 22,600 |
Purchase of delivery van on 25 March 2019 | 84,000 |
- During the year, Dato Idham received dividend income from companies of which he is the major shareholder (all Malaysian companies) amounted to RM125,000. In addition, he also sits as a member of the board of directors in those companies. Total allowances and other remuneration received by him throughout 2019 amounted to RM88,400.
- Dato Idham has investment in fixed deposit accounts and unit trusts. In 2019, incomes from investment in fixed deposit accounts and unit trusts amount to RM23,680 and RM18,930 respectively.
- In September 2019, Dato Idham was invited to host a special talk show which was aired in television a month later. He was paid RM8,000 for this.
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