Answer to Question #246531 in Accounting for Nadiiny

Question

Question 1

 

Batu Hampar Enterprise is a partnership business involved in homestay business at Yan, Kedah. Below is the financial information of the partnership:

a)   Divisible income of the business for the year ended 31 December 2019 is RM 12,000 and partnership remuneration and allowances is RM 34,000.

b)   The partners, Rahim and Jalil allocated with 6:4 profit/loss sharing ratio. Starting from 1st October 2019, Mamat join the partnership and the profit/loss allocation changed to 3:2:1 (Rahim: Jalil: Mamat).

c)    Allocation for partnership remuneration is also based on profit/ loss allocation ratio.

d)   Capital allowance for the year 2019 is RM 9,000.

e)   Donations was made at 31st July 2019 to Rumah Anak Yatim Al-Luqman (approved & receipt attached) cost RM 3,000.

 

Required:

Compute the total income for each partner for the year of assessment 2019. 

Answer 1

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