Merzin Unit Trust (MUT) was established in 2015 and invested its fund in shares and fixed deposits.
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Question:
Merzin Unit Trust (MUT) was established in 2015 and invested its fund in shares and fixed deposits. In January 2020, MUT purchased a building and has installed a generator before the building can be rented out. The cost of the generator installation is amounted to RM800,000 and RM1,000,000 for the cost of preparing and levelling the land.
The profit and loss account for MUT for the year ended 31 December 2020 is as follows:
REQUIRED:
Compute tax payable by Merzin Unit Trust for the year assessment 2020.
Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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