The following accounting period is related Steve Holding which has commenced its business operation on 1 October
Question:
The following accounting period is related Steve Holding which has commenced its business operation on 1 October 2014 and closes its account to 30 November 2015 and to that date subsequently. A change of the accounting dates was made following the change in management structure as per following details:
Accounting period
Adjusted Income (RM)
1.10.2014 – 30.11.2015 86,000
1.12.2015 – 30.11.2016 88,000
1.12.2016 – 31.12.2016 6,000
1.1.2017 – 31.12.2017 124,000
1.1.2018 – 30.6.2019 190,000
1.7.2019 – 30.6.2020 100,000
Required:
Determine the basis period and the adjusted income/(loss) for the respective years of assessment.
Business Law The Ethical Global and E-Commerce Environment
ISBN: 978-0071317658
15th edition
Authors: Jane Mallor, James Barnes, Thomas Bowers, Arlen Langvardt