User Account

All Pages

Calculate the outstanding amounts to be paid by SESB

Assignment Help Financial Accounting
Reference no: EM132856379

Question - Sport Exercise Sdn. Bhd. (SESB) commenced business on 1 July 2016 as a trading business selling fitness and sport equipment. It closes its accounts to 31 December annually. SESB has filed CP204 for the year of assessment (YA) 2020 amounting to RM318,000 on 1 November 2019. There is no revision on the tax estimate for the current year till SESB computed its income tax payable for RM420,000 for YA 2020.

Required -

i) Determine whether the submission date for CP204 is appropriate or not. Justify your answer.

ii) Identify the installment amounts and the due date for all installment payments.

iii) Calculate the outstanding amounts to be paid by SESB to the Inland Revenue Board and determine the due date to pay the outstanding balance.

Reference no: EM132856379

Questions Cloud

What are the X and Y coordinates for the new plant location : A company wants to determine where they should locate a new warehouse. Using the centroid method, what are the X and Y coordinates for the new plant location
What is the probability that at least one has driven : (a) What is the probability that none of the 3 have driven under the influence of alcohol? (b) What is the probability that at least one has driven under the i
Ancient art egyptian-tombs and treasure : Compare the pre-unification Theban style to that of the block statue style that began in the early Twelfth Dynasty.
Did the company experience a financial downfall : What was the long-term damage of this incident? Did the company experience a financial downfall? How has this event impacted this company long-term?
Calculate the outstanding amounts to be paid by SESB : Calculate the outstanding amounts to be paid by SESB to the Inland Revenue Board and determine the due date to pay the outstanding balance
Provide a taxonomic key using the specimens and organism : Provide a taxonomic key using the specimens and organism listed
Discuss the impact that medicaid cuts : Discuss the impact that the Medicaid cuts will have on Krona's revenue. Discuss the challenges, benefits, and risks in utilizing capitation.
Which organization provides comprehensive guidance : Which organization provides comprehensive guidance and recourses for electronic records management on their website? MoReq./ NARA
What would total sales have to be in order to break-even : If a product sells for $8, variable costs are $6 and fixed costs are $150,000, what would total sales have to be in order to break-even

Reviews

Write a Review

Financial Accounting Questions & Answers

  Compute the unit variable cost-contribution margin per unit

Perfect Stampers has collected new data over the last three months to perform an analysis of their budgeting and cost computations: Average production labor cost per month $7,500. Compute the unit variable cost, the contribution margin per unit and t..

  Find what percentage is assigned to cost of goods sold

Blanco, Inc., Using vertical analysis, what percentage is assigned to Cost of Goods Sold? For the Year Ended December 31, 2010

  How the recommendations to firm is to add the subscription

How the recommendations to the firm is to add the subscription on the app and collect money from customers in order to increase revenue? is this correct?

  Input completeness or input accuracy

If you were worried about whether a certain field in a purchase order was input properly, would you be more concerned with input validity, input completeness or input accuracy? If you wanted to make sure that all purchase orders were accepted at the ..

  Determine what profit be if sale turn out to be nine million

You estimate that your sheep farm, Enter your answer in millions, rounded to two decimal places. What will profits be if sales turn out to be 9 million?

  Find what is the yield on two-year treasury securities

What is the yield on 2-year Treasury securities? Round your answer to two decimal places. What is the yield on 3-year Treasury securities?

  What is the recognized gain or loss from land transaction

Lucy owns 400 shares of Linus, Inc. (adjusted basis $210,000). On September 28, 2014, she sells the 400 shares for their fair market value of $195,000. What is the recognized gain or loss from the land transaction in 2014? Assume no gift tax was paid..

  Develop a formal response to the problem

Assess the financial reporting landscape considering user needs, constraints, and business environment -Identify the issues

  Was the debt issued at a premium or a discount

What type of debt do they have outstanding, and what are the terms of the agreement? Was the debt issued at a premium or a discount?

  Vegetation and topsoil from the project site

A contractor has been awarded the contract for the construction of a small shopping center. The contractor has decided to use crawler tractors with dozer blades to remove the vegetation and topsoil from the project site, but is unsure which size trac..

  Calculate the earnings per share on common shares

Assume that Crane Inc. issued a 18% stock dividend on September 1, 2020. Calculate the earnings per share on common shares for 2020

  Calculate the full cost per unit for each product

Calculate the full cost per unit for each product under traditional costing method, using direct labor hours as the basis for appointment.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd