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Kim and Mun are in partnership sharing profit or loss 60% and 40% respectively. For YA2021, the provisional adjusted income was RM520,000.

The partnership has the following unabsorbed loss and capital allowance in YA2020:

	Kim	Mun
Unabsorbed loss	RM20,000
Unabsorbed capital allowance		RM2,000

Both of them received salary RM60,000 each and interest on capital RM4,000 each.

Kim has net rental income of RM10,000 whereas Mun has dividend income RM3,000 for YA2021.

Compute their total income for YA2021

a.Kim: RM240,000; Mun: RM258,000

b.Kim: RM279,200; Mun: RM221,800

c.Kim: RM289,200; Mun: RM218,800

d.Kim: RM250,000; Mun: RM261,000

3.Sports Plaza Sdn Bhd closes its accounts annually on 31 December. The company furnished an initial estimate of tax payable of RM50,000 for the year of assessment 2021. A revised estimate of RM360,000 was made in the month of September 2021. The final tax payable as per the tax computation for the year of assessment 2021 based on the signed audited financial statements was RM600,000. Compute the penalty payable by Sports Plaza Sdn Bhd for the excessive difference between the estimated tax and final tax payable for the year of assessment 2021.

a.RM24,000

b.RM6,000

c.RM5,000

d.RM60,000

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