f) Renew business permit g) Income tax liability for YA2018 h) Bank loan interest for purchase of stall Cash drawings i) j) Wedding gift to a loyal customer k) Repair broken pipes 1) Depreciation of assets Bad debts (trade) m) Required: For each expense, i. state whether the expense is an allowable or non-allowable deduction, and ii. state the reason for your answer. Follow the following answer format. The first answer has been given to you as an example. Expenses incurred Allowable or Reason / Maximum deduction Non-Allowable Deduction a) Fire insurance Allowable Use in the production of the gross income. b) Chairs and tables c) Donation d) Zakat e) Fines f) Renew business permit g) Income tax liability h) Bank loan interest i) Drawings j) Wedding gift k) Repair broken pipes I) Depreciation m) Bad debt RM800 RM950 RM1,230 RM700 RM300 RM180 RM980 RM250 f) Renew business permit g) Income tax liability for YA2018 h) Bank loan interest for purchase of stall Cash drawings i) j) Wedding gift to a loyal customer k) Repair broken pipes 1) Depreciation of assets Bad debts (trade) m) Required: For each expense, i. state whether the expense is an allowable or non-allowable deduction, and ii. state the reason for your answer. Follow the following answer format. The first answer has been given to you as an example. Expenses incurred Allowable or Reason / Maximum deduction Non-Allowable Deduction a) Fire insurance Allowable Use in the production of the gross income. b) Chairs and tables c) Donation d) Zakat e) Fines f) Renew business permit g) Income tax liability h) Bank loan interest i) Drawings j) Wedding gift k) Repair broken pipes I) Depreciation m) Bad debt RM800 RM950 RM1,230 RM700 RM300 RM180 RM980 RM250