Lowyat.NET: Latest topics by BoobaabaaBoo

Looking for Landed house within 20km from KL city

BoobaabaaBoo — Fri, 28 May 2021 13:19:25 +0800

Hi guys,

I am looking for a double storey house with few criterions below. Please help to suggest a few projects as I do not have idea where to locate for the projects.

Price: <RM 1M
Loctation: within 20km from KL City
Size: at least 22*70
With gardens/parks/cycling/jogging track by developer.

Thanks!

PS: i am looking at Marque@Jalil, but not sure if this is a go as no parks/recreation.

P&L and BS Queries on a Bridal Shop

BoobaabaaBoo — Sun, 24 May 2020 21:41:19 +0800

Hi All,

Appreciate if any expert can help me on the following questions as I am still learning with the accounting system and tax computation.

Background: I am running a bridal shop which provides gown renting and photoshooting service with my 2 other partners. We just started in year 2019 hence we need to file tax for the very first time.

My questions are as below:
1. Are the gowns considered as current asset - inventory or fixed asset? The life span of the gown could be 5 years BUT the design might be considered outdated after 3 years tho. Gown price range varied from 3000-10000.

1a. If it is under current asset, there is no depreciation available. If it is fall under fixed asset, depreciation straight line method will be used. If it is under fixed asset, can i claim Capital Allowance (initial allowance and annual allowance)?

2. We do purchase some furniture and fittings too, the costs are varied from RM 100 to RM 5000. I would categorize these under PP&E categories however, for the items smaller than 300, can i still file it under PP&E or it should go to expense a/c? For example, hook for the cloth is about RM 50, how do i file it?

2a. I am aware of capital expenditure but l couldn't understand it. is item 2 above are considered Capital expenditure?

2b. If the table and chairs are less than 500, can it still considered as PP&E?

3. I paid RM 20k as deposit to my gown supplier in year 2019, however i only receive the gown in year 2020. Do I account the RM 20k into vendor prepayment (under assets) and create a prepayment journal? may i know the double entry of these transactions?
Dt Prepayment 20k
Ct Bank 20k

after receiving in 2020
Dt Gown
Ct prepayment 20k

hopefully all Sifu can help with the questions above! Thank you in advance!

Business Premise & Signboard License

BoobaabaaBoo — Thu, 20 Feb 2020 11:16:19 +0800

Hi All,

Planning to run a gown renting business at Puchong area. Try to search online and the MPSJ web, not much info i can find. Anyone can advise on the process/procedure to obtain the licenses from MPSJ? Understood that i need to obtain both premise and signboard license. My friend told me that I need to get approval of the signboard from Dewan Pustaka before proceed with MPSJ?

Anyone know the flow?

Thanks

Minimum 48'' Smart TV below RM 1600

BoobaabaaBoo — Wed, 14 Dec 2016 14:41:10 +0800

Hi All,

I am planning to purchase a TV. As a girl, it is too much for me to go through all the threads and study what the differences are among UHD, FHD, 4K, 8K. I can see many starts above my head...

Appreciate if you all can recommend reliable model for me to proceed. Here are my criteria of selection:

1) smart tv (internet connectivity)
2) at least 48" screen size
3) price capped at RM 1600

Thanks in Advance!

Floor Protector for Placing Fridge & Washing Mac

BoobaabaaBoo — Thu, 24 Nov 2016 11:10:16 +0800

A fridge will be placed on tile floor. A washing machine and a condenser dryer will be placed on vinyl floor. All of them will be placed directly on the floor.

Question:
1) Will the floor be damaged in long term if intact directly with these big appliances?
2) What kind of protector should I use to protect the floor from damage without renovation e.g. building a platform to place it.

[attachmentid=8122325]

[attachmentid=8122332]

Thanks!

Rain Shower Query

BoobaabaaBoo — Mon, 17 Oct 2016 16:57:47 +0800

Hi All,

I wish to purchase rain shower from Taobao however I am totally no idea what I should really know in order to choose and order?

Electrician told me that my heater has pump hence water pressure is not an issue. Can any of you share the knowledge/caution that I need to know in order to buy it?

[attachmentid=7797783]
The sample that I would like to purchase...

Thanks in advance for your advice!

Diary of Renovation towards Home Sweet Home [In Pr

BoobaabaaBoo — Thu, 13 Oct 2016 14:28:08 +0800

This is a diary about my house renovation. It's for sharing and memory purpose. I don't think I manage to write as details as others did. This is more on my diary~

Possession of the soho in year 2015 but only started the renovation project in Sep 2016.

Type: Soho Duplex
Size: ~600sq for the 1st Floor, ~500sq with one bedroom for the 2nd Floor

[attachmentid=7759779]
View from the front door, 1st Floor

[attachmentid=7759794]
View from the staircase door, 2nd Floor

[attachmentid=7759812]
View from the front door, 2nd Floor

Developer has provided the followings which help to save a lot of cost:
1) built-in kitchen cabinet @ 1st & 2nd floor
2) 4 nos of air-con: 2 each @ 1st & 2nd floor
3) 2 nos water heater @ 1st & 2nd floor
4) built-in wardrobe @ 2nd floor bedroom
5) light, electric, tv, unifi, points

Renovation Contractor
I am happy with this contractor. I requested quotation from him in Dec 2015 but I didn't proceed with any renovation project due to personal issue. I came back to him this September 2016, he was happy to visit and send me a new quotation. Surprisingly, he didn't increase his price and maintain the same. So I decided to proceed with him.

The renovation is still undergoing, roughly the results are good and satisfying. One point is I'm glad to see the Chinese worker during site visit. There are total of 3 chinese workers on that day and even the electrician is chinese too. This make me feel relief... I believe chinese workers are skillful than foreign workers. Besides, he is not too kira where i did request additional power point which needs to be rewiring from DB box, another 2 power point (looping), door painting... where all of these he didnt charge me... LOL... The electrician is good where he is able to provide advice and seek for opinion.

There are total of 2 stages of renovation.
1st Stage: Install Plaster ceiling at 1st Floor, Room Partition at 2nd Floor, Adding power point, Install light. Progress: almost done. Photos will be uploaded in next thread.
2nd Stage: Build platform to extend the size of room at Void area. To be done in coming week.

Lighting
All of my lighting stuffs are purchased from House of Lighting, Puchong. What is my conclusion after doing a lot of study and survey: Go ahead with branded stuff if you have budget. Go ahead with non-branded stuff if you have tight budget. It is meaningless to compare one by one just to save few dollars each. You may disagree me but at least I'm not willing to spend so much time on this. I would say it is very much depends on LUCK[U] when you do purchase. Example, if you are good in luck, you will never find problem with your KXK/Pana fan. But if you are so unlucky, you will find issues after installing it for few days/weeks/months? This is reason why some would complain about the brand, some are being so supportive.

To be continued...

Contractor's Quotation

BoobaabaaBoo — Wed, 16 Dec 2015 17:11:46 +0800

Question: How long normally does your contractor take to send you the quotation? How long should I wait in order to get his quotation?

I have a contractor visited to my unit last Sunday 13th December. He promised to email me the quotation without mentioned the date. Up to today (I post this), I haven't received any quotation from him yet. I whatsapp him yesterday 14th December 2015 to remind him, he replied that he was busy on Sunday night and doing something when I text him. That's fine. So I keep waiting but...... I start doubt it. A simple quotation that he would not be able to send through in a short period.. I wonder how he manage his projects?

The reason I struggled here is he is kind enough to advise everything (unlike other contractor, they simply nod their head without giving any suggestion/idea) and help me to save money. E.g. He told me not to do the plaster ceiling as my initial ceiling is not high enough. It would become much lower after plaster ceiling installation. Yes, that's true and I agree with his point. Personally I dont like low ceiling. And my unit has too many points where I thought I must do plaster ceiling.. but now I am glad to hear that it isn't a must.

The way he talked is quite convincing and I felt like he is experienced enough to carry the work. I thought after receiving the quotation, I will straight engage him to start my project. But till now I have not received the quotation and I doubt about the management... I know I might be unfair to him as it just only two days. So any idea? comment to share?

PS: It is just a minor wiring job where i think would cost me 1.5k max probably.

Looking for Wireman/Electrician for New House

BoobaabaaBoo — Thu, 26 Nov 2015 11:00:57 +0800

Hi all,

Can any of you please share the contact of reliable and reasonable electrician/wireman? I will it for my new house. The list of the works would be: 5 lighting points, 3 power points, 15 looping points and 1 fan point. Also, developer has provided air con (installed) but I would to switch the air con to other location. Well, I was told that contractor might need to move the pipe/duct too.?Since the developer has provided quite a number of points already, so it would be a small project compare to other new house I supposed. Location is duplex in One South, Seri Kembangan

Thanks in advance!

Condenser Dryer

BoobaabaaBoo — Sat, 21 Nov 2015 13:02:37 +0800

Appreciate if you could share/recommend a good condenser dryer and the price. I am looking one for budget not over RM2000 but I guess there is no such thing for a condenser dryer. If you have bought a one, can you please review about it? Thanks!

Place to Purchase Curtains

BoobaabaaBoo — Tue, 17 Nov 2015 15:22:17 +0800

Hey guys, where normally do you all purchase your curtains? Please share your experience by telling the quality, size, price of the curtain, price of installation, ready or custom made?