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05/107/111/114/115 ION

INSTRUCTIONS TO CANDIDATES 1. This question paper consists of two (2) parts : PART A (9 Questions) PART B (5 Questions) 2. Answer ALL questions from all two (2) parts :

i) Answer PART A in the Objective Answer Sheet. ii) Answer PART B in the Answer Booklet. Start each answer on a new page. 3. Do not bring any material into the examination room unless permission is given by the invigilator. 4. Please check to make sure that this examination pack consists of: i) the Question Paper ii) an Answer Booklet - provided by the Faculty iii) an Objective Answer Sheet - provided by the Faculty

PART A This part consists of 9 multiple choice questions. Choose the most suitable answer and shade the corresponding alphabet representing the answer in the multiple choice answer sheet provided. The process of accounting can be described as: a) Classifying, summarizing, recording and interpreting b) Interpreting, classifying, summarizing and recording c) Recording, summarizing, interpreting and classifying d) Recording, classifying, summarizing and interpreting (1 mark) 2. A decrease in the Allowance for Discount Allowable would result in: a) b) c) d) 3. a decrease in the net profit an increase in the net profit a decrease in capital a decrease in the current assets (1 mark) A bank reconciliation statement is a statement a) Sent by the bank when they have made an error b) Drawn up by us to verify our cash book balance with the bank statement c) Sent by the bank when the account is overdrawn d) Drawn up by the bank to verify the cash book (1 mark) 4. An instruction given by our supplier to the bank to debit our account every month with our permission can be referred to as: a) Direct Debit b) Standing Order c) Credit Transfer d) Dishonoured Cheque (1 mark) D Jaya Enterprise bought office equipment on credit from Sakura Sdn. Bhd. What is the effect of this transaction? a) Decrease in liability and increase in assets b) Increase in assets and increase in liability c) Decrease in both assets and liability d) Increase in assets and increase in capital (1 mark)

DO NOT TURN THIS PAGE UNTIL YOU ARE TOLD TO DO SO This examination paper consists of 9 printed pages Hak Cipta Universiti Teknologi MARA CONFIDENTIAL


Which of the following is the purpose of Ratio Analysis? a) to measure the company's performance b) to measure the control of working capital c) to measure solvency and liquidity d) all of the above (1 mark)


Which of the following can be considered as capital expenditure? a) b) c) d) Purchase of non-current assets Cost of modification Cost of extension all of the above (1 mark)

8. Ahmad, the owner of Berjaya Sdn. Bhd. purchased a motor vehicle for RM400,000 in February 2007. The depreciation rate is 20% per annum based on reducing balance method on yearly basis. What is the net book value of the motor vehicle on 31 December 2009? The accounting year end is 31 December each year. a) RM320.000 b) RM144.000 c) RM204,800 d) RM195,200 (2 marks) 9. Recognizing accrued salary expense in the Balance Sheet would result in a) b) c) d) increase in liability decrease in asset increase in asset decrease in liability (1 mark) (Total: 10 marks)


4 AC/APR 2010/ACC100/105/107/ 111/114/115

PART B QUESTION 1 A. Rendra Trading started its business on 1 November 2009 in Kota Bharu Megamall. The following transactions took place in the month of November 2009. Nov 1 Mr. Rendra (the owner) started a business by depositing RM15,000 into his business bank account. Nov 3 Bought goods from Medina Enterprise on credit worth RM5.000. Nov 5 Sold goods on credit to Shiela Bambo costing RM4.000. (Term applied: 5/10, net 30). Nov 10 Purchased a secondhand delivery van worth RM20.000 from Sri Benteng Sdn. Bhd. No payment was made.

Nov 15 Paid salaries by cheque RM 1,300. Nov 23 The owner took some goods for his personal use amounting to RM500. You are required to: a) Record the above transactions in the appropriate ledgers of Rendra Trading. Note: Students are not required to balance off the accounts. (6 marks) b) List down two (2) characteristics of both a partnership and a company. (4 marks)


Identify the accounting concept that describes each situation below: 1 Impiana Enterprise purchased a freehold premise costing RM100.000 in 2004 by cheque. According to the property agent, the current value of the premise is much higher than the actual price. 2 At the end of the accounting period, there was stock of stationery amounting to RM250. 3 Al-Aimi Trading acquired new office equipment. The equipment will be used for 10 years in the business. Depreciation will be provided on a straight line basis as to be similar to the other equipments owned by the business. 4 As an accounts clerk, Rohani only records those transactions that can be measured in monetary terms. 5 The owner of Tirai Seri Sdn. Bhd. took RM5.000 worth of goods for his wife. For accounting purposes, the owner is always considered to be separate and distinct from the business which he owns.

QUESTION 2 The following are information extracted from the balance sheet of Salomon Enterprise as at 31 December 2008. Non-current asset Date of purchase Cost (RM)

Machinery 3 March 2006 134,000 Motor Vehicles 25 July 2005 267,000 Office Equipment 16 September 2004 245,000 During the year ended 31 December 2009, Salomon Sdn. Bhd. purchased the following assets and paid by cheque. Non-current asset Date of purchase Cost

Machinery 23 March 2009 RM35.000 (excluding transportation charges of RM 1,500 and installation cost of RM500)

Motor Vehicle 14 April 2009 RM85.000 (including painting of business name on the motor vehicle RM2,000)

Office Equipment 2 July 2009

RM 15,000

It is the policy of the company to charge depreciation for both its machinery and motor vehicles at the rate of 20% per annum on straight line method while office equipment is depreciated at 10% per annum on reducing balance method. All assets are depreciated in full in the year of purchase. You are required to: a) Prepare the following: i. All non-current assets accounts ii. Accumulated Depreciation Accounts for each non-current asset iii. Balance Sheet Extract as at 31 December 2009 (16 marks)

b) List two (2) causes of depreciation. (2 marks) (Total: 18 marks)

(5 marks) (Total: 15 marks) Hak Cipta Universiti Teknologi MARA CONFIDENTIAL

QUESTION 3 The following balances were extracted from the books of Read Space Press Sdn Bhd as at 31 December 2009: DR (RM) CR (RM)
Capital 100,000 Purchases/Sales 360,000 567,320 Bank 43,000 Cash 7,600 Insurance on Purchases 4,300 Plant and Machinery 140,000 Motor Vehicles 80,000 Copyright 22,000 Ijoan from TEKUN 50,000 Long Term Investment 10,000 Carriage Inwards 7,100 Ihventory 1 January 2009 42,400 Commission received 6,800 Returns 19,000 8,000 Water and Electricity 9,230 Telephone and Internet 2,200 Rental Income 4,800 Repairs on motor vehicles 2,800 Account receivables 90,490 Account payables 27,000 Salaries 33,900 Allowance for doubtful debts 1,200 Allowance for discount allowable 900 Mortgage on Plant 20,800 Advertising 16,700 Dividend 5,500 Accumulated depreciation: Plant and Machinery 50,400 Motor Vehicles 48,000

890,720 890,720

At the end of the accounting period, you are provided with the following information:

e inventory as at 31 December 2009 was valued at RM21,000.

n. Qawiem, the owner of the business, took goods worth RM1.200 for his personal use.

n. Qawiem decided to write off debts worth RM2,300 when he discovered one of the debtor was in financial diff

Allowance for doubtful debts is to be adjusted to 2% on the outstanding debtors, while the allowance for discount allowable is to be provided atBook Cash 3%. It is the company's policy to depreciate its non-current assets as follows: DR Plant and machinery - 20% on reducing balance method Motor vehicles - 20% on straight line method. The company had been guaranteed a commission of RM680 per month. CR 2009 vii. Interest on loan is 5% per annum. The loan was taken on 1 February 2009. Refence No viii. RM5,000 of the advertising expenses is RM a campaign which will be held in year for 2009 2010. Particulars Cheque No RM You are required to prepare: September a) Income Statement for the year ended 31 December 2009 and; (16 marks) September b) Balance Sheet as at 31 December 2009. (14 marks) (Total: 30 marks) 1 QUESTION 4 Bal b/d 21,895 vi.

6 The following is a summary from the cash book (bank column) and the bank statement of TNB Simba Enterprise for the month of September 2009. 511322 750 8 Irfan - BS224 970 13 Purchases 511323 2,165 9 2009 Particulars Nora - BS432 Reference 465 DR 17 CR Maintenance Balance 511324 September 440 17 Bala - BS650 1,535 30 1 Utility Balance b/d 511325 285 31

21,895 Sandra-BS711 8 3,120 Deposit 31 BS224 Bal c/d 790 24,345 22,685 9 Cheque 511322the month Bank Statement for 27,985 ended 750 21,935 17 27,985 Deposit BS432 465 22,400 18 Cheque 511323 2,165 Additional information: 20,235 19 Cheque 1A cheque received from Irfan was wrongly recorded in the cash book as RM970. 2 The amount received from Bala RM 1,535511324 was wrongly recorded by the bank as RM1.530. 440 19,795 26 Deposit BS650 1,530 21,325 28 Standing Order 220 21,105 30 Credit Transfer

450 21,555 30 Bank Charges 350 21,205

2007 QUESTION 5 2008 2009 (RM)

(RM) MAJU AMMAR Trading ends its financial year at 31 December every year. Given below is the (RM) information concerning its debtors, bad debts and allowance for doubtful debts for the year Total sales ended 31 December 2007, 2008 and 2009. 6,000,000 6,200,000 4,800,000 Total credit sales (before bad debts) 4,000,000 4,500,000 3,600,000 Bad debts 5,500 1,300 2,500 Allowance for Doubtful Debts 51,000 42,000 49,000 You are required to prepare:

You are required to: a) b) c) Update the Cash Book for the month of September 2009. Draw up a Bank Reconciliation Statement as at 30 September 2009. Explain the following terms: i. ii. Standing Order Unpresented Cheque (5 marks) (Total: 15 marks) (4 marks) (6 marks)