QUESTION 1
Classify the items below according to accounting classification:
Items Classification items Classification items Classification
Motor Assets Land and Assets Bank Expenses
vehicles building charges
Mortgage Liabilities Depreciation Expenses Discount Expenses
allowed
Rental paid Expenses Electricity Expenses Discount Revenues
and water received
Rental Revenues Unpaid bills Liabilities Salary and Expenses
received wages
Loan Liabilities Investment Assets Account Assets
receivables
Interest on Expenses Dividend on Revenues Accounts Liabilities
loan investment payable
QUESTION 2
Classify the following items into assets, liabilities, revenue or expenses.
Classification Classification
1 Bank loan Liabilities 13 Carriage inwards Expenses
2 Dividend income Revenues 14 Import duties Expenses
3 Land and building Assets 15 Bad debts Expenses
4 Interest on loan Expenses 16 Office supplies Expenses
5 Goodwill Assets 17 Discount allowed Expenses
6 Accounts Liabilities 18 Mortgages Liabilities
payables
7 Salesman Expenses 19 Patents Assets
salaries
8 Trade marks Assets 20 Copyrights Assets
9 Unit trust Assets 21 Term loan Liabilities
10 Ordinary shares Assets 22 Theft of goods Expenses
11 Depreciation Expenses 23 Stationeries Expenses
12 Repairs of motor Expenses 24 Bad debts recovered Revenues
vehicles
QUESTION 3
Pak Abu runs a grocery shop in Kampung Telok Malik. He does not keep a proper book
of accounts. Below are the items found in Pak Abu grocery shop:
Wheat and Tool chair and Premises Land Hanging racks
rice flours desk
Cash Detergents Packed Dried Breads Refrigerator
register fish
Cash in Snacks and junk Packed dried Sauces and Television
hand foods anchovies ketchups
Tins of Bottled and tin Salt and Display racks Coconut grinding
biscuit drinks sugars machine
As a son of Pak Abu, you are required to help Pak Abu on the following matters:
a) Classify the things in Pak Abu grocery shop according to current assets and
non-currents assets.
Current Assets Non-Current Assets
Wheat and rice flours Cash register
Tins of biscuit Cash in hand
Detergents Tool chair and desk
Snacks and junk foods Premises
Bottled and tin drinks Land
Packed dried fish Hanging racks
Packed dried anchovies Refrigerator
Salt and sugars Television
Breads Coconut grinding machine
Sauces and ketchups Display racks
b) Find the amount of loan , if Pak Abu started the business with a capital of
RM50,000 (assuming: The above items were valued at RM80,000.)
=Asset=Liability+Shareholders’ Equity
=80000=L+50000
=L=80000-50000=30000
QUESTION 4
Fill in the gaps below.
Asset Capital Liability
?30,000 20,000 10,000
50,000 ?20,000 30,000
100,000 40,000 ?60,000
120,000 ?60000 60,000
?170,000 130,000 40,000
130,000 120,000 ?10,000
QUESTION 5
Fill in the gaps below.
Loan Capital Investment
37,000 73,000 ?110000
37,000 ?36,000 73,000
?100,000 65,000 165,000
65,000 ?100,000 165,000
65,000 65,000 ?130,000
?100,000 56,000 156,000
QUESTION 6
Fill in the gaps below.
Asset Capital Drawing Liability Expenses Revenue
? 99,000 50,000 1,000 60,000 60,000 50,000
100,000 ?73,000 3,000 60,000 50,000 20,000
90,000 50,000 ?10,000 50,000 50,000 50,000
120,000 80,000 4,000 ? 34,000 50,000 60,000
76,000 100,000 5,000 50,000 ? 129,000 60,000
176,000 76,000 6,000 60,000 60,000 ? 106,000
QUESTION 7
Fill in the gaps below.
Investment Capital Dividend Mortgages Salary Drawing
170,000 165,000 20,000 50,000 60,000 ?5,000
200,000 150,000 50,000 50,000 ? 45,000 5,000
300,000 150,000 50,000 ? 155,000 50,000 5,000
400,000 250,000 ? 150,000 70,000 65,000 5,000
500,000 ?205,000 70,000 300,000 70,000 5,000
?415,000 300,000 80,000 120,000 80,000 5,000
QUESTION 8
Consider each situation separately:
Situation 1 Situation 2
Capital RM?? Loan RM??
Cash RM 5,000 Capital RM 100,000
Accounts receivables RM 12,000 Land RM 150,000
Accounts payables RM 15,000 Premises RM 50,000
Motor Vehicles RM 30,000 Machineries RM 60,000
Equipment RM 10,000 Furnitures RM 40,000
Inventories RM 4,000
Required:
Based on the accounts balances given above, determine the amount of capital
(situation 1) and the amount of loan (situation 2).
Assets+Drawing+Expense=Capital+Liabilities+Revenues
(Situation 1) (Situation 2)
Assets=5000+12000+30000+10000+4000 Assets=150000+50000+60000+40000
=61000 =300000
Liabilities=15000 Capital=100000
Capital=61000-15000=RM46,000 Loan=300000-100000=RM200,000
