CONFIDENTIAL 1 AC/JULY2023/ACC117/106

UNIVERSITI TEKNOLOGI MARA

TEST 2

COURSE : INTRODUCTION TO FINANCIAL ACCOUNTING /

INTRODUCTION TO FINANCIAL ACCOUNTING AND
REPORTING
COURSE CODE : ACC117/106
DATE : 8 JULY 2023
TIME : 2 HOURS

INSTRUCTIONS TO CANDIDATES

1. This question paper consists of THREE (3) questions

2. Answer ALL questions using your own paper

3. Answer ALL questions in English

DO NOT TURN THIS PAGE UNTIL YOU ARE TOLD TO DO SO

This examination paper consists of 5 printed pages

 CONFIDENTIAL 2 AC/JULY2023/ACC117/106

QUESTION 1

The following transactions were extracted from the book of Mutiara Trading for the month of
June 2023.

Type of Book of
June Transaction
Prime Entry

1 The owner of the business, Puan Jameela injected cash

into the business bank account amounting RM120,000.

She brought in a computer amounting RM6,000 for

3
business use.

5 Purchased goods worth RM15,000 on credit from Mili

Trading.

8 Returned damaged good to Mili Trading RM1,000.

10 Cash sales to Amanina Enterprise RM15,000.

12 Paid electricity bill RM200 cash to TNB.

15 Owner took cash RM3,000 for his pocket money.

19 Amanina Enterprise returned faulty goods RM1,500.

24 Credit sales RM4,500 to Ali Trading.

Owner took goods amounted RM1,000 for his personal

29
use.

Required:

Give the appropriate book of prime entry for each of the transactions given above.

(Total: 10 marks)
CONFIDENTIAL 3 AC/JULY2023/ACC117/106

QUESTION 2

The following Trial Balance was extracted from the books of Hope Enterprise as at 31
December 2022.

Debit Credit
Sales 310,300
Purchases 105,520
Inventory as at 1 January 2022 30,300
Motor vehicles 150,000
Office equipment 50,000
Accounts receivable 45,000
Accounts payable 10,200
Rental 9,600
Cash 5,100
Bank 12,000
Allowance for doubtful debt as at 1 January 2022 1,000
Interest on fixed deposit 5,000
Utilities 5,500
Carriage inwards 2,200
Carriage outwards 3,500
Discount allowed 1,750
Discount received 2,890
Return inwards 3,130
Return outwards 2,800
Insurance 4,000
Interest on loan 2,000
Drawings 1,350
Bank loan 50,000
Capital 250,000
Salaries 33,240
Accumulated Depreciation as at 1 January 2022:
Motor vehicles 22,500
Office equipment 9,500
Fixed Deposit 200,000
664,190 664,190

Additional information:

1. Inventory as at 31 December 2022 was valued at RM25,240.

2. Aiman, one of the debtors owing RM900 was declared bankrupt, and the debt needs to be
written off. It is the policy of the company to provide 3% Allowance for doubtful debt on the
remaining accounts receivable.

3. During the year, the owner took cash worth RM500 for his personal use.

4. The following were accruals and prepayments as at 31 December 2022:

Accruals RM Prepayments RM
Utilities 300 Insurance 400
Interest on loan 500
Interest on fixed deposit 1,000
CONFIDENTIAL 4 AC/JULY2023/ACC117/106

5. Depreciations for the year are to be provided as follows:

Non-Current Assets Method of depreciation Depreciation rate

Motor vehicles Straight Line 15%
Office equipment Reducing Balance 10%

Required:

a. Prepare the Statement of Profit or Loss for the year ended 31 December 2022.
(15 marks)

b. Prepare the Statement of Financial Position as at 31 December 2022.

(10 marks))

QUESTION 3

Husna is the newly appointed accounts assistant for Dinamik Sdn Bhd. Upon comparing the
bank statement and the cashbook of the business for the month of June 2023, she found that
there were differences between the balance as per Cash Book and the balance as per Bank
statement as shown below:

Maybank Berhad
Dinamik Sdn Bhd: Bank Statement at 30 June 2023
Cheque
Date Particulars Debits Credits Balance
No
June RM RM RM
1 Balance b/f 2,000.00
10 Deposit 100.00 2,100.00
12 Deposit 1,221.00 3,321.00
12 Cheque clearing 757571 250.00 3,071.00
13 Cheque clearing 757572 200.00 2,871.00
15 Deposit 1,000.00 3,871.00
16 Cheque clearing 757573 2,500.00 1,371.00
18 Credit transfer 150.00 1,521.00
19 Dividend 100.00 1,621.00
19 Deposit 2000.00 3,621.00
20 Clearing cheque 757577 121.00 3,742.00
20 Cheque clearing 757574 960.00 2,782.00
21 Cheque clearing 757576 500.00 2,282.00
25 Dishonoured cheque 200.00 2,082.00
30 Standing order 210.00 1,872.00
30 Bank Charges 10.00 1,862.00
31 Interest 100.00 1,762.00
CONFIDENTIAL 5 AC/JULY2023/ACC117/106

CASHBOOK ACCOUNT
Cheque
June RM June RM
No
1 Bal b/f 2,000
8 Zailan 100 1 Shikin Bhd 757571 250
12 Zakiah Bhd 1,221 4 Purchase 757572 200
15 Nizam 1,000 6 Stationery 757573 2,500
17 Chan 2,000 10 Azwa 757574 690
25 Aira Bhd 1,200 12 Purchase 1,500
30 Zee Sdn.Bhd 90 18 Ina 757576 500
30 Amelia 250 19 Sales 757577 121
28 salary 757575 1,000
31 Balance c/d 1,100
7,861 7,861

Additional information:

i. The transaction recorded by the bank are deemed correct

ii. On 19 June 2023, cash sales worth RM121 was wrongly recorded in the credit site
of Cash book.
iii. Payment to creditor (cheque no 757574) amounting to RM960 was wrongly
recorded in the cash book as RM690

Required:

a) Prepare the Adjusted Cash Book for the month of June 2023.
(9 marks)
b) Prepare the Bank Reconciliation Statement of Dinamik Sdn Bhd as at 30 June 2023.
(6 marks)
(Total: 15 marks)

END OF QUESTION PAPER