Q.
a) Differentiate between accounting and book keeping. (5 marks)
b) Differentiate between sole proprietorship, partnership and limited company in terms of the capital, ownership and liability of its members. (15 marks)
(20 marks, 2013 Q1)
Showing posts with label 2013 D01 Acc. Show all posts
Showing posts with label 2013 D01 Acc. Show all posts
Wednesday, February 4, 2015
Accounting Terms Q2
Q.
Differentiate:
i) Accrued Expenses and Accrued Revenues.
ii) Capital Expenditure and Revenue Expenditure.
iii) Credit Note and Debit Note.
iv) Profit and Loss Account and Balance Sheet.
(20 marks, 2013 Q2)
Differentiate:
i) Accrued Expenses and Accrued Revenues.
ii) Capital Expenditure and Revenue Expenditure.
iii) Credit Note and Debit Note.
iv) Profit and Loss Account and Balance Sheet.
(20 marks, 2013 Q2)
Trial Balance Q3
Q.
Record the following transactions of an Antiques Shop in the accounts and extract a trial balance as at 31 March, 2013.
(20 marks, 2013 Q3)
Record the following transactions of an Antiques Shop in the accounts and extract a trial balance as at 31 March, 2013.
(20 marks, 2013 Q3)
P & L and Balance Sheet Q4
Q.
The following trial balance was extracted from the Account Books of A Cook Sdn Bhd at the close of business on 31st December, 2012.
The following trial balance was extracted from the Account Books of A Cook Sdn Bhd at the close of business on 31st December, 2012.
Prepare the Trading, Profit & Loss Account for the year ended 31st December, 2012 and the Balance Sheet (extract) as at the date.
(20 marks, 2013 Q4)
3-Column Cash Book Q5
Q.
Enter the following in the three-column cash book of a furniture shop and balance it off with relevant discount accounts in the general ledger shown.
(20 marks, 2013 Q5)
Enter the following in the three-column cash book of a furniture shop and balance it off with relevant discount accounts in the general ledger shown.
(20 marks, 2013 Q5)
Sales Ledger transfer to Sales A/C Q6
Q.
Prepare an entry for the Sales Day Book from the following details. Place the items to the relevant accounts in the Sales Ledger and then show the transfer to the Sales Account in the General Ledger.
(20 marks, 2013 Q6)
Prepare an entry for the Sales Day Book from the following details. Place the items to the relevant accounts in the Sales Ledger and then show the transfer to the Sales Account in the General Ledger.
(20 marks, 2013 Q6)
Depreciation and What causes depreciation Q7
Q.
a) A used motor car costs RM10,600. I was kept for three (3) years, and then sold for RM2,800. Calculate the depreciation for each year using:-
i) The Straight Line Method
ii) The Reducing Balance Method of 35% of depreciation rate. (12 marks)
b) Discuss four (4) causes of depreciation of fixed assets. (8 marks)
(20 marks, 2013 Q7)
a) A used motor car costs RM10,600. I was kept for three (3) years, and then sold for RM2,800. Calculate the depreciation for each year using:-
i) The Straight Line Method
ii) The Reducing Balance Method of 35% of depreciation rate. (12 marks)
b) Discuss four (4) causes of depreciation of fixed assets. (8 marks)
(20 marks, 2013 Q7)
Cash Book and Bank Reconciliation Statement Q8
Q.
On 31st December, 2012, the bank column of TNT's cash book showed a debit balance of RM1,500. The monthly bank statement written-up to 31st December, 2012 showed a credit balance of RM2,950.
On checking the cash book with the bank statement, it was discovered that the following transactions had not been entered in the Cash Book:
i) Dividend of RM240 had been paid directly to the bank.
ii) A credit transfer - customs and Excise refund of RM260 - had been collected by the bank.
iii) Bank charges RM30.
iv) A direct debit of RM70 for the AVON subscription had been paid by the bank.
v) A standing order of RM200 for TNT's loan repayment had been paid by the bank.
vi) TNT's deposit account balance of RM1,400 was transferred into his bank current account.
A further check revealed the following items:-
i) Two (2) cheques drawn in favour of All RM250 and Faizal RM290 had been entered in the cash book but was not presented for payment.
ii) Cash of RM90 and cheques amounted RM600 had been paid to the bank on 31st December, 2012 but were not credited by the bank until 2nd January, 2013.
You are required to:
a) Starting with the debit balance of RM1,500, update the Cash Book (Bank Column) until the current date and show the balance of the bank statement.
b) Prepare a Bank Reconciliation Statement as at 31st December, 2012.
(20 marks, 2013 Q8)
On 31st December, 2012, the bank column of TNT's cash book showed a debit balance of RM1,500. The monthly bank statement written-up to 31st December, 2012 showed a credit balance of RM2,950.
On checking the cash book with the bank statement, it was discovered that the following transactions had not been entered in the Cash Book:
i) Dividend of RM240 had been paid directly to the bank.
ii) A credit transfer - customs and Excise refund of RM260 - had been collected by the bank.
iii) Bank charges RM30.
iv) A direct debit of RM70 for the AVON subscription had been paid by the bank.
v) A standing order of RM200 for TNT's loan repayment had been paid by the bank.
vi) TNT's deposit account balance of RM1,400 was transferred into his bank current account.
A further check revealed the following items:-
i) Two (2) cheques drawn in favour of All RM250 and Faizal RM290 had been entered in the cash book but was not presented for payment.
ii) Cash of RM90 and cheques amounted RM600 had been paid to the bank on 31st December, 2012 but were not credited by the bank until 2nd January, 2013.
You are required to:
a) Starting with the debit balance of RM1,500, update the Cash Book (Bank Column) until the current date and show the balance of the bank statement.
b) Prepare a Bank Reconciliation Statement as at 31st December, 2012.
(20 marks, 2013 Q8)
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