AA015 TRIAL PSPM KMNS 2019 2020 EDITED ANSWERS

QUESTION 1(A)
(i)
Zulfa Enterprise
Bank Reconciliation Statement
As at 30 November 2018
Balance as per Bank Statement
RM RM RM
(592) 490
Add :
Less :
Deposit in transit: Ruzita Kedai Ecah
Unpresented Cheques:
Check No. 153354
Check No. 153356
Check No. 153357
1,250
890 65 450
1,740 1,148
(1,405)
(257)
Adjusted bank balance
Balance as per Cash Book
(1,230) 600
(241)
16 (257)
(14√ × 1⁄2 = 7 marks)
AA015 TRIAL PSPM KMNS 2019 (2020 EDITED)
Add :
Less :
(ii)
Dividend Revenue
Cheque Book Expenses Adjusted book balance
Interest Revenue 340
Account Receivable 49 989
Date
Nov. 31
Dr. Bank
Cr. Dividend Revenue
(Record dividend revenue)
Dr. Bank
Cr. Interest Revenue
(Record interest revenue )
Accounts & Explanation
Debit (RM)
600
340
Credit (RM)
600
340


Dr. Bank
Cr. Account Receivable
(Record deposit)
49
49
Dr. Bank charges expense
Cr. Bank
(Record bank charge expense)
16
16
QUESTION 1(B)
(16√ × 1⁄2 = 8 marks)
Allowance for Doubtful Accounts
2000 RM Accounts Receivable 4,000
Bal. c/f
550
4,550
2000 RM
Bal. b/f
Bad Debts Expense
500 4,050
4,550
2001 RM
Accounts Receivable Bal. c/f
2,100
145
2,245
2001 RM
Bal. b/f
Bad Debts Expense
550
1,695
2,245
Bad Debts Expense Accounts
2000 RM
All. for Doubtful Acc.
4,050
4,050
2000 RM Statement of profit or 4,050 loss
4,050
2001
All. for Doubtful Acc.
RM 2001
1,695 Statement of profit or
loss
1,195
RM 1,695
1,195
(10√ × 1⁄2 = 5 marks)


QUESTION 2(A)
Weighted Average
Date
Purchase
Sales
Balance
Unit
Cost
RM
Unit
Cost
RM
Unit
Cost
RM
Feb 1
1000
2.50
2,500
5
750
2.50
1,875
250
2.50
625
9
5,000
2.50
12,500
5250
2.50
13,125
12
4000
2.50
10,000
1250
2.50
3,125
16
7,500
2.60
19,500
8750
2.59
22,625
24
3,250
2.70
8,775
12000
2.62
31,400
28
11000
2.62
28,820
1000
2.62
2,580
Cost of goods sold
40,695
Ending inventory
2,580
(15√ × 1⁄2 = 7.5 marks)
(i)
(14√ × 1⁄2 = 7
marks)
July 1
Dr. Notes payable
50,000
Cr. Bank
50,000
Dec 31
Dr. Interest expense
2500
Cr. Accrued interest (10% x 50,000 x 6/12)
2500
(ii)
(11√ × 1⁄2 = 5.5
marks)
June 30
Dr. Notes payable
50,000
Interest expense
2,500
Accrued interest
2,500
Cr. Bank
55,000


QUESTION 3
(i)
Date
Details
Dr. (RM)
Cr. (RM)
2018 Aug 15
Dr. Machine Cr. Cash
12,500
12,500
Oct 7
Dr. Furniture Cr. Cash
6,700
6,700
Dec 15
Dr. Motor Vehicle Cr. Cash
93,500
93,500
2019 Apr 10
Dr. Machine Cr. Cash
25,000
25,000
May 31
Dr. Motor Vehicle Cr. Cash
75,000
75,000
(ii)
(10 √ x 1⁄2 = 5 marks)
Date
Details
Dr. (RM)
Cr. (RM)
2019 June 30
Dr. Depreciation expense
Cr. Accumulated dep. – Machine
(110,000 x 15%) + ((12,500 x 15%) x 11/12) + ((25,000 x 15%) x 3/12)
19,157
19,157
Dr. Depreciation expense
Cr. Accumulated dep. – Motor
V ehicle
[(225,000 – 22,500) x 10% ] + ((93,500 x 10%) x 7/12) + ((75,000 x 10%) x 1/12)
26,329
26,329
Dr. Depreciation expense
Cr. Accumulated dep. – Furniture
[(40,000-4,000) x 10%] + ((6,700 x 10%)x 9/12)
4,103
4,103
(18 √ x 1⁄2 = 9 marks)


(iii)
Date 1/7/2018
15/8/2018 10/4/2019
Date Bal c/f
Particular Bal b/f
Cash Cash
Particular
Machine
RM Date
110,000 12,500
25,000 Bal c/f 147,500
Particular
RM
147,500
147,500
.
Accumulated Depreciation - Machine
RM Date 1/7/2018
35,657 30/6/2019 35,657
Acc. Receivable
Particular RM
Bal b/f
Depreciatio n Expenses
16,500 19,157
35,657
QUESTION 4
(i)
(12 √ x 1⁄2 = 6 marks)
167,300
180
980
44,190
212,650
54,600
144,290
198,890
2,800
700 3,500
Bal b/d Sales
Purchase return Bank
Bal c/d
Bal b/d
Bank
39,780
172,870
212,650
3,200
132,340
63,350
Bank
Bad debts Sales return Bal c/d
Acc. Payable Bal b/d
Purchases
198,890
Prepaid Insurance
1,100
2,400
3,500
Insurance/SPOL
Bal c/d


Bank
Bal c/d
18,200
1,850 20,050
Salaries Payable
Bal b/d
Salaries/SPOL
2,550
17,500
20,050
(15 √ x 1⁄2 = 7.5 marks)
(ii)
Fatimah Batik Enterprise Statement of Profit or Loss
For the year ended 30 September 2018
RM
RM
RM
Sales (9070+172870)
81,940
Sales return
√(980)
Net sales
180,960
Less: COGS:
Beginning inventory
62,120
Add Purchases (10200+144290)
154,490
- Purchase return
(3,200)
Net purchases
151,290
Cost of goods for sales
213,410
- Ending inventory
(58,500)
Cost of goods sold
154,910
Gross profit
26,050
Less: operating expenses
Rent
4,800
Utility
2,850
Telephone
1,350
Salaries (18,200-2,550+1,850)
17,500
Vehicles expenses
7,200
Bad debt
180
Depreciation – vehicles
15,226
Depreciation –equipment
2,470
Insurance
2,800
54,376
Net loss
28,326
(21 √ x 1⁄2 = 10.5 marks


(iii)
Fatimah Batik Enterprise Statement of Financial Position As at 30 September 2018
RM
RM
RM
Non-Current assets
Equipment
24,700
- Acc. Depreciation – Equipment
(9,880)
14,820
Vehicles
76,130
- Accumulated Depreciation – Vehicles
(60,904)
15,226
30,046
Current Asset
Cash
23,010
Accounts receivable
44,190
Inventory
58,500
Prepaid Insurance
700
126,400
156,446
Current Liability
Accounts payable
63,350
Salaries payable
1,850
65,200
Owner’s equity
Beginning capital
121,372
-Net loss
(28,326)
-Drawings
(1,800)
91,246
156,446
(14 √ x 1⁄2 = 7 marks)