workbook accounting

Prakata

Bentuk pembelajaran seperti latih tubi dilihat masih
relevan dan terbukti berkesan meningkatkan penguasaan
pelajar terhadap sesuatu mata pelajaran berdasarkan kajian
pendidikan yang dijalankan sebelum ini. Konsep belajar latih
tubi ini juga membantu pelajar menguasai bahan-bahan melalui
self paced dan self directed atau pembelajaran terarah kendiri
yang merupakan salah satu ciri-ciri pembelajaran bestari
(Utusan Malaysia, 2014).

Oleh yang demikian, usaha menghasilkan buku kerja bagi
Kursus Business Accounting dilihat relevan bagi memastikan
pelajar dapat menguasai kursus ini dengan baik dan seterusnya
meningkatkan pencapaian akademik Kursus Business
Accounting.

Dengan penghasilan buku ini semoga dapat dimanfaatkan
sepenuhnya oleh pelajar dan membantu semasa ulangkaji
sebagai persediaan bagi menjawab soalan peperiksaan akhir
semester.

~Azlina Hamdan~
Jabatan Perdagangan, Politeknik Mersing (Januari 2020)

Page 1 of 54

TOPIC 1 :
INTRODUCTION

TO
ACCOUNTING

Page 2 of 54

Question 1 Business Entity
Objectivity
List the process involved in accounting. Matching Concept

Summarizing Prudence
Historical Cost
Question 2 Consistency
List external users of accounting information Going Concern

Question 3
List internal users of accounting information

Question 4
Matching with the correct answer

1 The accountants have the tendency
to understate rather than overstate
the profit and assets.

2. A company is not going to
bankrupt and must continue to
expand.

3. The business owner paid rental of
his house and the amount paid is
not considered a business
transaction.

4. A clerk refused to record the
purchase of goods by credit
because no invoice received for the
transactions.

5. All accounting records are
Prepared based on the cost value.

6. The business should use the same
accounting method to allow for the
comparison of reports from one
period to the next.

7. All expenses incurred to generate
revenue must be reported within
the period in which the revenue is
reported.

Page 3 of 54

Question 5 Consistency period
Matching
Matching with the correct answer Historical cost
Prudence
The value of office equipment on Money measurement
the balance sheet of Amar Trading
is recorded at its original cost when
acquired by the company.

As an accountant, once you adopt
an accounting principle or method,
you will continue to follow it
consistently in the future
accounting periods.

Maju Sdn. Bhd will ensure that only
transactions and events that are
capable of being measured
in monetary terms are recognized in
the financial statements.

Kedai Buku Cahaya records all
revenues, that is, along with the
expenses that brought them.

Do not overestimate the amount of
revenues recognized or
underestimate the amount of
expenses.

Page 4 of 54

Question 6

Circle the best answer

1. Which one below would be considered as external user of accounting information ?

a. Current investor c. Sales department
b. Shareholders d. Employee’s union

2. Which of following are the roles of an accountant ?

i. prepare financial report iii. manage and run the business

ii. comply with the accounting iv. to ensure salary increments

standard

a. i and ii c. ii and iv

b. ii and iii d. iii and iv

3. The process of calssifying, recording, summarizing, analysing and interpreting

business data is call ___________

a. transactions c. accounting

b. book keeping d. concept of accounting

4. State which of the following is the internal user of accounting information ?

a. supplier c. finance department

b. government d. employee union

5. Identify which of the following is the role of an accountant ?

a. manage and run the business c. to ensure salary increment

b. supplying goods or services to d. designing and controlling systems of

earn profit financial records

6. “The same accounting method will be used for each accounting period”

The above statement is a match to accounting assumption.

a. materiality c. consistency

b. objectivity d. accounting period

7. Which of the following is NOT a part of the definition of accounting ?

a. classifying c. summarizing

b. concluding d. recording

8. In accrual accounting, the _______ principle states that expenses should be

recorded during the period in which they are incurred as to generate revenue,

regardless of when the transfer of cash occur.

a. separate entity c. matching

b. consistency d. going concern

9. Below are the internal user of accounting information EXCEPT :

a. Lmebaga Hasil Dalam Negeri c. business owner

b. management staff D. marketing department staff

Page 5 of 54

TOPIC 2 :
ACCOUNTING

BOOKS

Page 6 of 54

Question 1

Circle the best answer

1. Items such as sales receipt, bills and invoices are example of __________

a. source documents c. book of prime entry

b. business transaction d. income statement

2. Ting Ting Enterprise has understated the merchandise supplie to Siti. What is the

document need to be sent by Ting Ting Enterprise to Siti ?

a. invoice c. debit note

b. cash bill d. account statement

3. The purchase of furniture on credit must be recorded in the _________

a. cash book c. general journal

b. purchase journal d. sales journal

4. An invoice is sent from a seller to a buyer to show that ___________
a. a buyer had settled his account c. a buyer returned the good bought
b. a seller returned the good bought d. a seller sold goods on credit to a buyer

5. _______ is source document to record return inward.

a. receipt c. credit note

b. cheque butt d. debit note

6. “Sold goods to Mr. Rashid RM 3,000 by credit”. The transaction will be recorded in

______________

a. general journal c. purchase journal

b. sales journal d. cash book

7. Which of the following is NOT the function of source document ?

a. source of accounting information c. source of references to business

competitiors

b. source of records for journal d. sources to complete the record of business

transactions

8. Which of the following is NOT book of prime entry

a. purchase journal c. ledger

b. sales journal d. cash book

9. Which one of the following documents involved in credit sales ?

a. invoice c. cheque butt

b. credit note d. receipt

10 A special journal is used to record a specific type of transaction only. Example of

special journal are below EXCEPT :

a. purchase journal c. sales return journal

b. sales journal d. drawing book

Page 7 of 54

11 Interpret the meaning of Going Concern in accounting perspective
a. continue to expand and operate c. purchase new asset in the future
in the future or long term period
b. be liquidated in the near future d. purchase another business in the future

Page 8 of 54

Question 2
State which Books Of Prime Entry to record the following transactions

Date Transactions Books Of Prime
Entry
April 1 Adam Iman, a sole trader started his business on 1st
April 2019 with RM30,000 cash.
2 Purchased goods on credit , RM10,000 from Joyah
Trading and received trade discount 10%.
5 Cash sales RM500 was banked in.
7 Sold goods to Aca Shop , worth RM5,000 on
credit.
12 Purchased an office equipment RM2,000 on credit
from Senin Suppliers.
16 Adam Iman took cash, RM100 for paying his
daughter’s tuition fees.
20 Sold goods and received cheque RM2,500.
23 Goods purchased from Joyah Trading was found
broken, worth RM 500. Returned the goods to her.
28 Paid utilities by cash RM500.

Question 3

Abu just started the business on 1 July 2019, named Mini Market Abu Bakar. The following
were the transactions for the month of July. Prepare the SPECIAL JOURNAL and transfer
TO LEDGER

July 1 Deposit the cash money into the bank, RM 50,000
July 5 Purchased 20 packs of rice worth RM 300 on credit from Beras Faizah.
Received trade discount 10%.
July 6 Purchased 50 box of Ayam Sardine on credit from Supplier Good RM 150.
July 10 Sold goods to Kedai Runcit Pak Ali and received cash RM500
July 15 Sold goods to Encik Ahmad Trading RM 1,200 on credit and gave him
discount 5%.
July 20 Abu realized that 5 packs of rice has expired. He returned it to Beras Faizah
valued RM 75.
July 21 Encik Ahmad returned broken goods to us RM50.
July 26 Paid salary by cash to workers RM 1000
July 31 Purchased goods on credit from Eng Hoe Supplier RM2500. Received trade
discount 10%

Page 9 of 54

Question 4

Hartinie Bazaar is a retail business owned by Amelia. The business record of the company as
at 31st May 2016 showed the following balances :

Cash in hand RM 4,800

Cash at bank RM 45,000

Account receivable RM 9,700

Account payable RM 7,800

Capital RM 51,700

The following business activities occurred in the month of June 2016.
June 3 Bought goods on credit from Aisy Supplier worth RM 22,250
6 Cash sales RM 8,000
9 Paid advertising expenses RM 1,500 by cheque.
15 Credit sales to Afzan RM 15,000
19 Cash purchases of RM 8,000 was paid by cheque
22 Bought goods on credit RM 5.600 from Syukri Trading
23 Paid by cheque RM 9,000 to Aisy Supplier
27 Paid salary by cash RM 2.600
30 Received cheque RM 32,000 from Rama Enterprise due to good sold

Prepare : 3 column cash book and special journal

Page 10 of 54

Question 5
Melati is the owner of a flower shop. Below are the balances on 1st March 2019.

Cash in hand RM 5,000

Cash at bank RM 25,000

During March 2016, Melati Florist had the following transactions :

Date Transactions Amount (RM)

March Purchased a small lorry for business used by cheque 12,500
2

3 Cash purchased from Cameron Valley 2,000

7 Sold goods to Ihsan Trading and received cheque 5,000

10 Cash sales and the money was banked in 750

14 Purchased goods from Lily Vase Ent on credit 4,000

18 Cash sales and received cheque 3,500

21 Paid entire amount owed to Lili Vase Ent by cheque. Received
trade discount 5%

24 Purchased furniture to decorate the shop by cheque 1,200

25 Sold flowers to Jentayu Sdn. Bhd on credit 4,000

28 Withdrew cash from business for personal 2used 250

29 Paid staff salary by cheque 3,000

30 Paid by cash : Shop rental 1,000

: Water and electricity 310

Record the above transactions into 3 column cash book.

Page 11 of 54

Question 6
Umar is the owner of a grocery shop. The following are the balance on 1st July 2018.

Cash RM 2,000

Bank RM 10,000

Date Transactions Amount (RM)

July 2 Purchased of goods by cheque 4,500

3 Cash sales to Lily 1,000

6 Sold goods to to Yun Lee, paid by cheque 5,000

9 Cash sales 1.350

13 Purchased goods from Bestari Design on credit 3,000

17 Cash sales and the money was banked in 6,900

20 Paid off entire amount owed to Bestari Design by
cheque. Received trade discount 10%

21 Purchased office table by cheque 510

22 Sold goods to Reza Enterprise on credit 4,000

24 Withdrew cash from business for personal used. 380

27 Received cheque from Reza Enterprise to pay off
its account. Discount allowed 5%

Prepare 3 column cash book for the above transactions.

Question 7

Mr. Imran is the owner of a business selling computer accessories. His account on January 1,
2016 showed balances as followed:

The following transactions occurred during January 2016 :

Jan 3 Purchased furniture worth RM 1,200 and paid by cheque.
9 Paid cash RM300 for utility expenses
10 Received cheque RM 3,000 from Idaman Enterprise due to selling oc computer
accessories
13 Bought computer accessories worth RM 1.350 by cheque
21 Mr. Imran contributed his personal cash RM 500 for business used
23 Mir. Imran withdrew business cash at bank for office used RM 1,000
25 Paid Malini Sdn. BHd RM 530 by cheque aster cash discount RM 40
26 Received cash RM 340 from Man Sdn. Bhd after allowing him cash discount
RM 50.

Record the above transactions in a three column cash book.
Page 12 of 54

Question 8

Below are the transactions of Hassan Book Store in March 2019.

Date Transactions
March 1 Balance brought forward of this month is cash in hand RM 6,000 and cash
at bank RM 14,000.
6 Purchased book rack worth RM 3,000 , paid by cheque
8 Boight vehicle by credit from UMW Motor worth RM 45,000
10 Purchased stationery for office used worth RM 350 by cash
11 Paid shop rental for RM 1,000 by cheque.
12 Cash sales for RM 2,000 was banked in on the same day.
15 Took books and magazine RM100 for own used
18 Purchased shelves and tables for RM 7,000 and paid by cheque.
21 Paid advertisement expenses by cash RM 500
25 Paid water and electricity bills RM850 by cash
27 Owner brought in computer from his house to the office for business used
worth RM1,200
28 Paid staff salary of RM 3,000 by cash.

You are required to record the above transactions in the cash book (2 column)

Question 9

Below is a list of business transactions during the month of January 2019. You are required to
identify the books of prime entry for each transactions.

1 Bought goods on credit
2 Bough machinery on credit
3 Sold goods to customer on credit
4 Goods returned by supplier due to

faulty
5 Goods returned to supplier due to

wrong types

Page 13 of 54

Question 10

Mr Aron is the owner of Aaron Enterprise , a shoe outlet. The following is the balance on 1st
January 2019.

Cash in hand RM 5,000

Cash at bank RM 25,000

During month of January 2019, Aaron Enterprise had the following transactions.

Date Transactions (RM)
Jan 2 Bought goods by cheque 4,500
3 Cash sales to Erin 1,000
6 Sold good to Yuna , Yuna paid by cheque 5,000
9 Purchase goods on credit from Baymond 3,000
13 Purchase office equipment by cash 2,000
20 Paid off entire amount owed to Baymond by 3,000
cheque
22 Sold goods by credit to Reza 4,000
24 Withdrew cash from business for personal used 500
28 Received cheque from Reza to pay off its 4,000
account
30 Paid salary by cheque 2,300

You are required to express the above transactions in cash book (two column)

Page 14 of 54

TOPIC 3:
DOUBLE – ENTRY

CONCEPTS

Page 15 of 54

Question 1

Circle the best answer

1. Below are the categories of expenses account EXCEPT ?

a. cash c. utilities

b. salary d. stationery

2. Mr. Faiz bought a wardrobe from Atirah Furniture Store by cash for business used.

Which account should be recorded by Mr. Faiz ?
a. Debit – Furniture, Credit – Atirah c. Debit – Furniture, Credit - Cash

Furniture d. Debit – Purchase, Credit – Atirah Furniture
b. Debit – Purchase, Credit -

Furniture

3. An account that normally has a credit balance is _______

a. revenue c. drawing

b. expenses d. asset

4. State what is the normal balance of asses account ?

a. debit c. contra

b. credit d. all of the above

5. Received cash from debtors will :
a. increase an asset and decrease an c. decrease an asset and decrease revenue
asset
b. decrease an asset and decrease d. increase an asset and increase liability
expenses

6. A company sells goods on credit for RM 5,000. Which of the following show the

correct double entry ?

a. credit account payable and debit c. credit inventory account and debit

sales account receivable account

b. debit cash account and credit sale d. debit receivable account and credit sales

account account

7. Normal balances for asset and expenses is ________

a. debit for asset and credit for c. debit for expenses and credit for asset

expenses

b. credit d. debit

8. Accounting equation refers to : c. Owner’s equity = liabilities - asset
a. asset = liabilities + owner’s d. Asset + owner’s equity = liabilities

equity
b. liabilities = asset – owner’s

equity

Page 16 of 54

9. In a double entry system, debit used to record ______
a. increase in asset and expenses, c. decrease in asset and capital, increase in
decrease in liability, revenue and liability, revenue and expenses.
capital.
b. increase in asset and revenue, d. decrease in asset, increase in capital,
decrease in liability, expenses and liability, revenue and expenses.
capital.

10. Which is of the following account has a credit balance ?

a. drawing c. sales

b. discount allowed d. salary

Page 17 of 54

Question 2
On 31st August 2019, the business records of Che Bunga showed the following balances :

Cash in hand RM 7.500
Fixtures and fittings RM 9,500
Capital RM 17,000
The following are the business transactions for September 2016
Sept 2 Purchased goods on credit worth RM 9.100 from Sarah
5 Paid transport expenses RM 120 by cash
8 Sold goods by credit to Rainbow Enterprise RM 1,500 and Kenny RM 900
12 Bought goods by cash worth RM1,000 from Zahra Enterprise
16 Received credit note from Sarah RM150 for goods returned
19 Paid Sarah in full by cash
21 Che Bunga withdrew business cash for her own used
23 Received cash from Kenny RM 450
25 Sold goods RM 4,000 by cash
28 Paid salary to the shop assistant by cash RM 600

You are required to record the above transactions into appropriate ledger (without balance off
the account)

Question 3
Below are the business transactions for Mari Mana Trading for April 2016. Prepare ledger.

April 1 Brought in RM 4,500 cash and RM 5,700 bank into business.
7 Sold goods to Max Ltd. RM 9,900. Trade discount 10%

11 Paid for advertising RM790 by cash.
16 Cash sales RM 320
21 Purchased goods from Enigma Trading RM 6,600
25 Received cheque from Max Ltd. RM 2,000 and gave discount

RM50

Page 18 of 54

Question 4

Amir owned a grocery shop named, Hannan Mini Market has given you the transactions for
July 2017.

July 1 Below are the balances of the following account :

Vehicles RM 80,000

Building RM 300,000

Cash in hand RM 5,000

Cash in bank RM 40,000

4 Purchased 50 packets of brown rice from Kilang Beras Faizah and paid by
cheque RM 1,000

10 Amin deposited cash from sales into business bank account RM 7,800.

11 Sold goods to Kedai Runcit Ali, RM5,000 by credit.

12 Kedai Runcit Ali returned some damages good RM 350.

13 Purchased a table from IKEA for office used RM150, paid by cash.

15 Paid utilities RM1200 by cash.

17 Received rent as revenues from tenant of the shop, RM 1,500.

19 Kedai Runcit Ali settled all his debt and paid by cash.

20 Purchased 1000 bottles of chili sauces from Hoe Seng Factory by credit
RM 4,000.

21 Sold goods to Mini Market Terlajak Laris RM 4,000 by credit.

21 Brought in PC from the house for Am Hannan Mini Market used , worth

RM1000.

25 Paid salary to workers, RM 2,000 by cash.
28 Amin’s wife took RM100 cash for her personal used.

You are required to prepare:
1. Ledger for the above transactions
2. Balance off the account

Page 19 of 54

Question 5
Betty La Fea just started new hand phone business. The following were transactions for July
2016.
July 1 Started the business with RM 50,000 deposited into business bank account.

10 Purchased I Phone X and paid by cheque, RM 20,000
23 Sold hand phone to Kedai Celcom on credit, RM 5,000.
25 Kedai Celcom settled all his debt by cheque.
28 Paid salary to workers by cheque, RM1,200.
You are required to prepare:
1. Ledger for the above transactions
2. Balance off the account

Page 20 of 54

Question 6

Ain Farhana owned a restaurant named, Mamak Bistro has given you the transactions for
June 2018.

June 1 Below are the balances of the following account :

Vehicles RM 80,000

Building RM 300,000

Cash in hand RM 5,000

Cash in bank RM 40,000

Loan RM 25,000

4 Purchased 20 packets of 10kg rice from Mini Market Moleque and paid by
cheque

RM 1,000
5 Ain Farhana deposited cash from sales into business bank account RM 5,800.

9 Purchased groceries from Ah Ching Supplier by credit, RM 2,540.

11 Tayangan Cantik had a farewell party at Mamak Bistro. They paid RM 3,000
cheque for the food ordered.

12 Returned some damages groceries bought from Ah Ching Supplier worth RM
350.

13 Purchased a table from IKEA for office used RM150, paid by cash.

15 Paid utilities RM1200 by cash.

17 Received rent payment from the tenant RM 1,500 cash.

19 Settled all debt to Ah Ching Supplier and paid by cash.

20 Purchased 100 bottles of chili sauces from Hoe Seng Factory by cheque RM
400.

21 Received order from Romah Makan Terlajak Laris and received cash payment
RM 4,000.

22 Brought in PC from the house for Mamak Bistro used worth RM1,000.

25 Paid salary to workers, RM 2,000 by cash.

28 Ain Farhana took RM100 cash for her personal used.

Illustrate:
1. Ledger for the above transactions
2. Balance off the account

Page 21 of 54

Question 7

Book Boutique Mersing has given you the transactions for December 2018.

Dec 1 Below are the balances of the following account :
4
Vehicles RM 80,000

Cash in hand RM 5,000

Cash in bank RM 40,000

Loan RM 25,000

Purchased 20 dictionaries and paid by cheque RM 500.

5 Owner deposited cash from sales into business bank account RM 5,800.

11 Sold 100 files to Koperasi Politeknik Mersing by credit worth RM 2,000.

15 Paid utilities RM1200 by cash.

18 Purchased a table from IKEA for Book Boutique used RM150, paid by cash.

19 Koperasi Politeknik Mersing paid all their debt by cheque and gave them
RM100

discount.
20 Owner brought in laptop from the house for Book Boutique Mersing used

worth
RM1,000.
22 Received cash from sales RM 3,400.

25 Paid salary to workers, RM 2,000 by cash.

27 Received order from ILP, Mersing and received cheque payment of RM
4,000.

28 Owner took RM100 cash for her personal used.

Illustrate:
1. Ledger for the above transactions
2. Balance off the account

Page 22 of 54

Question 8
Prepare ledgers for the following transactions without balance off the account

Date Transactions
June 1 These are the balances for the account for Aina Hardware Trading :
Cash RM 10,000
2 Bank RM 9,800
19 Vehicles RM 50,000
24 Purchased goods on credit RM 4,000 from Chin Supplier.
30 Took goods for own used RM 1,000.
Paid salary RM 7,000 using cash.
Settled all debt to Chin Supplier by cheque.

Question 9

The following are the tansactions of Emart Trading for January 2017. Prepare ledger (without
balance off the account)

Jan 1 Encik Mat, the owner of Emart Trading invested cash of RM 20,000 into the
business.
5 Furniture, RM 2,000 was purchased on credit from DCO Furniture Bhd.
9 Encik Mat took cash RM100 for personal used
10 The business paid stationeries RM100 using cheque.
13 The business settled the debt to DCO Furniture Bhd. With cheque.
25 Paid RM80 by cash for miscellaneous expenses.
31 Paid salary RM 2,000 by cheque.

Page 23 of 54

Question 10

Aufa decided to start a business focusing on selling plastic products on 1st April 2016. During
the month, her business had the following transactions:

April 1 Aufa deposited RM 10,000 into business bank account as capital.

2 Brought in a lorry RM 60,000 into the business as capital.

4 Bought a machine worth RM 40,000 on credit from Millenium Sdn.
Bhd

5 Withdrew RM 1,000 from business bank account for office used.

7 Issued a cheque RM 1,000 for office rent

10 Bought goods worth RM 15,000 by credit from Aiman Enterprise

15 Aufa took out some plastic products valued RM 500 for personal used

21 Sold goods to Ayyub on credit RM 4,000. Trade discount 5%

24 Ayyub returned damaged goods RM400

You are required to record all the above transactions into ledgers and balance off the ledgers
account.

Question 11

Mr. Izz started is business on 1st July 2018 with furniture RM 8,000 and cash at bank RM
42,000. During the month of July 2018, the transactions took place as follows :

July 1 Purchased goods from Iqbal Trading on credit RM 3,000

5 Sold goods to Nissa on credit RM 3,500 and she received trade discount 5%

9 Mr. Izz paid his personal car insurance by business cheque, RM800

13 Nissa sent cheque to settle all her debt.

15 Cash sales RM 1,500

21 Received invoice from Effa Trading for purchased of goods RM 2,500

25 Received a credit note from Effa Trading RM200 due to broken items.

29 Paid salary by cheque RM 3,500.

Page 24 of 54

Question 12

The following balances were obtained on 1st April 2019 from Aina Enterprise which is a
sport equipment supplier :

Cash RM 5,000

Bank RM 52,000

Motor vehicles RM 50,000

The accounting information of Aina Enterprise is given as follows :

Date Transactions Amount
(RM)
April 2 Purchased a delivery van on credit from Tan
Cheng Motor 60,000

7 Purchased goods on credit from Maira Sport 37,000
Enterprise
15,800
15 Sold goods on credit to Shuib Trading 3,000
500
20 Cash sales to Emran
15,800
23 Returned goods to Maira Enterprise due to 3,500
damage

25 Shuib Trading settled all debt by cheque

30 Paid salary by cheque

Show all the transactions into the relevant ledgers without balane – off the account.

Page 25 of 54

TOPIC 4:
TRIAL BALANCE

Page 26 of 54

Question 1

Song Joong Ki just started new business named KPOP GIFT BIZ. Below are the balances
of the account for the month ended June 2018. Illustrate the trial balance as at 30 June 2018.

Items RM
Vehicles 45,000
Carriage inward 300
Purchase return 150
Land and building 200,000
Drawing 525
Salary 6,000
Stationery 290
Creditors 5,700
Cash 9,450
Bank 8,760
Loan 35,000
Discount allowed 160
Commission received 1,280
Office equipment 2,450
Furniture 2,400
Discount received 300
Water and electricity 1,200
Ending inventory 600
Capital 216,585

Question 2
The following are the balance of the account for the month ended November 2018.

Items RM
Capital 39,468
Sales 237, 942
Administrative expenses 7,100
Cash in hand 9,480
Salary 18,700
Cash at bank 13,562
Office equipment 16,000
Purchases 118,435
Commission received 8320
Motor vehicles 21,453
Debtors 17,400
Creditors 19,000
Discount allowed 7,000
Opening inventory 25,600
Land and building 50,000

As an account clerk at Mr. Yoo Store, illustrate a trial balance for the business.

Page 27 of 54

Question 3

Below are the account balances from the books of Syafi Trading on 30th June 2015.

Name of account RM
Cash in hand 1,621
Cash at bank 24,284
Purchases 246,000
Capital 100,500
Maintenance and petrol 2,500
Fixed deposit in RHB Bank 50,500
Account receivable 37,325
Account payable 29,530
Rent revenue 13,500
Office equipment 9,300
Loan from MBSB 56,500
Duties on purchases 3,770
Insurance paid 2,000
Salaries and wages 23,700
Drawings 5,500
Carriage inwards 5,052
Carriage outwards 2,807
Interest on loan 4,820
Interest on fixed deposit 4.085
Water and electricity 2,020
Building 99,300
Sales 316,384

Prepare the trial balance of Syafi Trading as at 30 June 2015.

Page 28 of 54

Question 4

The following balances are extracted from the books of Polkadots Bakery on 31st December
2018

Account RM
Bank overdraft 5,200
Capital 40,000
Carriage inwards 900
Carriage outwards 1,230
Cash 1,150
Commission received 1,450
Creditors 5,915
Debtors 5,345
Discount allowed 265
Discount received 400
Drawings 600
Duty on purchases 875
Insurance 480
Investment 50,000
Interest on loan 600
Interest on investment 400
Loans 25,000
Purchases 8.765
Rental 6,000
Repair and maintenance 5,000
Salaries 9,500
Sales 12,345

Prepare the trial balance of Polkadots Bakery as at 31 December 2018

Page 29 of 54

Question 5

Bubu Enterprise prepared the following trial balance which contain number of errors.

Bubu Enterprise

Trial balance as at 31 December 2017

Debibt (RM) Credit (RM)

Stock 1 January 2017 12,300
Purchases
Sales 50,265
Return inwards
Return outwards 83,445
Duty on purchases
Carriage inwards 850
Carriage outwards
Commission received 800
Insurance
Advertisement 925
Debtors
Creditors 850
Rent received
Fitting and fixtures 1,230
Discount received
Discount allowed 3,850
Motor vehicle
Salary 335
Cash
Bank (overdraft) 3,450
Loans
Drawing 2,495
Fixed deposit
Capital 8,415

4,000

38,000

277

465

58,300

8,922

12,250

1,500

64,000

650

30,000

55000

248,587 193,987

Prepare trial balance after making the necessary corrections.

Page 30 of 54

Question 6

Hwa Rang Trading is a retail shop business owned by Puan Sara. Following are the lists of
her account balances as at 31 December 2018. Prepare trial balance as at 31 December 2016

Account RM
Inventory ( 1 January 2018) 2,000
Wages 1,000
Account receivable 500
Sales 47,000
Return outwards 1,700
Purchases 25,000
Return inwards 2,000
Discount allowed 500
Account payable 2,000
Office furniture 6,000
Carriage outwards 300
Commission to salesman 2,000
Delivery van 22,500
Capital 7,000
Drawing 200
Cash in hand 7,300
Cash at bank 15,600
Loan from Bank Islam 27,900
Loan to marketing staff 700
Inventory (31 December 2018) 4,000

Question 7

Puan Moist, the owner of Moist Trading has prepared trial balance for year end on 31st
December 2017. Prepare the correct trial balance as at 31st December 2017

Capital Debit (RM) Credit (RM)
Sales 237,942 39,468
Administrative expenses
Cash in hand 18,700 7,100
Salary 16,000 9,480
Cash at bank 8,320
Office equipment 13,562
Purchases 19,000
Commission received 25,600 118,435
Motor vehicle 325,562
Debtors 21,453
Creditors 17,400
Discount allowed
Opening stock 7,000
Land and building
50,000
283,898

Page 31 of 54

Question 8

The following is a trial balance of Wai Mee Sd. Bhd for the year ended 31st December 2018.

DETAILS DEBIT CREDIT
Capital 9,860
Drawing 1,400
Premises 6,500 1,250
Fitting and fixtures 440 70
Bank 420 7,860
Cash 55
Debtors 1,320 480
Creditors 19,520
Stock 1st January 1,080
Wages 2,220
Salary 1,780
Purchase and return 3,430
Sales and return 120
Rates 250
Stationery 180
Electricity 110
Carriage inwards 80
Carriage outward 50
Rent received
General expenses 85
19,520

Ending inventory RM 1,200.
Prepare trial balance for the year ended 31st December 2018

Page 32 of 54

Question 9

The following balances are extracted from the bok of Axis Glassware Trading. You are
required to prepare trial balance.

Account RM
Building 85,000
Vehicles 52,000
Cash 5,000
Bank 72,500
Rental received 5,000
Salary 6,000
Water and electricity 2,000
Commission received 3,000
Drawing 4,500
Debtors 56,000
Creditors 38,000
Capital 80,000
Loan from Maybank 155,000
Interest received 2,000

Question 10

Fill in the blank

JITU TRADING

TRIAL BALANCE AS AT 31 DECEMBER 2019

Motor vehicle 30,000

Loan - Maybank 10,000

Rent received 4,000

Discount allowed 2,000

Sales 3,000

Purchase 8,000

Capital (a)

(b) (c)

Page 33 of 54

TOPIC 5:
FINANCIAL
STATEMENT

Page 34 of 54

Question 1
Circle the best answer

1. Which of the following NOT appear in Statement Of Comprehensive Income ?

a. carriage inward c. sales

b. loan on interest d. Prepaid insurance

2. The following information is extracted from Sufi Trading.
Sales RM 70,000
Purchase RM 52,000
Opening stock RM 17,000
Sales return RM 400
Ending Stock RM 7,000

Calculate the value of cost of good sold ?

a. RM 8,000 c. RM 62,000

b. RM 42,000 d. RM 80,000

Question 2
Information for Anje Trading are as follows:

Beginning inventory RM 1,000
Ending inventory RM 500
Sales RM 58,000
Purchase RM 20,000
Sales return RM 150
Salary RM 1,000
Discount allowed RM 260
Commission received RM 450

Calculate : (5 marks)
a. Net sales (7 marks)
b. Cost of good sold (8 marks)
c. Gross profit/ loss (10 marks)
d. Net profit/ loss

Page 35 of 54

Question 3

TWIN ENTERPRISE
STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31.12.2018

Sales 198,000
(-) Sales return 195,500
Net sales

LESS : COST OF GOOD SOLD 35,000
Opening inventory
(+) Purchases 75,000
(- ) Purchase return (2,800)
Net Purchase
(+) 1,000
500
(+) Carriage inwards
Cost of purchase 108,700
Cost of good available for sale (8,000)
(- ) Ending inventory
Cost of good sold

94,800

(+) REVENUES 3,150
Discount received 102,450
Rentals

(-) EXPENSES 5,550
Commission 3,300
Discount allowed 3,900
Insurance 3,300
General expenses

86,400

Page 36 of 54

TWIN ENTERPRISE
STATEMENT OF FINANCIAL POSITION AS AT 31.12.2018

NON-CURRENT ASSETS 45,000
Office equipment
Vehicles
Total non-current assets

CURRENT ASSETS 2,100
Cash 1,000
Bank
Account receivable 8,000

Total current assets 12,000
Total assets 210,000

OWNER’S EQUITY 9,000
Capital 86,400

(-) Drawing
Total owner’s equity

NON-CURRENT LIABILITIES 65,000
Loan
Mortgage 20,000
100,000
Total non-current liabilities

CURRENT LIABILITIES 17,000
Account payables 13,000
Bank overdraft
30,000
Total current liabilities
Total owner’s equity & liabilties

Page 37 of 54

Question 4

Classify the items into the following categories :

CA= Current Assets
NCA = Non - Current Assets
CL = Current Liabilities
NCL = Non-Current Liabilities
OE = Owner’s Equity
E = Expenses
R = Revenues

ITEMS CATEGORIES
Cash CA
1. Overdraft bank
2. Fixtures and fittings
3. Rent paid
4. Insurance
5. Vehicles
6. Accrued expenses
7. Creditors
8. Cash in hand
9. Drawing
10. Carriage inwards
11. Carriage outwards
12. Inventories
13. Mortgage
14. Stationary
15. Capital
16. Land and building
17. Loan
18. Import duty
19. Salary
20. Debenture

Page 38 of 54

Question 5
From the given information, please calculate the following :

PARTICULARS DEBIT CREDIT
Sales 256,000
Purchases 150,000 1,500
Return 3,450
Rent 12,000 600
Import duty 8,500
Carriage inwards 6,300
Wages 500
Beginning inventory 6000
Discount 250
Carriage outward 400

Ending inventory , RM 5800 (market value) but RM 5,600 (at cost)

a. Net sales
b. Cost of good sold
c. Gross profit/ loss
d. Net profit/ loss

Page 39 of 54

Question 6

Below are the information taken from the books of AFIQAFNAN PETSHOP on 30 June
2013. You are required to prepare financial statement on 30 June 2013.

Particulars RM

Investment 5,000
Discount received 890
Inventory (1 July 2012) 300
Building 143,240
Interest on saving 750
Vehicles 55,000
Office equipment 10,000
Capital 20,000
Drawing 400
Salary 10,800
Utility 1,200
Overdraft bank 35,000
Cash 48,000
Debtors 3,200
Loan 10,000
Creditors 1,500
Carriage inwards 400
Import duty 600
Purchases 150,000
Sales 360,000

Additional information : Inventory (30 June 2013)
Market value RM 3,250 ,
At cost RM 3,000

Page 40 of 54

Question 7

Mutiara Jati Trading own a furniture business. The following is the trial balance as at 30
June 2017.

Item Debit Credit
Return 500 2,000
Drawing 1,970
Insurance 1,860 11,910
Bad debt 250
Carriage inward 760 5,615
Carriage outward 500
Commission received 7,150
Motor expenses 13,000 155,250
Advertisement 3,410 5,000
Salary 14,000 167,000
Premise 150,300
Utilities 9,780 300
Creditors 354,225
Debtors 7,200
Cash at bank 11,000
Cash in hand 15,595
Rent
Inventory (1/7/2016) 8,400
Sales
Purchases 75,700
Motor vehicles 40,000
Interest on saving
Capital 354,225
Bad debt recovered

Ending inventory – RM 9,000
Please prepare financial statement .

Page 41 of 54

Question 8
The following trial balance is taken from the books of sole trader Alias Enterprise on 31
December 2018.

ALIAS ENTERPRISE

TRIAL BALANCE AS AT 31 DECEMBER 2018

Item Debit (RM) Credit (RM)
Opening inventory, 1 January 2018 45,000 300,100
Purchases 50,000 150
Sales
Return 200 550
Purchase tax 100
Wages 440 100,000
Salaries 6,700 200
Insurance 200
Rental received 50,000
Stationaries 570
Bad debt 200 298,410
Interest on loan 1,000 749,410
Building 300,000
Land 100,000
Motor vehicles 150,000
Loan
Account receivables 10,000
Rent received
Account payables 30,000
Cash in hand 50,000
Cash at bank 5,000
Drawing
Capital 749,410

Inventory on 31st December 2018 – RM 20,000

You are required to :

a. Calculate net income of Alias Enterprise by preparing Statement Of Comprehensive
Income for the year ended 31 December 2018.

b. Illustrate the Statement of Financial Position as at 31 December 2018.

Page 42 of 54

Question 9

Below is the trial balance of Cahaya Sdn. Bhd

Account Debit (RM) Credit (RM)

Vehicles 50,000 47,357

Office equipment 70,000 800
561,898
Debtors 96,140 1,840
150
Creditors
70,000
Bank 3,000

Drawing 13,650
Stock on 1st January 2015 25,340

Rent received

Sales

Purchase 282,330

Purchase return

Sales return 2,150

Interest teceived

Insurance 9,240

Office expenses 25,735

Wages and salary 103,540

Bad debt 920

Capital

Prepare financial statement

Page 43 of 54

TOPIC 6:
ADJUSTMENT

ACCOUNTS

Page 44 of 54

Question 1

Circle the best answer

1. A decrease in provision for doubtful debt account would show that :

a. an increase in net profit c. a decrease in asset

b. a decrease in net profit d. an increase in in liabilities

2. The trial balance of Adib Trading as at 31 December 2017 includes rental expenses

of RM 9,000 from 1st January to 30th September 2017. Identify how much is the

accrued rental expenses ?

a. RM 9,000 c. RM 3,000

b. RM 6,000 d. RM 12,000

3. “Amount that are assets of a business which will be used later but are already paid
for”. This statement refers to ___________

a. accrued expenses c. accrued revenue

b. prepaid expenses d. prepaid revenue

4. James bough a car for RM 20,000 on 1st January 2016. The scrap value is RM 2,000

and its useful life is 10 years. Calculate the depreciation per year.

a. RM 1,600 c. RM 2,000

b. RM 1,800 d. RM 2,200

Page 45 of 54

Question 2

Jati Teguh Trading own a furniture business. The following is the trial balance as at 30 June
2017.

Item Debit Credit
Return 500 2,000
Drawing 1,970
Insurance 1,860 11,910
Bad debt 250
Carriage inward 760 5,615
Carriage outward 500
Commission received 7,150
Motor expenses 13,000 155,250
Advertisement 3,410 5,000
Salary 14,000 167,000
Premise 150,300
Utilities 9,780 300
Creditors 354,225
Debtors 7,200
Cash at bank 11,000
Cash in hand 15,595
Rent
Inventory (1/7/2016) 8,400
Sales
Purchases 75,700
Motor vehicles 40,000
Accumulated depreciation –
354,225
motor vehicles
Capital
Provision for doubtful debt

Additional information :
1. Inventories on 30 June 2017 at cost of RM 5,000
2. An accrued insurance is RM 3,000
3. Bad debt RM2,400 is to be written off.
4. Prepaid salary worth RM2,500
5. Depreciation charged on motor vehicles is 20% on cost.
6. Provision for doubtful debt is RM500

Please prepare financial statement .

Page 46 of 54

Question 3
The following trial balance was extracted from the books of Twin Enterprise. Its financial
year ends on 31 December every year.

TWIN ENTERPRISE

TRIAL BALANCE AS AT 31 DECEMBER 2016

Item Debit (RM) Credit (RM)
Capital 100,000
Opening inventory 35,000
Purchases 75,000 198,000
Sales 2,800
Returns 2,500 62,900
Account receivable 75,000
Account payable 4,500
Rates and taxes 4,200
Commission 5,300 6,000
Discount 3,300 2,500
Insurance 4,600 4,000
Land and building 90,000
Patent 60,000 50,000
General expenses 3,300 430,700
Interest on investment
Provision for doubtful debt 5,000
Rentals 3,000
Cash in hand 50,000
Cash at bank 13,000
Wages and salaries 1,000
Insurance on purchases 500
Freight inwards
Loan – Hone Leong Bank 430,700

Additional information :
i. Closing inventory on 31 December 2016 was RM 8,000.
ii. Accrued commission was RM 250

iii. One of the debtors was declared bankrupt and his debt of RM 2,500 will be written
off.

iv. The provision for doubtful debt is to be adjusted at 2% on account receivable.
v. Unearned rental revenue was RM 850.
vi. Insurance RM 700 was paid in advance.

You are required to :

c. Calculate net profit or net loss of Twin Enterprise by preparing Statement Of
Comprehensive Income for the year ended 31 December 2016.

d. Illustrate the Statement of Financial Position as at 31 December 2016.

Page 47 of 54

Question 4

The following trial balance was extracted from the books of Kajol Enterprise as at 31
December 2018.

Item Debit Credit
Capital 100,000
Opening inventory, I January 2018 35,000
Purchases 75,000 198,000
Sales 2,800
Returns 2,500 62,900
Account Receivable 75,000
Account Payable 4,500
Miscellaneous expenses 4,200
Commission 5,300 6,000
Discount 3,300 2,500
Insurance 4,600 4,000
Land and building 90,000
Office equipment 60,000 50,000
General expenses 3,300
Interest on investment
Provision for doubtful debt 5,000
Rentals 3,000
Cash in hand 50,000
Cash at bank 13,000
Wages and salary 1,000
Insurance on purchases 500
Freight inwards
Loan

Additional information :

a. Closing inventory on 31 December 2018 was RM 8,000.
b. Accrued commission was RM250.
c. One of debtors was declared bankrupt and his debt of RM 2,500 will be written off.
d. Provision for doubtful debt is to be adjusted at 2% on account receivables.
e. Unearned rental revenue was RM850.
f. Insurance RM700 was paid in advance.

Page 48 of 54

You are required to :
1. Compute net profit or net loss for Kajol Enterprise by preparing Statement Of
Comprehensive Income for the year ended 31 December 2018.
2. Illustrate Statement Of Financial Position as at 31 December 2018.

Page 49 of 54

Question 5

The following trial balance is taken from the books of sole trader Alias Enterprise on 31
December 2018.

ALIAS ENTERPRISE
TRIAL BALANCE AS AT 31 DECEMBER 2018

Item Debit (RM) Credit (RM)
Opening inventory, 1 January 2018 45,000 300,100
Purchases 50,000 150
Sales
Return 200 550
Purchase tax 100
Wages 440 100,000
Salaries 6,700 200
Insurance 200
Rental received 50,000
Stationaries 570
Bad debt 200 298,410
Interest on loan 1,000 749,410
Building 300,000
Land 100,000
Motor vehicles 150,000
Loan
Account receivables 10,000
Provision for doubtful debt
Account payables 30,000
Cash in hand 50,000
Cash at bank 5,000
Drawing
Capital 749,410

Additional information :

i. Closing inventory on 31 December 2018 was RM 10,000.
ii. Accrued insurance was RM 200.
iii. Rental which not been received amounted RM 317.
iv. Motor vehicles was depreciated at 10% on cost.
v. Provision for doubtful debt is 1% on account receivables.

You are required to :

a. Calculate net income of Alias Enterprise by preparing Statement Of Comprehensive
Income for the year ended 31 December 2018.

b. Illustrate the Statement of Financial Position as at 31 December 2018.

Page 50 of 54