1 Do Not Turn Over This Page Until You Are Told To Do So 霹雳怡保培南独立中学 SM POI LAM (SUWA) IPOH FIRST MONTHLY TEST 2023 BOOK-KEEPING AND ACCOUNTS DATE : 22 ND MAR 2023(WEDNESDAY) TIME : 1405 - 1535 (1HOUR 30MINUTES) NAME: REG. NO: CLASS: S1ZH READ THESE INSTRUCTIONS FIRST There are two parts questions Part A objective 20 questions and Part B subjective 3 question. Answer all the questions in Part A and B (question 1 and 2) on the question paper. Answer question 3 on the answer sheet provided. Do not use staples, paper clips, highlights, glue or connection fluid. Write in Blue or Black pen only. You may use non-programmable calculator. The total mark for this paper is 100. This paper consists of 9 printed pages (including this page) Prepared by: Checked by: ….…………………. ….………………… ( MR.LEE KIN FAI ) (MR.MOGANRAJ )
2 Part A: There are 20 multiple choice questions. Choose the right answer. Answer all the questions. [40%] 1. Which of the following is true for the double-entry book-keeping? A. Is the process of making a First entry and a Double entry for each transaction B. Is the process of making an Assets entry and a Liabilities entry for each transaction C. Is the process of making an Inside entry and an Outside entry for each transaction D. Is the process of making a Debit entry and a Credit entry for each transaction 2. - entry bookkeeping means that every transaction will affect two or more accounts. A. First B. Double C. Triple D. Fourth 3. A amount of will appear on the left side of a T-account. A. Debit B. Credit C. Debit and Credit D. None of the above 4. When a check is written, a cash account should be . A. Debited B. Credited C. Debited and Credited D. None of the above 5. Liability accounts will normally have balances. A. Debit B. Credit
3 C. Debit and Credit D. None of the above 6. Revenue accounts will normally have balances. A. Debit B. Credit C. Debit and Credit D. None of the above 7. The bookkeeping accounting equation is Assets= Liabilities + Owner’s . A. Asset B. Liabilities C. Capital D. Equity 8. Which of the following is Asset? A. Loan from bank B. Trade payables C. Cash in hand D. Wages and Salaries 9. Which of the following is Liabilities? A. Inventory B. Furniture and fixtures C. Bank Loan D. Motor vehicle 10. The money that owed to the outsider is? A. Liabilities B. Asset
4 C. Capital D. Owner’s Equity 11. Asset= RM60,000 Liabilities= RM32,000 Owner’s equity=? Calculate the Owner’s equity. A. RM92,000 B. RM86,000 C. RM74,000 D. RM28,000 12. Asset=? Liabilities= RM16,000 Capital= RM34,000 Calculate the Asset. A. RM70,000 B. RM50,000 C. RM18,000 D. RM60,000 13. Asset= RM50,000 Owner’s equity= RM25,000 Liabilities=? Calculate the Liabilities A. RM35,000 B. RM20,000 C. RM25,000 D. RM30,000
5 14. State the double entry: Deposit cash into bank A.Debit: Bank Credit: Cash B. Debit: Bank Credit: Capital C. Debit: Cash Credit: Bank D. Debit: Capital 15. Samantha bought goods by cheque. Name the 2 account involve A. Goods and Samantha B. Purchases and Bank C. Goods and Bank D. Purchases and Samantha 16. Jessie is an owner of the bakery’s shop. She took goods costing RM4,000 for her own use. Account to be debited Account to be credited A Drawings Inventory B Drawings Purchases C Inventory Drawings D Purchases Drawings 17. Bought in Machinery to the business by cheque Account to be debited Account to be credited A Machinery Cheque B Machinery Bank C Bank Machinery D Cheque Bank 18. What transaction is represented by the following entries Debit: Bank Credit: Account Receivables
6 A. The sale of goods on credit to a supplier B. The purchase of goods on credit from a supplier C. Receive of cheque from a credit customer D. Payment by cheque to a credit supplier 19. State the effect of the following transaction on accounting equation: Repayment of the loan by cheque A. Decrease liability, Increase asset B. Decrease liability, Decrease asset C. Increase liability, Decrease asset D. Increase liability, Increase asset 20. When owner withdrew cash for personal use, what will the effect on its accounting equation. A. decrease asset, decrease liability B. decrease asset, decrease equity C. increase asset, increase liability D. increase asset, increase equity Answer all the multiple choice question using space provided below. 1. 6. 11. 16. 2. 7. 12. 17. 3. 8. 13. 18. 4. 9. 14. 19. 5. 10. 15. 20.
7 Part B. There are four structure question. Answer all the question.[60%] Question 1 Please tick () for the correct accounting elements. [10%] Assets Liabilities Equity Income Expenses Inventory Capital Purchases Wages Motor Vehicle Account receivable Account payable Sales Bank Loan Cash at bank
8 Question 2 You are required to complete the table below. Showing the accounts to be debited and credited. [20%] Transactions Accountsto be Debited Reasons Accountsto be Credited Reasons Example : Take out cash and put into the business bank account Bank Asset Cash Asset A. Sold goods on credit to Mr Wee B. Pay salaries to staff by cheque C. Receive cheque as a loan D. Bought motor vehicle and paid by cheque E. Purchase goods from Mr Ong by cash F. Paid motor expenses by cash G. Paid insurance by cheque H. Repayment of loan by cheque I. Cheque received from sale of goods
9 Question 3 You are required to prepare a Cash account to record the below transactions, and balance off the account. [30%] Year 2022 RM Mar-01 Cash in hand 5,000 2 Bought fixtures and fittings for cash 200 3 Paid motor expenses for cash 300 7 Cash sales 500 10 Paid rental for cash 200 14 Sold goods for cash 400 18 Received cash from Liew as a loan 100 24 Paid stationery for cash 150 27 Paid salaries for cash 350 30 Paid off the loan from Liew by cash 100 31 Received cash from sales 450
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