霹雳怡保培南独立中学 SM POI LAM (SUWA) IPOH SECOND MONTHLY TEST 2021 BOOKKEEPING AND ACCOUNT Paper 1 DATE: TIME : 6 AUG 2021 1205-1235 (30 MINUTES) NAME：______________________ REG NO:_________________ CLASS：S3ZH INSTRUCTIONS TO CANDIDATES You may use calculator. Do not use staples, paper clips, highlighters, glue or correction fluid. There are 20 questions on this paper. Answer all questions. The total marks of the paper is 20. Do Not Turn This Page Until You Are Told To Do So This paper consists of 5 printed pages Prepared by ： ………………… (KOK KIM WAH) Checked by： ………………… ( MOGANRAJ) 1.
1. An invoice for the purchase of goods on credit, $980, was incorrectly recorded in the purchases journal as $890. Which type of error was made? A commission B complete reversal C original entry D principle 2. Jason provided the following information. non-current assets RM 103 650 inventory RM 4 960 insurance prepaid RM 130 account payables RM 5 380 petty cash RM 100 rent receivable prepaid RM 240 bank overdraft RM 2 900 account receivables RM 5 120 How much was Jason’s capital? A $105 440 B $105 920 C $105 960 D $111 240 3. Why does the owner of a business need to know how much profit he has made? A to calculate interest payable on a bank loan B to calculate cost of sales C to calculate the return on capital D to calculate total expenses 4. Which business document shows all the transactions that have taken place with a customer during a month? A credit note B debit note C invoice D statement 5. Which account could appear in either the debit column or the credit column of a trial balance? A bad debts B bank C drawings D sales 6. The cash book showed a balance in the bank of $1000 Dr. On the same date, the bank statement showed a balance in the bank of $900 Dr. Which could be the reason for this difference? A bank interest received B payments made directly into the trader’s bank account C standing order for property tax paid directly by the bank D unpresented cheque 2.
7. The total of the sales returns journal is posted to the sales returns account. Where will the double entry appear? A bank account B account payables’ accounts C account receivables’ accounts D sales account 8. How is working capital calculated? A current assets – current liabilities B current assets + current liabilities C non-current (fixed) assets + current assets – current liabilities D non-current (fixed) assets + current assets + current liabilities 9. A sole trader compares his results with those of a similar business. Which shows how well expenses are being controlled? A bank balance B cost of sales C gross profit D net profit 10. Linda is a trader who keeps a full set of accounting records. Why should she prepare a trial balance at the end of the financial year? A to calculate her closing capital B to check the accuracy of the sales ledger C to help locate arithmetical errors D to prove that the ledger is free from errors 11. On 1 March 2019, a trader paid rent of $1200 covering the period 1 March 2019 to 31 May 2019. The trader’s financial year ends on 31 March 2019. What balance was brought down on the rent payable account on 1 April 2019? A credit $400 B credit $800 C debit $400 D debit $800 12. Which would not appear in a sales ledger control account? A bad debts written off B cash discount allowed C customer’s cheque dishonoured D allowance for doubtful debts 3.
13. What does not appear in a statement of changes in equity? A debenture interest paid B interim dividend paid on ordinary shares C issue of ordinary shares D transfer to general reserve 14. Which cost would be included in prime cost in a manufacturing account? A depreciation of machinery B factory manager’s salary C insurance D royalties 15. Which does not reduce the owner’s capital? A business expenses paid using a personal cheque B cash withdrawn from the business bank account for personal use C goods taken from inventory for personal use D personal expenses paid using business cash 16. What would be recorded by a debit entry in a ledger account? A a decrease in an asset B an increase in a liability C an increase in an asset D an increase in capital employed 17. What causes computer equipment to depreciate? A depletion B economic reasons C passage of time D physical deterioration 18. Which item is revenue expenditure for a manufacturer? A buying new office equipment B extending the factory C purchasing motor vehicles D repairing machinery 4.
19. Which items are used to calculate cost of goods sold? A carriage on purchases, carriage on sales, net purchases, opening inventory B carriage on purchases, closing inventory, net purchases, opening inventory C carriage on sales, closing inventory, net purchases, opening inventory D carriage on sales, closing inventory, net purchases, sales returns 20. James was late paying an invoice issued by Henry. Henry charged James interest on the overdue amount. Which entry would be made in Henry’s control accounts? A credit purchases ledger control account B credit sales ledger control account C debit purchases ledger control account D debit sales ledger control account 5.
