EXERCISE 4 – TRIAL BALANCE Puan Anita, the owner of Anita Enterprise has prepared the trial balance for the year end on 31 December 2021. Below is the improper trial balance prepared by Puan Anita. Debit (RM) Credit (RM) Capital 39,468 Sales 237,942 Administrative expenses 7,100 Cash in hand 9,480 Salaries expenses 18,700 Cash at bank 13,562 Office equipment 16,000 Purchases 118,435 Commission received 8,320 Motor vehicles 21,453 Account Receivable 17,400 Account Payable 19,000 Discount allowed 7,000 Opening stock 25,600 Land and building 50,000 325,562 283,898 You are required to show the correct trial balance as at 31 December 2021.
ANSWER 4 Anita Enterprise Trial Balance As At 31/12/2021 Debit (RM) Credit (RM) Capital 39,468 Sales 237,942 Administrative expenses 7,100 Cash in hand 9,480 Salaries expenses 18,700 Cash at bank 13,562 Office equipment 16,000 Purchases 118,435 Commission received 8,320 Motor vehicles 21,453 Account Receivable 17,400 Account Payable 19,000 Discount allowed 7,000 Opening stock 25,600 Land and building 50,000 304,730 304,730
EXERCISE 5 – TRIAL BALANCE Prepare a trial balance as at 31 December 2021 RM Capital (1 Jan 2021) 5,000 Drawings 2,400 Furniture 750 Equipment 1,000 Carriage on purchase 440 Account Receivable 2,540 Account Payables 2,300 Sundry Expenses 870 Inventories (1 Jan 2021) 2,030 Purchase 23,220 Revenue 31,850 Returns Inwards 60 Return Outwards 570 Commission received 530 Salaries 6,530 Rent and rates 430 Electricity 110 Insurance 440 Cash in hand 170 Bank Overdraft 740
ANSWER 5 Trial Balance As At 31/12/2021 RM RM Capital (1 Jan 2021) 5,000 Drawings 2,400 Furniture 750 Equipment 1,000 Carriage on purchase 440 Trade Receivable 2,540 Trade Payables 2,300 Sundry Expenses 870 Inventories (1 Jan 2021) 2,030 Purchase 23,220 Revenue 31,850 Returns inwards 60 Return Outwards 570 Commission received 530 Salaries 6,530 Rent and rates 430 Electricity 110 Insurance 440 Cash in hand 170 Bank Overdraft 740 TOTAL 40,990 40,990
EXERCISE 6 – TRIAL BALANCE The following balance are taken from the accounting books of Kelah Bhd on 31 December 2021 RM Cash 6,000 Bank overdraft 7,500 Trade Receivable 37,500 Trade Payable 60,000 Capital 375,000 Drawings 9,000 Sales 975,000 Purchases 510,000 Inventory 1 Jan 2021 36,000 Salaries expenses 135,000 Advertising expense 12,000 Insurance expense 18,000 Motor van 81,000 Land and building 525,000 Equipment 57,000 Stationery expense 1,500 Motor van repairs 4,500 Bank loan 120,000 Machinery 105,000
ANSWER 6 Kelah Bhd Trial Balance as at 31 December 2021 RM RM Cash 6,000 Bank overdraft 7,500 Trade Receivable 37,500 Trade Payable 60,000 Capital 375,000 Drawings 9,000 Sales 975,000 Purchases 510,000 Inventory 1 Jan 2021 36,000 Salaries expenses 135,000 Advertising expense 12,000 Insurance expense 18,000 Motor van 81,000 Land and building 525,000 Equipment 57,000 Stationery expense 1,500 Motor van repairs 4,500 Bank loan 120,000 Machinery 105,000 TOTAL 1,537,500 1,537,500
EXERCISE 7 – TRIAL BALANCE Capital Account Rent Account 25 Jan Bank 50,000 25 Jan Bank 3,000 Bank Account Other Payable Account (Ace Interiors) 25 Jan Capital 50,000 25 Jan Rent 3,000 30 Jan Bank 5,000 25Jan Shop Fittings 12,000 26 Jan Equipment 4,500 30 Jan Ace Interiors 5,000 Other Payable Account (ABC Limited) Equipment Account 29 Jan Equipment 3,500 26 Jan Bank 4,500 29 Jan ABC Ltd 3,500 Shop Fittings Account 25 Jan Ace Interiors 12,000 *You are required to balance off the following account and prepare Trial balance on 31 January 2022
ANSWER 7 Capital Account Rent Account 31 Jan Balance c/f 50,000 25 Jan Bank a/c 50,000 25 Bank a/c 3,000 31 Balance c/f 3,000 1 Feb Balance b/f 50,000 1/2 Balance b/f 3,000 Bank Account Other Payable Account - Ace Interiors 25 Jan Capital a/c 50,000 25 Jan Rent a/c 3,000 30 Bank 5,000 25 Shop fittings a/c 12,000 26 Equipment a/c 4,500 30 Ace Interiors 5,000 31 Balance c/f 7,000 31 Balance c/f 37,500 12,000 12,000 50,000 50,000 1 Balance b/f 7,000 1 Feb Balance b/f 37,500 Other Payable Account - ABC Limited Equipment Account 31 Balance c/f 3,500 29 Equipment a/c 3,500 26 Jan Bank a/c 4,500 1 Balance b/f 3,500 29 Jan ABC Ltd 3,500 31 Balance c/f 8000 8,000 8000 1 Feb Balance b/f 8,000 Shop Fittings Account 25 Jan Ace Interior 12,000 31 Balance c/f 12,000 1 Feb Balance b/f 12,000
ANSWER 7 Trial Balance as at 31st January 2022 Debit RM Credit RM Capital 50,000 Bank 37,500 Equipment 8,000 Shop Fittings Accounts 12,000 Rent Account 3,000 Other Payable - BCD Interiors 7,000 Other Payable - ABC Limited 3,500 60,500 60,500
EXERCISE 8 – TRIAL BALANCE Fill in the blank with the correct answer Syafi Trading Trial Balance as at 31 December 2021 Debit(RM) Credit(RM) Motor vehicle 30,000 Loan – Maybank 10,000 Rent received 4,000 Discount allowed 2,000 Sales 3,000 Purchase 8,000 Capital (c) (a) (b)
ANSWER 8 Fill in the blank with the correct answer Syafi Trading Trial Balance as at 31 December 2021 Debit(RM) Credit(RM) Motor vehicle 30,000 Loan – Maybank 10,000 Rent received 4,000 Discount allowed 2,000 Sales 3,000 Purchase 8,000 Capital 23,000 40,000 40,000
EXERCISE 9 – TRIAL BALANCE Below are the account balances from Axis Glassware Trading on 31 January 2022. Illustrate the trial balance as at 31 January 2022 Account RM Bank overdraft 5,200 Capital 40,000 Carriage inwards 900 Carriage outwards 1,230 Cash 1,150 Commission received 1,450 Account Payable 5,915 Account Receivable 5,345 Discount allowed 265 Discount received 400 Drawings 600 Duty on purchase 875 Insurance 480 Investment 50,000 Interest on loan 600 Interest on investment 400 Loans 25,000 Purchases 8,765 Rental expenses 6,000 Repair and maintenance 5,000 Salaries 9,500 Sales 12,345
ANSWER 9 Axis Glassware Trading Trial balance as at 31 January 2022 Account Debit (RM) Credit (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 purchase 875 Insurance 480 Investment 50,000 Interest on loan 600 Interest on investment 400 Loans 25,000 Purchases 8,765 Rental expenses 6,000 Repair and maintenance 5,000 Salaries 9,500 Sales 12,345 TOTAL 90,710 90,710
EXERCISE 10 – TRIAL BALANCE The following is information obtained from the book of Saujana Trading. You are required to: a)Balance all ledger accounts b)Prepare the trial balance Capital Account Machineries Account Maria Ltd. Account (Creditor) 2022 RM 2022 2022 RM 2022 RM 2022 RM 2022 RM 1-JanCash 1,000 2-JanBank 5,000 25-JanBank 2,375 20-JanSupplies 2,500 Bank 9,000 Loan- Jaya Finance 25,000 Disc received 125 Company Cash Account Loan - Jaya Finance Company 2022 2022 RM 2022 RM 1-JanCapital 1,000 28- JanRent 700 2-Jan Machinerie s 25,000 Supplies Account 2022 RM 2022 RM Bank Account 14-JanBank 1,200 2022 2022 20Maria Ltd. 2,500 1-JanCapital 9,000 1-JanMachineries 5,000 6Fixtures 3,000 14Supplies 1,200 25Maria Ltd. 2,375 Discount Received Account 2022 RM 2022 RM 25-JanMaria Ltd. 125 Fixtures Account 2022 2022 6-JanBank 3,000 Rent Account 2022 RM 2022 RM 28-JanCash 700
ANSWER 10 Capital Account Machineries Account Maria Ltd. Account (Creditor) 2022 RM 2022 2022 RM 2022 RM 2022 RM 2022 RM Jan01Cash 1,000 2-JanBank 5,000 25-JanBank 2,375 20-JanSupplies 2,500 c/f 10,000 Bank 9,000 Loan- Jaya Finance 25,000 c/f 30,000 Disc received 125 10,000 10,000 Company 2,500 2,500 b/f 10,000 b/f 30,000 Cash Account Loan - Jaya Finance Company 2022 2022 RM 2022 RM 1-JanCapital 1,000 Jan22Rent 700 c/f 25,000 2-Jan Machinerie s 25,000 c/f 300 1,000 1,000 b/f 25,000 b/f 300 Supplies Account 2022 RM 2022 RM Bank Account 14-JanBank 1,200 2022 2022 20Maria Ltd. 2,500 c/f 3,700 1-JanCapital 9,000 1-JanMachineries 5,000 3,700 3,700 6Fixtures 3,000 b/f 3,700 14Supplies 1,200 25Maria Ltd. 2,375 c/f 2,575 Discount Received Account 11,575 11,575 2022 RM 2022 RM b/f 2,575 c/f 125 25-JanMaria Ltd. 125 Fixtures Account b/f 125 2022 2022 Bank 3,000 c/f 3,000 Rent Account b/f 3,000 2022 RM 2022 RM 28-JanCash 700 c/f 700 b/f 700
ANSWER 10 Saujana Trading Trial Balance as at 31 January 2022 Debit(RM) Credit(RM) Capital 10,000 Cash 300 Bank 2,575 Fixtures 3,000 Machineries 30,000 Loan- Jaya Finance Company 25,000 Supplies 3,700 Discount received 125 Rent 700 TOTAL 37,700 37,700
REFERENCES 1) Amla Abu, Fatimah Abd Rauf, Radziah Mahmud, (2017). Financial Accounting for Non Accounting Students. (6th ed.) McGraw-Hill, Selangor. 2) Heng Seai Kei, (2013). Fundamentals of Accounting. Oxford Fajar Polytechnic Series. 3) Mohd Azmi Mh Busra, Norhidayah Mohd Salleh, (2020). Basic Accounting For Non Accounting Students. Perkasa Ummah Sdn. Bhd.
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