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  • UKMM1043 Basic Economics, Accounting and Management Tutorial 4 (Suggested Answer)

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    This document provides accounting information for several businesses: 1) It lists the four main users of accounting information as managers, owners, tax authorities, and customers. 2) It shows the assets and liabilities for one business including motor vehicles, premises, inventory, and a bank overdraft. 3) It provides a balance sheet as of November 30, 2011 for Fatimah's business including assets of RM34,945 and liabilities of RM2,800. 4) It also shows Kok Heng's balance sheet changing between December 7 and an earlier date, with assets increasing to RM35,405 and liabilities decreasing to RM1,150.

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    beam tutorial 4 answer

    Original Title

    BEAM Tutorial 4(a)

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    This document provides accounting information for several businesses: 1) It lists the four main users of accounting information as managers, owners, tax authorities, and customers. 2) It shows the assets and liabilities for one business including motor vehicles, premises, inventory, and a bank overdraft. 3) It provides a balance sheet as of November 30, 2011 for Fatimah's business including assets of RM34,945 and liabilities of RM2,800. 4) It also shows Kok Heng's balance sheet changing between December 7 and an earlier date, with assets increasing to RM35,405 and liabilities decreasing to RM1,150.

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    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
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    8 views2 pages

    UKMM1043 Basic Economics, Accounting and Management Tutorial 4 (Suggested Answer)

    Uploaded by

    kenneth loh
    This document provides accounting information for several businesses: 1) It lists the four main users of accounting information as managers, owners, tax authorities, and customers. 2) It shows the assets and liabilities for one business including motor vehicles, premises, inventory, and a bank overdraft. 3) It provides a balance sheet as of November 30, 2011 for Fatimah's business including assets of RM34,945 and liabilities of RM2,800. 4) It also shows Kok Heng's balance sheet changing between December 7 and an earlier date, with assets increasing to RM35,405 and liabilities decreasing to RM1,150.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    UKMM1043 Basic Economics, Accounting and Management

    Tutorial 4 (Suggested Answer)


    1. The four users of accounting information are (choose only 4 and relevant description):
    (a) Managers;
    (b) Owners;
    (c) Tax authority;
    (d) Customers;
    (e) Suppliers; and
    (f) Employees.
    2. Refer to Lecture 3 slide no. 10.

    3.

    4.
    Assets
    Motor vehicles
    Premises
    Inventory
    Other debtors
    Cash in hand
    Plant and machinery

    Liabilities
    Trade creditors
    Bank overdraft
    Loan fro Kamal

    5.

    Fatimah

    6. Kok Heng

    As at 30 Nov
    2011
    (a)
    (b)
    (c)
    (d)
    (e)

    ASSETS
    =
    LIABILITY
    +
    Furniture
    RM 6,200
    Creditors RM 2,800
    Motor vehicle
    7,300
    Inventory
    8,100
    Debtors
    4,050
    Bank
    9,100
    Cash
    195
    34,945
    2,800
    Equipment
    Inventory
    Bank
    Bank
    Bank
    Cash
    Debtors
    Bank
    Cash

    As at 7 Dec 2011

    + 110
    + 380
    - 380
    - 1,150
    + 640
    + 90
    -730
    + 1,300
    + 200
    35,405

    Creditors

    + 110

    Creditors

    - 1,150

    Assets
    RM200,000
    +150,000
    350,000

    = Liabilities
    = RM120,000
    = (20,000)
    +100,000

    RM

    Capital
    1,760

    7.

    Beginning
    Change
    Ending

    EQUITY

    + Capital
    RM80,000
    +170,000
    +250,000

    + 1,500
    ?

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