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Assignment BAAD2033 Feb 2017
Assignment BAAD2033 Feb 2017
Assignment BAAD2033 Feb 2017
February 2017
Question 1
Debit(RM) Credit(RM)
Interest 15,000
Sales commission 95,000
Office expenses 175,000
Selling expenses 115,800
Insurance 63,200
Factory rent 145,000
Hire of special machine 12,500
Light and power 82,500
Factory supplies 95,000
Indirect labour 180,000
Direct labour 800,000
Purchases-raw materials 1,200,000
Sales 3,100,000
10% loan 150,000
Account payables 22,500
Accumulated depreciation:
Plant and machinery 54,000
Office equipment 25,000
Cash at bank 36,000
Account receivables 70,500
Allowance for doubtful debts 3,600
Beginning inventory of finished goods 120,000
Beginning inventory of raw materials 30,000
Plant and machinery 300,000
Office equipment 135,000
Capital 315,400
3,670,500 3,670,500
Additional information:
(1) All insurance, light and power are charged to factory operations.
(2) At 31 December 2015 insurance paid in advance was RM3,200.
(3) At 31 December 2015 lighting unpaid was RM1,200.
(4) Inventory as at 31 December 2015 :
Raw materials RM25,200
Finished goods RM125,800
(5) Depreciation on plant and machinery is to be provided at 10% on cost.
(6) Depreciation on office equipment is to be provided at 15% on cost.
REQUIRED:
a) Prepare the Manufacturing Account for the year ended 31 December 2015.
(10 Marks)
b) Prepare a Statement of Profit and Loss for the year ended 31 December 2015.
(8 Marks)
c) Prepare Statement of Financial Position (Balance Sheet) as at 31 December 2015.
(12 Marks)
(Total: 35 Marks)
Question 2
Panjang and Pendek, whose year end is 30 June , are involved in business as food
wholesalers. Their partnership deed states that:
ii) Depreciation by the straight line method is 10% per annum on plant and machinery and
20% per annum on motor vehicles. The amount of depreciation for computer is RM326.
iii) Included in warehouse wages are drawings of RM6,000 by Panjang and RM8,000 by
Pendek on 30 June 2013.
iv) The provision for doubtful debts as at 30 June 2013 is to be RM180.
vi) Sales revenue included goods that were returned at a price of RM200.
vii) Rates prepaid and electricity accrued as at 30 June 2013 amounted to RM34 and RM82
respectively.
Required:
a) Prepare a statement of profit and loss and appropriation accounts for the year
ended 30 June 2013.
(30 marks)
b) Prepare a statement of financial position as at 30 June 2013.
(10 marks)
(Total: 40 Marks)
Question 3
The following is a summary of Dorinas bank accounts for the year ended 31 December 2013:
RM RM
Dorinas assets and liabilities at the beginning and at the end of the year are shown as below:
1/1/2013 31/12/2013
RM RM
Required: