CONFIDENTIAL AC/JAN2016/ACC106

UNIVERSITI TEKNOLOGI MARA

QUIZ 1 (45 MINUTES)

On 1 December 2015, Mr Zolkifly started DSM Trading which is a sole proprietorship business.
Its main business activity is selling of furniture. Below were transactions for the month of
December 2015 for DSM Trading.

Dec 1 Started business with RM10,000 cash in hand, RM50,000 cash at bank and a
secondhand lorry worth RM80,000.
2 Purchased furniture worth RM25,000 from Home Style Furniture Bhd. on credit.
4 Purchased furniture worth RM2,000 from Modern Deco and paid by cheque.
5 Sold furniture worth RM1,720 to Pn. Aminah on cash. A trade discount of RM20
was given to Pn. Aminah.
10 A piece of furniture worth RM500 was returned to Home Style Furniture Bhd. due
to wrong specification.
13 Sold 10 units of office desks to Pejabat Pelajaran Daerah (PPD) Segamat at a total
price of RM2,500 on credit.
14 Pejabat Pelajaran Daerah Segamat returned 1 unit of the purchased office desk
worth RM250 due to factory damages.
18 The owner took a coffee table worth RM200 from the business display room for his
personal use.
20 Paid RM22,050 for the amount owed to Home Style Furniture Bhd. by cheque and
received cash discount of RM2,450.
25 Paid a total salary of RM2,400 by cash to two workers of DSM Trading.
30 Paid shop rental of RM3,000 by cash.

Required:
a) Record the above transactions in the relevant accounts.
(14 marks)
b) Prepare a trial balance for DSM Trading as at 31 December 2015.
(6 marks)

(Total: 20 marks)