AA015 SESI 2021/2022 SULIT

PRACTICAL TEST
(40 minutes)

Create a company using your own full name e.g.: Ahmad Izuddin Sdn Bhd. The company
financial year starts at 1st January 2021 and ends at 31 December 2021. The business company
registration number is MAxxxxxxxxxx(Matric No.) with business address at 123, CBD 2,
63000 Cyberjaya, Selangor. The main business is kitchen hardware.

Please follow the guidelines.

Note: Company registration number is your student matric number.

1. Company Profile Setting

Company Name : <Student Full Name>
Matric No. : <Student Matric No.>
Serial No. : <Student Matric No.>
Address : 123, CBD 2, 63000 Cyberjaya, Selangor.
Account Period : Starting Date [01/01/2021] and Ending Date [31/12/2021]
Tel No. : <Student H/P No>

1.1 Customer Opening Balance

a) Create customer master for Exora Sdn. Bhd. The customer code is EX001.
b) Key in opening balance for Exora Sdn. Bhd. as at 31/12/2020, amount of
RM6,000(GL Code:99998), Reference No.: INVOICE OB.

1.2 Supplier Opening Balance

a) Create supplier master for Persona Sdn. Bhd. Supplier code is PS001.
b) Key in opening balance for Persona Sdn. Bhd. as at 31/12/2020, amount of
RM5,000(GL Code:99999), Reference No. INVOICE OB.

2. Account Chart
Add new General ledger codes as follows:
Account Account Name Account Type
Code
72900 Electricity Expense
71200 Salary Expense
78600 Store Rental Expense
25110 Accumulated Depreciation- Non-current Asset
Motor Vehicle

2
SULIT
AA015 SESI 2021/2022 SULIT

3. Account Opening Balance

Date : 31/12/2020
Description : OB/2021 – Opening Balance for year 2021
Reference GL Code Account Debit (RM) Credit (RM)
No.
OB/2021 40067 Retained Earning 7,520.00
OB/2021 41100 Share Capital 45,000.00
OB/2021 12100 Account Receivable 6,000.00
OB/2021 25100 Motor Vehicles 34,800.00
OB/2021 25110 Accumulated Depreciation - 3,480.00
motor vehicles
OB/2021 31100 Accounts Payable 5,000.00
OB/2021 11100 Cash 5,200.00
OB/2021 11310 Bank 15,000.00

4. The company make cash book payment for store rental (by CHEQUE)

Bank Cheque Date Payment Description Bill GL Amount

Code No. To No. Code (RM)
11310 892600 27/01/2021 Wisma Store Rental 3536 78600 750.00
Belia Jan-2021

5. The Company make payment for electricity bill (by CASH)

Bank Cheque Date Payment Description Bill No. GL Amount

Code No. To Code (RM)
11100 CASH 29/01/2021 TNB Electricity - 256514 72900 800.00
Jan 2021

6. Purchase 30 steel kithen racks from Persona Sdn. Bhd.

Supplier Ref. No. Date Description GL Code Amount (RM)

Code
PS001 D38110 12/01/2021 STEEL KITCHEN 61100 15,000.00
RACK
(30 unit)

6. On 20 January 2021, the company sells 25 steel kithen racks to Exora Sdn. Bhd.

Customer Ref. No. Date Description GL Code Amount (RM)

Code
EX001 5712 20/01/2021 STEEL KITCHEN 51100 21,250.00
RACK
(25 unit)

3
SULIT
AA015 SESI 2021/2022 SULIT

6.1 On 22 January 2021, the company sells THREE Steel Kitchen Rack by CASH.
Customer Ref. No. Date Description GL Code Amount (RM)
Code
AK003 4321 22/01/2021 STEEL KITCHEN 51100 2,550.00
RACK
(3 unit)

7. Receipt payment from customer

On 28 January 2021, Exora Sdn. Bhd. made payment amount RM11,220 for invoice
5712

Customer Date Bank Description Cheque Amount (RM)

Code Code No.
EX001 28/01/2021 11310 Receipt for invoice 224080 11,220.00
5712

8. Purchase 10 kitchen sink from Saga Sdn. Bhd.

Create supplier master for Saga Sdn. Bhd. The supplier code is SG001.

Supplier Ref. No. Date Description GL Code Amount (RM)

Code
SG001 KS5674 27/01/2021 Kitchen Sink 61100 3,000.00
(10 unit)

9. Make payment to Supplier

On 29 January 2021, the company make payment by cheque to supplier, Persona Sdn.
Bhd.

Supplier Date Bank Description Cheque Amount

Code Code No. (RM)
PS001 29/01/2021 11310 Payment INV- 802693 5,000.00
OB

10. Other Journal Posting

Motor vehicles is depreciated at RM3,480 per year and recorded at 31st Jan 2021 as
below.

Reference Description GL Code Debit (RM) Credit (RM)

MV/Dep Motor vehicles – depreciation- 72000 290.00
2021 Jan
MV/Dep Motor vehicle – accumulated 25110 290.00
2021 depreciation - Jan

4
SULIT
AA015 SESI 2021/2022 SULIT

11. Question Requirement:

a) What is the total liability and capital in Statement of Financial Position as at 31 January
2021?

__________________

b) How much net profit or loss the company made as 31 January 2021?

__________________

c) What is bank account balance and cash account balance as at 31 January 2021?

Bank: __________________

Cash: __________________

d) How much Exora Sdn. Bhd. owe us at 31 January 2021? (Customer Ledger)

___________________

e) How much we owe to Persona Sdn. Bhd. as at 31 January 2021? (Supplier Ledger)

___________________

Updated 9/11/2021

5
SULIT