ACC407 1

QUESTION 1
The following trial balance was extracted from the books of Cahaya Cinta Amsyar Enterprise
as at 31 December 2022:

Particular Debit Credit

Premises 60,000
Furniture and fittings 43,500
Motor Vehicles 28,600
Capital 130,000
Investment 30,000
Accumulated depreciation as at 1 January 2022:
Furniture and fittings 3,480
Motor Vehicles 2,860
Bank 8,000
Cash 11,480
Account receivable and Account payable 12,750 13,880
General expenses 690
Carriage inwards 1,110
Dividend received 3,740
Discount 450 1,620
Drawings 5,000
Carriage outwards 2,120
Interest received on investment 12,000
Insurance 630
Salaries and wages 5,150
Bank overdraft 42,300
Purchases and sales 50,600 60,870
Return inwards 2,850
Return outwards 1,560
Inventory as at 1 January 2022 8,000
Rent 1,000
Insurance on purchases 300
Bank charges 80
272,310 272,310

Inventory as at 31 December 2022 was valued at RM15,400.

Required:

a) Prepare a Statement of Profit or Loss for the year ended 31 December 2022.
b) Prepare a Statement of Financial Position as at 31 December 2022.

SLAT
ACC407 2

QUESTION 2
The following is list of account balances of Opah Leha Enterprise for the year ended 31
December 2019:

Particular Debit Credit

Land and building 80,000
Furniture and fittings 52,000
Motor Vehicles 34,000
Capital 90,000
Fixed Deposit 10,000
Accumulated depreciation as at 1 January 2019:
Furniture and fittings 6,240
Motor Vehicles 1,700
Bank 8,000
Cash 14,700
Account receivable and Account payable 13,500 12,280
General expenses 820
Carriage inwards 1,460
Dividend received 3,960
Discount 1,750 1,550
Drawings 3,480
Carriage outwards 2,120
Commission received 12,240
Insurance 740
Salaries and wages 6,600
Long term loan 98,900
Purchases and sales 33,600 51,870
Return inwards 2,800
Return outwards 1,560
Inventory as at 1 January 2019 12,200
Rent 1,300
Insurance on purchases 410
Duty on purchases 240
Bank charges 580
280,300 280,300

Inventory as at 31 December 2019 was valued at RM21,200.

Required:

a) Prepare a Statement of Profit or Loss for the year ended 31 December 2019.
b) Prepare a Statement of Financial Position as at 31 December 2019.

SLAT