PEPERIKSAAN AKHIR SEMESTER | SES! 2007/2008 FAKULTI PENGURUSAN PERNIAGAAN DAN PERAKAUNAN Gleaflsls Kiet sion | UNIVERSITI DARUL IMAN | MALAYSIA 6 {| PERAKAUNAN PERNIAGAAN iH KOD KURSUS : MAS 3013 MASA : 9.00 — 12.00 PAGI (3 JAM) TEMPAT : AH 08 Kertas peperiksaan ini mengandungi 14 muka (termasuk MUKA ini) ARAHAN KEPADA CALON : DILARANG MEMBUKA KERTAS SOALAN INI SEHINGGA DIBERITAHU. . Jawab SEMUA soalan di dalam Buku Jawapan yang telah disediakan, Jawapan bagi setiap soalan hendaklah dimulakan di muka surat baru. Sekiranya terdapat percanggahan di antara soalan versi Bahasa Inggeris dan en Bahasa Melayu, sila rujuk versi Bahasa Inggeris. Calon-calon tidak dibenarkan membawa masuk sebarang dokumen/material B ke dewan peperiksaan kecuali dengan kebenaran pengawas.PPP July Session 2007/2008 MAS 3013 QUESTION 1 (23 Marks) Perabot Timur Sdn Bhd applies perpetual inventory system in its books. The company’s adjusted trial balance as at 31 December 2007 is as follows: Perabot Timur Sdn Bhd Adjusted Trial Balance 31 December 2007 Debit Credit RM RM Cash 9,400 Accounts receivable 25,000 Merchandise inventory 84,000 Office supplies 900 Store equipment 75,000 Accumulated depreciation - store equipment 22,000 Office equipment 60,000 ‘Accumulated depreciation -office equipment 15,000 Accounts payable 42,000 Notes payable 10,000 Capital 110,700 Sales 319,000 Sales returns and allowances 16,500 Cost of goods sold 195,000 Sales salaries expense 32,500 Depreciation expense - store equipment 11,000 Depreciation expense - office equipment 7,500 Office supplies expense 1,300 Interest expense 600 Totals 518,700 _518,700 Required: a) From the above adjusted trial balance for the Perabot Timur Sdn Bhd, prepare a multiple-step income statement in good form. (8 marks) b) Prepare the necessary closing entries. (6 marks) ©) Prepare the balance sheet as at 31 December 2007. (9 marks)FPPP July Session 2007/2008 QUESTION 2 (22 Marks) MAS 3013, Kiddo Manufacturing Company involved in manufactures children’s wear. The trial balance as at 31 December 2007 is as follows: Inventory - 1 January 2007: Raw Materials Work in Process Finished good Withdrawals Capital Long term loan Plant and machinery (cost) Motor vehicles ( cost) Accumulated depreciation - Plant and machinery Accumulated depreciation - Motor vehicles Bank Accounts receivable ‘Accounts payable Sales Utilities expenses Purchase return ~ raw materials Sales return Freight - Out Freight - in (raw materials) Purchases ~ direct materials Insurance expenses Wages and salaries - (production department): ~ Direct labor ~ Indirect labor Salaries ( Administrative) Advertising expenses Rent expense ~ factory - office Additional information: 1. Raw Materials Work in Process Finished good RM 8250 5 600 4000 6 400 100 000 50 000 25 000 20 400 5400 460 2400 1600 45 000 7000 15.000 1260 10 000 4.400 7720 1.490 321 380 Ending inventory on 31 December 2007: RM 11,200 RM 3,900 RM 9,500 RM 150 000 18 000 20 000 5.000 10 470 117 210 700 321 380