Name :

Id No. / Matrix :
Date :
Subject : Principle of Accounting / BAB1013
Lecturer : Puan Rosnah Binti Mohamad Noor
Mark (%) : /45*10%
Assessment : Quiz 3 (UNIT 2 & 6)
Date submission : 26 September 2019

INSTRUCTION
Answer all questions. You may prepare your answer in this document or create a new
one (WORDS/EXCEL format only).

Question 1 (35 marks)

Trial balance always has equal balances on both sides. It does not mean if the debit
balance of a trial balance is equal to the credit balance, the trial balance is correct.
There are accounting errors which may not affect the totalling of the trial balance.
Discuss with the example SEVEN (7) types of balance and error about this situation.

1
Question 2 (10 marks)
Make journal entries for the transactions
Mr Muthu commenced business on 1st January 2011 with a capital of RM100,000 in
cash. On the same date, he opened A bank account in ADCB and deposited
RM20,000. During the month of January 2011, the following transactions took place:

Date Transaction
January 1 Bought goods for cash RM70,000
January 2 Sold goods to Steve Co. (Credit) RM38,000
January 15 Sold goods for cash RM9,000
January 21 Steve Co. paid by cheque RM35,000
Stationery bill paid by cheque RM2,000
January 22
Telephone bill by cash RM500
 Paid rent by cash RM2,000
January 31  Paid salaries by cash RM3,000
 Withdrew cash personal use RM5,000