Name: Subject Code Title:

Student ID: Programme/Year of Study: Tutorial Group:

KUALA LUMPUR
ANSWER SHEETS

Name : Teng Hong Lok Yin

Student ID No : 20WBD00965
Subject Code & Title : ABFA1163 & FINANCIAL ACCOUNTING II
Programme of Study : DEM131
Tutorial Group : 1

INSTRUCTIONS TO CANDIDATES

1. You are required to download this Microsoft Excel Answer Booklet and use it on your
desktop.
2. You are required to type your answers for ALL the questions using the font type of Times
New Roman and the font size of 12.
3. You will need to open your Google Drive to do some settings. Click on the ‘Settings’ on
Google Drive, and select the first option ‘Settings’.  
4. In the ‘Settings’ window, under the ‘General’ section, uncheck/untick the box for ‘Convert
uploads’. This is to prevent your Microsoft Excel Answer Booklet from being automatically
converted into a Google spreadsheet.
5. Your Microsoft Excel Answer Booklet should be named using your full name, followed by the
subject code.
6. Once you have completed typing your answers, upload your Microsoft Excel Answer Booklet
into your Google Forms.
7. Click on the Google Form attached in the Assignment section of the Google Classroom to
register yourself.
8. At the ‘Answer’ section, click ‘Add File’ to upload your Microsoft Excel Answer Booklet.
Then click ‘Submit’.
9. Submission in Google Form will be closed at 30 April 2021, 12.30PM sharp. 
10. Any late submission will not be accepted or marked.

FOR EXAMINER'S USE ONLY

QUESTION
MARKS
NUMBER
INTERNAL EXTERNAL
QUESTION 1 0
QUESTION 2 0
QUESTION 3 0
QUESTION 4 0

TOTAL 0
Name:
Student ID No:
Subject Code & Title: ABFA1163 & FINANCIAL ACCOUNTING II
Programme of Study: DEM131
Tutorial Group: 1

Type answers on this side of the page only This column is for
marker’s use only
(A)
(a) Trade Receivables Control Account
Date Date RM
2020 2021
Feb-01 Balance b/d 91800 Jan-31 Bank 337800
2021 31 Return Inwards 1400
Jan-31 Sales 361700 31 Discount Allowed 900
31 Balance c/d 113400
453500 453500
2021
Feb-01 Balance b/d 113400

Total Sales = 414600

Trade Payables Control Account

Date RM Date RM
2021 2020
Jan-31 Bank 179300 Feb-01 Balance b/d 69400
Return Outwards 700 2021
Discount Received 1100 Jan-31 Purchases 199300
Balance c/d 87600
268700 268700
2021
Feb-01 Balance b/d 87600

Total Purchases = RM315,300

(b) Trading Account for the year ended 31 January 2021

RM RM
Sales 414600

Less: Cost of good sold

Opening Inventories 105300
Purchases 315300
Cost of goods avalaible for sales 420600
Less: Closing Inventories -88920 -331680
Gross Profit 82920
(B) Denise
(a) Revised Cash Book
2021 RM 2021 RM
Mar-31 Balance b/d 35360 Mar-31 Dishonoured cheque 1472
Interest received 1320 Bank Charges 344
Error cheque 120 Standing Order 2000
Balance c/d 32984

36800 36800

Apr-01 Balance b/d 32984

(b) Denise
Bank Reconcilation statement as at 31 March 2021
RM RM
Balance as per bank statement 17420
Add: Uncredit Lodgement 25520
42940
Less: Unpresented cheques
Cheque
Error by the bank 9440
Balance as per Revised Cash Book 516 9956
32984

0
Name:
Student ID No:
Subject Code & Title: ABFA1163 & FINANCIAL ACCOUNTING II
Programme of Study: DEM131
Tutorial Group: 1

Type answers on this side of the page only This column is for
marker’s use only
(A)
(a)
FIFO Good Received Good Issued Balance
Date Unit @ RM Unit @ RM Unit @ RM
Jan-01 200 50 10000
Jan-02 300 60 18000 300 60 18000
200 50 10000
300 60 18000
Jan-10 300 60 18000 200 50 10000
Jan-14 100 72 7200 200 50 10000
100 72 7200
Jan-20 200 50 10000
50 72 3600 50 72 3600
Jan-30 50 80 4000 50 72 3600
50 80 4000
29200 31600 7600

(b)
Good Received Good Issued Balance
WAC
Quantity @ RM Quantity @ RM Quantity @ RM
Date
2021
Jan-01 200 50 1000
Jan-02 300 60 18000 500 56 28000
Jan-10 300 56 16800 200 56 11200
Jan-14 100 72 7200 300 61 18400
Jan-20 250 61 15333 50 61 3068
Jan-30 50 80 4000 100 71 7068

Purchases 29200 Cos 32133 C/Inventory 7068

(B) Josephine
Journal entries
RM RM
1 Discount allowed 50
Suspense 50

2 Insurance Expenses 380

Insurance premium payment 380

3 Return outwards 300

Return inwards 300

4 Machine 420
Purchases 420

5 Purchases 750
Trade payable 750

6 Drawings 135
Purchases 135

Suspensse Account
RM RM
Balance b/d 210 1 Discount allowed 50
Balance c/d 160
210 210

0
This column is for
marker’s use only
Name:
Student ID No:
Subject Code & Title: ABFA1163 & FINANCIAL ACCOUNTING II
Programme of Study: DEM131
Tutorial Group: 1

Type answers on this side of the page only This column is for
marker’s use only
(A)
(a)
(i) 210000
x 100% = 38.18%
550000

(ii) 160000
x 100% = 29.09%
550000

(iii) 96000
= 2.53 : 1
38000

(iv) 48000
x 365 = 32 days
550000

(v) 21000
x 365 = 22.54 days
340000
= 23 days

(b)
1. In comparison to Homeriz Sdn Bhd, Industry products are sokd at higher profit margin

2.Homeriz Sdn Bhd has a higher net profit margin than the industrym despite the fact that its
gross profit margin is lower than the another.

3.Homeriz Sdn Bhd and industry have sufficient current assets for covering their liabilities.
(B)
(a)
1.Perpetual inventory method of recording the inflow and outflows of inventories thoughout
the period. Seperate records are opened for each and every type of inventory.By comparing the
inflows and outflows, it is possible to calculate the balance of inventories on hand at any point
of time.

2.Periodic inventory method of conducting a physical inventory count in order to determine

the actual quantity of inventories on hand at that particular time. No records were kept of the
inflows and outflows of inventory. Hence, no records are available to the balance of
inventories on hand at any point of time.

(b)
Prudence Concept

0
Name:
Student ID No:
Subject Code & Title: ABFA1163 & FINANCIAL ACCOUNTING II
Programme of Study: DEM131
Tutorial Group: 1

Type answers on this side of the page only This column is for
marker’s use only
(A)
(a) JHM Sdn. Bhd.
Profit & Loss Appropriation Account for the year ended 31 March 2021
RM RM RM
Net Profit 131900
Add: Interest on Drawings
Alex 960
Bobbi 640 1600
133500
Less: Appropriation
Interest on Capital
Alex 9000
Bobbi 5400 14400
Partnets' Salaries
Alex 8000
Bobbi 2000 10000 -24400
109100

Sharing of Profit
Alex 109100*5/8 68187.5
Bobbi 109100*3/8 40912.5
109100

(b) Current Account

Alex Bobbi Alex Bobbi
RM RM RM RM
Drawing 12000 8000 Interest on loan 700
Int. on drawing 960 640 Interest on Capital 9000 5400
Balance c/d 70927.5 39872.5 Partners Salaries 6000 2000
Profit Sharing 68187.5 40912.5
83887.5 48312.5 83887.5 48312.5

Bal b/d 70927.5 39672.5

(B)
(a) Capital Account
Alex Bobbi Carina Alex Bobbi Carina
RM RM RM RM RM RM
Balance c/d 150000 90000 80000 Balance b/d 100,000 60,000
Cash 80000
Goodwill 50000 30000

150000 90000 80000 150000 90000 80000

(b) Alex,Bobb & Carina

Statement of Financial Position as at 1 April 2021
RM RM
Non-Current Assets 270200
Goodwill 80000
Current Assets 60000
410200
Capital Account
Alex 150000
Bobbi 90000
Carina 40000
280000
Current Account
Alex 48065
Bobbi 50135
Carina -

Liabilities 98200
32000
410200