SEK. MEN.

CHUNG HUA (PSDN), KLANG

2019 FINAL TEST FOR 2ND SEMESTER
Subject : SENIOR 1 BOOKKEEPING AND ACCOUNTS
Prepared By: Ms. Tan Shu Yuin (S1AB, S1AF),
Ms. Ong Siew Poh (S1AP,S1AH), Ms. Chia Siok Noi (S1AJ, S1AL)

Date : 25TH October 2019 No Of Pages : 3

Time : 08:00am – 10:00am Foolscap Paper: 4
Name : ____________________________ ( )
Class : _________________

INSTRUCTIONS TO CANDIDATES :
(1) This paper consists of three subjective questions.
(2) Students must answer all questions.
(3) State the number of questions clearly and begin each question with a new page.
(4) Electronic calculator can be used but all the necessary workings must be submitted with the
answers.

Question 1: (35%)

Adrian is a sole trader, his business shows the information as follows:

(1) Purchases of Machinery and paid by cheque:
Cost
Date Machine Type
RM
31.03.11 C 8,000
05.11.12 D 12,000
(2) Purchases of Motor Vehicles payment by cheque:
Motor Vehicles Cost
Date
Type RM
01.01.11 P 20,000
01.01.12 Q 24,000
(3) Sales of Machinery received by cheque:
Sales Proceeds
Date Machine Type
RM
07.10.12 C 5,000

Company depreciation policy:

1 Plant and Machinery at the rate of 10% per annum on cost.
2 Motor Vehicles on 10% using diminishing balance method.

It is also the policy of the company that a full year’s depreciation is charged in the year of
purchase but none in the year of disposal.

You are required to prepare the following accounts for the year ended 31 December 2011and2012:
(i) Machinery Account
(ii) Motor Vehicles Account
(iii) Accumulated Depreciation of Machinery
(iv) Accumulated Depreciation of Motor Vehicles
(v) Disposal of Machinery Account
(Note: All calculation of Depreciation must be shown)

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Question 2: (25%)

The following information extracted from Munchee’s trial balance as at 31 December 2017:
Debit Credit
RM RM
Salaries 12,500
Insurance 2,400
Rent Income 6,000
Commission Received 4,800

Additional information:
a) The annual rent income was RM 5,500.
b) Commission not yet received is RM 1,000.
c) Salaries amounting to RM 1,900 was still outstanding.
d) Insurance premium of RM 2,400 was for the coverage period from 1 July 2017 to 30 June 2018.

You are required to prepare:

(i) Salaries acccount (ii) Insurance account
(iii) Rent Income account (iv) Commission Received account
(v) Profit and Loss (extract) for the year ended 31 December 2017
(vi) Statement of Financial Position (extract) as at 31 December 2017

Question 3: (40%)

The following was the Trial Balance extracted from the books of Thomas as at 30 June 2018:
Debit Credit
(RM) (RM)
Motor Vehicles, at cost 20,000
Furniture, at cost 3,000
Inventory, 1 July 2017 1,524
Trade Receivables and Trade Payables 6,550 1,868
Bank 1,000
Drawings 180
Sales and Purchases 9,750 23,350
Returns 227 68
7% Bank Loan 20,000
Insurance 1,800
Discounts 300 180
Carriage on sales 132
Stationery 160
Carriage on purchases 765
Rental 4,000
Commission Received 1,162
Bad Debts 150
Salaries 15,700
Interest on bank loan 1,200
Allowances for Doubtful Debts 120
Accumulated Depreciation of Motor Vehicles 4,000
Accumulated Depreciation of Furnitures 570
Cash in hand 2,880
Capital at 1 July 2017 8,000
64,318 64,318

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Additional information:
1 Inventory as at 30 June 2018 was valued at RM 1,570.
2 Insurance amounting to RM 300 had been paid in advance.
3 Monthly rental income was RM500.
4 Interest on bank loan was still outstanding.
5 Depreciation policy of non-current assets:
Motor Vehicles – straight line 20% per annum on straight line method;
Furniture – 10% per annum on reducing balance method.
6 A bad debts of RM 50 has not yet been recorded in the books.
7 The allowance for doubtful debts is to be adjusted at 5% of the net trade receivables.
8 The owner withdrew goods of RM 100 for his own use and no record had been made in the books

You are required to prepare:

a) Income Statement for the year ended 30 June 2018;
b) Statement of Financial Position as at 30 June 2018.

(Note: All workings must be shown)

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