(a)

(b)
 Total
Allowance for Doubtful Debts 10400 / 1600 2400

Current balance 5400 Cr

New balance 10400 Cr
Adjustment 5000 Cr

Details Debit (RM) Credit (RM)

Bad Debt Expense 5000
Allowance for Doubtful Debts 5000
(Being increase in allowance for doubtful debt to RM10400)

Current balance 800 Dr

New balance 10400 Cr
Adjustment 11200 Cr

Details Debit (RM) Credit (RM)

Bad Debt Expense 11200
Allowance for Doubtful Debts 11200
(Being increase in allowance for doubtful debt to RM10400)
3600 2000 800

(a) 3500
9000
3000
2000
Required 2018 17500
Balance from 2017 10000
Charge to Bad Debt Expense 7500

(b) Details Debit (RM) Credit (RM)

Bad Debt Expense 7500
Allowance for Doubtful Debts 7500
(Being increase in allowance for doubtful debt account at 31/12/2018)

(c)
Date Details
2018
1-Dec Notes Receivable - Bengkel Huat Sdn Bhd
Accounts Receivable - Bengkel Huat Sdn Bhd
(Being note receivable for Bengkel Huat)

31-Dec Interest Receivable

Interest Revenue
(15000*30/360*0.15)
(Being interest earned)

2019
30-Jan Cash
Notes Receivable - Bengkel Huat Sdn Bhd
 1-Feb Notes Receivable - Rajnapur Authentic Sdn Bhd
Accounts Receivable - Rajnapur Authentic Sdn Bhd
(Being note receivable for Rajnapur Authentic)

1-Mar Notes Receivable - Macha Drinks Sdn Bhd

Accounts Receivable - Macha Drinks Sdn Bhd
(Being note receivable for Macha Drinks)

3-Mar Cash
Notes Receivable - Rajnapur Authentic Sdn Bhd
Interest Revenue (8000*30/360*0.08)
(Being cash received on full settlement on maturity: Rajnapur)

15-Apr Notes Receivable - Hong Ann Sdn Bhd

Accounts Receivable - Hong Ann Sdn Bhd
(Being note receivable for Hong Ann)

30-Apr Accounts Receivable - Macha Drinks Sdn Bhd

Notes Receivable - Macha Drinks Sdn Bhd
Interest Revenue (10000*60/360*0.05)
(Being accounts receivable for dishonoured note)

30-Apr Bad Debt Expense

Allowance for Doubtful Debt - Matcha Drinks
(Non-collectibility of debt)

14-Jun Cash
Notes Receivable - Hong Ann Sdn Bhd
Interest Revenue (20000*60/360*0.05)
(Being cash received on full settlement on maturity: Hong Ann)

15-Jun Allowance for Doubtful Debt - Matcha Drinks

Accounts Receivable - Macha Drinks Sdn Bhd
(Being write-off of Macha Drinks’ accounts receivable)
Debit(RM) Credit(RM)

15000
15000

188
188

15000
15000
 8000
8000

10000
10000

8053
8000
53

20000
20000

10083
10000
83

10083
10083

20167
20000
167

10083
10083
(a) Rate of depreciation (%)
=

= 37%

Year Opening Carrying Amount (RM) Rate of Depreciation (%)

31-Dec-15 100000 37
31-Dec-16 63000 37
31-Dec-17 39690 37
31-Dec-18 25005 37
31-Dec-19 15753 -

(b) Date Details Debit (RM)

2015
31-Dec Depreciation Expense - Oven 37000
Accumulated Depreciation - Oven
(Being depreciation expense for industrial oven for the year ended 31 December 2015)
2016
31-Dec Depreciation Expense - Oven 23310
Accumulated Depreciation - Oven
(Being depreciation expense for industrial oven for the year ended 31 December 2016)
2017
31-Dec Depreciation Expense - Oven 14685
Accumulated Depreciation - Oven
(Being depreciation expense for industrial oven for the year ended 31 December 2017)
2018
31-Dec Depreciation Expense - Oven 9252
Accumulated Depreciation - Oven
(Being depreciation expense for industrial oven for the year ended 31 December 2018)
2019
31-Dec Depreciation Expense - Oven 5753
Accumulated Depreciation - Oven
(Being depreciation expense for industrial oven for the year ended 31 December 2019)
 Depreciation
=
=

(a)

Depreciation Charge (RM) Ending Carrying Amount (RM) Accumulated Depreciation (RM)
37000 63000 37000
23310 39690 60310
14685 25005 74995
9252 15753 84247 (b)
5753 10000 90000

Credit (RM)

37000
year ended 31 December 2015)

23310
year ended 31 December 2016)

14685
year ended 31 December 2017)

9252
year ended 31 December 2018)

5753
year ended 31 December 2019)
Depreciation
(100000-20000)/10
8000

2016 8000
2017 8000
2018 8000*6/12
Total depreciate value : 8000+8000+4000=20000
Carrying amount of asset on the day of sale = 100000-20000 = 80000
Loss on the sale of the asset = 80000-52000 = 28000

Date Details
2018
1-Jan Asset disposal account
Property, plant and equipment, at cost
(Being derecognition of property, plant and equipment, at cost)

1-Jan Accumulated depreciation

Asset disposal account
(Being derecognition of accumulated depreciation of property, plant and equipment)

1-Jan Cash
Asset disposal account
(Being net disposal proceeds received from the sale of property, plant and equipment)

1-Jan Loss on disposal of property, plant and equipment (Income Statement)

Asset disposal account
(Being loss on the disposal of property, plant and equipment)
 4000 (a) Depreciate value each year
22400
2016 122533.333333333
2017 100133
2018 77733
Debit (RM) Credit (RM)
(b) Rate of depreciaton
100000 =
100000

33%
20000 Period Opening Carrying Amount (RM)
20000 1 Sep 2016 – 31 Dec 2016 130000
1 Jan 2017 – 31 Dec 2017 115700
1 Jan 2018 – 31 Dec 2018 77519
52000
52000 (c) Depreciation
5040

28000
28000
 Depreciable value
112000

Rate of Depreciation (%) Depreciation Charge (RM) Ending Carrying Amount (RM)
33 14300 115700
33 38181 77519
33 25581.27 51937.73 51938
(a) Depreciable Amount 250000

Year Depreciation Expense (RM) Accumulated Depreciation (RM) Carrying Amount (RM)
2015 62500 62500 197500
2016 70000 132500 127500
2017 75000 207500 52500
2018 42500 250000 10000

(b) Date Particulars Debit (RM) Credit (RM)

2015
31-Dec Depreciation Expense 62500
Accumulated Depreciation 62500
(Being depreciation expense for the year ended 31 December 2015)
Carrying Amount (RM)

Credit (RM)
(a)
Date Details Debit (RM) Credit (RM)
Staff salaries - sales department 3,400
Interest expenses 30,000
Accrued expenses 33,400

Insurance expenses 14,000

Prepaid insurance 14,000

Provision for depreciation

Buildings 62,000
Motor Vehicles 24,160
Furniture and fittings 32,000
Accumulated depreciation
Buildings 62,000
Motor vehicles 24,160
Furniture and fittings 32,000

Accounts receivable 16,000

Sales 16,000

Interest receivable 12,000

Interest income 12,000

Revaluation reserve 60,000

Bonus shares 60,000

(b) Smart-One Solution Sdn. Bhd.

Statement of Profit or Loss for the year ended 31 December 2019
RM RM
Sales 1,077,200
Less: Sales Returns (4,160)
Discount allowed (6,100)
Net Sales

Less: Cost of Sales

Purchases 480,000

Less: Purchases returns (4,000)

Net Purchases 476,000
1,066,940