BBCA1013

INTRODUCTION TO ACCOUNTING
ASSIGNMENT 2 (10%)

QUESTION 1
The following are the account of Mega Technology Sdn Bhd as at 31 Dec 2018

Particulars RM
Purchased 56,000
Return inward 1,700
Return outward 2,200
Sale 89,000
Capital 93,000
Drawing 3,000
Motor vehicle 5,200
Land 22,000
Building 30,500
Machinery 5,000
Account payable 22,600
Account receivable 10,200
Inventory (1 January 2016) 14,000
Inventory (31 December 2016) 11,350
Stationary 500
Utility expenses 2,300
Bad debt 200
Depreciation 2,400
Insurance on purchased 2,000
Commission received 4,950
Discount allowed 1,450
Cash 15,000
Bank 40,300

Required:
1. Prepare a trial balance as at 31 December 2018
2. Prepare Statement of Comprehensive Income for the year ending 31 December 2016
3. Prepare Statement of Financial Position as at 31 December 2018
QUESTION 2

1. Redtone Sdn Bhd. purchased a machinery for RM20,000 on 1 January 2016. It

estimates to use for 5 year. Calculate the depreciation charged using straight line
method at 15% depreciation per year. Prepare the relevant table that show the cost,
depreciation charged, accumulated depreciation and net book value for the asset.

2. Lily Trading purchased a lorry costing RM100,000 on 2 January 2016. The lorry is
depreciated at a rate 10% per annum for 3 years. Show the calculation of cost,
depreciation charged, accumulated depreciation and net book value for the asset. By
using reducing balance method.

3. My Interior Bhd. purchased a Computer for RM23,000 on 1 January 2015. It will be kept
for four years and then traded in for RM4,000. Show the calculation of cost, depreciation
charged, accumulated depreciation and net book value for 2015 until 2018.