Faculty of Business and Management

GROUP ASSIGNMENT

PRINCIPLE OF ACCOUNTING
(DAC2013)
Semester June – October 2023

Prepared by:
No Name Matric Number
1. NURUL HIDAYATUL HIKMAH BT AB GARIB MAM22060107

2. DAYANG SITI NORSHAMIRAH BINTI MOHD. AMIN MAM22060073

3. NURUL IZZAH BINTI MASNAWI MAM22060097

4. SYVESTINE NESA ANAK VALENTINE MAM22060052

Prepared for:
Lecturer Name: SITI NOR FATIN BINTI AHMAD FODZIL

Due Date: 15th of September 2023

Answer ALL questions. (50 marks)

SitiNorFatin/June-Oct 2023
QUESTION 1

Trial Balance as at 31 December 2021 extracted from the books of SmartLink Enterprise is as follow:

Debit Credit
List of Accounts
(RM) (RM)

Purchases 97,500

Sales 150,000

Discount allowed 400

Discount received 750

Carriage inwards 550

Carriage outwards 300

Return inwards 4,000

Return outwards 3,500

Inventory as at 1 January 2021 16,000

Advertising 1,250

Dividend received 300

Rental expense 3,000

Rental received 3,900

Allowance for doubtful debt as at 1 1,800

January 2021
Salary 9,000

Utilities 1,500

Insurance 2,000

Cash 2,600

Bank 7,600

Account receivables 53,600

SitiNorFatin/June-Oct 2023
 Account payables 68,500

Capital 154,950

Loan from Mybank 90,000

Freehold premises 200,000

Furniture 4,800

Motor vehicles 36,400

Investment 32,000

Drawing 1,200

473,700 473,700

Additional information:

1. Inventory as at 31 December 2021 was valued at RM52,000.

2. Rental received is for the period from 1 January 2021 to 31 March 2022.
3. RM200 of utilities was paid in advance.
4. The owner had withdrawn RM1,300 goods for his family use, and no record was made.
5. Allowance for doubtful debt was to be provided at RM1,100.
6. Insurance amounting RM1,000 was still outstanding at the end of the accounting period.
7. Interest on loan at 5% per annum has not been paid.

Required:

a. Prepare the Statement of Profit or Loss for the year ended 31st December 2021.
(15 marks)

b. Prepare the Statement of Financial Position as at 31st December 2021.

(15 marks) (Total: 30 marks) QUESTION 2

SitiNorFatin/June-Oct 2023
SitiNorFatin/June-Oct 2023
SitiNorFatin/June-Oct 2023
Beautiful Me Enterprise is a cosmetic shop owned by Puan Zam. Below is its cash book for the
month of November 2022.

CASH BOOK
Date RM Date RM

1/11 Balance b/d 3,500 3/11 Purchases 2,100

5/11 Sales 1,200 5/11 Utilities 500

10/1 Ramona 150 17/11 Salaries 2,000

1

13/1 Cash 2,130 19/11 D’ Herbs 580

1

14/1 Bella 210 25/11 Purchases 820

1

19/1 Sales 2,080 30/11 Balance c/d 3,390

1
22/1 Cash 120
1

9,390 9,390

However, on 3rd December Puan Zam received a Bank Statement from Standard Chartered Bank
for the month of November and it was found that the balance of her cash book and the Bank
Statement was different.

Bank Statement

Standard Chartered BANK

Date of Statement: 30th November 2022

Customer: Beautiful Me Enterprise

Date Particulars Payment (RM) Receive (RM) Balance (RM)

1/11 Balance b/d 3,500

5/11 Purchases 2,100 1,400

SitiNorFatin/June-Oct 2023
 8/11 Sales 1,200 2,600

9/11 Cheque 1,000 1,600

9/11 Cheque 900 700

9/11 Standing order 680 20

14/11 Cash deposit 2,130 2,150

17/11 Salaries 2,000 150

18/11 Cash deposits 650 800

22/11 Cash deposits – Riz 120 920

27/11 Purchases 820 100

27/11 Cash deposits 210 310

29/11 Credit transfer – Aurora 1,800 2,110

30/11 Dividend 2,200 4,310

Required:

a. Prepare adjusted Cash Book for the month of November 2022.

b. Prepare the Bank Reconciliation Statement for the month of November 2022.
(Total: 20 marks)
END OF QUESTIONS

SitiNorFatin/June-Oct 2023
SitiNorFatin/June-Oct 2023