Professional Documents
Culture Documents
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BBFA1103
INTRODUCTORY ACCOUNTING
PERAKAUNAN PENGENALAN
SEPTEMBER 2023 SEMESTER
5. This assignment accounts for 40% of the total marks for the course. /
Tugasan ini menyumbang sebanyak 40% dari jumlah markah kursus.
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ASSIGNMENT QUESTION
Part I
PURPOSE
The purpose of this assignment is to enhance learners' skills in applying basic accounting
concepts and preparing financial statements.
REQUIREMENT
Answer all the questions and show your detailed workings clearly.
[Total: 30 marks]
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Question 1 (CLO 1)
(4)
b) For each of the below situations, identify and justify the accounting principle that has been
violated.
i) In December 2022, Deco Floor received a customer's order and cash prepayment to
install carpet in a new office that would not be ready for installation until March
2023. Deco Floor recognised the revenue from the customer order in December
2022.
ii) Syarikat Atlas is in the process of listing its business in Bursa Malaysia. The
accountant of the company has deferred the current year's depreciation of
RM49,000 to the following year in order to present a higher profit.
iii) Syarikat Neon has disclosed its balance sheet, income statement, owner's equity
statement and cash flow statement in its annual report. The company is confident
that all the information was necessary without disclosing the notes to the accounts.
(6)
(Total : 10 marks)
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Question 2 (CLO 2)
Eric Consultant's accounting period begins on 1 June 2022 and ends on 31 May 2023. The account
balances as at 31 May 2023 for Eric Consultant are as follows:
Accounts RM
Cash 41,000
Accounts receivable 180,000
Supplies 19,500
Unearned fees revenue 24,700
Fees revenue 238,200
Prepaid rent 13,200
Prepaid insurance 36,000
Equipment 217,100
Accumulated depreciation – Equipment 33,400
Accounts payable 27,300
Bank loan 127,600
Eric, Capital 180,400
Eric, Drawing 7,000
Salaries expense 115,000
Rent expense 2,000
Utility expense 800
Additional information:
i. Supplies on hand as at 31 May 2023 are RM7,540.
ii. Consultant services performed but unbilled and uncollected at the end of 31 May 2023
amounted to RM6,400.
iii. The equipment has an estimated useful life of 13 years, no scrap value at the end of its useful
life, and the company is using straight line method.
iv. Thirty percent of revenue received in advance has been earned by 31 May 2023.
v. Salary due, amounting to RM24,000 has not yet been paid and recorded.
vi. Prepaid insurance represents the annual premium on a policy providing coverage starting
from 1 January 2023.
vii. Prepaid rent is for a half-year period beginning 1 March 2023.
viii. Bank loan interest rate is 10% per year. The bank loan was signed on 1 December 2022.
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a) Prepare all the necessary adjusting entries.
(8)
b) Prepare an Income Statement for the year ended 31 May 2023.
(5)
c) Prepare a Balance Sheet as at 31 May 2023.
(7)
(Total : 20 marks)
[Total : 30 marks]
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Part II
Discuss the following topic in the forum and submit proof of your participation in the online
discussions:
Question
Reconciling a bank account is an internal control measure. A company's cash account and
its bank balance are seldom the same at any given time.
a. How can a bank reconciliation help companies track the inflow and outflow of cash?
b. How often should companies prepare the bank reconciliation statement for the
accounts? Explain.
c. Can you give an example of a situation where a bank reconciliation could uncover
an error or fraudulent activity in the company finances?
d. What information do companies need to gather before starting the bank
reconciliation process for their accounts?
e. What are the potential consequences of neglecting to perform regular bank
reconciliations for company finances?
[Total: 10 marks]
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SOALAN TUGASAN
Bahagian I
TUJUAN
Tujuan tugasan ini adalah untuk mempertingkatkan kemahiran pelajar dalam
mengaplikasikan konsep-konsep asas perakaunan dan menyediakan penyata kewangan.
KEPERLUAN
Jawab semua soalan dan tunjukkan jalan kerja terperinci anda dengan jelas.
[Jumlah: 30 markah]
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Soalan 1 (CLO 1)
b) Bagi setiap situasi di bawah, kenal pasti dan justifikasikan prinsip perakaunan yang
telah dilanggar.
i. Pada bulan Disember 2022, Deco Floor menerima pesanan seorang pelanggan
dan bayaran pendahuluan tunai untuk memasang permaidani di pejabat baru
yang masih belum sedia untuk pemasangan sehingga Mac 2023. Deco Floor
telah mengiktiraf hasil daripada pesanan pelanggan dalam Disember 2022.
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Soalan 2 (CLO 2)
Tempoh perakaunan Eric Consultant bermula pada 1 Jun 2022 dan berakhir pada 31 Mei
2023. Baki- baki akaun pada 31 Mei 2023 bagi Eric Consultant adalah seperti berikut:
Akaun-akaun RM
Tunai 41,000
Akaun belum terima 180,000
Bekalan 19,500
Hasil belum diperoleh 24,700
Hasil yuran 238,200
Sewa prabayar 13,200
Insurans prabayar 36,000
Peralatan 217,100
Susut nilai terkumpul - Peralatan 33,400
Akaun belum bayar 27,300
Pinjaman bank 127,600
Modal, Eric 180,400
Ambilan, Eric 7,000
Belanja gaji 115,000
Belanja sewa 2,000
Belanja utiliti 800
Maklumat-maklumat tambahan:
i. Bekalan pada 31 Mei 2023 adalah RM7,540.
ii. Perkhidmatan perundingan telah dilaksanakan tetapi belum dibilkan dan tidak
dikutip pada akhir 31 Mei 2023 berjumlah RM6,400.
iii. Peralatan dianggarkan mempunyai hayat berguna selama 13 tahun, tidak ada nilai
sekerap pada akhir hayat bergunanya dan syarikat menggunakan kaedah garis lurus.
iv. Tiga puluh peratus daripada hasil terdahulu yang telah diperoleh pada 31 Mei 2023.
v. Gaji kena dibayar berjumlah RM24,000 belum dibayar dan direkodkan.
vi. Insurans prabayar mewakili premium tahunan bagi polisi yang meyediakan
perlindungan bermula dari 1 Januari 2023.
vii. Sewa prabayar adalah untuk tempoh setengah tahun mulai 1 Mac 2023.
viii. Kadar faedah pinjaman bank adalah 10% setahun. Pinjaman bank telah
ditandatangani pada 1 Disember 2022.
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Berdasarkan maklumat di atas, anda dikehendaki:
(Jumlah: 20 markah)
[Jumlah: 30 markah]
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Bahagian II
Bincangkan topik berkenaan di dalam forum dan hantar bukti penglibatan anda dalam
perbincangan dalam talian.
Menyesuaikan akaun bank adalah satu langkah kawalan dalaman. Akaun tunai sebuah
syarikat dan baki akaun jarang sama pada sesuatu masa.
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Part II/Bahagian II (10%)
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INSTRUCTIONS ON HOW TO SUBMIT PROOF OF ONLINE CLASS PARTICIPATION (10%)
Do the following:
1. Select the best FIVE (5) of your postings from the forum discussion set up by your tutor.
2. Do screenshots of the postings and include them as images in your assignment.
3. The screenshots should be in image file (either in JPG or PNG format). Refer to the sample of Screen Grab below
4. The screenshots should contain: Name, Title of the discussion, Day, Date and Time.
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