AA015 Chapter 3 Question_Nor Ismah Isa

Question 1(40 marks)

SMna Sdn Bhd (SSB) runs a business of Fishing goods. Below are the accounts
balances as at January 1, 2017.
Account Debit Credit
RM RM
Cash 20,200
Bank 54,600
Accounts Receivable: Ferhad Resources 7,600
Inventory 24,900
Fixtures and fittings 50,800
Accumulated depreciation: Fixtures and fittings 25,400
Capital 116,200
Accounts Payable : Sea Tackle Stores 16,500
158,000 158,000

Below are business transactions that have been engaged by SMna Sdn Bhd on
January 2017.

Jan. 3 Purchased goods from Fish ar Store on account, RM4,600; credit terms
2/10, n/30.
4 Paid January rent RM2,100
5 Received a credit note from Fish ar Store for the goods returned, RM300.
6 Received all payment from Ferhad Resources by cheque.
9 Sold goods to Noone Enterprise on account, RM5,000 ; credit terms 2/10,
n/30.
12 Paid all debts to Fish ar Store by cheque.
13 Cash sales RM15,000.
15 Paid half of the debts to Sea Tackle Stores by cheque
17 Noone Enterprise paid all of its debts by cheque
23 Purchased goods from Dura Usaha Sdn Bhd on account, RM3,600; credit
terms 2/10, n/30.
25 Sold goods to Jaidah Enterprise on account, RM3,800 ; credit terms 2/10,
n/30.
26 Jaidah Enterprise returned goods amounted RM200.
30 Paid employee salaries RM5,000.

REQUIRED:
1. Record all the above business transactions to appropriate journals.
[18 marks]
2. Post the journals entries to accounts receivable and accounts payable.
[6 marks]
3. Prepare SMna Sdn Bhd trial balance as at 31 January 2017
[16 marks]

1
 AA015 Chapter 3 Question_Nor Ismah Isa
Question 1(40 marks)

SMna Sdn Bhd (SSB) runs a business of Fishing goods. Below are the accounts
balances as at January 1, 2017.
Account Debit Credit
RM RM
Cash 20,200
Bank 54,600
Accounts Receivable: Ferhad Resources 7,600
Inventory 24,900
Fixtures and fittings 50,800
Accumulated depreciation: Fixtures and fittings 25,400
Capital 116,200
Accounts Payable : Sea Tackle Stores 16,500
158,000 158,000

Below are business transactions that have been engaged by SMna Sdn Bhd on
January 2017.

Jan. 3 Purchased goods from Fish ar Store on account, RM4,600; credit terms
2/10, n/30.
4 Paid January rent RM2,100
5 Received a credit note from Fish ar Store for the goods returned, RM300.
6 Received all payment from Ferhad Resources by cheque.
9 Sold goods to Noone Enterprise on account, RM5,000 ; credit terms 2/10,
n/30.
12 Paid all debts to Fish ar Store by cheque.
13 Cash sales RM15,000.
15 Paid half of the debts to Sea Tackle Stores by cheque
17 Noone Enterprise paid all of its debts by cheque
23 Purchased goods from Dura Usaha Sdn Bhd on account, RM3,600; credit
terms 2/10, n/30.
25 Sold goods to Jaidah Enterprise on account, RM3,800 ; credit terms 2/10,
n/30.
26 Jaidah Enterprise returned goods amounted RM200.
30 Paid employee salaries RM5,000.

REQUIRED:
1. Record all the above business transactions to appropriate journals.
[18 marks]
2. Post the journals entries to accounts receivable and accounts payable.
[6 marks]
3. Prepare SMna Sdn Bhd trial balance as at 31 January 2017
[16 marks]

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 AA015 Chapter 3 Question_Nor Ismah Isa
Sales Journal
Dr Acc Rec
Date Accounts Debited Term
Cr Sales
Jan. 9 Noone Enterprise 2/10, n/30 √5,000
25 Jaidah Enterprise 2/10, n/30 √3,800
31 Total 8,800

Purchases Journal
Cr Purchase
Date Accounts Credited Term
Cr Acc Pay
Jan.3 Fish ar Store 2/10, n/30 √4,600
23 Dura Usaha Sdn Bhd 2/10, n/30 √3,600
31 Total 8,200

Cash receipts journal

Sales
Cash Bank
Date Accounts Credited Discount
Dr Dr Dr
Jan. 6 Accounst Recievable: Ferhad Resources √7,600
13 Sales √15,00
0
17 Accounst Recievable: Noone Enterprise √4,900 √100
28 Total 15,000 12,500 100

Cash Payment Journal

Purchase
Cash Bank
Date Accounts Debited Discount
Cr Cr Cr
Jan. 4 Rent Expense √2,100
12 Accounts Payable : Fish ar Store √√4,214 √86
15 Accounts Payable : Sea Tackle Stores √8,250
30 Salaries Expense √5,000
28 Total 7,100 12,464 86

General Journal
Date Accounst Title and Explanations Debit Credit
Jan. 5 Accounts Payable – Fish ar Store √300
Purchases return and Allowance √300
(To record purchase return)

26 Sales Return and Allowance √200

Accounts Receivable – Jaidah Enterprise √200
(To record sales return)
[18 x 1 = 18]
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 AA015 Chapter 3 Question_Nor Ismah Isa

(2) General ledgers

Accounts Receivables
Date Account Description Debit (RM) Credit (RM) Balance(RM)
Jan. 1 Balance √7,600
6 Bank √7,600
17 Bank √4,900
17 Sales Discount √100
26 Sales Return and Allowance √200
31 Sales √8,800 3,600

Accounts Payables
Date Account Description Debit (RM) Credit (RM) Balance(RM)
Jan. 1 Balance √16,500
5 Purchase Return and Allowance √300
12 Purchases Discount √4,214
12 Bank √86
15 Bank √8,250
31 Purchases √8,200 11,850
[12 x 1/2 = 6]

SMna Sdn Bhd

Trial Balance as at 31 January 2107
Account Title Debits Credits
Cash(20,200+15,000-7,100) √28,100
Bank(54,600+12,500-12,734) √54,636
Accounts Receivable √3,600
Inventory √24,900
Fixtures and fittings √50,800
Accumulated depreciation: Fixtures and fittings √25,400
Capital √116,200
Accounts Payable √11,850
Purchases Discount √86
Purchases √8,200
Purchase Return and Allowance √300
Sales Discount √100
Sales(8,800+15,000) √23,800
Sales Return and Allowance √200
Rent expense √2,100
Salaries Expense √5,000
177,636 177,636
[16 x 1 = 16]

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 AA015 Chapter 3 Question_Nor Ismah Isa

Bayer Lamp Company

Trial Balance

December 31

Account Title Debits Credits

Cash $ 228,800

Accounts Receivable 193,200

Merchandise Inventory 222,000

Prepaid Insurance 11,600

Land 240,000

Building 440,000

Accumulated
$ 132,000
Depreciation – Building

Store Fixtures 222,400

Accumulated
Depreciation – Store 44,480
Fixtures

Accounts Payable 151,600

Common Stock 400,000

Retained
480,720
Earnings, January 1

Sales 2,206,000

Sales Discounts 14,800

Sales Returns and

8,000
Allowances

Interest Revenue 1,600

Cost of Goods Sold 1,209,200

Advertising Expense 48,000

Sales Salaries Expense 256,000

Office Salaries Expense 296,000

Delivery Expense 18,400

Interest Expense 8,000

Totals $ 3,416,400 $ 3,416,400

5
 AA015 Chapter 3 Question_Nor Ismah Isa
Question 1(40 marks)

Bijak Ilmu Sdn Bhd (BISB) runs a business of books and stationeries. Below are the
accounts balances as at march 1, 2017.
Account Debit Credit
RM RM
Cash 18,700
Bank 62,600
Accounts Receivable: SMK Timur 5,200
Inventory 34,800
Fixtures and fittings (Net) 27,225
Capital 129,665
Accounts Payable : Mizan Publisher Sdn. Bhd 18,860
148,525 148,525

Below are business transactions that have been engaged by Bijak Ilmu Sdn Bhd on
March 2017.

March. 2 Paid march rent RM2,800

3 Purchased Academic books Pustaka Frinas Store on account,
RM10,800; credit terms 5/10, n/30.
5 Received a credit note from Pustaka Frinas Store for the books returned,
RM800.
7 Received all payment from SMK Timur by cheque.
9 Sold goods to Tadika Permata on account, RM8,500 ; credit terms 5/10,
n/30.
12 Paid half of debts to Pustaka Frinas Store by cheque.
14 Cash sales RM21,000.
15 Paid half of the debts to Mizan Publisher Sdn. Bhd by cheque
17 Tadika Permata paid all of its debts by cheque
25 Purchased goods from Dermas Sdn Bhd on account, RM3,540; credit
terms 5/10, n/30.
26 Sold books to Perputakaan Desa Wawasan on account, RM4,200 ; credit
terms 5/10, n/30.
28 Perputakaan Desa Wawasan returned books amounted RM300.
30 Paid employee salaries RM5,200.

REQUIRED:
1. Record all the above business transactions to appropriate journals.
[18 marks]
2. Post the journals entries to accounts receivable and accounts payable.
[6 marks]
3. Prepare Bijak Ilmu Sdn Bhd trial balance as at 31 march 2017.
[16 marks]

Question 1(40 marks)

6
 AA015 Chapter 3 Question_Nor Ismah Isa

Bijak Ilmu Sdn Bhd (BISB) runs a business of books and stationeries. Below are the
accounts balances as at march 1, 2017.
Account Debit Credit
RM RM
Cash 18,700
Bank 62,600
Accounts Receivable: SMK Timur 5,200
Inventory 34,800
Fixtures and fittings (Net) 27,225
Capital 129,665
Accounts Payable : Mizan Publisher Sdn. Bhd 18,860
148,525 148,525

Below are business transactions that have been engaged by Bijak Ilmu Sdn Bhd on
March 2017.

March. 2 Paid march rent RM2,800

3 Purchased Academic books Pustaka Frinas Store on account,
RM10,800; credit terms 5/10, n/30.
5 Received a credit note from Pustaka Frinas Store for the books returned,
RM800.
7 Received all payment from SMK Timur by cheque.
9 Sold goods to Tadika Permata on account, RM8,500 ; credit terms 5/10,
n/30.
12 Paid half of debts to Pustaka Frinas Store by cheque.
14 Cash sales RM21,000.
15 Paid half of the debts to Mizan Publisher Sdn. Bhd by cheque
17 Tadika Permata paid all of its debts by cheque
25 Purchased goods from Dermas Sdn Bhd on account, RM3,540; credit
terms 5/10, n/30.
26 Sold books to Perputakaan Desa Wawasan on account, RM4,200 ; credit
terms 5/10, n/30.
28 Perputakaan Desa Wawasan returned books amounted RM300.
30 Paid employee salaries RM5,200.

REQUIRED:
1. Record all the above business transactions to appropriate journals.
[18 marks]
2. Post the journals entries to accounts receivable and accounts payable.
[6 marks]
3. Prepare Bijak Ilmu Sdn Bhd trial balance as at 31 march 2017.
[16 marks]

Sales Journal

7
 AA015 Chapter 3 Question_Nor Ismah Isa
Dr Acc Rec
Date Accounts Debited Term
Cr Sales
Mar. 9 Tadika Permata 5/10, n/30 √8,500
26 Perputakaan Desa Wawasan 5/10, n/30 √4,200
31 Total 12,700

Purchases Journal
Cr Purchase
Date Accounts Credited Term
Cr Acc Pay
Mar.3 Pustaka Frinas Store 5/10, n/30 √10,800
25 Dermas Sdn Bhd 5/10, n/30 √3,540
31 Total 14,340

Cash receipts journal

Sales
Cash Bank
Date Accounts Credited Discount
Dr Dr Dr
Mar. 7 Accounst Recievable: SMK Timur √5,200
14 Sales √21,00
0
17 Accounst Recievable: Tadika Permata √ 8,075 √425
31 Total 21,000 13,275 425

Cash Payment Journal

Purchase
Cash Bank
Date Accounts Debited Discount
Cr Cr Cr
Mar. 2 Rent Expense √2,800
12 Accounts Payable : Pustaka Frinas Store √√ 4,750 √ 250
15 Accounts Payable : Mizan Publisher √9,430
Sdn. Bhd
30 Salaries Expense √5,200
31 Total 8,000 14,180 250

General Journal
Date Accounst Title and Explanations Debit Credit
Mar. 5 Accounts Payable – Pustaka Frinas Store √800
Purchases return and Allowance √800
(To record purchase return)

28 Sales Return and Allowance √300

Accounts Receivable – Perputakaan Desa Wawasan √300
(To record sales return)
[18 x 1 = 18]
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 AA015 Chapter 3 Question_Nor Ismah Isa

(2) General ledgers

Accounts Receivables
Date Account Description Debit (RM) Credit (RM) Balance(RM)
Mar 1 Balance √5,200
7 Bank √5,200
17 Bank √8,075
17 Sales Discount √425
28 Sales Return and Allowance √300
31 Sales √12,700 3,900

Accounts Payables
Date Account Description Debit (RM) Credit (RM) Balance(RM)
Mar. Balance √18,860
1
5 Purchase Return and Allowance √800
12 Purchases Discount √250
12 Bank √4,750
15 Bank √9,430
31 Purchases √14,340 17,970
[12 x 1/2 = 6]

Bijak Ilmu Sdn Bhd

Trial Balance as at 31 March 2107
Account Title Debits Credits
Cash(18,700+21,000-8,000) √31,700
Bank(62,600+13,275-14,180) √61,695
Accounts Receivable √3,900
Inventory √34,800
Fixtures and fittings √27,225
Capital √129,665
Accounts Payable √17,970
Purchases Discount √250
Purchases √14,340
Purchase Return and Allowance √800
Sales Discount √425
Sales(12,700+21,000) √√33,700
Sales Return and Allowance √300
Rent expense √2,800
Salaries Expense √5,200
182,385 182,385
[16 x 1 = 16]