MULTIMEDIA COLLEGE JALAN GURNEY KIRI KUALA LUMPUR

Transcription

1 MULTIMEDIA COLLEGE JALAN GURNEY KIRI KUALA LUMPUR THIRD SEMESTER EXAMINATION, 2011 SESSION DIAA-E-F-2/10 FIN 2093 FINANCIAL ACCOUNTING III TENGKU FATIMAH SALIHAH 6 JULY AM PM (2 ½ Hours) INSTRUCTION TO STUDENT 1. This Examination paper has EIGHTTEEN (18) printed pages. 2. This question paper consists of FOUR (4) sections. Section A : Answer ALL questions. Section B : Answer ALL questions. Section C : Answer ALL questions. Section D : Answer FOUR (4) questions only. 3. Please write all your answers in the Answer Booklet provided.

2 PERATURAN PEPERIKSAAN KOLEJ MULTIMEDIA PENYELEWENGAN AKADEMIK 1. Pelajar tidak boleh melakukan mana-mana penyelewengan di bidang akademik seperti berikut atau sebarang arahan peperiksaan yang dikeluarkan oleh Ketua Pengawas Peperiksaan. HUKUMAN 1.1 Pelajar yang meniru hasil kerja orang lain atau tidak mengiktiraf kerja orang lain (plagiat) untuk tujuan tugasan atau ujian akan dikenakan tindakan tatatertib. 1.2 Pelajar juga tidak dibenarkan bersubahat dalam peniruan atau penipuan yang dinyatakan dalam para Pelajar perlu juga mematuhi peraturan lain mengenai penilaian yang dinyatakan secara lisan atau bertulis. 1. Sekiranya pelajar didapati telah melakukan pelanggaran mana-mana daripada peraturan peperiksaan ini, setelah dibicara dan sabit kesalahannya, maka Jawatankuasa Disiplin Pelajar boleh mengambil tindakan dari mana-mana satu, atau apa-apa kombinasi yang sesuai dari dua atau lebih hukuman-hukuman berikut:- (a) amaran (b) denda tidak melebihi RM 500 (c) (d) (e) memberi markah '0' kepada peperiksaan akhir bagi mata pelajaran berkenaan atau memberi markah sifar '0' bagi keseluruhan keputusan peperiksaan mata pelajaran yang berkenaan (termasuk kerja kursus) menggantung pengajian pelajar selama tempoh yang difikirkan patut oleh Jawatankuasa Disiplin lain-lain hukuman yang akan ditetapkan oleh Jawatankuasa Disiplin Pelajar Kolej 2. Pelajar yang melanggar peraturan juga boleh diambil tindakan tatatertib mengikut peruntukan yang terdapat dalam Peraturan & Tatatertib Pelajar, Kolej Multimedia, Dikeluarkan oleh Unit Peperiksaan & Rekod Pelajar, Kolej Multimedia Kuala Lumpur, Julai 2001 TFS Page 2 of 18

3 SECTION A : MULTIPLE CHOICE QUESTIONS - (10 marks) BAHAGIAN A : SOALAN PELBAGAI PILIHAN - (10 markah) INSTRUCTIONS : Answer ALL questions. ARAHAN : Jawab SEMUA soalan. 1. Given opening account receivable of $11,500, sales $48,000 and receipts from debtors $45,000, the closing accounts receivable total should be: Diberi baki awal akaun penghutang $11,500, jualan $48,000, menerima bayaran daripada penghutang $45,000, jumlah baki akhir akaun penghutang adalah: A. $8,500 B. $14,500 C. $83,500 D. $18, If account payable at 1 January 2003 were $2,500, accounts payable at 31 December 2003 $4,200 and payments to creditors $32,000, then purchases for the year 2003 are. Jika akaun pengutang pada 1 Januart 2003 adalah $2,500, akaun pemiutang pada 31 Disember 2003 $4,200 dan bayaran kepada pemiutang $32,000, maka belian bagi tahun 2003 adalah. A. $30, 300 B. $33,700 C. $31,600 D. $38,700 TFS Page 3 of 18

4 3. Which of the following should be charged in the income statement. Kenyataan yang manakah boleh didapati dalam penyata pendapatan. A. Office rent/ Sewa pejabat B. Work-in-progress/ Kerja dalam proses C. Direct material / Bahan mentah langsung D. Carriage on raw material / Angkutan bahan mentah 4. Prime Cost include : / Kos prima termasuk : I. Direct labour / Buruh langsung II. Factory overhead expenses / Belanja overhed kilang III. Raw materials / Bahan mentah IV. Direct expenses /Belanja langsung A. I, II and III B. II, III and IV C. I, III and IV D. I, II and IV 5. A receipts and payment account is one. Akaun penerimaan dan pembayaran adalah satu A. Which is accompanied by a balance sheet Yang mana termasuk dalam kunci kira-kira B. The profit is calculated / Pengiraan keuntungan C. The opening and closing cash balances are shown Memaparkan baki Tunai awal dan akhir D. The surplus of income over expenditure is calculated Pengiraan belanja melebihi pendapatan TFS Page 4 of 18

5 6. Given opening capital of $16,500; closing capital as $11,350 and drawings of $3,300, then. Diberi modal permulaan adalah $16,500; modal akhir ialah $11,350 dan ambilan sebanyak $3,300, maka. A. Loss for the year was $1,850 Kerugiaan pada tahun ini adalah $1,850 B. Profit for the year was $1,850 Keuntungan pada tahun ini adalah $1,850 C. Loss for the year was $8,450 Kerugiaan pada tahun ini adalah $8,450 D. Profit for the year was $8,450 Keuntungan pada tahun ini adalah $8, In the Manufacturing Account is calculate Akaun perkilangan adalah untuk mengira A. The production costs paid at the end of year Kos produksi dibayar pada akhir tahun B. The total cost of goods produced Jumlah kos bahan pengeluaran. C. The production cost of goods completed Kos barang siap produksi. D. The gross profit on finish good sold Untung kasar daripada penjualan produk siap. TFS Page 5 of 18

6 8. The recommended method of departmental account is. Kaedah yang disarankan dalam akaun jabatan adalah. A. Allocate expenses in proportion to sales / Penyediaan kadar belanja untuk jualan B. To charge against each department its controllable cost / Kos terkawal dikenakan keatas setiap jabatan C. To allocate expenses in proportion to purchases / Penyediaan kadar belanja untuk belian D. To charge against each department its uncontrollable cost / Kos tidak terkawal dikenakan keatas setiap jabatan 9. There is no partnership agreement into profits and losses. Didalam perkongsian tiada perjanjian bagi untung dan rugi A. Must be shared in the same proportion as capitals Mesti dikongsi bersama sebagai modal B. Must be shared equally Mesti dikongsi secara bersama C. Must be shared equally after adjusting for interest on capital Mesti dikongsi bersama selepas ditambah kadar faedah daripada modal D. None of above Tiada diatas TFS Page 6 of 18

7 10. You are to buy an existing business which has assets valued at Buildings $50,000, Motor vehicles $15,000, Fixtures $5,000 and Inventory $40,000. You are to pay $140,000 for the business. This means that: Anda ingin membeli perniagaan yang telah dijalankan yang mana ia mempunyai aset bernilai iaitu bangunan $50,000, kenderaan $15,000, perabot $5,000 dan inventori $40,000. Anda membayar $140,000 untuk perniagaan tersebut. Ini bermakna: A. You are paying $40,000 for goodwill Anda membayar $40,000 untuk aset. B. Buildings are costing you $30,000 more than their market value Kos bangunan sebanyak $30,000 melebihi nilai pasaran. C. You are paying $30,000 for goodwill Anda membayar $30,000 untuk aset. D. You have made an arithmetical mistake Anda telah membuat kesilapan dalam pengiraan. TFS Page 7 of 18

8 SECTION B : TRUE (T) OR FALSE (F) (10 marks) BAHAGIAN B : BETUL (B) ATAU SALAH (S) (10 markah) INSTRUCTIONS : Answer ALL questions. ARAHAN : Jawab SEMUA soalan. 1. A non-profit-oriented organization has an accumulated fund. Organisasi yang bukan berasaskan keuntungan mempunyai modal yang mencukupi. 2. Cash sales must be added to sales on credit to get the total sales for the year. Jualan tunai mesti dimasukkan dalam jualan secara kredit untuk mendapatkan jumlah jualan tahunan. 3. Receipt and payment account are a summary of the cash book for the period. Akaun penerimaan dan pembayaran adalah kesimpulan daripada buku tunai untuk suatu jangka masa. 4. The prime cost consists of direct material and direct expenses. Kos prima mengandungi bahan mentah langsung dan belanja langsung. 5. Hire purchase is a way of buying assets without paid on that time. Cara untuk membeli aset tanpa perlu membayar pada masa itu adalah melalui pinjaman belian aset. 6. Limited partnerships are partnership containing two or more limited partners. Limitasi dalam perkongsian adalah perkongsian diantara dua atau lebih pekongsi. 7. Normal Partnership involves two people or more but not more than 20 people. Perkongsian biasa melibatkan dua orang atau lebih tetapi tidak melebihi 20 orang. TFS Page 8 of 18

9 8. When inventory is stolen, lost or destroyed, its value will be calculated. Apabila inventori dicuri, hilang atau rosak, nilainya akan diambil kira. 9. Calculate the figure purchases and sales are the stage 4 to draw the special accounting procedures. Pengiraan dalam belian dan jualan adalah peringkat 4 untuk membina special accounting procedures. 10. If purchaser is unable to continue paying the installment, the seller could normally repossess the assets. Jika pembeli sukar untuk membayar ansuran, penjual biasannya akan mengambil aset tersebut. TFS Page 9 of 18

10 BAHAGIAN C : SOALAN PENDEK (20 markah) SECTION C : SHORT QUESTIONS (20 marks) ARAHAN : Jawab SEMUA soalan. INSTRUCTIONS : Answer ALL questions. Question / Soalan 1 Place a tick in the appropriate column in each of the following cost items. Tandakan ruangan yang sesuai untuk setiap kos dibawah. Direct material Direct labour Direct expenses Indirect manufacturing cost Administration expenses a) Purchase of raw material b) Direct wages c) General factory expenses d) Depreciation of machinery e) Commission on sales f) Factory rent g) Royalties paid h) Inventory of raw materials i) Administration salaries j) Indirect labour k) Bank charges l) Carriage outwards m) Discounts allowed n) Factory lighting Selling and distribution expenses Financial charges (7 marks / markah) TFS Page 10 of 18

11 Question / Soalan 2 a) Fine s Department Store has three different department which is carpet department, white department and music department. You need to draw up a departmental trading account for Fine s Departmental store for the year ending 30 June 2011 based on the information below. Fine s Department Store mempunyai tiga jabatan berlainan yang mana terdiri daripada carpet department, white department, dan music department. Anda dikehendaki membuat akaun jabatan untuk Fine s Department Store bagi tahun berakhir 30 June 2011 berdasarkan maklumat dibawah : 1/7/2010 $ $ 30/6/2011 $ Inventory Carpet department 16,100 18,410 White good department 37,916 35,119 Music department 31,222 40,216 Sales for the year: Carpet department 62,400 White good department 151,300 Music department 94,820 Purchases for the year: Carpet department 43,600 White good department 118,260 Music department 55,924 (6 marks / markah) TFS Page 11 of 18

12 Question / Soalan 3 a) What is direct cost and indirect cost? Apakah kos langsung dan kos tidak langsung? (3 Marks / Markah) b) Discuss the differences between a hire purchase and normal purchase. Bincangkan perbezaan diantara pembelian secara pinjaman dan pembelian biasa. (4 Marks / Markah) TFS Page 12 of 18

13 SECTION D : LONG QUESTIONS (60 marks) BAHAGIAN D : SOALAN PANJANG (60 markah) INSTRUCTIONS : Answer TWO (2) questions only. ARAHAN : Jawab DUA (2) soalan sahaja. Question / Soalan 1 Mendap Limited is a manufacturer. His trial balance at 31 December 2010 is as follows. Mendap Limited adalah sebuah syarikat perkilangan. Imbangan duga pada 31 December 2010 adalah seperti berikut. $ $ Delivery van expenses 1,760 Lightening and heating: Factory 7,220 Office 1,490 Manufacturing wages 72,100 General expenses: Factory 8,100 Office 1,940 Sales reps : Commission 11,688 Purchase of raw material 57,210 Rent: Factory 6,100 Office 2,700 Machinery (at cost $40,000) 28,600 Office equipment ( cost $9,000) 8,200 Office salaries 17,740 Account receivable 34,200 Account payable 9,400 Bank 16,142 TFS Page 13 of 18

14 Sales 194,800 Van (at cost $6,800) 6,200 Inventory at 31 December 2009: Raw materials 13,260 Finished goods 41,300 Drawings 24,200 Capital 155, , ,150 Prepare the manufacturing account and income statement for the year ending 31 December 2010 and a balance sheet as at the date. Give effect to the following adjustments: Sediakan akaun perkilangan dan penyata pendapatan bagi tahun berakhir 31 Desember 2010 dan kunci kira-kira seperti tarikh diatas. Tunjukkan perubahan dalam : i) Inventory at 31 December 2010: Raw materials $14,510; finished goods $44,490. There is no work-in-progress. Inventori pada 31 December 2010: bahan mentah $.14,500: Barang siap $44,490. Tiada kerja dalam proses. ii) Depreciatie machinery $3,000; office equipment $600; van $1,200. Susutnilai mesin $3,000; alatan pejabat $600; van $1,200. iii) Manufacturing wages due but unpaid at 31 December 2010 $550; office rent prepaid $140. Gaji pekerja kilang tidak dibayar pada 31 December 2010 $550; Sewa pejabat terlebih bayar $140. (30 Marks / Markah) TFS Page 14 of 18

15 Question / Soalan 2 Bulwell Aggregates Ltd wishes to expand their transport fleet and have purchase three heavy lorries with a list price of $18,000 each. Robert Bulwell has negotiated hire purchase finance to fund this expansion and the company has entered into a hire purchase agreement with Maybank Berhad on 1 January The agreement states that Bulwell Aggregates will pay on a deposit of $9,000 on 1 January 2011 and two annual installments of $24,000 on 31 December 2011, 2012 and final installment of $20,391 on 31 December Interest is to be calculated at 25% on the balance outstanding on 1 January each year and paid on 31 December each year. The depreciation policy of Bulwell Aggregates Ltd is to write off the vehicles over four-year period using the straight line method and assuming a scrap value of $1,333 for each vehicle at the end of its useful life. The cost of the vehicles to Maybank Berhad is $14,400 each. Bulwell Aggregates Ltd ingin memperluaskan pengangkutan dan membeli tiga buah lori dengan harga $18,000 setiap satu. Robert Bulwell telah berbincang mengenai pembiayaan sewa beli dan syarikat telah membuat perjanjian sewa beli dengan Maybank Berhad pada 1 Januari Didalam perjanjian itu, tercatat Bulwell Aggregates dikehendaki membayar deposit $9,000 pada 1 Januari 2011 dan dua ansuran bulanan sebanyak $24,000 pada 31 Desember 2011, 2012 dan ansuran terakhir sebanyak $20,391 pada 31 December % kadar faedah dikira berdasarkan baki akhir pada setiap 1 januari dan dibayar pada 31 Desember setiap tahun. Polisi susutnilai bagi Bulwell Aggregates Ltd keatas kenderaan dijangka empat tahun kegunaan menggunakan kaedah garis lurus dan diandaikan nilai kenderaan selepas tarikh lupus adalah $1,333 untuk setiap kenderaan. Kos kenderaan kepada Maybank Berhad adalah $14,400 setiap unit TFS Page 15 of 18

16 You are required to / Anda dikehendaki : Show the account transaction in the books of Bulwell Aggregates Ltd and how the item would appear in the balance sheets for each year. Menunjukkan transaksi akaun dalam buku Bulwell Aggregates Ltd dan bagaimana setiap item diletakkan dalam kunci kira-kira setiap tahun. (30 Marks / Markah) Question / Soalan 3 From the following list of balances you are required to prepare a departmental income statement for the year ending 31 March 2010, in respect of the business carried on under the name of Jack s Superstore: Daripada senarai baki dibawah, anda dikehendaki menyediakan departmental income statement bagi tahun berakhir 31 March 2010, dimana perniagaan ini dikendalikan menggunakan nama Jack s Superstore: TFS Page 16 of 18

17 $ $ Rent and business rates 9,300 Delivery expenses 3,600 Commission 10,000 Insurance 1,800 Purchases: Department A 101,300 Department B 81,200 Department C 62, ,400 Discount received 2,454 Salaries and wages 91,200 Advertising 2,307 Sales: Department A 180,000 Department B 138,000 Department C 82, ,000 Depreciation 4,200 Opening inventory: Department A 27,100 Department B 21,410 Department C 17,060 65,570 Administration and general expenses 19,800 Closing inventory: Department A 23,590 Department B 15,360 Department C 18,200 57,150 TFS Page 17 of 18

18 Expect as follows, expenses are to be apportioned equally between the departments. Belanja akan dibahagikan sama diantara setiap jabatan. Delivery expenses proportionate to sales Belanja penghantaran dibahagikan mengikut jualan Commission 2.5 per cent of sales Komisyen 2.5 peratus daripada jualan Salaries and wages; insurance in the proportion of 3:2:1 Gaji; insurans dibahagikan mengikut nisbah 3:2:1 (30 Marks / Markah) End of Page. TFS Page 18 of 18