INSTRUCTION: This section consists of FOUR (4) structured questions. Answer ALL questions.

Transcription

1 SECTION A : 100 MARKS BAHAGIAN A : 100 MARKAH INSTRUCTION: This section consists of FOUR (4) structured questions. Answer ALL questions. ARAHAN : Bahagian ini mengandungi EMPAT (4) soalan struktur. Jawab SEMUA soalan. QUESTION 1 (a) Define the following terms applied in Royalty Account C2 i. Minimum Rental [ 2 marks] ii. Shortworkings [ 3 marks] (b) In January 2010 a publisher, Watz Daisy House was interested to publish the new Freezen series of books. The author, Elisa Hans agreed with the contract offered on the following terms; i. The royalty payable to the author is RM16 per book sold. ii. A minimum payment of RM7, 500 per annum to Elisa Hans in the case if Watz Daisy House fails to sell above the targeted units. iii. Recoupment right (for short workings) is only exercisable within two years after short working occurred. Payment for royalty is due on 31 December each year. During the first four years of the contract the following quantities of Freezen were produced: Year Books produced Closing stock SULIT

2 You are required to prepare the following accounting books for Watz Daisy House for the year end 31 December 2010, 2011, 2012 and i. Shortworking table [ 8 marks] ii. Elisa Hans Account iii. Shortworking Account [ 7 marks] [ 5 marks] 3 SULIT

3 SOALAN 1 (a) Definisikan terma-terma berikut yang digunakan di dalam Akaun Royalti: C2 i. Sewa Minimum [ 2 markah] ii. Shortworking [ 3 markah] (b) Pada Januari 2010 Watz Daisy House sebuah syarikat penerbitan berminat untuk menerbitkan siri buku baru Freezen. Pengarangnya Elisa Hans bersetuju dengan kontrak tersebut dengan terma yang berikut; i. Royalti yang perlu dibayar kepada pengarang sebanyak RM16 bagi setiap buku terjual. ii. Bayaran sewa minimum sebanyak RM7, 500 setahun kepada Elisa Hans sekiranya Watz Daisy House gagal menjual buku mengikut unit yang telah ditetapkan. iii. Hak pemulihan shortworking hanya boleh digunakan dalam tempoh dua tahun selepas shortworking berlaku. Pembayaran royalti perlu dibuat setiap 31 Disember. Berikut adalah jumlah kuantiti pengeluaran Freezen bagi empat tahun; Tahun Keluaran buku Stok akhir Anda dikehendaki untuk menyediakan buku-buku perakaunan berikut bagi Watz Daisy House bagi tahun kewangan berakhir pada 31 Disember 2010,2011,2012 dan 2013; i. Jadual shortworking [ 8 markah] ii. Akaun Elisa Hans [ 7 markah] iii. Akaun Shortworking [ 5 markah] 4 SULIT

4 QUESTION 2 On 1/1/2014, Sharifah and Syed were involved in a consignment business. Sharifah made decorative handicrafts and distributed her products through Syed in Sabah. On 15/2/2014, Sharifah sent 3,000 pieces of her products to Syed at a cost of RM3 each. Sharifah paid RM250 as freight charges from Malacca to Sabah and RM100 insurance expenses. According to agreement, Syed will receive 5% sales commission and 3% Del credere sales commission. Syed hired a driver and paid RM120 as transportation expenses to deliver the product to his company. Syed managed to sell the handicrafts as below: Cash sales Credit sales : 900 RM5 each : 300 RM5.50 each : 1,000 RM4.50 each Syed also paid RM180 sales expenses on 31/6/2014. Advance payment of RM5,000 was given to Sharifah from Syed on 30/8/2014. On 31/12/2014, Syed gave 35 pieces as souvenir to his friends at a price of RM3. C2 You are required to : (a) Calculate the value of stock on consignment with Syed on 31 December [2 marks] (b) Prepare in Sharifah book (Consignor): i. Goods sent on consignment account [2 marks] ii. Consignment account [12 marks] iii. Consignee account [9 marks] 5 SULIT

5 SOALAN 2 Pada 1/1/2014, Sharifah dan Syed menjalankan perniagaan secara konsainan. Sharifah membuat hiasan kraftangan dan melantik Syed untuk mengedarkan produk tersebut di Sabah. Pada 15/2/2014, Sharifah telah menghantar 3,000 keping produk kraftangan kepada Syed dengan harga kos RM3 setiap satu. Sharifah telah membayar caj pengangkutan sebanyak RM250 dari Melaka ke Sabah dan RM100 sebagai belanja insurans. Berdasarkan perjanjian, Syed akan menerima 5% komisen jualan dan 3% komisen Del credere. Syed telah mengupah seorang pemandu dan membayar sebanyak RM120 sebagai belanja pengangkutan untuk menghantar produk tersebut ke syarikatnya. Berikut menunjukkan urusniaga yang dilakukan oleh Syed : Jualan tunai Jualan kredit : 900 RM5 setiap satu : 300 RM5.50 setiap satu : 1,000 RM4.50 setiap satu Syed juga membayar belanja jualan pada 31/6/2014 berjumlah RM180. Bayaran pendahuluan telah diberikan oleh Syed kepada Sharifah pada 30/8/2014 sebanyak RM5,000. Selain itu, Syed telah memberikan sebanyak 35 keping kraftangan sebagai cenderahati kepada kawannya yang bernilai RM3 setiap satu pada 31/12/2014. C2 Anda dikehendaki : (a) Mengira nilai stok akhir dalam konsainan pada 31 December 2014 [2 markah] (b) Sediakan akaun-akaun berikut dalam buku Sharifah (Konsainor) i. Akaun Barang Dihantar Dalam Konsainan [2 markah] ii. Akaun Konsainan [12 markah] iii. Akaun Konsaini [9 markah] 6 SULIT

6 QUESTION 3 Aloha and Haiya were share partners in selling fresh fruit. All purchases were made by Aloha from the same supplier while sales were made by Haiya. Profits were distributed by a ratio of 3:2 between Aloha and Haiya. The followings were transactions occurred from January to March for the year 2014: Month Aloha Haiya January Fruit purchases, RM10, 000. Unloading charges paid, RM400. Port charges paid at a fixed rate of Sales of RM20, 000. Storage cost paid at a fixed rate of RM200 a month. RM400 a month. February Fruit purchases, RM13, 000. Sales of RM30, 000. Unloading charges paid, RM600. March Fruits purchases, RM16, 000. Unloading charges paid, RM700. Sales of RM60, 000. Besides that, Haiya will be given a commission of 5% from every sale made. In March, Aloha drew of RM500 from the fruit stocks for personal use. The joint venture will be ended at the end of March and all transactions were made by cash. C1 You are required to: (a) Prepare Joint Venture Account in the book of Aloha and Haiya [9.5 marks] (b) Prepare Memorandum Joint Venture Account for Aloha and Haiya for the month ended 31 March 2014 [11.5 marks] (c) State TWO (2) differences between Joint Venture and Partnership [4 marks] 7 SULIT

7 SOALAN 3 Aloha dan Haiya adalah rakan kongsi menjual buah-buahan segar. Semua pembelian dilakukan oleh Aloha dari pembekal yang sama sementara jualan dilakukan oleh Haiya. Keuntungan diagihkan mengikut nisbah 3:2 antara Aloha dan Haiya. Berikut adalah transaksi yang berlaku dari bulan Januari hingga bulan Mac tahun 2014: Bulan Aloha Haiya Januari Belian buah-buahan, RM10, 000. Caj pemunggahan dibayar, RM400. Caj pelabuhan dibayar pada kadar Jualan RM20, 000. Kos storan dibayar pada kadar tetap RM200 sebulan. tetap RM400 sebulan. Februari Belian buah-buahan, RM13, 000. Jualan RM30, 000. Caj pemunggahan dibayar, RM600. Mac Belian buah-buahan, RM16, 000. Caj pemunggahan dibayar, RM700. Jualan RM60, 000. Selain dari itu, Haiya akan diberi komisen 5% ke atas setiap jualan yang telah dibuat. Dalam bulan Mac, Aloha mengambil stok buah-buahan bernilai RM500 untuk kegunaan persendirian. Usahasama mereka akan tamat pada akhir bulan Mac dan semua transaksi adalah dilakukan secara tunai. C1 Anda dikehendaki untuk : (a) Menyediakan Akaun Usahasama dalam buku Aloha dan Haiya [9.5 markah] (b) Menyediakan Memorandum Akaun Usahasama untuk Aloha dan Haiya bagi bulan berakhir 31 March 2014 [11.5 markah] (c) Nyatakan DUA (2) perbezaan Usahasama dan Perkongsian [4 markah] 8 SULIT

8 QUESTION 4 On January 1, 2012, Dhia Enterprise purchased a machine from Rana Ltd under hire purchase agreement for 3 years. Below is the information about the hire purchases agreement between the two parties: i) Cash price of machine was RM150, 000. ii) Deposit was 12% from the cash price of machine. iii) Installment payments every 6 months which began on 30 June iv) Interest rate was 10% per annum. v) Company uses sum of digits method to calculate the interest. On April 30, 2014 the machine could not be operated due to short circuit. Dhia Enteprise claimed the insurance from AAisyah Insurance and received RM55, 000 as a compensation. Dhia Enterprise pay RM32, 000 to Rana Ltd as a settlement for the hire purchases agreement. You are required to prepare the following accounts in the books of the Dhia Enteprise: (a) Calculation of interest and installments [7 marks] (answer must be rounded up to the nearest RM) (b) Machine Account [3 marks] (c) Rana Ltd Account [7 marks] (d) Suspense Interest Account [5 marks] (e) Disposal Account [3 marks] 9 SULIT

9 SOALAN 4 Pada 1 Januari, 2012, Dhia Enterprise membeli mesin dari Rana Ltd secara sewa beli selama 3 tahun. Di bawah adalah maklumat mengenai perjanjian sewa beli tersebut antara dua pihak : i) Harga tunai mesin adalah RM150, 000. ii) Deposit adalah 12% daripada harga tunai mesin. iii) Bayaran ansuran setiap 6 bulan yang bermula pada 30 Jun iv) Kadar faedah 10% setahun. v) Syarikat menggunakan kaedah angka digit untuk mengira faedah. Pada 30 April, 2014 mesin tidak boleh beroperasi disebabkan litar pintas. Dhia Enteprise menuntut insuran dari syarikat Insuran AAisyah dan menerima RM55,000 sebagai pampasan. Dhia Enterprise membayar RM32,000 kepada Rana Ltd sebagai penyelesaian kepada perjanjian sewa beli tersebut. Anda dikehendaki menyediakan akaun-akaun yang berikut di dalam Buku Dhia Enteprise: (a) Pengiraan faedah dan ansuran [7 markah] (jawapan mestilah dibundarkan kepada RM yang terhampir) (b) Akaun Mesin [3 markah] (c) Akaun Rana Ltd [7 markah] (d) Akaun Faedah Tergantung [5 markah] (e) Akaun Pelupusan [3 markah] SOALAN TAMAT 10 SULIT