SECTION A: 100 MARKS BAHAGIAN A: 100 MARKAH INSTRUCTION: This section consists of FOUR (4) essay questions. Answer ALL questions. ARAHAN: Bahagian ini mengandungi EMPAT (4) soalan esei. Jawab SEMUA soalan QUESTION 1 C2 a) Briefly explain:- i. Share premium ii. Debenture [5 marks] b) Following are the capital instruments for Hananiea Sdn Bhd: Description Ordinary Shares 5% Preference Shares Authorised capital 50,000,000 units @ 2.00 each 30,000,000@3.00 Paid-up capital 20,000,000 units at par - Issued capital 30,000,000 units @ 2.80 each All (payment in full) (refer table below) Application received 35,000,000 units All Application rejected 5,000,000 units nil Call in advance (1 st & 2 nd call) 500,000 units nil The directors decide to issue Ordinary Shares at premium 0.80 per share and the payments are as follows: On application 100 cent (0.50 premium) On allotment 80 cent (0.30 premium) On 1 st call 50 cent On 2 nd call 50 cent C2 Based on the information above, you are required to prepare: i. Journal entries to record the above transactions [15 marks] ii. Statement of Financial Position (extract) after 2 nd call. [ 5 marks] 2 SULIT
SOALAN 1 C2 a) Jelaskan dengan ringkas:- i. Premium saham ii. Debentur [5 markah] b) Berikut adalah struktur modal bagi Hananiea Sdn Bhd: Penerangan Saham Biasa 5% Saham Keutamaan Modal dibenarkan 50,000,000 unit @ 2.00 30,000,000@3.00 setiap satu Modal berbayar 20,000,000 unit pada nilai par - Modal diterbitkan 30,000,000 unit @ 2.80 setiap satu Diterbitkan sepenuhnya (bayaran penuh) (rujuk jadual dibawah) Penerimaan permohonan 35,000,000 unit Penerimaan penuh Permohonan ditolak 5,000,000 unit tiada Panggilan terdahulu (panggilan 1 & 2) 500,000 unit tiada Lembaga Pengarah telah bersetuju untuk menerbitkan saham biasa pada nilai premium 0.80 per saham berbayar seperti di bawah: Permohonan 100 sen (0.50 premium) Perumpukan 80 sen (0.30 premium) Panggilan 1 50 sen Panggilan 2 50 sen C2 Berdasarkan maklumat di atas, anda dikehendaki menyediakan: i. Catatan jurnal yang berkenaan untuk merekod segala transaksi yang terlibat ii. Penyata Kedudukan Kewangan selepas panggilan kedua. [15 markah] [5 markah] 3 SULIT
QUESTION 2 The following trial balance has been extracted from ledgers of Izzammar Bhd as at 31 March 2013 Debit Credit 000 000 Plant and machinery at cost 110,000 Building at cost 300,000 Freehold land at cost 54,000 Accumulated depreciation (1 April 2012) ~ Plant and machinery 42,500 ~ Building 105,000 Trade receivables 41,000 Bank overdraft 9,500 Cash in hand 1,750 Ordinary shares of 1 each 150,000 10% Preference share at 1 each 62,500 Share premium 21,000 Retained profits 1,375 10% debentures 60,000 Trade payables 20,500 Sales 338,500 Purchases 161,500 Inventory (1 April 2012) 7,500 Administrative expenses 45,000 Selling and distribution expenses 51,000 Director remuneration 12,000 Audit fees 1,000 Interim dividend - Preference share 3,125 - Ordinary share 7,500 Interest paid 3,000 Tax paid 12,500 810,875 810,875 4 SULIT
Additional information: 1. Closing inventory as at 31 March 2013 was 8,000,000 2. Debenture interest for the second half-year has not been provided. 3. Provision are to be made for a) Final preference dividend; and b) Final ordinary dividends of 5%. 4. Depreciation is to be provided as follows: a) Building - 4% per annum on cost (administrative expenses). b) Plant and machinery - 10% per annum on carrying amount (selling expenses). 5. The tax expense for the year was 11,500,000. The amount shown in the trial balance is the amount paid for the current financial year. C3 You are required to prepare: a) Statement of Comprehensive Income for the year ended 31 March 2013 b) Statement of Changes in Equity for the year ended 31 March 2013 c) Statement of Financial Position as at 31 March 2013 for internal users. [10 marks] [5 marks] [10 marks] 5 SULIT
SOALAN 2 Berikut adalah Imbangan Duga yang dipetik daripada lejar Izzammar Bhd pada 31 March 2013. Debit Credit 000 000 Loji dan Mesin pada kos 110,000 Bangunan pada kos 300,000 Hartanah 54,000 Susutnilai terkumpul (1 April 2012) ~ Loji dan Mesin 42,500 ~ Bangunan 105,000 Akaun Belum Terima 41,000 Overdraf Bank 9,500 Tunai 1,750 Saham biasa pada 1 setiap satu 150,000 10% Saham Keutamaan pada 1 setiap satu 62,500 Premium syer 21,000 Untung tertahan 1,375 10% debentur 60,000 Akaun Belum Bayar 20,500 Jualan 338,500 Belian 161,500 Inventori (1 April 2012) 7,500 Belanja pentadbiran 45,000 Belanja jualan dan penghantaran 51,000 Imbuhan Pengarah 12,000 Bayaran audit 1,000 Dividen interim - Saham keutamaan 3,125 - Saham biasa 7,500 Bayaran faedah 3,000 Bayaran cukai 12,500 810,875 810,875 6 SULIT
Maklumat tambahan: 1. Stok akhir pada 31 March 2013 adalah 8,000,000 2. Faedah debentur bagi separuh tahun kedua tidak diperuntukan. 3. Peruntukan perlu dibuat untuk: a) Dividen akhir saham keutamaan b) 5% dividen akhir saham biasa 4. Susutnilai diperuntukkan seperti berikut: a) Bangunan 4% setahun atas kos (perbelanjaan pentadbiran) b) Loji dan Mesin 10% setahun atas kos (perbelanjaan jualan) 5. Belanja cukai bagi tahun ini adalah 11,500,000. Jumlah yang ditunjukkan dalam imbangan duga adalah amaun yang dibayar bagi tahun kewangan semasa. C3 Anda dikehendaki untuk menyediakan: a) Penyata Pendapatan Komprehensif bagi tahun berakhir 31 March 2013 b) Penyata Perubahan Ekuiti bagi tahun berakhir 31 March 2013 c) Penyata Kedudukan Kewangan bagi tahun berakhir 31 March 2013 [10 markah] [5 markah] [10 markah] 7 SULIT
QUESTION 3 C1 a) Give the definition of: a. Cash b. Cash Equivalent [4 marks] C1 b) State any TWO (2) usefulness of cash flows accounting. [4 marks] c) Given below are the Statement of Financial Position as at 31 December 2012 and 2013 and the Income Statement for the year ended 31 December 2013 of Inang Suri Berhad: Statement of Financial Positions as at 31 December 2012 and 31 December 2013 ASSET: Cash Receivable Account Inventory Land Vehicles Provision for Depreciation Vehicles Goodwill (Net) 31 December 2012 () 1,300 1,700 3,700 48,500 15,000 (1,900) 2,800 31 December 2013 () 2,500 2,700 4,800 38,500 18,000 (2,300) 2,700 LIABILITY AND EQUITY: 71,100 66,900 Payable Account Bond Payable Notes Payable Ordinary Share @ 5.00 per unit Share Premium Retained Earnings 2,800 2,500 NIL 6,500 11,500 47,800 2,200 500 3,000 7,000 12,800 41,400 71,100 66,900 8 SULIT
Statement of Comprehensive Income for the year ended 31 December 2013 Revenue 6,000 (-) Expenditures: Operation Expenses 2,000 Loss on disposal of land 3,000 Goodwill Amortization 100 Depreciation of vehicles 400 (5,500) Profit for the year 500_ Additional information: 1. 100 units of ordinary shares of 5.00 per unit was issued and fully paid at 18.00 per unit on the application. 2. Dividends for current year are fully paid by cash. 3. Bond payable is a form of long term loan and has been retired at book value. 4. Land at cost of 10,000 was sold at 7,000. 5. A vehicle was purchased by issuing long term notes payable. C3 You are required to prepare the Statement of Cash Flow (Indirect Method) for the year ended 31 December 2013. [17 marks] 9 SULIT
SOALAN 3 C1 a) Berikan definisi: i. Tunai ii. Persamaan tunai [4 markah] C1 b) Nyatakan DUA (2) kegunaan Penyata Aliran Tunai. [4 markah] c) Berikut adalah Penyata Kedudukan Kewangan seperti pada 31 Disember 2012 dan 2013 dan Penyata Pendapatan Komprehensif bagi tahun kewangan berakhir pada Disember 2013 bagi Inang Suri Berhad. Penyata Kedudukan Kewangan pada 31 Disember 2012 dan 31 Disember 2013 ASET: Tunai Akaun Belum Terima Inventori Tanah Kenderaan Susutnilai Kenderaan Muhibbah (bersih) 31 Disember 2012 () 1,300 1,700 3,700 48,500 15,000 (1,900) 2,800 31 Disember 2013 () 2,500 2,700 4,800 38,500 18,000 (2,300) 2,700 EKUITI DAN LIABILITI: 71,100 66,900 Akaun Belum Bayar Bon Belum Bayar Nota Belum Bayar Modal Saham Biasa @ 5.00 seunit Premium Saham Pendapatan Tertahan 2,800 2,500-6,500 11,500 47,800 2,200 500 3,000 7,000 12,800 41,400 71,100 66,900 10 SULIT
Penyata Pendapatan Komprehensif bagi tahun berakhir 31 Disember 2013 Hasil 6,000 (-) Pelbagai Perbelanjaan: Belanja Operasi 2,000 Rugi atas jualan Tanah 3,000 Belanja Pelunasan muhibbah 100 Belanja susutnilai kenderaan 400 (5,500) Pendapatan bersih tahun semasa 500_ Maklumat tambahan: 1. 100 unit saham biasa pada nilai par 5.00 seunit telah diterbitkan dan dibayar penuh pada harga 18.00 seunit pada waktu permohonan. 2. Dividen untuk tahun semasa telah dijelaskan dengan tunai 3. Bon belum bayar adalah untuk jangka panjang dan telah disara pada nilai buku. 4. Tanah pada harga kos 10,000 telah dijual pada harga 7,000 tunai. 5. Kenderaan yang dibeli adalah dengan menerbitkan Nota Belum Bayar jangka panjang. C3 Anda dikehendaki menyediakan Penyata Aliran Tunai (Kaedah Tak Langsung) bagi tahun berakhir 31 Disember 2013. [17 markah] 11 SULIT
QUESTION 4 CLO 1 C1 a) Give ONE (1) objective of financial analysis. [2 marks] C1 b) List FIVE (5) types of financial ratios. [5 marks] c) Amsyar Sdn Bhd Statement of Comprehensive Income for the year ended 31 December 2013 Sales (80% credit) 530,000 Less: Cost of Goods Sold (270,000) Gross Profit 260,000 Less : Depreciation 18,000 Operating expenses 32,000 Interest 8,000 (58,000) 202,000 Taxes (18,300) Net Profit 183,700 12 SULIT
Amsyar Sdn Bhd Statement of Financial Position for the year ended 31 December 2013 ASSETS Bank 28,500 Marketable securities 18,700 Inventory 34,500 Account Receivable 27,400 Prepaid Rent 1,500 Non-current Assets 355,000 465,600 Stockholders Equity and Liabilities Common Stockholders equity 268,900 Long Term Debt 100,000 Account Payable 85,500 Accruals 1,200 Note Payable 10,000 465,600 13 SULIT
Industries Average 2013 Current asset ratio 2.0x Acid-test ratio 1.4x Debt ratio 65% Time interest earned 18.0x Average collection period (365 days) Inventory turnover 22days 6x Total assets turnover 1.9x Return on assets 8.4% Net profit margin 11.5% Gross profit margin 30% C3 i. Calculate the above ratios for Amsyar Sdn Bhd for the year ended 31 December 2013. [15 marks] C2 ii. Give your comment on the company s Liquidity ratio for 2013 as compared to the industries averages. [3 marks] 14 SULIT
SOALAN 4 C1 a) Berikan SATU (1) objektif analisis kewangan. [2 markah] C1 b) Senaraikan LIMA (5) jenis nisbah kewangan? [5 markah] c) Amsyar Sdn Bhd Penyata Pendapatan Komprehensif bagi tahun berakhir 31 Disember 2013 Jualan ( 80% kredit) 530,000 Tolak: Kos Barang Dijual (270,000) Untung Kasar 260,000 Tolak : Susut nilai 18,000 Belanja Operasi 32,000 Faedah 8,000 (58,000) 202,000 Cukai (18,300) Untung Bersih 183,700 15 SULIT
Amsyar Sdn Bhd Penyata Kedudukan Kewangan bagi tahun berakhir 31 Disember 2013 ASET Bank 28,500 Sekuriti Boleh Pasar 18,700 Inventori 34,500 Akaun Belum Terima 27,400 Sewa Prabayar 1,500 Aset Bukan Semasa 355,000 465,600 Ekuiti Pemegang Saham dan Liabiliti Ekuiti Pemegang Saham Biasa 268,900 Hutang jangka panjang 100,000 Akaun Belum Bayar 85,500 Terakru 1,200 Nota Belum Bayar 10,000 465,600 16 SULIT
Purata Industri 2013 Nisbah asset semasa 2.0x Nisbah ujian asid 1.4x Nisbah hutang 65% Kadar faedah diperolehi 18.0x Purata tempoh hutang(365 hari) Pusingan inventori 22hari 6x Pusingan jumlah aset 1.9x Pulangan atas aset 8.4% Margin untung bersih 11.5% Margin untung kasar 30% C3 i. Kirakan nisbah untuk Syarikat Amsyar Sdn Bhd bagi tahun berakhir 31 Disember 2013. [15 markah] C2 ii. Berikan komen anda mengenai nisbah kecairan syarikat bagi tahun 2013 jika dibandingkan dengan purata industri. [3 markah] SOALAN TAMAT 17 SULIT