ACC106

ASSIGNMENT ACCOUNT

NAMA PENSYARAH : DR NORAIZAH BINTI ABU BAKAR

NAMA NO. MATRIK

NOOR SYAFIQAH BINTI SALAHUDIN 2019400914
NUR ’AFIFAH BINTI ASRI 2019439188
NUR AZLIN ZURITA BINTI ABDULLAH 2019275614
QUESTION 3

Sutra Enterprise

Statement of comprehensive Income for 31 March 2016

RM RM RM
Sales 350 000
Less: Return Inward (35 000)
Net Sales 315 000

Less: Cost of Good Sold/Cost Of Sales

Opening Inventory 8000
Purchase 270 000
Less: Return Outward (27 000)
Net Purchase 243 000

Add: Cost Of Production

Carriage Inwards 1 200
Duty On Purchase -
Import Duties -
Insurance On Purchase - 1 200
Cost Of Good Available For Sale 252 200

Less: Closing inventory (10 000)

Cost of Good Sold/Cost Of Sales (242 200)
Gross Point 72 800

Add: Revenue/Income
Rental Received 6 000
Interest On Fixed Deposit 4 000
10 000
82 200
Less: Expenses
Selling and Distribute Expenses
Carriage Outward 2 000
Fines And Penalties 1 000
(3 000)
79 800
Administrative and General Expenses
Salaries and Wages 17 500
Utilities 4 700
(22 200)
57 600
Financial Expenses
Interest On Bank Overdraft 120
Interest On Loan 12 500
(12 620)
Net Profit 44 980
 Sutra Enterprise

Statement Of Financial Position As At 31 March 2016

RM RM RM
Non-Current Asset
Property, Plant and Equipment Cost Accumulate Net Book
d Value
Depreciation
Fixtures And Fittings 50 000
Land And Building 500 000

Goodwill
Other Intangible
Patents 100 000

Investment
Fixed Deposits 80 000

Current Assets
Inventory 10 000
Account Receivables 12 000
Cash 15 000
37 000
Total Assets 767 000

Financed By:
Owner’s Equity
Capital 451 720
Add: Net Profit 44 980
Less: Drawing (1 700)
Capital Ending 495 000

Non-Current Liabilities
Long-Term Loan 250 000
250 000
745 000

Current Liabilities
Account Payable 20 000
Bank Overdraft 2 000
22 000
767 000
QUESTION 3

Matt Dani Enterprise

Statement of comprehensive Income for 31 December 2016

RM RM RM
Sales 60 000
Less: Return Inward (1 000)
Net Sales 59 000

Less: Cost of Good Sold/Cost Of Sales

Opening Inventory 2 000
Purchase 25 000
Less: Return Outward (1 500)
Net Purchase 23 500

Add: Cost Of Production

Carriage Inwards -
Duty On Purchase 1 500
Import Duties -
Insurance On Purchase - 1 500
Cost Of Good Available For Sale 27 000
nb
Less: Closing inventory (5 000)
Cost of Good Sold/Cost Of Sales (22 000)
Gross Point 37 000

Add: Revenue/Income
Commission Received 1 000
Discount Received 2 000
3 000
40 000

Less: Expenses
Selling and Distribute Expenses
Carriage Outward 1 000
Motor Repair 3 400
(4 400)
35 600
Administrative and General Expenses
Salaries and Wages 12 000
Electricity 4 500
Discount Allowed 500
(17 000)
Net Profit 18 600
 Matt Dani Enterprise

Statement Of Financial Position As At 31 December 2016

RM RM RM
Non-Current Asset
Property, Plant and Equipment Cost Accumulate Net Book
d Value
Depreciation
Shop Building 50 000
Delivery Van 35 000

Goodwill
Other Intangible
Patents 8 000

Investment
Quoted Investment -
Fixed Deposited -
Government Bonds -
Unquoted Investment -

Current Assets
Inventory 5 000
Account Receivables 1 500
Cash In Hand 5 000
Cash In Bank 20 000
31 500
Total Assets 124 500

Financed By:
Owner’s Equity
Capital 40 000
Add: Net Profit 18 600
Less: Drawing (100)
Capital Ending 58 500

Non-Current Liabilities
Mortgage On Premises 50 000
50 000
108 500
Current Liabilities
Account Payable 8 000
Bank Overdraft 8 000
16 000
124 500