Acc418

Only available on StudyMode
  • Download(s) : 82
  • Published : October 19, 2012
Open Document
Text Preview
CONFIDENTIAL

AC/JAN 20121ACC418

UNIVERSITI TEKNOLOGI MARA FINAL EXAMINATION

COURSE

FINANCIAL ACCOUNTING ACC4I8 JANUARY 2012 3 HOURS

COURSECODE

EXAMINATION TIME

INSTRUCTIONS TO CANDIDATES
1. This question paper consists of two (2) parts: Answer ALL questions from all two (2) parts: i) ii) 3. Answer PART A in the Objective Answer Sheet. Answer PART B in the Answer Booklet. Start each answer on a new page. PART A (10 Questions) PART B (4 Questions)

Do not bring any material into the examination room unless permission is given by the invigilator. Please check to make sure that this examination pack consists of: i) ii) iii) the Question Paper an Answer Booklet - provided by the Faculty an Objective Answer Sheet - provided by the Faculty

4.

DO NOT TURN THIS PAGE UNTIL YOU ARE TOLD TO DO SO
This examination paper consists of 9 printed pages
© Hak Cipta Universiti Teknologi MARA

CONFIDENTIAL

CONFIDENTIAL PART A

2

AC/JAN 20121ACC418

This part consists of 10 multiple-choice questions. Choose the most suitable answer and shade the corresponding alphabet representing the answer in the multiple choice answer sheet provided. Which of the following entries is correct? a. b. C.

1.

d.

Increase in assets Decrease in liability Decrease in capital Increase in drawings

Credit assets account Credit liability account Debit capital account Credit drawings account (1 mark)

2.

Which of the following is not considered as drawings? a. b.
C.

d.

Withdrew cash for personal use Withdrew goods for personal use Withdrew cash from the bank for business use Withdrew asset from the business for personal use (1 mark)

ci

Mat Shah is a sole trader who sells electrical goods. The following purchases will be classified as inventories except the purchase of: a. b. C.

d.

Motor vehicle Washing machine Refrigerator Oven

(1 mark)
4 Which of the following accounting equation is correct? Assets Capital 10,000 5,000 5,000 10,000 5,000 5,000 none of the above Liabilities 5,000 5,000 10,000 (2 marks) 5. Rental income received in advance would be recorded in the balance sheet as: a. b. C.

a. b.
C.

d.

d.

Current liability Current asset Non current liability Non current asset

(1 mark)

© Hak cipta Universiti Teknologi MARA

CONFIDENTIAL

CONFIDENTIAL
6.

3

AC/JAN 20121ACC418

Which of the following non current assets does not require depreciation? a. b. C.

d.

Building Motor Vehicle Land Machinery

(1 mark)

7.

Bad debt recovered is classified as a. b.
C.

d.

a revenue an expense an asset a liability (1 mark)

8.

A bank reconciliation statement is a statement that is a. b. C.

d.

drawn up by the business to check the cash book balance with the bank statement balance. drawn up by the bank to check the cash book. sent by the bank when we have made an error. sent by the bank when the account is overdrawn. (1 mark)

9.

The current ratio shows the a. b.
C.

d.

amount that the current liabilities exceed the current assets. profitability of the business. cash position of the business. relationship between the current assets and current liabilities.

(1 mark)

10.

Accounting requires the transactions to be recorded twice in the books of accounts and this is related to the a. b. C.

d.

Duality concept Historical cost concept Accounting entity concept Going concern concept (1 mark) (Total: 11 marks)

© Hak Cipta Universiti Teknologi MARA

CONFIDENTIAL

CONFIDENTIAL PART B QUESTION I
A.

4

AC/JAN 2012/ACC4I8

Below are the transactions of Kedai Elektrik Abu for the month of September 2011. Date 1 Sept. 3 Sept. 4 Sept. 10 Sept. 12 Sept. 14 Sept. 16 Sept. Transactions The owner brought in cash RM100,000 into the business. The business purchased goods from Seng Heng Sdn Bhd on credit amounting RM5,500. Sold goods on credit...
tracking img