SULIT DPA3013 : FINANCIAL ACCOUNTING 2

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

ARAHAN :
Bahagian ini mengandungi EMPAT (4) soalan berstruktur. Jawab SEMUA soalan.

QUESTION 1

On January 1 2015, Junior Berhad has bought a machine from VIVA Supplies on hire
purchase. The hire-purchase agreement between Junior Berhad and VIVA Supplies
contains the following:
Cash price RM36, 868
Deposit paid RM12, 000
Annual installment RM10, 000 for 3 years
Hire-purchase interest rate 10% per annum on outstanding balance on January 1

The machine is to be depreciated at 20% per annum on cost.

You are required to:

CLO2 a) State TWO (2) differences between hire purchase sale and credit sale.
C1
[5 marks]

CLO2 b) Calculate interest suspense of hire purchase for Junior Berhad.

C2 [10 marks]
c) Demonstrate the accounts of Junior Berhad:

CLO2
C3 i. Machine Account
[2 marks]
ii. Hire Purchase Interest Suspense Account
[2 marks]
iii. Hire Purchase Creditor Account
[3 marks]
iv. Accumulated Depreciation for Machine Account
[3 marks]

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SOALAN 1

Pada 1 Januari 2015, Junior Berhad telah membeli sebuah mesin daripada VIVA Supplies
secara sewa beli. Perjanjian sewa beli antara Junior Berhad dengan VIVA Supplies
adalah seperti berikut:
Harga tunai RM36, 868
Deposit dibayar RM12, 000
Ansuran tahunan RM10, 000 selama 3 tahun
Kadar faedah sewa beli 10% setahun atas baki pada 1 Januari

Susutnilai atas mesin dikenakan pada kadar 20% setahun atas kos.

Anda dikehendaki menyediakan:

a) Nyatakan DUA (2) perbezaan di antara sewa beli dan jualan kredit
CLO2
C1 [5 markah]
CLO2
C2 b) Mengira faedah sewabeli tertunggak bagi Junior Berhad
[10 markah]
c) Tunjukkan Akaun-akaun berikut dalam buku Junior Berhad:

i. Akaun Mesin
CLO2 [2 markah]
C3
ii. Akaun Faedah Sewabeli Tergantung
[2 markah]
iii. Akaun Pemiutang Sewabeli
[3 markah]
iv. Akaun Peruntukan Susutnilai Mesin
[3 markah]

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QUESTION 2

Miss Nur Fatin is a designer for lady’s shawl branded as “Fatynn”. She allowed Butik
Farah to produce and market the design and both agreed that Butik Farah need to pay
royalty of RM2 per unit of shawl sold. Miss Nur Fatin has set a minimum payment of
RM10,000 per annum. Any short workings can be recouped within a period of 2 years after
it has occurred.

Beginning from year 4, they agreed to increase the annual minimum payment from
RM10,000 to RM11,000 and other conditions were maintained. Both companies
accounting year ends on 31st December every year and royalty payment were also made on
the same date. Below is the information about the shawls sold for 4 years.

Year Quantity of sales

2012 4,600 units
2013 5,100 units
2014 5,200 units
2015 5,600 units

You are required to:

a) i Define royalty
CLO1 [2 marks]
C1
ii State THREE (3) accounts prepared in the landlord’s book
[3 marks]

CLO1 b) Demonstrate a royalty calculation table

C3 [10 marks]

c) Demonstrate :

CLO1 i. Miss Nur Fatin’s Account

C4 [5 marks]

ii. Short Workings Account

[4 marks]

iii. An extract of Butik Farah’s Statement of Comprehensive Income for the year
ended 31st December 2014
[1 mark]
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SOALAN 2

Miss Nur Fatin adalah pereka bagi selendang wanita yang dijenamakan sebagai
“Fatynn”. Beliau membenarkan Butik Farah untuk mengeluarkan dan memasarkan
rekaan tersebut dan mereka bersetuju bahawa Butik Farah akan membayar royalti
sebanyak RM2 untuk setiap selendang yang dijual. Miss Nur Fatin telah menetapkan
bayaran minimum adalah sebanyak RM10,000 setahun. Sebarang bayaran kurangan kerja
boleh dituntut dalam tempoh 2 tahun selepas ianya berlaku.

Bermula tahun ke 4, mereka bersetuju untuk menaikkan bayaran minimum dari RM10,000
kepada RM11,000 dan syarat-syarat lain dikekalkan. Tempoh perakaunan berakhir bagi
kedua-dua perniagaan adalah pada 31 Disember dan bayaran royalti juga dibuat pada
tarikh yang sama. Berikut adalah maklumat mengenai jualan selendang untuk 4 tahun.

Tahun Kuantiti jualan

2012 4,600 unit
2013 5,100 unit
2014 5,200 unit
2015 5,600 unit

Anda dikehendaki untuk:

a) i. Berikan definisi royalti

CLO1 [2 markah]
C1
ii. Nyatakan TIGA (3) akaun yang perlu dibuka dalam buku pemberi sewa
[3 markah]

CLO1 b) Tunjukkan jadual pengiraan royalti

C3 [10 markah]

c) Tunjukkan :

CLO1 i) Akaun Miss Nur Fatin

C4 [5 markah]

ii) Akaun Kurangan Kerja

[4 markah]

iii) Petikan Penyata Pendapatan Komprehensif bagi tahun berakhir

31 Disember 2014 bagi perniagaan Butik Farah
[1 markah]
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QUESTION 3

On 1st January 2014, Taman Tunku Yaacob Fitness Club had the following assets:
Bank RM3,500
Canteen Stock RM5,200
Club Building RM120,500

During the year ended 31 December 2014, Taman Tunku Yaacob Fitness Club received
and paid the following amounts:

RECEIPTS RM PAYMENTS RM
2013 Subscription 21,000 Rents and rates 12,600
2014 Subscription 3,000 Renovation of club building 52,000
Canteen income 44,000 Canteen purchases 24,000
Visitors’ fees 8,000 Secretarial expenses 2,160
Bank loan 49,500 Interest on loan 2,745
Competition fees 6950 Canteen expenses 7,400
Equipment 15,000

Additional information:
i. The canteen’s stock on 31st December 2014 was RM7,900.
ii. The equipment should be depreciated by 20% per annum.

You are required to:

CLO3 a) Record the above transaction to the following accounts:

C1

i. Canteen Trading Account for the year ended 31st December 2014.

ii. The Income and Expenditure Account for the year ended 31st December
2014.
[10 marks]

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CLO3 b) Demonstrate the financial position of the club by preparing the Statement of
C2
Financial Position as at 31st December 2014.
[10 marks]

c) Interpret the differences between CAPITAL EXPENDITURE and REVENUE

CLO3
C3 EXPENDITURE together with an example of each.
[5 marks]

SOALAN 3

Pada 1 Januari 2014, Taman Tunku Yaacob Fitness Club mempunyai aset-aset seperti
berikut:
Bank RM3,500
Stok Kantin RM5,200
Bangunan Kelab RM120,500

Sepanjang tahun kewangan berakhir 31 Disember 2014, Taman Tunku Yaacob Fitness
Club telah menerima dan membuat pembayaran seperti berikut:

PENERIMAAN RM PEMBAYARAN RM
Yuran 2013 21,000 Sewa dan Kadar bayaran 12,600
Yuran 2014 3,000 Ubahsuai bangunan kelab 52,000
Pendapatan kantin 44,000 Belian kantin 24,000
Yuran pelawat 8,000 Belanja kesetiausahaan 2,160
Pinjaman daripada bank 49,500 Faedah atas pinjaman 2,745
Yuran pertandingan 6950 Perbelanjaan kantin 7,400
Peralatan 15,000

Maklumat tambahan:
i. Stok kantin pada 31 Disember 2014 ialah RM7,900.
ii. Peralatan disusutnilaikan pada kadar 20% setahun.

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Anda dikehendaki untuk:

a) Rekodkan urusniaga di atas ke akaun-akaun berikut:

CLO3
C1 i. Akaun Perdagangan Kantin bagi tahun berakhir 31 Disember 2014.

ii. Akaun Pendapatan dan Perbelanjaan bagi tahun berakhir 31 Disember

2014.
[10 markah]

CLO3 b) Tunjukkan kedudukan kewangan kelab dengan menyediakan Penyata Kedudukan

C2
Kewangan pada 31 Disember 2014.
[10 markah]

c) Tentukan perbezaan antara PERBELANJAAN MODAL dan PERBELANJAAN

CLO3
C3 HASIL berserta satu contoh setiap satu.
[5 markah]

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QUESTION 4

The Trial Balance extracted on 30th April 2014 from the books of Schumi Sdn Bhd, a
furniture manufacturer.
Debit (RM) Credit (RM)
Factory machinery at cost 28,000
Accumulated depreciation of factory 5,000
machinery 1st May 2013
Office equipment 2,000
Accumulated depreciation of office equipment 800
1st May 2013
Trade debtors and creditors 15,000 16,000
Cash and bank 2,300
Bank loan 11,000
Stocks 1st May 2013
Raw materials 4,000
Incomplete production 16,400
Finished goods 9,000
Carriage inwards 1,200
Carriage outwards 700
Purchases – Raw materials 84,000
Light and heat 3,000
Rent and rates 6,600
Direct factory wages 19,900
Office wages 5,200
Sales commission to selling agents 1,400
Sales of finished goods 140,000
Capital 35,000
Drawings 9,100
207,800 207,800

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Additional information:
1. Stock on 30th April 2014 was:
a. Raw materials RM5,400
b. Incomplete production RM17,000
c. Finished goods RM8,000
2. Depreciation should be allowed:
Factory machinery on the straight line method over seven (7) years.
Office equipment on the reducing balance method at 25 % per annum.
3. On 30th April 2014:
Accrued direct factory wages amounted to RM600 and accrued office wages was
RM100.
Rent paid on 20th January 2014 included RM600 paid for the period 1st January to
30th June 2014.
4. Light and heat should be apportioned between the factory and office with the ratio
4:1 respectively, while rent and rates are 3:1 respectively.
5. A provision of RM1, 000 should be made for doubtful debts.

You are required to:

CLO1 a) List FIVE (5) elements of production cost.

C1 [5 marks]

CLO1 b) Compute gross profit/loss for Schumi Sdn Bhd.

C2 [5 marks]

c) Calculate net profit/loss for Schumi Sdn Bhd.

CLO1
C3 [5 marks]

d) Demonstrate Manufacturing Account for year ended 30th April 2014

CLO1
[10 marks]
C4

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SOALAN 4

Berikut ialah Imbangan Duga pada 30 April 2014 daripada buku Schumi Sdn Bhd
pengilang perabot.

Debit (RM) Kredit (RM)

Mesin Kilang (Kos) 28,000
Susutnilai terkumpul mesin kilang 1 Mei 5,000
2013
Peralatan pejabat 2,000
Susutnilai terkumpul peralatan pejabat 1 800
Mei 2013
Penghutang dan pemiutang 15,000 16,000
Tunai dan bank 2,300
Pinjaman bank 11,000
Stok 1 Mei 2013
Bahan mentah 4,000
Pengeluaran separuh siap 16,400
Barang siap 9,000
Angkutan masuk 1,200
Angkutan keluar 700
Belian – Bahan mentah 84,000
Cahaya dan haba 3,000
Sewa dan kadarbayaran 6,600
Upah kilang langsung 19,900
Upah pejabat 5,200
Komisen jualan kepada agen jualan 1,400
Jualan barang siap 140,000
Modal 35,000
Ambilan 9,100
207,800 207,800

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Maklumat tambahan:
1. Stok pada 30 April 2014 ialah:
a. Bahan mentah RM5,400
b. Pengeluaran separuh siap RM17,000
c. Barang siap RM8,000
2. Susutnilai yang dibenarkan:
Mesin kilang ialah menggunakan kaedah garis lurus selama tujuh (7) tahun
Peralatan pejabat menggunakan kaedah baki berkurangan pada kadar 25%
setahun.
3. Pada 30 April 2014:
Upah kilang langsung terakru bernilai RM600 dan upah pejabat terakru bernilai
RM100.
Sewa yang dibayar pada 20 Januari 2014 adalah termasuk sewa bernilai RM600
untuk tempoh 1 Januari hingga 30 Jun 2014.
4. Cahaya dan haba perlu diagihkan di antara kilang dan pejabat dengan nisbah 4:1,
manakala sewa dan kadar bayaran 3:1.
5. Satu peruntukan sebanyak RM1,000 hendaklah dibuat untuk hutang ragu.

Anda dikehendaki:

CLO1 a) Senaraikan LIMA (5) elemen kos pengeluaran.

C1 [5 markah]

CLO1 b) Jumlahkan untung/rugi kasar bagi Schumi Sdn Bhd.

C2
[5 markah]

CLO1 c) Kirakan untung/rugi bersih bagi Schui Sdn Bhd.

C3
[5 markah]

CLO1 d) Tunjukkan Akaun Perkilangan bagi tahun berakhir 30 April 2014

C4
[10 markah]

SOALAN TAMAT

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