Question - Test Acc106 Mac 2021 - 2july2021
Question - Test Acc106 Mac 2021 - 2july2021
Question - Test Acc106 Mac 2021 - 2july2021
INSTRUCTIONS TO CANDIDATES
2. Answer ALL questions in your answer sheet. Start each answer on a new page. 15 MINUTES
BEFORE THE TIME EXPIRE, PLEASE SCAN ALL YOUR WORK AND SAVE IT IN ONLY
ONE PDF FILE AND UPLOAD IT TO THE SYSTEM (GOOGLE CLASSROOM).
3. You may refer to books. However, YOU ARE NOT ALLOWED TO COMMUNICATE IN
WHATEVER MANNER. Please use your time wisely.
4. Answer the questions in only 1 HOUR AND 30 MINUTES. The next 15 minutes is for you to
get attachment ready for submission. LATE SUBMISSION WILL BE PENALIZED
ACCORDINGLY.
1
CONFIDENTIAL JULY2021/TEST/ACC106
QUESTION 1
The following transactions were extracted from the book of Iqlas Trading for the month of June
2021.
Required:
Identify the appropriate book of prime entry to record the above transactions.
(Total: 10 marks)
2
CONFIDENTIAL JULY2021/TEST/ACC106
QUESTION 2
The following is the Trial Balance was extracted from the books of Vaccine Enterprise as at 31
December 2020.
Capital 300,000
Utilities 1,800
Printing 500
Drawing 2,000
Cash 5,000
3
CONFIDENTIAL JULY2021/TEST/ACC106
Bank 38,000
687,000 687,000
Additional information:
2. The insurance expense is for one year period, started on 1 July 2020.
4. The loan from Maybank was taken on 1st April 2020. No interest has been paid on this
loan at the end of the accounting period.
5. Fixed deposit was made on 1st October 2020. No interest has been received.
7. The owner withdrew cash RM500 and goods worth RM1,000 for personal use.
8. 30% of carriage expenses were carriage inwards and the remainder were carriage
outwards.
Accruals RM Prepayments RM
Salaries and wages 1,750 Rental expenses 700
Rental income 500
Required:
a. Prepare a Statement of Profit or Loss for the year ended 31 December 2020.
(18 marks)
b. Prepare a Statement of Financial Position as at 31 December 2020.
(12 marks)
Note: Use vertical format presentation (Total: 30 marks)