Question
1- Total assets of Nine Bhd were RM800,000 and liabilities were 50% of owner's equity. Calculate the equity of Nine Bhd. Round off to nearest
1-
Total assets of Nine Bhd were RM800,000 and liabilities were 50% of owner's equity. Calculate the equity of Nine Bhd. Round off to nearest ringit. *
1 point
RM533,333
RM200,000
RM400,000
RM266,666
2-
Restaurant AA has been operating for one year and recorded revenues of RM100,000 and expenses of RM34,000 at the end of the first year. Determine the net income for the year if the following entries are not yet recorded. Salaries not yet paid RM5,000; Rent not yet paid RM3,000 *
1 point
RM 64,000
RM 74,000
RM 58,000
RM 68,000
3-
Petal Company had the following transactions during the month of December 2021. Determine its net income. Sold RM45,000 merchandise to a client. Paid RM2,000 cash for advertising. Paid RM1,000 cash for fire insurance. Paid salaries to two employees amounting to RM10,000. Received RM20,000 for rent revenue. *
1 point
RM55,000
RM42,000
RM52,000
RM32,000
4-
In our opinion, the financial statements of Sime Darby Berhad (the Company) and its subsidiaries (the Group) give a true and fair view of the financial position of the Group and of the Company as at 30 June 2020, and of their financial performance and their cash flows for the financial year then ended in accordance with.Based on the excerpt from the annual report of Sime Darby, choose the accounting principle that has been complied. *
1 point
Faithful representation
Conservatism
Business entity
Cost-benefit
4-
Restaurant AA has been operating for one year and recorded revenues of RM100,000 and expenses of RM34,000 at the end of the first year. Determine the net income for the year if the following adjusting entries are made. Rent expense of RM15,000 was actually paid in advance; Depreciation expense not yet recorded RM2,000 *
1 point
RM 81,000
RM 83,000
RM 79,000
RM 49,000
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