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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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