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Puan Nun and her sons are the owners of Mentari Sdn Bhd. They started their stationery business on 1 January 2013. None of them has
Puan Nun and her sons are the owners of Mentari Sdn Bhd. They started their stationery business on 1 January 2013. None of them has accounting background. At the end of the accounting period which is on 31 December 2013, they have difficulties in preparing financial reports for their business. Since you have knowledge in accounting, they seek your help to prepare the reports. Given below are the particulars of Mentari Sdn Bhd Particulars Amount (RM) Building 80.000 Accounts Receivable 30.000 Rent received 1.300 Electricity 250 Loan from Bank Islam 38 200 Short term deposit 7.550 Interest on loan 200 Con revenue 2.000 Accounts Payable 2.300 Cash at bank 28.500 Insurance 1.200 Repairs 500 Required: Based on the scenario above, answer the following questions: a State the type of business entity owned by Puan Nun and her sons? (1 mark) b. State any five (5) characteristics possessed by Mentari Sdn Bhd (5 marks) c. Classify the items above into assets and liabilities. (3 marks) d. Calculate the total amount of assets. (2 marks) e. Calculate the total amount of expenses. (2 marks) f. Calculate the total amount of liabilities (1 mark) 9. Calculate the total amount of revenue. (1 mark) h. Calculate the amount of capital for Mentari Sdn Bhd using the accounting equation. (2 marks) Puan Nun and her sons are the owners of Mentari Sdn Bhd. They started their stationery business on 1 January 2013. None of them has accounting background. At the end of the accounting period which is on 31 December 2013, they have difficulties in preparing financial reports for their business. Since you have knowledge in accounting, they seek your help to prepare the reports. Given below are the particulars of Mentari Sdn Bhd Particulars Amount (RM) Building 80.000 Accounts Receivable 30.000 Rent received 1.300 Electricity 250 Loan from Bank Islam 38 200 Short term deposit 7.550 Interest on loan 200 Con revenue 2.000 Accounts Payable 2.300 Cash at bank 28.500 Insurance 1.200 Repairs 500 Required: Based on the scenario above, answer the following questions: a State the type of business entity owned by Puan Nun and her sons? (1 mark) b. State any five (5) characteristics possessed by Mentari Sdn Bhd (5 marks) c. Classify the items above into assets and liabilities. (3 marks) d. Calculate the total amount of assets. (2 marks) e. Calculate the total amount of expenses. (2 marks) f. Calculate the total amount of liabilities (1 mark) 9. Calculate the total amount of revenue. (1 mark) h. Calculate the amount of capital for Mentari Sdn Bhd using the accounting equation. (2 marks)
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