Q$1.$ Suppose you are an auditor who has been tasked with looking into the internal controls at a company. Define an internal control system and list the main principles of internal controls. $(5$ Mark$)$

Q$2.$ A company allows its customers to use bank credit cards to charge purchases. The company is charged $2\mathrm{.}5\%$ service charge credit card sales. $(5$ Mark$)$

A$.$ On April $10,$ the company sold SAR $27,000$ worth of merchandise to customers who used credit cards.

B$.$ On April $18$ Received cash proceeds less the service charge for the April $10$

Prepare the company's journal entry for each of the above transactions.

Q$3$ A company's property records revealed the following information about its plant assets:

Machine No$.$ Cost Salvage Value Purchase Date Depreciation Method and Estimate Life

$1$ SAR $24,000$ SAR$4,0001/1/2023$ Straight$-$line $(4$ years$)$

$2$ SAR $30,000$ SAR$1,5001/1/2023$ Double$-$declining$-$balance $(5$ years$)$

Calculate the depreciation expense for each machine for the year ended December $31,2023,$ and for the year ended December $31,2024.($Marks $5)$

Machine $1$:

$2023$:

$2024$:

Machine $2$:

$2023$:

$2024$: