Question 1

1. Atthe beginning of the year, as of 1 January2021, Megah KayanganSdn. Bhd. (MKSB) owned assets amounting to RM125,000 and the owners equity of RM100,000. During the year, its assets increased by RM30,000 and its liability decreased by RM12,000. The company is closed its accountson 31 December 2021.

1. Calculate the total liabilities of MKSB at the beginning of the year (1 January 2021).

(2 marks)

1. Calculate how much is the MKSB ownersequity at the end of the year (31

December2021). (2 marks)

1. The following are the year-end balances in Pak Mat Grocery Shops ledgers:

	RM
Sales	42,800
Purchases	31,300
Cash	7,800
Bank accounts	32,100
Bank loan	30,000
Motor vehicle	42,000
Expenses	13,000
Inventory	12,200
Trade payables Ah Kok Supply	15,600
Capital	50,000

Based on the ledger above, prepare the Trial Balance for Pak Mat Grocery Shop. (5 marks)

1. Question i, ii and iii are related to the information below:

Assets (RM)	Owners Equity (RM)	Liabilities (RM)	Revenues (RM)	Expenses (RM)
103,200	50,000	30,700	X	35,700
Y	100,000	45,800	120,000	73,000
200,000	Z	54,800	93,000	67,800

1. Calculate the value of X. (1 mark)

1. Calculate the value of Y. (1 mark)

1. Calculate the value of Z. (1 mark)

1. Based on the information below, calculate the total depreciation of fixed assets(current year) owned by Rona Bakery.

(6 marks)

i.	Delivery van Cost: RM82,000 Depreciation rate:20% Depreciation method: straight-line
ii.	Chillers Cost: RM16,000 Depreciation: 15% perannum Accumulated depreciation: RM1,600 Depreciation method: Reducing balance

1. Indicate with an X whether each item is an asset, liability, owners equity, revenue, or

expense account. There is only one correct answer for each item.

	Item	Asset	Liability	Owners Equity	Revenue	Expense
1	Dividend received
2	Trade receivables
3	Contributed capital
4	Overdraft bank
5	Machinery
6	Salary expenses
7	Inventories
8	Loan to XYZ Sdn Bhd
9	Trade payables
10	Mortgage on-premises