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QUESTION 3 Part A Vaadhoo Berhad uses perpetual inventory system and FIFO method. The following information is available for the month of April 2019: 1

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QUESTION 3 Part A Vaadhoo Berhad uses perpetual inventory system and FIFO method. The following information is available for the month of April 2019: 1 Beginning inventory 40 units @ RM5 10 Purchase 40 units @ RM8 15 Sales 30 units 18 Purchase 20 units @ RM9 21 Sales 30 units Required: Prepare a schedule to show cost of goods sold and the value of the ending inventory for the month of April 2019. (15 marks) Continued... BAC1034 PRINCIPLES OF FINANCIAL ACCOUNTING 4 MARCH 2020 Part B Listed below are items for bank reconciliation for Ukulhas Berhad for the month of May 2019: 1. Deposit in transit, RM3,200. 2. The bank deducted RM200 for a cheque written by another company. 3. Outstanding cheques of RM2,680. 4. EFT receipt of rent revenue, RM1,800. 5. Bank collection of note receivable, RM4,200. 6. Interest revenue earned on bank balance, RM60. 7. Recorded cheque no. 777 for RM2,100. The amount actually paid to Gulhi Co. on account was RM1,200. 8. Bank service charge, RM40. 9. NSF cheque from Isdhoo Ent., RM100. 10. EFT payment of insurance expense, RM800. Required: By using the items in the box below, identify where the amount would be located or otherwise treated in the bank reconciliation process. Code Treatment A Add to the cash balance per books B Deduct from the cash balance per books Add to the cash balance per bank D Deduct from the cash balance per bank (10 marks)

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