Question 3 The bank statement and bank columns in the cash book of King Food Enterprise for the month of April 2021 are as follows: RM Date April 1 8 9 16 16 18 23 27 Bank Statement for the month of April 2021 Debit Credit RM Balance b/d Cheque no. 1001 790 Cheque no. 8001 750 Cheque no. 2150 465 Cheque no. 8002 2,165 Cheque no. 8003 440 Cheque no. 4010 1,535 Standing order 220 Credit transfer 100 Cheque no. 0300 240 Cheque no. 2050 230 Bank Charges 470 Balance RM 11,895 Cr 12,685 Cr 11,935 Cr 12,400 Cr 10,235 Cr 9,795 Cr 11,330 Cr 11,110 Cr 11,210 Cr 11,450 Cr 11,680 Cr 11,210 Cr 28 30 30 30 ABFA1173 PRINCIPLES OF ACCOUNTING Question 3 (Continued) Chq. No 8001 RM 750 Aprill Balance b/d Cash Book (Bank column) Chq. No RM 11,895 April 8 Wong Trading 1001 790 15 Jaya Enterprise 2150 465 Ammara 7 Mr Indra 8002 2,165 15 18 8003 440 22 4010 1,535 Cuaca Trading Wings Enterprise Marry House Club 30 Dewi 8004 285 29 30 8005 0300 30 Balance c/d 2,000 3,120 19,805 16,165 16,165 19,805 May 1 Balance b/d Additional information: i. King Food Enterprise has recorded cheque number 0300 as RM3,120, while the bank showed the correct amount of RM240. ii. Cheque number 2050 belonging to Kingi Enterprise has been wrongly credited to King Food Enterprise by the bank. iii. Cheque number 8005 issued to Marry was wrongly debited by King Food Enterprise in the cash book. Required: (a) Prepare the updated cash book for the month of April 2021. (9 marks) (b) Prepare the bank reconciliation statement as at 30 April 2021. (6 marks) (c) Classify FOUR (4) items which are not included in updating the bank reconciliation statement (2 marks) (B) The following information was provided by Carissa Enterprise: Carissa Enterprise Statement of financial position (extract) as at 31 May 2020 RM Current assets Rental receivables 5,000 Current liabilities Accrued utilities 200 ABFA1173 PRINCIPLES OF ACCOUNTING Question 3 (Continued) Carissa Enterprise Statement of profit or loss (extract) for the year ended 31 May 2021: RM Revenue Rent received 10,000 Expenses Utilities 2,000 Additional information: i. Prepaid utilities as at 31 May 2021 were RM800. ii. Accrued rent received as at 31 May 2021 amounted to RM7,000. Required: Prepare the following for the year ended 31 May 2021: (a) Rent received account; (4 marks) (b) Utilities account. (4 marks) [Total: 25 marks] Question 3 The bank statement and bank columns in the cash book of King Food Enterprise for the month of April 2021 are as follows: RM Date April 1 8 9 16 16 18 23 27 Bank Statement for the month of April 2021 Debit Credit RM Balance b/d Cheque no. 1001 790 Cheque no. 8001 750 Cheque no. 2150 465 Cheque no. 8002 2,165 Cheque no. 8003 440 Cheque no. 4010 1,535 Standing order 220 Credit transfer 100 Cheque no. 0300 240 Cheque no. 2050 230 Bank Charges 470 Balance RM 11,895 Cr 12,685 Cr 11,935 Cr 12,400 Cr 10,235 Cr 9,795 Cr 11,330 Cr 11,110 Cr 11,210 Cr 11,450 Cr 11,680 Cr 11,210 Cr 28 30 30 30 ABFA1173 PRINCIPLES OF ACCOUNTING Question 3 (Continued) Chq. No 8001 RM 750 Aprill Balance b/d Cash Book (Bank column) Chq. No RM 11,895 April 8 Wong Trading 1001 790 15 Jaya Enterprise 2150 465 Ammara 7 Mr Indra 8002 2,165 15 18 8003 440 22 4010 1,535 Cuaca Trading Wings Enterprise Marry House Club 30 Dewi 8004 285 29 30 8005 0300 30 Balance c/d 2,000 3,120 19,805 16,165 16,165 19,805 May 1 Balance b/d Additional information: i. King Food Enterprise has recorded cheque number 0300 as RM3,120, while the bank showed the correct amount of RM240. ii. Cheque number 2050 belonging to Kingi Enterprise has been wrongly credited to King Food Enterprise by the bank. iii. Cheque number 8005 issued to Marry was wrongly debited by King Food Enterprise in the cash book. Required: (a) Prepare the updated cash book for the month of April 2021. (9 marks) (b) Prepare the bank reconciliation statement as at 30 April 2021. (6 marks) (c) Classify FOUR (4) items which are not included in updating the bank reconciliation statement (2 marks) (B) The following information was provided by Carissa Enterprise: Carissa Enterprise Statement of financial position (extract) as at 31 May 2020 RM Current assets Rental receivables 5,000 Current liabilities Accrued utilities 200 ABFA1173 PRINCIPLES OF ACCOUNTING Question 3 (Continued) Carissa Enterprise Statement of profit or loss (extract) for the year ended 31 May 2021: RM Revenue Rent received 10,000 Expenses Utilities 2,000 Additional information: i. Prepaid utilities as at 31 May 2021 were RM800. ii. Accrued rent received as at 31 May 2021 amounted to RM7,000. Required: Prepare the following for the year ended 31 May 2021: (a) Rent received account; (4 marks) (b) Utilities account. (4 marks) [Total: 25 marks]
