BBM205/03 Basic Accounting
Course Project (25%)
Semester 1, January 2022
INSTRUCTIONS:
Directions
1. That is a person project and it covers information acquired from Unit 1 to
Unit 5.
2. There are 5 (5) follow questions on this project. Please reply ALL
questions. Complete marks awarded for CA is 100, which can contribute to 25% of the
total course Assessment.
three. Proof of plagiarism or collusion can be taken critically and the College
laws can be utilized strictly, henceforth please be accustomed to the
College’s definitions of plagiarism and collusion. You shouldn’t share your
solutions with others as a result of any proof of plagiarism or collusion discovered could
lead to ZERO mark being awarded to all concerned and additional disciplinary motion
taken.
four. For CA submission, please connect (utilizing “Insert Object”) your CA and submit
by means of the On-line Project Submission (OAS) system. Ensure you examine
your WOU e-mail after you may have submitted your CA as you can be notified in your
WOU e-mail if there’s a failure of submission or file corruption.
5. Your project can be assessed on the factual reply supplied based mostly in your
studying and Assessment from varied references associated to this course. As well as,
it is best to show a sound information of the subjects coated and cling to
the correct referencing method.
…2/-
2
6. Please comply with the format present by the College to your cowl web page.
7. Please identify and save your CA based on the next guideline:
Copyright © 2022 WOU
…three/-
three
Reply ALL questions under.
Question Assignment 1
The unadjusted trial steadiness and the adjustment information for Robin Coaching Institute are
given under together with adjusting entry data.
Robin Coaching Institute
Unadjusted Trial Stability as at 31 August 2021
RM RM
Money 58,000
Accounts receivable 59,000
Pay as you go insurance coverage 12,000
Tools eight,000
Collected depreciation for tools 2,000
Buildings 57,500
Collected depreciation for buildings 17,500
Land 55,000
Unearned hire 16,000
Financial institution mortgage 50,000
Capital 115,600
Charges earned 97,400
Wages 32,000
Utilities eight,000
Repairs and upkeep 5,000
Curiosity expense four,000
Complete 298,500 298,500
Extra data:
i. The Pay as you go Insurance coverage account consists of a cost for one 12 months coverage. An
Assessment of the insurance coverage bill signifies that one half of the coverage has expired
by the top of the 31 August year-end.
ii. A money cost for house sublet for eight months was obtained on 1 March and was
credited to Unearned Hire.
iii. Accrued curiosity expense on the mortgage of RM1,000 has been incurred however not paid.
Required:
If these changes aren’t recorded,
a. Present and clarify the influence on internet revenue with calculation with out the
changes and with the changes. (11 marks)
b. Clarify the accounting ideas which can be being violated if the changes aren’t
made. (four marks)
…four/-
four
Question Assignment 2
Johan began a brand new enterprise, and accomplished the next transactions throughout its first month of
operations.
i. Johan invests RM80,000 money within the enterprise by depositing the cash within the
checking account.
ii. The corporate bought a bit of land for RM52,000 by cheque.
iii. The corporate additionally bought a constructing for RM36,000 to make use of as an workplace, paying
RM6,000 by cheque and a mortgage from Maybank for the remaining RM30,000.
iv. Bought instruments and tools on account, RM13,800
v. Offered a number of the instruments at a value equal to their price, RM1,800, collectible inside45
days.
vi. Acquired RM600 in partial assortment of the account receivable from the sale of
instruments
vii. Paid RM6,800 in partial cost for the instruments and tools bought on
account earlier.
Required:
To report the transactions utilizing the Accounting Equation. (15 marks)
Question Assignment three
An organization made the next merchandise purchases and gross sales through the month of
Might with the idea that there was no starting stock:
Date Actions Models Acquired at
Value
Models Offered at Retail
1 Might Bought 300 items at RM15/unit
three Might Bought 270 items at RM20/unit
eight Might Offered 500 items at RM55/unit
12 Might Bought 300 items at RM24/unit
14 Might Offered 250 items at RM55/unit
23 Might Purchases 250 items at RM30/unit
25 Might Purchases 800 items at RM25/unit
31 Might Gross sales 900 items at RM55/unit
…5/-
5
Required:
a. Compute the worth of the stock as at 31 Might 2021 through the use of the first-in,
first out (FIFO) methodology. (13 marks)
b. State the worth of purchases, price of products bought and gross sales. (2 marks)
Question Assignment four
The next data is obtainable for the Avira Language Heart for the month of
September 2021.
i. On 30 September, in spite of everything transactions have been recorded, the steadiness within the
firm’s Checking account has a steadiness of RM27,202.
ii. The corporate’s financial institution assertion exhibits a steadiness on 30 September of RM29,279.
iii. Excellent cheques at 30 September embody cheque quantity 3030 within the
quantity of RM1,525 and cheque quantity 3556 within the quantity of RM1,459.
iv. A credit score memo included with the financial institution assertion signifies that the financial institution collected
RM780 on a noninterest-bearing notice receivable for Avira. The financial institution deducted a
RM10 assortment price, and credited the rest of RM770 to Avira’s account.
v. A debit memo included with the financial institution assertion exhibits a RM67 NSF examine from a
buyer, Mr Brown.
vi. A deposit positioned within the financial institution’s night time depository on 30 September totaled
RM1,675, and didn’t seem on the financial institution assertion.
vii. Examination of the cheques on the financial institution assertion with the entries within the
accounting data reveals that cheque quantity 3445 for the cost of an
account payable was appropriately written for RM2,450, however was recorded within the
accounting data as RM2,540.
viii.Included with the financial institution assertion was a debit memorandum within the quantity of
RM25 for financial institution service costs. It has not been recorded on the corporate’s
books.
Required:
a. Put together the September financial institution reconciliation for the Avira. (10 marks)
b. Put together the overall journal entries to carry the corporate’s guide steadiness of financial institution
into conformity with the reconciled steadiness as of September 30 2021. (5 marks)
…6/-
6
Question Assignment 5
The next is the trial steadiness for Tatt Buying and selling as at 31 October 2021:
DR CR
RM RM
Financial institution 6,453
Commerce receivables 18,910
Commerce payables 22,520
Stock at 31 October 2020 40,360
Buildings at price 70,000
Tools at price 45,000
Earnings b/d 27,000
Capital – 70,000
Purchases 102,360
Gross sales 165,486
Carriage inwards 2,zero70
Carriage outwards 1,890
Salaries 18,310
Charges and occupancy bills four,735
Restore and upkeep three,522
Sundry bills 1,896
Provision for uncertain money owed 500
Collected depreciation at 31 October 2020:
Buildings 22,000
Tools 16,000
Drawings eight,000
323,506 323,506
Extra data:
i. Stock at 31 October 2021 amounted to RM55,000.
ii. Repairs and upkeep owing RM222, sundry bills owing RM196.
iii. Wage accrued quantity to RM1,310.
iv. RM900 is supplied for uncertain money owed.
v. Depreciation on price: Buildings 2 per cent; Tools 10 per cent.
Required:
Put together the Assertion of Complete Earnings for the 12 months and the Assertion of
Monetary Place for Tatt Buying and selling as at 31 October 2021. (Complete: 40 marks)
END OF QUESTION PAPER
