BBM205/03 Basic Accounting
Course Project (25%)
Semester 1, January 2022
INSTRUCTIONS:
Directions
1. That is a person task and it covers data acquired from Unit 1 to
Unit 5.
2. There are 5 (5) apply questions on this task. Please reply ALL
questions. Whole marks awarded for CA is 100, which is able to contribute to 25% of the
complete course Assessment.
three. Proof of plagiarism or collusion will likely be taken severely and the College
rules will likely be utilized strictly, henceforth please be conversant in 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
end in 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. Be sure you test
your WOU e-mail after you could have submitted your CA as you may be notified in your
WOU e-mail if there’s a failure of submission or file corruption.
5. Your task will likely be assessed on the factual reply offered based mostly in your
studying and Assessment from numerous references associated to this course. As well as,
you need to reveal a sound data of the matters lined and cling to
the correct referencing approach.
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6. Please comply with the format present by the College to your cowl web page.
7. Please title and save your CA in response to the next guideline:
Copyright © 2022 WOU
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Reply ALL questions beneath.
Question Assignment 1
The unadjusted trial steadiness and the adjustment knowledge for Robin Coaching Institute are
given beneath 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
Gear eight,000
Amassed depreciation for gear 2,000
Buildings 57,500
Amassed depreciation for buildings 17,500
Land 55,000
Unearned lease 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
Whole 298,500 298,500
Further data:
i. The Pay as you go Insurance coverage account consists of a cost for one yr 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 Lease.
iii. Accrued curiosity expense on the mortgage of RM1,000 has been incurred however not paid.
Required:
If these changes will not be recorded,
a. Present and clarify the influence on internet earnings with calculation with out the
changes and with the changes. (11 marks)
b. Clarify the accounting ideas which are being violated if the changes will not be
made. (four marks)
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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 gear on account, RM13,800
v. Bought a few of the instruments at a worth equal to their value, RM1,800, collectible inside45
days.
vi. Obtained RM600 in partial assortment of the account receivable from the sale of
instruments
vii. Paid RM6,800 in partial cost for the instruments and gear 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
Could with the belief that there was no starting stock:
Date Actions Items Acquired at
Value
Items Bought at Retail
1 Could Bought 300 models at RM15/unit
three Could Bought 270 models at RM20/unit
eight Could Bought 500 models at RM55/unit
12 Could Bought 300 models at RM24/unit
14 Could Bought 250 models at RM55/unit
23 Could Purchases 250 models at RM30/unit
25 Could Purchases 800 models at RM25/unit
31 Could Gross sales 900 models at RM55/unit
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Required:
a. Compute the worth of the stock as at 31 Could 2021 through the use of the first-in,
first out (FIFO) technique. (13 marks)
b. State the worth of purchases, value of products offered and gross sales. (2 marks)
Question Assignment four
The next data is accessible for the Avira Language Middle 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 observe 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 test from a
buyer, Mr Brown.
vi. A deposit positioned within the financial institution’s evening 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 information reveals that cheque quantity 3445 for the cost of an
account payable was accurately written for RM2,450, however was recorded within the
accounting information as RM2,540.
viii.Included with the financial institution assertion was a debit memorandum within the quantity of
RM25 for financial institution service expenses. 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 final journal entries to convey the corporate’s ebook steadiness of financial institution
into conformity with the reconciled steadiness as of September 30 2021. (5 marks)
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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 value 70,000
Gear at value 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
Amassed depreciation at 31 October 2020:
Buildings 22,000
Gear 16,000
Drawings eight,000
323,506 323,506
Further 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 offered for uncertain money owed.
v. Depreciation on value: Buildings 2 per cent; Gear 10 per cent.
Required:
Put together the Assertion of Complete Revenue for the yr and the Assertion of
Monetary Place for Tatt Buying and selling as at 31 October 2021. (Whole: 40 marks)
END OF QUESTION PAPER
