4BA21_041140597_-TMA-2.docx - BBM 206/05 BUSINESS ACCOUNTING II BBM 206/05 BUSINESS ACCOUNTING II Date of submission Name IC no Student ID H/P no

4BA21_041140597_-TMA-2.docx - BBM 206/05 BUSINESS...

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BBM 206/05 BUSINESS ACCOUNTING II BBM 206/05 BUSINESS ACCOUNTING II Date of submission [ ] On date [ ] Late Name KHOR HAO YUN IC no. 941222-07-5556 Student ID 041140597 H/P no. 014-3305125 Tutorial 4BA21 Tutor MR. KOAY ENG SENG Contents Question 1 .................................................................................................. 3 Question 2 .................................................................................................. 4 Question 3 .................................................................................................. 4 1
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BBM 206/05 BUSINESS ACCOUNTING II Question 4 .................................................................................................. 4 Question 5 .................................................................................................. 5 Question 6 .................................................................................................. 7 References ................................................................................................. 9 2
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BBM 206/05 BUSINESS ACCOUNTING II Question 1 Statement of comprehensive income for Rajoo for the year ended 31 December 2014. RM RM Sales 11,590 (-) Return inward (160) 11,430 (-): Cost of goods sold Purchases 8,940 Carriage inward 500 Return outward (180) 9,260 Closing inventory (2,500) (6,760) Gross profit 4,670 Interest received 850 Discount received 350 Rent income 450 6,320 (-) Expenses Carriage outward 200 Motor expenses 720 Discount allowed 150 (1,070) Net profit 5,250 Statement of financial position for Rajoo as at 31 December 2014. RM RM ASSETS Non-current assets Motor Vehicle 8,000 Current assets Inventory 2,500 Trade receivable 3,870 Bank 4,980 Cash 1,510 12,860 Current liabilities Trade payables (2,910) 9,950 17,950 Equity and Liabilities Equity Capital 5,500 Net profit 5,250 Drawings (800) 9,950 3
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BBM 206/05 BUSINESS ACCOUNTING II Non-current asset loan 8,000 17,950 Question 2 A Company is a separate legal identity. Under the incorporation law, a company is distinct and different from its shareholders. Company has its own name and its own seal, the assets and liabilities of a company is totally separate from the shareholders’ name.
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  • Winter '16
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  • Balance Sheet, Generally Accepted Accounting Principles, Christine, Brenda

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