ISVNU MT-Q ACC101 (Batch 6_ Year 1_ Semester 1)

ISVNU MT-Q ACC101 (Batch 6_ Year 1_ Semester 1) - BACHELOR...

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BACHELOR OF BUSINESS YEAR 1 SEMESTER 1 SEPTEMBER 2009 INTAKE MID-SEMESTER EXAMINATION Subject Code : ACC101 Subject Name : FINANCIAL ACCOUNTING 1 This examination carries 30% of the total assessment for this subject. Examiner(s): MR GOOI CHEE SAN Day : MONDAY Date : 26 OCTOBER 2009 Time : Time allowed : 2 HOURS INSTRUCTION(S): 1. This examination consists of FOUR (4) questions. Students are required to answer ALL questions. 2. Answers are to be written in the answer book provided. 3. This is a CLOSED BOOK examination. 4. Students are NOT permitted to retain this examination paper. (This examination paper consists of 4 questions in 6 printed pages, including cover page)
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ACC101 – Financial Accounting 1 (Semester 1 / September 2009Intake - Mid-Semester Examination) Page 2 Answer ALL questions. QUESTION 1 (30 MARKS) Ao Nang is a sole proprietorship business. Its financial year end is 30 June each year. An extract of the trial balance of Ao Nang as at 30 June 2009 is shown below. No. Ledger Accounts DR $'000 CR $'000 1 Accounts receivable 136 2 Advisory expense 6 3 Cash at bank 73 4 Discount allowed 30 5 Electricity and Telephone expense 35 6 Freight outwards expense 13 7 Interest expense 11 8 Inventory, at 1 July 2008 71 9 Land and building, at cost 400 10 Miscellaneous operating expense 8 11 Office equipment, at cost 60 12 Office supplies expense 28 13 Prepaid insurance 48 14 Purchases 400 15 Rental of motor vehicle expense 12 16 Salaries and wages expense
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This note was uploaded on 07/29/2011 for the course BUS 444 taught by Professor Lynn during the Spring '11 term at Keuka.

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ISVNU MT-Q ACC101 (Batch 6_ Year 1_ Semester 1) - BACHELOR...

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