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UBS Lab Practice 14 - 5 - 19

The document provides instructions for students to complete an accounting lab evaluation involving entering opening balances and transactions for a fictional company called "[Your Name] SDN BHD" for May and June 2018. It includes: 1) Closing account balances for May 2018 totaling RM306,961.63. 2) Creditor and debtor balances as of end of May. 3) Transactions for June including sales, expenses, payments. 4) Questions to be answered based on year-to-date figures including total credits, net profit/loss, account balances, and how to delete transactions.

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85 views3 pages

UBS Lab Practice 14 - 5 - 19

The document provides instructions for students to complete an accounting lab evaluation involving entering opening balances and transactions for a fictional company called "[Your Name] SDN BHD" for May and June 2018. It includes: 1) Closing account balances for May 2018 totaling RM306,961.63. 2) Creditor and debtor balances as of end of May. 3) Transactions for June including sales, expenses, payments. 4) Questions to be answered based on year-to-date figures including total credits, net profit/loss, account balances, and how to delete transactions.

Uploaded by

Mon Luffy
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Set

C
Faculty of Accountancy
MARA University of Technology
AIS510: Accounting Information System
Lab Evaluation – 10%.
TIME ALLOWED: 1 ½ HOUR ONLY

Name: PC No:

Student ID No.: Group:

Instructions to candidates:
a. The name of the company should be based on your name, whilst the company
number is your student ID Number
b. You should create necessary additional details such as address of the company,
customers and suppliers as well as some of the reference number (where
appropriate).

“YOUR NAME” SDN BHD accounts are made up to 31 Dec annually and wanted to
st
computerize company’s accounting information system starting from 1 Jun 2018.
You are required to help the management to enter the opening balances and all July
2018 transactions.

Relevant data are as follows:

1. Closing balances for the month of May 2018, extracted from the ledgers:-

Account RM
Cash on hand 65,387.25
Bank MBB 90,161.63
* Stock – Finished Goods 49,312.50
Office Equipment 14,250.00
Office Equipment – Accum. Depn. 3,000.00
Motor Vehicle 27,000.00
Motor Vehicle – Accum. Depn. 2,250.00
Share capital 120,000.00
Opening Profit & Loss 106,982.63
Sales 20,467.50
Purchase 7,747.50
Depreciation Expenses 562.50
Salary 2,625.00
Office Suppliesed 337.50
Postage & Printing 112.50
Office Telephone 146.25
Electricity 187.50
Petrol 225.00
Sales Return 1,920.00
st
* The stock was valued as at 31 Dec 2017

1
2. Balance of Creditor

Trade Creditors Amount (RM) Invoice Date Invoice Number


Vicky Sdn Bhd 6,075.00 17 Jan 2018 Inv 918751
3,600.00 12 Feb 2018 Inv 987456
4,875.00 2 Mac 2018 Inv 987556

3. Balances of Debtors:

Trade Debtors Amount (RM) Invoice Date Invoice Number


Farid Ent. 765.00 15 Feb 2018 Inv 2112
Mutu Ent 3,285.00 5 Mac 2018 Inv 3116
3,225.00 8 Feb 2018 Inv 1211

4. Transactions for June 2018

Sales Invoices
Dat Debtors Amount (RM) Ref. No.
e
03 Mutu Ent. 3,375.00 Inv 4115
07 Farid Ent. 3,255.00 Inv 4116
15 Mutu Ent. 1,912.50 Inv 4117
20 Cash 1,800.00 Inv 4118
25 Mutu Ent. 960.00 Inv 4119
Invoices Received
Date Creditors Amount (RM) Ref. No.
08 Bob Ent. 2,430.00 Inv 7878
18 Vicky Sdn Bhd 1,443.75 Inv 9878
25 Farah Sdn Bhd
(upkeep of motor vehicle) 1,500.00 Inv 1050
26 Bob Ent. 1,125.00 Inv 7880

Cash Payment
Date Particulars Amount (RM) Ref. No.
15 Water 75.00 PV 401
30 Petrol 322.50 PV 402
30 Postage 90.00 PV 403
30 Purchase 750.00 PV 404

Cheque Received
Date Particulars Amount (RM) Ref. No.
27 Mutu Ent. 10,275.00 CBB 457898
28 Farid Ent. 3,525.00 SBB 124784

Bank Payment
Date Particulars Amount (RM) Ref. No.
15 Salary 3,500.00 MBB 754678
15 Electricity 225.00 MBB 754679
15 Office Telephone 195.00 MBB 754680
27 Bob Ent. 2,075.00 MBB 754681
29 Vicky Sdn Bhd 3,250.00 MBB 754682
Other
Date Particulars Amount (RM) Ref. No.
25 Mutu Ent. – sales return 870 CN 01/04
30 Monthly Depreciation – Motor Vehicle 375 JV 002
30 Monthly Depreciation – Office Equipment 750 JV 003
th
Closing stock as at 30 June 2018 is RM21,725.00

PLEASE ANSWER ALL QUESTIONS – (Based on Year-to-Date Figures)


1. When you enter the opening balances, what is the total amount for the credit
column? (1 m)

th
2. What is the net profit/loss as at 30 June 2018? (1 m)

th
3. What are the balances of these following accounts (where applicable) as at 30
June 2018 ?
Description RM Description RM

Debtors Water

Bank MBB Electricity

Cash on Hand Petrol

Sales Share Capital

Purchases Office Supplies

Telephone Postage & Printing

Salary Upkeep of Motor Vehicle

th
4. Farid accounts balance as at 30 JUN 2018? (1 m)
th
5. Bob accounts balance as at 30 JUN 2018? (1 m)

6. How do you delete unwanted transactions? (2m)

End of question paper

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