A 1:0\gh 3%Tutorial 2.pdfSold goods on credit to HanaHani Enterprise worth RM9,400Settled all amount due to Freshy mart by cheque paymentSold goods on credit to Hafifah Mart worth RM12,300Received cheque from Hanahani Enterprise in settlement of all amountdue21252830Paid by cheque worth RM9,000to Bobby Motors and paid salaries bycash worth RM17,000313. Calculate the missing figure based on the accounting equation as per below:Asset + Expenses = Liabilities + Revenues + CapitalСapitalRMExpensesRMLiabilitiesRevenuesRMRMRM255,000?50,000155,000?570,000605,000685,000755,000500,000650,000855,000?a.355,000345,000365,400520,000b.200,000285,000510,000C.d.225,000125,000e.730,0004. You are required to fill in the appropriate code letter to indicate whether the itemsare an ASSET, LIABILITY OR OWNER'S EQUITY items. The item listed is asbelow:i.Furnitureii.CreditorСapitalCashii.iv.Debtor / Account receivableV.vi.DrawingClosing stockMotor VehicleLoan from bankvii.viii.ix.5. State whether the following items are NON-CURRENT ASSET, CURENT ASSETS,OWNER's EQUITY, NON-CURRENT LIABILITIES, INCOME or EXPENSES.PremisesCash in handi.ii.Long term loansMotor vani.iv.V.Insurancevi.Account receivablesvii.Dividend receivedAccount payablesStockFixtures and FittingsCapitalPatent and trademarkBank overdraftvii.ix.х.хі.xii.xiii.хiv.GoodwillII

Double entry system of accounting means that every debit has got equal and corresponding credit…

3. Calculate the missing figure based on the accounting equation as per below: Asset + Expenses = Liabilities + Revenues + Capital %3D Сapital RM Expenses RM Liabilities Revenues Assets RM RM RM 255,000 ? ? 50,000 155,000 ? 570,000 605,000 685,000 500,000 650,000 855,000 а. 355,000 345,000 b. С. 200,000

3. Calculate the missing figure based on the accounting equation as per below: Asset + Expenses = Liabilities + Revenues + Capital %3D Сapital RM Expenses RM Liabilities Revenues Assets RM RM RM 255,000 ? ? 50,000 155,000 ? 570,000 605,000 685,000 500,000 650,000 855,000 а. 355,000 345,000 b. С. 200,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

A 1:0\
gh 3%
Tutorial 2.pdf
Sold goods on credit to HanaHani Enterprise worth RM9,400
Settled all amount due to Freshy mart by cheque payment
Sold goods on credit to Hafifah Mart worth RM12,300
Received cheque from Hanahani Enterprise in settlement of all amount
due
21
25
28
30
Paid by cheque worth RM9,000to Bobby Motors and paid salaries by
cash worth RM17,000
31
3. Calculate the missing figure based on the accounting equation as per below:
Asset + Expenses = Liabilities + Revenues + Capital
Сapital
RM
Expenses
RM
Liabilities
Revenues
RM
RM
RM
255,000
?
50,000
155,000
?
570,000
605,000
685,000
755,000
500,000
650,000
855,000
?
a.
355,000
345,000
365,400
520,000
b.
200,000
285,000
510,000
C.
d.
225,000
125,000
e.
730,000
4. You are required to fill in the appropriate code letter to indicate whether the items
are an ASSET, LIABILITY OR OWNER'S EQUITY items. The item listed is as
below:
i.
Furniture
ii.
Creditor
Сapital
Cash
ii.
iv.
Debtor / Account receivable
V.
vi.
Drawing
Closing stock
Motor Vehicle
Loan from bank
vii.
viii.
ix.
5. State whether the following items are NON-CURRENT ASSET, CURENT ASSETS,
OWNER's EQUITY, NON-CURRENT LIABILITIES, INCOME or EXPENSES.
Premises
Cash in hand
i.
ii.
Long term loans
Motor van
i.
iv.
V.
Insurance
vi.
Account receivables
vii.
Dividend received
Account payables
Stock
Fixtures and Fittings
Capital
Patent and trademark
Bank overdraft
vii.
ix.
х.
хі.
xii.
xiii.
хiv.
Goodwill
II

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