ANSWER FOR ASSIGNMENT 1 & 2

1. NAME: KALAIVAANI D/O JAYARAMAN
ID NOM: ST1302BD2477
SUBJECT: BAAB 1013
PRINCIPLES OF ACCOUNTING
(ASSIGNMENT)
SEM 1
LECTURER: MR. GL TAN

2. QUESTION 1
a) It’s a trial balance. A trial balance is a report that shows the balances of
the ledger accounts. If the debits don't equal the credits, something is not
being accounted for. In addition, this system cannot ensure complete
accuracy.
b)
c) Overdraft- It’s indicates that Encik Nobita owed the money or amount of
RM 79000 from the bank.
d) It’s impossible. Because, in the business accounting cash account never
have a credit balance.
e) This discount referring to discount received. If this amount is
erroneously recorded to the debit balance means it will effect on the total
of the trial balance. Any calculation mistake, especially totalling mistake
or balancing mistake will be revealed by Trial Balance as both the side
will not match.
f) In this case the “return” is referring to return inwards. If this amount
wrongly credited means it will effect on the totals of the trial balance.
Any calculation mistake, especially totalling mistake or balancing
mistake will be revealed by Trial Balance as both the side will not match.
Debtor of
Encik Nobita
Creditor of
Encik Nobita
Sizuka Sin Chan

3. g) Based on this question “Commission” is revenue.
h) It’s referring to capital on 31 January 2012.
i) The last month of capital carried to this 31 January capital.
Calculate of the capital on 31 January 2012 with using this accounting
formula or equation :
Calculate (Based on question) :
i) Total Current asset on 31 January 2012.
* Motor vehicles + Office equipment + Inventory +
Cash + Sizuka = ASSET
ii) Total liability on 31 January 2012
* Bank + Sin Chan = LIABILITIES
j) The trial balance are refers to Trading Enterprise. Because, it involving
purchases and selling of stocks in their business. It’s also involving
inventory account. In addition, the business also involving in returns
such as return outwards and return inwards.
k) Classify the accounts in the trial balance into five main categories:
No Types of Account Examples of Account
(Based on the Questions)
1. Asset Motor vehicles, Office equipment,
Inventory, Cash, Sizuka
2. Liabilities Bank, Sin Chan
3. Owner’s equity Capital, Drawings
4. Revenues Discount, Commission, Sales,
Returns
5. Expenses Rent, Purchases
ASSET – LIABILITIES = CAPITAL

4. QUESTION 2
a) The following information is obtained from the accounting records of
Encik Ultraman. Recording of the transactions in the appropriate accounts
in the Ledger for the month of July ;
Dr Motor vehicles Cr
Dr Fittings and Fixtures Cr
2012 RM
July 1 Balance b/d 10000
23 Bank 3000
13000
August 1 Balance b/d 13000
2012 RM
July 31 Balance c/d 13000
13000
2012 RM
July 1 Balance b/d 25000
25000
August 1 Balance b/d 25000
2012 RM
July 31 Balance c/d 25000
25000

5. Dr Cash Cr
2012 RM
July 1 Balance b/d 1250
5 Sales 1245
2012 RM
July 5 Bank 1245
11 Electricity Bill 200
20 Sales 3500
27 Bank 1500
31 Sales 1600
20 Bank 3500
25 General Expenses 450
28 Wages 1800
31 Bank 1600
31 Balance c/d 300
9095 9095
August 1 Balance b/d 300

6. Dr Bank Cr
2012 RM
July 1 Balance b/d 12500
5 Cash 1245
2012 RM
July 1 Rent 1000
4 Big Supplier 2300
16 Delicious 2150
Food Stall
20 Cash 3500
31 Cash 1600
22 Purchases 1860
23 Fittings and Fixtures 3000
27 Cash 1500
29 Insurance 650
30 Drawings 300
20995
August 1 Balance b/d 10385
31 Balance c/d 10385
20995
Dr Delicious Food Stall Cr
2012 RM
July 1 Balance b/d 2300
14 Sales 850
2012 RM
July 16 Bank 2150
16 Discount Allowed 150
18 Return Inwards 100
31 Balance c/d 750
3150
August 1 Balance b/d 750
3150

7. Dr Big Supplier Cr
2012 RM
July 4 Bank 2300
4 Discount Received 50
10 Returned 120
Outwards
2012 RM
July 1 Balance b/d 6500
7 Purchases 2400
31 Balance c/d 6430
8900 8900
August 1 Balance b/d 6430
Dr Rent Cr
2012 RM 2012 RM
July 1 Bank 1000
1000
August 1 Balance b/d 1000
July 31 Balance c/d 1000
1000

8. Dr Purchases Cr
2012 RM
July 7 Big Supplier 2400
22 Bank 1860
2012 RM
July 12 Drawing 300
31 Balance c/d 3960
4260
August 1 Balance b/d 3960
4260
Dr Returned Outwards Cr
2012 RM
July 31 Balance c/d 120
120
2012 RM
July 10 Big Supplier 120
120
August 1 Balance b/d 120
Dr Electricity Bill Cr
2012 RM
July 11 Cash 200
200
2012 RM
July 31 Balance c/d 200
200
August 1 Balance b/d 200

9. Dr Drawings Cr
2012 RM
July 12 Purchases 300
30 Bank 300
2012 RM
July 31 Balance c/d 600
600
August 1 Balance b/d 600
600
Dr Discount Received Cr
2012 RM
July 31 Balance c/d 50
50
2012 RM
July 4 Big Supplier 50
50
August 1 Balance b/d 50

10. Dr Sales Cr
2012 RM
July 31 Balance c/d 7195
2012 RM
July 5 Cash 1245
14 Delicious Food Stall 850
7195
20 Cash 3500
31 Cash 1600
7195
August 1 Balance b/d 7195
Dr Discount Allowed Cr
2012 RM
July 16 Delisious 150
Food Stall
150
2012 RM
July 31 Balance c/d 150
150
August 1 Balance b/d 150

11. Dr Returned Inwards Cr
2012 RM
July 18 Delisious 100
Food Stall
100
2012 RM
July 31 Balance c/d 100
100
August 1 Balance b/d 100
Dr General Expenses Cr
2012 RM
July 25 Cash 450
2012 RM
July 31 Balance c/d 450
450
August 1 Balance b/d 450
450

12. Dr Wages Cr
2012 RM
July 28 Cash 1800
2012 RM
July 31 Balance c/d 1800
1800
August 1 Balance b/d 1800
1800
Dr Insurance Cr
2012 RM
July 29 Bank 650
2012 RM
July 31 Balance c/d 650
650
August 1 Balance b/d 650
650

13. b) Trial Balance :
Encik Ultraman
Trial Balance as at 31 July 2012
Particulars Debit
RM
Credit
RM
Motor vehicles 25000
Fittings and fixtures 13000
Cash 300
Bank 10385
Delicious Food Stall 750
Insurance 650
Rent 1000
Purchases 3960
Wages 1800
Electricity bill 200
Drawing 600
General expenses 450
Return inwards 100
Discount allowed 150
Sales 7195
Discount received 50
Return outwards 120
Big Supplier 6430