Part1 2019

a) Explain the meaning of "equity" in the context of a company. (5 marks) b) Discuss five (5) differences of a sole proprietorship and a partnership. (15 marks) (20 marks, 2019 Q2) A. Ref:

On 1 April 2016, Syarikat Juice Buzz bought a RM24,000 machine. On 1 January 2017, the company bought another RM28,000 machine. The machine depreciation rate for machine is 20% on cost (the depreciation is calculated based on the monthly usage of the machine). In December 2018, the machine purchased in 2016 was old for RM17,000. The Syarikat Juice Buzz's financial year ends on 31 December. Prepare the following accounts for 3 years until 31 December 2018: (a) Machinery account. (b) Accumulated depreciation account for machinery. (20 marks, 2019 Q3) A. Ref:

(20 marks, 2019 Q4) A. Ref:

(20 marks, 2019 Q5) A. Ref:

(20 marks, 2019 Q6) A. Ref:

Cash Account of Puan Rosma, who is the owner of Perniagaan Blackpurple shows a debit balance of RM13,800 on 30 October 2018. Bank statements on the same date show different balances. The differences are as follows: i. Two cheques issued to accounts payable amounting to RM4,200 have not been presented for payment. ii. A deposit of RM4,920 has not been credited by the bank. iii. Interest on fixed deposits of RM1,760 is credited directly to the current account. iv. Returned cheque by the bank amounting to RM2,200. v. The Bank has credited Mrs Rosma's account with a dividend of RM760. vi. The Bank has charged RM50 for the cheque book. Prepare a Bank Reconciliation Statement on 31 October 2018. (20 marks, 2019 Q7) A. Ref: