School of Business (SBC)

Module’s Information:

Module ACC1001 Book keeping Skills

Session AUGUST 2019
Programme CBSi
Coursework Type Individual Assignment
Percentage 15%
Assigned Date Week 8
Due Date Week 13 – in class together with group assignment.

Student’s Declaration:

I declare that:
 I understand what is meant by plagiarism.
 This assignment is all my own work and I have acknowledged any use of the published or unpublished works
of other people.
 I hold a copy of this assignment which I can produce if the original is lost or damaged

Name/ID Signature

Learning Outcomes Assessed:

CLO1 Show the relationships of double entry in Bookkeeping.
CLO2 Prepare a simple set of accounts for sole trader.

Coursework Specifications Page 1

 School of Business (SBC)
Question 1

Tom, a sole trader, has incurred the following transactions for the month ended 31 December 2015

2015
Dec 1 Tom deposited RM74,000 in the bank and invested goods worth RM12,000 to start the
trading business.
2 Bought an office building for RM7,000 through bank transfer.
2 Bought goods on credit from the following persons: T Jimmy RM 2,100; M Mum RM
2,340; G Man RM 6,600.
3 Cash sales RM14,750
5 Paid wages and salaries by cheque RM5,900
7 Sold goods on credit to: P Pee RM24,200; T Hon RM5,800; S Tee RM23,200
9 Paid RM5,000 for his family travel by business debit card.
11 Bought goods on credit from: K Kong RM12,500; P Magi RM4,100.
12 Paid carriage charges RM1,120 in cash for purchase made on December 11.
15 Tom invested his personal motor vehicle into the business. Tom personally bought the
motor vehicle RM54,000 3-year ago. The current market value on Dec 15 was
RM26,500.
17 Received cheque by selling goods to: K Kenny RM7,300; H Hon RM8,900
19 S Tee returned goods RM2,720 to us and paid the balance by cheque
21 Paid general expense in cash RM120 and carriage outward RM900 by cheque.
22 Returned goods RM40 to G Man.
24 Paid motor expenses RM1,880 in cash.
28 Johnson lent us RM4,000 by cash
29 Owner withdrew RM3,400 by cheque for his salary.
30 Bought furniture; partly paying by cheque RM1,200 and partly RM1,200 on credit
from Ken Furniture.
31 The current market value of the office building, which was bought on 2 December
worth RM12,000.
31 After carefully analyzing the family traveling expenses incurred on December 9, there
was an evidence, confirmed that 40% of traveling times had been used for business
purposes.

Required:
Enter the above transactions for the month of December and balance off all the accounts.

Note: do not prepare a trial balance. (Total=10 marks)

Coursework Specifications Page 2

 School of Business (SBC)
Question 2

GIX Max Collection, a branded office equipment trading business, has extracted the
following balances from its ledger on year-end 28 February 2018.

RM RM
Office equipment 22,800
Purchase 390,000
Return Inward 2,500
Furniture and fittings 22,400
Motor expenses 7,700
Return Outward 6,200
Carriage inward 5,300
Rent received 12,000
Inventory, 1 March 2017 45,300
Wages and salaries 135,300
Rent 135,000
Drawings 24,000
Telephone bill 10,400
Motor vehicles 220,300
Carriage outward 3,400
Bank 27,400
Accounts receivable 60,200
Accounts payable 110,430
Commission received 21,100
Rates 3,100
Commission paid 900
Sales 665,500
Capital ?

Additional information:
1. Inventory at 28 February 2018 RM98,000

Required:
Prepare an income statement for the year ended 28 February 2018 and statement of financial
position as at that date
(Total=10 marks)

Coursework Specifications Page 3