Download - Book Keeping Senior One
![Page 1: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/1.jpg)
Chapter one Intruduction of Bookkeeping
A. Objective of Bookkeeping
1. To keep the records of a business operation .
2. To ascertain the profit or loss of a business for a particular period.
3. To show thw financial position of a business at a particular date to find out what is owns and owes.
4. To provide useful accounting information for decision making of a business.
B. Difference of Bookkeeper and an Accountant
1
![Page 2: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/2.jpg)
Bookkeeper Accountanta. Keeps the source documents that flow into the business.
b. Makes entries in the books for the transactions of the business.
c. Organise the record data .
d. Prepares reports at the end of a period.
a. Rewiews the detailed bookkeeping transactions and summaries to detect errors or omissions .
b. Presents the interprets the summarized financial information to the management.
c. Explains the difference between the actual performance and the forecast result of the business.
d. Forecast the future growth of the business.
e. Sets up te internal control system to assist daily operation of the business and to prevent fraud .
Chapter 2 Rules od Debit and Credit and General Ledger
A. General ledger Dr. Title of account Cr.
2
![Page 3: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/3.jpg)
Date Particulars Folio Amount
Date Particulars Folio Amount
B. Accounting Elements
a. Assets Motor vehiclesfixture and fitting office equipmentInventory ,Accounts ReceivableBank , Cash ,
b. Liabilities Accounts PayableBank overdraft, Bank laon
c. Equity / Owner’s equity Capital(capital + net profit –Drawings )
d. Income Sales
interest receivedCommission received
e. Expenses Purchases
wages and salaries , rentinsurance
C. Important Notes
DR.. CR.
Assets 资产Expenses 费用
Liabilities 负债Income 收入
3
![Page 4: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/4.jpg)
D. The Relationship between the Dr and Cr.
1. Assets --- increased Liabilities ----- increased
2. Assets ---- decreased Liabilities ----- decreased
3. Both Assets -------- one increased , one decreased
4. Both Liabilities ----- one increased , one decreased
E. Example
Transaction Accountsto be debited
ReasonsAccountsto be credited
Reasons
a)
Goods were sold for cash.
Cash Assets Sales Income
b)
Goods sold to Amin on credit .
Amin Assets Sales Income
4
![Page 5: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/5.jpg)
c) Goods were purchased for cash
Purchases
Expenses Cash Assets
d)
Additional capital was introduced into the business in cash .
Cash Assets Capital Equity
e)
Received cheque from Amin for full settlement.
Bank Assets Amin Assets
f) Cash was drawn from bank .
Cash Assets Bank Assets
g)
Goods purchased from Ng on credit
Purchases
Expenses Ng Liabilities
F. Double Entries
1. Amin started his business on 1 Jan 2015 , his transaction were shown as follows:2015Jan 1 Started business with capital RM 5000 in cash. 9 Purchases 4 tables for cash RM300 each. 11 Sold 2 table foe cash RM400 15 Sold 2 more tables for cash RM 500 each. 16 Bought another table for cash RM500.
5
![Page 6: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/6.jpg)
19 Sold the 2 remaining tables for cash RM600 each. 25 Paid the general expenses for cash RM 400.
You are required to shown the above transaction by using doubli entry in Amin ‘s General Ledger and balance off all the accounts .
In the book of Amin :
Capital
2015 RM 2015 RMJan 31 Balance c/d 5000 Jan 1 Cash 5000 Feb 1 balance b/d 5000
Cash
2015 RM 2015 RM
6
![Page 7: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/7.jpg)
Jan 1 Capital 5000 Jan 1 Cash 5000 11 Sales 800 9 Purchases 1200 15 Sales 1000 16 Purchases 500 19 Sales 1200 25 General Exp 400 31 Balance c/d 900 8000 80002015Feb 1 Balance b/d 900
Purchases
2015 RM 2015 RMJan 9 Cash 1200 Jan 31 Balance c/d 1700 16 Cash 500 1700 1700
Sales
7
![Page 8: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/8.jpg)
2015 RM 2015 RMJan 31 Balance c/d 3000 Jan 13 Cash 800 15 Cash 1000 19 Cash 1200 3000 3000
General Expenses
2015 RM 2015 RMJan 31 Cash 400 Jan 1 Balance c/d 400 Feb 1 balance b/d 400
G. Trial Balance
8
![Page 9: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/9.jpg)
9
![Page 10: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/10.jpg)
10
![Page 11: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/11.jpg)
11
![Page 12: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/12.jpg)
12
![Page 13: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/13.jpg)
13
![Page 14: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/14.jpg)
Chapter 3 Income statement
Company 's NameIncome statement
For the year ended 31 December 2015RM RM RM RM
Opening Inventory xx Sales xxPurchases xx Less : Returns Inwards (xx)Less: Returns outwards (xx) Discount Allowed (xx) Discount Received (xx) Net Sales xxxNet Purchases xxAdd : Carriage Inwards xx Wages on Packing xx Duty Import xxCost of Purchases xxCost of goods available for sale xxLess : Closing Inventory (xx)Cost Of Sales xx xGross Profit / Gross Loss xx
xxx xxx
Carriage Outwards xx Gross Profit xxWages and Salaries xx Commission xxBad Debts xx Rental Income xx Insurance xxRent xxInterest on loan xxGeneral Expenses xxMotor Vehicle Expenses xxNet Profit / Net Loss xx
xxx xxx
14
![Page 15: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/15.jpg)
15
![Page 16: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/16.jpg)
Chapter 4 Statement Of Financial Position
Company ' s NameStatement Of Financial PositionAs at 31 December 2015RM RM RM RM
Non-Current Assets Owner's EquityOffice Equipment xx Opening Capital xxFurniture And Fitting xx
Add : Net Profit \Less: Net Loss xx
Lands And Building xx xx xx
Less: Drawings (xx)Current Assets Closing Capital xxInventory xxAccount Receivable xx Non-Current LiabilitiesCash At Bank xx Mortgage Loan xxCash At Hand xx xx Bank Loan xx xx
Current LiabilitiesAccount Payable xxBank Overdraft xx xx
xxx xxx
16
![Page 17: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/17.jpg)
17
![Page 18: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/18.jpg)
Chapter 5 Documents Used In Bussiness Transaction
A. Source of documents
1. Letter of Inquiry2. Quotation3. Purchases Order4. Advice Note5. Delivery Note6. Invoice ( purchase Invoice )7. Debit Note8. Credit Note9. Official Receipt10. Statement Of Account 11. Bank-in Slip12. Cash bill13. Invoice (Sales Invoice)14. Payment Voucher
B. Record of the documents
18
6 to 14 need to record in book…
![Page 19: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/19.jpg)
i) Original ------- Invoice --- Purchases Debit Note --- Purchases ( under charges ) Credit Note -- Purchases Returns Official Receipt ---- Pay $$ ii) Duplicate ------ Invoice --- Sales Debit Note --- Sales ( under charges ) Credit Note -- Sales Returns Official Receipt ---- Receive $$
iii) Bank-in Slip ----- Put $$ in bank
iv ) Payment Voucher --- pay $$
Chapter 6 Journals
A. Types of Journals
19
![Page 20: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/20.jpg)
1. Purchases Journal2. Sales Journal3. Purchases Returns Journal ( Returns Outwards )4. Sales Return Journal ( Returns Inwards )5. Cash Book 6. General Journal
B. General Journal
Date Particulars Folio
Debit Credit
2015Jan 1 Cash
Capital( Being cash invested
GL2GL1
RM5000
RM
5000
20
![Page 21: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/21.jpg)
to start the business )
2 Motor Vehicle Cash( Being purchase of a Motor Van by cash )
GL3GL2
40004000
General Ledger
Capital
2015 F RMJan 1 Cash GJ1 5000
Cash
2015 RM 2015 F RM
Jan 1 Capital 5000 Jan 2 Motor Vehicle GJ1 4000
C. Purchases Journal
Purchases Journal Date Inv. No Particulars Folio Details Amount2015Jan 3
Jan 4
187
186
ShantiLess : 10% Trade Discount
Benny
PL 1
RM500
( 50 )
200
450
21
![Page 22: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/22.jpg)
Jan 6
31
200
Less : 10% Trade Discount
ShantiLess : !0 % Trade Discount
Transferred to Purchases Account
PL2
PL1
GL1
(20)
800( 80)
180
720
1350
Purchases LedgerShanti
2015 Folio RM
Jan-03 Purchases PJ1 450
6 Purchases PJ1 720
Benny
2015 RMJan-01 Jan-04 Purchases PJ1 180
22
![Page 23: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/23.jpg)
General Ledger Purchases
2015 RMJan-31
Total for the Month 1350
所有欠他$$ 的,要进 他们名字的 ---- credit side 一年的买货总结要进 Purchases Account -- debit side
D. Sales Journal
Date Inv. No
Particulars Folio Details Amount
2015Feb 2
4
6
265
285
395
KassimLess : 10% Trade Discount
Kassim
MichealLess : !5 % Trade Discount
SL 1
SL1
SL2
RM600
( 60 )
200
400(60 )
540
200
340
23
![Page 24: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/24.jpg)
31 Transferred to Sales Account GL2 1060
Sales Ledger
Kassim
2015 Folio RM Feb 2 Sales SJ1 540
4 Sales SJ 1 200
Michael
2015 Folio RM Feb 6 Sales SJ1 340
General Ledger
24
![Page 25: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/25.jpg)
Sales
2015 RM
Feb-28 Total for the mth 1060
所有欠我$$ 的,要进 他们名字的 ---- debit side 一年的卖货总结要进 Sales Account -- Credit side
E. Purchases Returns Journal
Purchase Returns JournalDate Inv. No Particulars Folio Details Amount2015Jan 23
30
31
86
23
ShantiLess : 10% Trade Discount
BennyLess : 10% Trade Discount
Transferred toPurchase returns Account
PL 1
PL2
GL3
RM50
( 5 )
20(2)
45
18
63
25
![Page 26: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/26.jpg)
Purchases Ledger
Shanti
2015 Folio RM 2015 Folio RM
Jan 23
Purchases PRJ 1 45 Jan-
03 Purchases PJ1 450
Returns 6 Purchases PJ1 720
Benny
2015 RM Jan 30
Purchases PRJ 1 18 Jan-
04 Purchases PJ1 180
Returns
General Ledger
Purchases Returns
2015 Folio RMJan- Total for the mth PRJ1 63
26
![Page 27: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/27.jpg)
31
有买货或才会有退货 , 同一个人的户口 ---- debit side一年的买或退货总结要进 Purchases Returns Account -- Credit sideF. Sales Returns Journal
Sales Returns JouanalDate Inv. No Particulars Folio Details Amount2015Feb 23
26
31
45
85
Kassim
MichaelLess : 10% Trade Discount
Transferred toSales returns Account
SL 1
SL2
GL4
RM
50(5 )
60
45
105
27
![Page 28: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/28.jpg)
Sales LedgerKassim
2015 Folio RM 2015 Folio RM Feb 2 Sales SJ1 540 Feb-
23 Sales Returns SRJ1 60
4 Sales SJ 1 200
Michael
2015 Folio RM 2015 Folio RM Feb 6 Sales SJ1 340 Feb-
26 Sales Returns SRJ1 45
General Ledger
Sales Returns
2015 Folio RM
Feb28 Total for the mth SRJ 1 105
28
![Page 29: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/29.jpg)
有买货或才会有退货 , 同一个人的户口 ---- credit side一年的卖货退货总结要进 Sales Returns Account --Debit sideG. Document and the Journal
1. Purchase Invoice ---- Purchases Journal
2. Sales Invoice --- Sales Journal
3. Credit Note Received ---- Purchases Returns Journal
4. Cerdit Note to the customer -- Sales Returns Journal
5. Cash Bill / Official Receipts / payment voucher ----- Cash Book 6. Petty Cash Voucher ---- Petty Cash Book
7. Journal Voucher --- General Journal
29
欠$买货
欠$卖货
收到退货单
发出退货单
![Page 30: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/30.jpg)
Chapter 7 Cash Book
A. Cash Book
从银行拿钱出来 Dr. Cash Cr Bank 属于 contra ( c) Cash ‘ Particulars -- Bank Bank ‘s Particulars -- Cash
把钱存进银行 Dr. Bank Cr Cash 属于 contra ( c) Bank ‘ Particulars – Cash Cash ‘s Particulars -- Bank
B. Transfer To the Ledger
30
![Page 31: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/31.jpg)
所有 Dr. Cash / Bank ------- Cr. General Ledger 所有 Cr. Cash / Bank -------- Dr. Generl Ledger
Dr. Cr.
费用 收入
Chapter 8 Petty Cash Book
31
![Page 32: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/32.jpg)
A. Transfer to the General Ledger ( Reimbursement at the beginning of the month )
B. Reimbursement at the end of the month
32
![Page 33: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/33.jpg)
33
![Page 34: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/34.jpg)
Chapter9 Bad Debts & Allowance for the Doubtful Debts A. Bad Debts On January 2015 , goods of RM200 were sold to Wee. He paid RM150 by cheque on 5 March 2015. He was unable to settle the remaining balance at the end of the accounting year ended 31 December 2015.You are required :a) Weeb) Bad Debtsc) Income Statement
Wee 2015 RM 2015 RM
Jan-01 Sales 200 Mar 5 Bank 150
Dec 31Bad Debts 50
200 200
Bad Debts
2015 RM 2015 RM
Dec 31 Wee 50 Dec 31Profit and Loss 50
50 50
Income StatementFor The Year ended 31 December
RMBad Debts 50
B. Bad Debts Recover
34
![Page 35: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/35.jpg)
发生在同一年On 1 May 2015 , Ali paid RM200 for a debt which had already written off as bad on 8 March 2015.You are required to prepare all the relevant accounts for the year ended 31 December 2015
Ali
2015 RM
2015 RM
Jan-01 Balance 200 Mar 8Bad Debts 200
May 1 Bad Debts 200 May 1 Cash 200
Cash201
5 RMMay 1 Ali 200
Bad Debts
2015 RM
2015 RM
Mar 8 Ali 200 May 1 Ali 200
发生在不同年35
![Page 36: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/36.jpg)
A debts RM 500 of Tan Company had been written off as bad in year 2014 , and it was subsequently recoverd at the end of year 2015.You are required to prepare all the relevant accounts for the year ended 31 December 2014 and year 2015
Tan Company2014 RM 2014 RMJan-01 Balance b/d 500 Dec 31 Bad Debts 500
2015 2015Dec 31 Bad Debts Recover 500 Dec 31 Cash 500
Cash2015 RM
Dec 31Tan Company 500
Bad Debts2015 RM 2015 RM
Dec 31 Tan Company 500 Dec 31
Profit and Loss 500
Bad Debts Recover
2015 RM 2015 RM
Dec 31 Profit and Loss 500 Dec 31 Tan Company 500
Income StatementFor the year ended of 31 December 2015
RM RMBad Debts 500 Bad Debts Recover 500
C. Allowance For Doubtful Debts
36
![Page 37: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/37.jpg)
( Account Receivable - Bad Debts ) x %
算好的 Allowannce for Doubtful Debts 要减去年带下的。 i)如果是正值---就是 Increased , 就是 Expences ii)如果是负值---就是 decreased , 就是 Income
每一年计算出的,要放进 Statement Of Financial Position被 Account Receivable 扣除
第一年准备的 Allowance For Doubtful Debts
Account Receivable RM 50,000
37
![Page 38: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/38.jpg)
The management of the company decided to charge 5% of the total accounts receivable . The accounting year is on 31 December
Allowance for Doubtful Debts2014 RM 2014 RM
Jan-01 Balance c/d250
0 Dec 31 Profit and Loss250
02015
Jan-01 Balance b/d250
0
Income StatementFor the year ended of 31 December 2015RM
Allowance for Doubtful Debts250
0
Statement Of Financial Position As at 31 December 2014
Current Assets RMAccount Receivable 50000Allowancw for Doubtful debts (2500)
47500 Working : RM 50,000 x 5% = RM2500
Increased of Allowance For Doubtful Debts
Account Receivable RM 50,000
38
![Page 39: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/39.jpg)
Allowance for Doubtful debts RM 700The management of the company decided to charge 3% of the total accounts receivable . The accounting year is on 31 December
Allowance for Doubtful Debts2014 RM 2014 RM
Jan-01 Balance c /d 1500 Jan 1 Balance b/d 700Dec 31 Profit and Loss 800
1500 15002015
Jan-01 Balance b/d 1500
Income StatementFor the year ended of 31 December 2015RM
Allowance for Doubtful Debts 1500
Statement Of Financial Position As at 31 December 2014
Current Assets RMAccount Receivable 50000Allowancw for Doubtful debts (1500 )
48500
Working : RM 50,000 x 3% RM1500- RM700 = RM 1500 = RM 800 ( Increased)
Decreased of Allowance For Doubtful Debts
Account Receivable RM 20,000
39
![Page 40: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/40.jpg)
Allowance of Doubtful debts RM 900The management of the company decided to charge 3% of the total accounts receivable . The accounting year is on 31 December
Allowance for Doubtful Debts201
4 RM201
4 RMJan-01 300 Jan 1 Balance b/d 900
Dec 31 Balance c /d 600
900 9002015
Jan-01 Balance b/d 600
Income StatementFor the year ended of 31 December 2015
RM Allowance for Doubtful Debts 600
Statement Of Financial Position As at 31 December 2014
Current Assets RMAccount Receivable 20000Allowancw for Doubtful debts (600)
19400
Working : RM 20,000 x 3% RM 600 – RM 900 = RM600 = - RM 300 (decreased)
Chapter 10 Control Accounts
40
![Page 41: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/41.jpg)
A.Important Notes
41
![Page 42: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/42.jpg)
$$ Sales Control Account $$
Balance b/d 1 支票不过账 2 折扣取消 3. 顾客多还 (refund)
Balance(minority) b/d 1 还钱 2 Purchases control --Contra
不能进的项目 ---- 1 . Cash Sales 2. Provision for bad debts 3. Bad debts recover (进两边)
$$ Purchases Control Account $$
Balance(minority) b/d 1 还钱 2 Sales control -- contra
Balance b/d 1 买货 2 钱还多了(refund)
不能进的项目 ---- 1 . Cash Purchases
Chapter 11 Non- Current Assets & Depreciation
A. Method42
![Page 43: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/43.jpg)
1. Straight line Method
Depreciation = CostUseful Life or Cost−Scrap valueUseful Life
or Cost x % of depreciation ( Cost – Scrap value ) x % of depreciation
2. Reducing Method / Diminishing Opening Carrying Amount x % of depreciation (Cost – Accumulated depreciation ) x % of depreciation
B. Calculation Aman bought a Van at a cost of RM18000 on 1 Jan 2010. He estimated the scrap value of the van would be RM 2000 after 4 years . You are required to calculate the depreciation for 4 years using : a) straight line method b) reducing bLnce method at 50 % per annum
43
![Page 44: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/44.jpg)
End of
Cost Annual Depreciation AccumulatedDepreciation
Carrying Amount
Straightline
Reducingbalance
Straightline
Reducingbalance
Straightline
Reducingbalance
2010
18000
RM4000
RM9000
(18000x50%)
4000 9000 14000 9000
2011
18000
4000 4500(9000x50%
)8000 13500 10000 4500
2012
18000
4000 2250(4500x50%
)12000 15750 6000 2250
2013
18000
4000 1125(2250x50%) 16000 16875 2000 1125
straight line method
Depreciation --- = CostUseful Life
= 18000−20004
= 4000C. Accounting Entries ( Accumulated Depreciation is not opened)
Motor vehicle Account2010 RM 2010 RM
Jan-01 Bank 18000 Dec 31 Depreciation 400031 Balance c/d 14000
18000 180002011 2011
Jan-01 Balance b/d 14000 Dec 31 Depreciation 400031 Balance c/d 10000
14000 14000
44
![Page 45: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/45.jpg)
2012 2012Jan-01 Balance b/d 10000 Dec 31 Depreciation 4000
31 Balance c/d 600010000 10000
2013 2013Jan-01 Balance b/d 6000 Dec 31 Depreciation 4000
31 Balance c/d 20006000 6000
2014Jan-01 Balance b/d 2000
Depreciation Of Motor Vehicles
2010 RM 2010 RM
Dec 31Motor Vehicle 4000 Dec 31 Profit and Loss 4000
2011 2011
Dec 31Motor Vehicle 4000 Dec 31 Profit and Loss 4000
2012 2012
Dec 31Motor Vehicle 4000 Dec 31 Profit and Loss 4000
2013 2013
Dec 31Motor Vehicle 4000 Dec 31 Profit and Loss 4000
Income StatementFor the year ended of 31 December 2010
RMDepreciation of Motor Vehicle 4000
Income StatementFor the year ended of 31 December 2011
RMDepreciation of Motor Vehicle 4000
Income StatementFor the year ended of 31 December 2012
RMDepreciation of Motor Vehicle 4000
45
![Page 46: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/46.jpg)
Income StatementFor the year ended of 31 December 2013
RMDepreciation of Motor Vehicle 4000
Statement of Financial Position As at 31 December 2010
N0n-Current Assets RM Motor Vehicle 14000
Statement of Financial Position As at 31 December 2011
N0n-Current Assets RM Motor Vehicle 10000
Statement of Financial Position As at 31 December 2012
N0n-Current Assets RM Motor Vehicle 6000
Statement of Financial Position As at 31 December 2013
N0n-Current Assets RM Motor Vehicle 2000
B. Accumulated Depreciation is opened
Motor vehicle Account2010 RM 2010 RM
Jan-01 Bank 18000 Dec 31 Balance c/d 180002011 2011
Jan-01 Balance b/d 18000 Dec 31 Balance c/d 180002012 2012
Jan-01 Balance b/d 18000 Dec 31 Balance c/d 180002013 2013
Jan-01 Balance b/d 18000 Dec 31 Balance c/d 180002014
Jan-01 Balance b/d 18000
46
![Page 47: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/47.jpg)
Depreciation Of Motor Vehicles
2010 RM 2010 RMDec 31 Motor Vehicle 4000 Dec 31 Profit and Loss 4000
2011 2011Dec 31 Motor Vehicle 4000 Dec 31 Profit and Loss 4000
2012 2012Dec 31 Motor Vehicle 4000 Dec 31 Profit and Loss 4000
2013 2013Dec 31 Motor Vehicle 4000 Dec 31 Profit and Loss 4000
Accumulated Depreciation Of Motor Vehicles
2010 RM 2010 RMDec 31 Balance c/d 4000 Dec 31 Depreciation 40002011 2011
Dec 31 Balance c/d 8000 Dec 31 Balance b/d 4000 Dec 31 Depreciation 4000
8000 80002012 2012
Dec 31 Balance c/d 12000 Dec 31 Balance b/d 8000 Dec 31 Depreciation 4000
12000 120002013 2013
Dec 31 Balance c/d 16000 Dec 31 Balance b/d 12000
47
![Page 48: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/48.jpg)
Dec 31 Depreciation 400016000 16000
2014Dec 31 Balance b/d 16000
Income StatementFor the year ended of 31 December 2010
RMDepreciation of Motor Vehicle 4000
Income StatementFor the year ended of 31 December 2011
RMDepreciation of Motor Vehicle 4000
Income StatementFor the year ended of 31 December 2012
RMDepreciation of Motor Vehicle 4000
Income StatementFor the year ended of 31 December 2013
RMDepreciation of Motor Vehicle 4000
Statement of Financial Position As at 31 December 2010
N0n-Current Assets RM Motor Vehicle 18000Less : Accumulated Depreciation (4000)
14000
Statement of Financial Position As at 31 December 2011
N0n-Current Assets RM Motor Vehicle 18000Less : Accumulated Depreciation (8000)
10000
Statement of Financial Position As at 31 December 2012
48
![Page 49: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/49.jpg)
N0n-Current Assets RM Motor Vehicle 18000Less : Accumulated Depreciation (12000)
6000
Statement of Financial Position As at 31 December 2013
N0n-Current Assets RM Motor Vehicle 18000Less : Accumulated Depreciation (16000)
2000
C. Depreciation Is not OpenedMotor vehicle Account
2010 RM 2010 RMJan-01 Bank 18000 31 Balance c/d 18000
2011 2011Jan-01 Balance b/d 18000 Dec 31 Balance c/d 18000
2012 2012Jan-01 Balance b/d 18000 Dec 31 Balance c/d 18000
2013 2013Jan-01 Balance b/d 18000 Dec 31 Balance c/d 18000
2014Jan-01 Balance b/d 18000
Accumulate
49
![Page 50: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/50.jpg)
d Depreciation Of Motor Vehicles
2010 RM 2010 RMDec 31 Balance c/d 4000 Dec 31 Profit and Loss 4000
2011 2011Dec 31 Balance c/d 8000 Dec 31 Balance b/d 4000
Dec 31 Profit and Loss 40008000 8000
2012 2012Dec 31 Balance c/d 12000 Dec 31 Balance b/d 8000
Dec 31 Profit and Loss 400012000 12000
2013 2013Dec 31 Balance c/d 16000 Dec 31 Balance b/d 12000
Dec 31 Profit and Loss 400016000 16000
2014Dec 31 Balance b/d 16000
Income StatementFor the year ended of 31 December 2010
RMAccumulated Depreciation 4000
Income StatementFor the year ended of 31 December 2011
RMAccumulated Depreciation 4000
Income StatementFor the year ended of 31 December 2012
RMAccumulated Depreciation 4000
50
![Page 51: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/51.jpg)
Income StatementFor the year ended of 31 December 2013
RMAccumulated Depreciation 4000
Statement of Financial Position As at 31 December 2010
N0n-Current Assets RM Motor Vehicle 18000Less : Accumulated Depreciation (4000)
14000
Statement of Financial Position As at 31 December 2011
N0n-Current Assets RM Motor Vehicle 18000Less : Accumulated Depreciation (8000)
10000
Statement of Financial Position As at 31 December 2012
N0n-Current Assets RM Motor Vehicle 18000
51
![Page 52: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/52.jpg)
Less : Accumulated Depreciation (12000)6000
Statement of Financial Position As at 31 December 2013
N0n-Current Assets RM Motor Vehicle 18000Less : Accumulated Depreciation (16000)
2000
Chapter 12 End-of-period Adjustment
A. Income and Expenses
Income Expenses1. Rent Received2. Commission Received3. Interest on Fixed Deposit4. Dividend
1. Insurance2. Rental3. Salaries4. Electricity
Expenses -- 应付未付--- Current Liabilities
52
![Page 53: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/53.jpg)
未到先付--- Current Assets
Income --- 应收未收 --- Current Assets 未到先收---- Current Liabilities
年终调整 --- 所有 Accrued / In Arrear 到期了,未付 或 未收 要加上 --- 所有 Prepaid / In Advance 未到期,先付 或 先收 要减掉B. Accounting Entries
Car Expenses1985 RM 1985 RM
53
![Page 54: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/54.jpg)
Dec 31 Cash(1250 x 3/4) 938 Jan-01 Balance b/d 10431 Balance c/d 68 Dec 31 Profit and Loss 912
1016 10161986
Jan-01 Balance b/d 68
Rent Receivable
1985 RM 1985 RMDec 31 Profit and Loss 6000 Jan-01 Balance b/d 500
31 Balance c/d 1000 Dec 31 Cash 65007000 7000
1986Jan-01 Balance b/d 1000
Rent Payable1987 RM 1987 RM
Jan-02 Cheque 750 Sept-30 Profit and Loss 3000
54
![Page 55: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/55.jpg)
Mar 28 Cheque 750Jun-30 Cheque 750Sept-30 Balance c/d 750
3000 30001988Oct 1 Balance b/d 750
Rent Receivable
1987 RM 1987 RMSept-30 Profit and Loss 500 May 2 Cheque 300
(1200 x 5/120 Aug 1 Cheque 300Sept-30 Balance c/d 100
600 6001988Oct 1 Balance b/d 100
Chapter 13 Manufacturing Acoount
(Work- in - progress at PRIME COST )Company'sname
Manufacturing Accountfor the year ended 31 December 2015
RM RMRaw MeterialOpening Stock xxPurchases xxLess: Return Outwards (xx)
xxAdd: Carriage Inwards xx xx
xxLess : Closing Stock (xx)
xxLess : Scrap Sales (xx)Raw Material Consumed xxx
55
![Page 56: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/56.jpg)
Direct LabourDirect wages / manufacturing wages xx
Direct ExpensesRoyalties xx
Work-in progress (at Prime Cost )Opening stock xxLess : closing stock (xx) xxPrime Cost xxx
Factory OverheadIndirect wages xxFactory expenses xxElectricity xxWater xxFactory power xxDepreciation of machinery xxLoose Tools (opening stock + purchases - closing stock) xx xxFactory Cost of Production xxFactory Profit ( transfer to profit and loss Account ) xxStandard Cost of Production xx
56
![Page 57: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/57.jpg)
Raw MeterialOpening StockPurchasesLess: Return Outwards
Add: Carriage Inwards
Less : Closing Stock
Less : Scrap SalesRaw Material Consumed
Direct LabourDirect wages / manufacturing wages
Direct ExpensesRoyaltiesPrime Cost
57
![Page 58: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/58.jpg)
Factory OverheadIndirect wagesFactory expensesElectricityWaterFactory powerDepreciation of machineryLoose Tools (opening stock + purchases - closing stock)
Work-in - progress ( at Faoctory cost )Opening StockLess: Closing StockFactory Cost of ProductionFactory Profit ( transfer to profit and loss Account )Standard Cost of Production
58
![Page 59: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/59.jpg)
59
![Page 60: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/60.jpg)
60
![Page 61: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/61.jpg)
Example :
61
![Page 62: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/62.jpg)
Solution :
62
![Page 63: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/63.jpg)
63
![Page 64: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/64.jpg)
64
![Page 65: Book Keeping Senior One](https://reader037.vdocument.in/reader037/viewer/2022102714/577c77a71a28abe0548cf519/html5/thumbnails/65.jpg)
65