BBM205/03 Fundamental Accounting
Course Project (25%)
Semester 1, January 2022
1. That is a person task and it covers data acquired from Unit 1 to
2. There are 5 (5) observe questions on this task. Please reply ALL
questions. Complete marks awarded for CA is 100, which can contribute to 25% of the
whole course evaluation.
three. Proof of plagiarism or collusion will probably be taken severely and the College
rules will probably be utilized strictly, henceforth please be aware of the
College’s definitions of plagiarism and collusion. You shouldn’t share your
solutions with others as a result of any proof of plagiarism or collusion discovered might
lead to ZERO mark being awarded to all concerned and additional disciplinary motion
four. For CA submission, please connect (utilizing “Insert Object”) your CA and submit
by the On-line Project Submission (OAS) system. Be sure to verify
your WOU e mail after you’ve gotten submitted your CA as you can be notified in your
WOU e mail if there’s a failure of submission or file corruption.
5. Your task will probably be assessed on the factual reply offered primarily based in your
studying and evaluation from varied references associated to this course. As well as,
it is best to display a sound data of the matters coated and cling to
the right referencing method.
6. Please observe the format present by the College in your cowl web page.
7. Please title and save your CA in response to the next guideline:
Copyright © 2022 WOU
Reply ALL questions beneath.
The unadjusted trial steadiness and the adjustment information for Robin Coaching Institute are
given beneath together with adjusting entry data.
Robin Coaching Institute
Unadjusted Trial Stability as at 31 August 2021
Accounts receivable 59,000
Pay as you go insurance coverage 12,000
Amassed depreciation for gear 2,000
Amassed depreciation for buildings 17,500
Unearned hire 16,000
Financial institution mortgage 50,000
Charges earned 97,400
Repairs and upkeep 5,000
Curiosity expense four,000
Complete 298,500 298,500
i. The Pay as you go Insurance coverage account consists of a cost for one 12 months coverage. An
evaluation of the insurance coverage bill signifies that one half of the coverage has expired
by the tip of the 31 August year-end.
ii. A money cost for house sublet for eight months was obtained on 1 March and was
credited to Unearned Lease.
iii. Accrued curiosity expense on the mortgage of RM1,000 has been incurred however not paid.
If these changes will not be recorded,
a. Present and clarify the influence on web revenue with calculation with out the
changes and with the changes. (11 marks)
b. Clarify the accounting rules which are being violated if the changes will not be
made. (four marks)
Johan began a brand new enterprise, and accomplished the next transactions throughout its first month of
i. Johan invests RM80,000 money within the enterprise by depositing the cash within the
ii. The corporate bought a chunk of land for RM52,000 by cheque.
iii. The corporate additionally bought a constructing for RM36,000 to make use of as an workplace, paying
RM6,000 by cheque and a mortgage from Maybank for the remaining RM30,000.
iv. Bought instruments and gear on account, RM13,800
v. Bought among the instruments at a value equal to their value, RM1,800, collectible inside45
vi. Acquired RM600 in partial assortment of the account receivable from the sale of
vii. Paid RM6,800 in partial cost for the instruments and gear bought on
To document the transactions utilizing the Accounting Equation. (15 marks)
An organization made the next merchandise purchases and gross sales throughout the month of
Could with the belief that there was no starting stock:
Date Actions Items Acquired at
Items Bought at Retail
1 Could Bought 300 items at RM15/unit
three Could Bought 270 items at RM20/unit
eight Could Bought 500 items at RM55/unit
12 Could Bought 300 items at RM24/unit
14 Could Bought 250 items at RM55/unit
23 Could Purchases 250 items at RM30/unit
25 Could Purchases 800 items at RM25/unit
31 Could Gross sales 900 items at RM55/unit
a. Compute the worth of the stock as at 31 Could 2021 by utilizing the first-in,
first out (FIFO) methodology. (13 marks)
b. State the worth of purchases, value of products offered and gross sales. (2 marks)
The next data is obtainable for the Avira Language Middle for the month of
i. On 30 September, in spite of everything transactions have been recorded, the steadiness within the
firm’s Checking account has a steadiness of RM27,202.
ii. The corporate’s financial institution assertion reveals a steadiness on 30 September of RM29,279.
iii. Excellent cheques at 30 September embody cheque quantity 3030 within the
quantity of RM1,525 and cheque quantity 3556 within the quantity of RM1,459.
iv. A credit score memo included with the financial institution assertion signifies that the financial institution collected
RM780 on a noninterest-bearing word receivable for Avira. The financial institution deducted a
RM10 assortment price, and credited the rest of RM770 to Avira’s account.
v. A debit memo included with the financial institution assertion reveals a RM67 NSF verify from a
buyer, Mr Brown.
vi. A deposit positioned within the financial institution’s evening depository on 30 September totaled
RM1,675, and didn’t seem on the financial institution assertion.
vii. Examination of the cheques on the financial institution assertion with the entries within the
accounting information reveals that cheque quantity 3445 for the cost of an
account payable was appropriately written for RM2,450, however was recorded within the
accounting information as RM2,540.
viii.Included with the financial institution assertion was a debit memorandum within the quantity of
RM25 for financial institution service costs. It has not been recorded on the corporate’s
a. Put together the September financial institution reconciliation for the Avira. (10 marks)
b. Put together the overall journal entries to carry the corporate’s e-book steadiness of financial institution
into conformity with the reconciled steadiness as of September 30 2021. (5 marks)
The next is the trial steadiness for Tatt Buying and selling as at 31 October 2021:
Financial institution 6,453
Commerce receivables 18,910
Commerce payables 22,520
Stock at 31 October 2020 40,360
Buildings at value 70,000
Tools at value 45,000
Earnings b/d 27,000
Capital – 70,000
Gross sales 165,486
Carriage inwards 2,zero70
Carriage outwards 1,890
Charges and occupancy bills four,735
Restore and upkeep three,522
Sundry bills 1,896
Provision for uncertain money owed 500
Amassed depreciation at 31 October 2020:
i. Stock at 31 October 2021 amounted to RM55,000.
ii. Repairs and upkeep owing RM222, sundry bills owing RM196.
iii. Wage accrued quantity to RM1,310.
iv. RM900 is offered for uncertain money owed.
v. Depreciation on value: Buildings 2 per cent; Tools 10 per cent.
Put together the Assertion of Complete Revenue for the 12 months and the Assertion of
Monetary Place for Tatt Buying and selling as at 31 October 2021. (Complete: 40 marks)
END OF QUESTION PAPER