Just Answer No Need Explaination 36) Below items are not for the Cost of Goods Sold except for: A) Carriage inwards B) Rental C) Advertisement D) Net Profit 37) Information below is obtained from Maurice Shop. RM Sales 56,400 Purchases 32,800 Stock as at 1 Jan 6,540 Stock as at 31 Dec 5,120 Sales Return 230 Carriage Inwards 690 Calculate the Gross Profit for Maurice Shop. A) RM21,260 B) RM21,490 C) RM23,600 D) RM24,330 38) Which of the below will increase the cost of purchases? I Salary II Import Tax III Carriage Inwards IV Carriage Outwards A) I and II B) I and IV C) II and III D) III and IV 39) An item below is not recorded in the Balance Sheet. Please identify. I Loan II Insurance III Sales IV Furniture A) I and II B) I and IV C) II and III IV) III and IV 40) In a Public Listed Company, below are the components for Equity except: A) Ordinary Share Capital B) Preference Share Capital C) Net Profit D) Sales 41) Identify the transactions which will be debited in the Cash Account. I Stock purchased by cash III Owner brings in cash as business capital II Paid creditor by cheque IV Debtors pay their debt by cash A) I and II B) I and IV C) II and III D) III and IV 42) Listed below are the items for current assets except: A) Prepayments B) Cash C) Vehicle D) Closing Stock 43) Identify the correct accounting cycle. A) Journal, Trial Balance, Ledger, Profit & Loss Account, Balance Sheet. B) Ledger, Trial Balance, Journal, Profit & Loss Account, Balance Sheet. C) Journal, Ledger, Trial Balance, Profit & Loss Account, Balance Sheet. D) Ledger, Journal, Trial Balance, Profit & Loss Account, Balance Sheet. 44) As at 31 Dec 20X1, the book of Aiden Enterprise shows the below balances: RM Assets 60,000 Liabilities 21,108 Calculate the new owner's equity figure for 31st Jan 20X2 if the business incurred a loss of RM5,950. A) RM28,248 B) RM31,752 C) RM32,942 D) RM44,842 45) As at 31 Dec 20X1, the book of Aiden Enterprise shows the below balances: RM Assets 60,000 Liabilities 21,108 Calculate the owner's equity figure for 1st Jan 20X1 if the business incurred a loss of RM5,950 at 31st Dec 20X1. A) RM28,248 B) RM31,752 C) RM32,942 D) RM44,842 46) A rental of RM1,500 is duly paid monthly. However, in the month of October, the rental is paid lump sum for three months. Calculate the prepaid rental amount. A) RM1,500 B) RM3,000 C) RM4,500 D) RM6,000 47) Profit and Loss Account is also known as: A) Income Statement B) Financial Statement C) Financial Position D) Balance Sheet 48) In the Profit and Loss Account, net profit figure will be transferred to: A) Income Statement B) Balance Sheet C) Bank Statement D) Cash Flow Statement 49) During the delivery of goods to the buyer, the supplier did not cover for the transportation expenses. In the buyer's book, the expenses is called: A) Purchase Discount B) Sales Discount C) Carriage Outward D) Carriage Inward 50) A buyer returned the goods to the supplier because the goods were damage. In the supplier's book the transaction will be recorded as: A) Return Inward B) Return Outward C) Sales D) Purchases