TUTORIAL 1.1

Capital on

1 Jan (RM)

Capital on

31 Dec

(RM)

Additional

Capital

(RM)

Total

Drawings

(RM)

vi

12.000

X

21.000

5,600

3.800

2.000

a)

1 480

7.760

36.400

21.100

X

10.800

X

5.750

X

710

1.000

4 000

440

0

320

950

X

Net

profit,

loss

(RM)

-17.320

-2.550

15,400

X

-3.120

8,550

Find total net profit / loss by using:

i) Formula Equation

in) T-Format

ni) Statement Format

b) En Halim is a retailer who does not keep his business

records according to the double entry system. From the

available records, the following

information

was

retrieved:

Details

Cash

Bank

Account Receivable

Inventories

Vehicle

Account Payable

Accrued General Expenses

On 31 Dec 2006 On 31 Dec 2007

750

1.230

4,500

5,250

11.250

10.560

2.790

3,450

15.000

15.000

8.670

7,680

300

360

En Halim needs help in determining his operation result

for the year ended 31 December 2007 and the following

information was also given:

i) Bad debt of RM500 had occurred but was not recorded in

the business record

in) En Halim withdrew cash RM6,000 to pay for his child's

education fee

ili) New equipment was bought at the end year 2007 at the

price of RM560 and was not recorded in the business

record

iv) En Halim suggested that his business vehicle to be

depreciated at 10% annually

You are required to: Calculate the business profit for the year

ended 31 December 2007

TUTORIAL 1.1 Capital on Capital on Additional 1 Jan (RM) 31 Dec Capital (RM) (RM) Total Drawings (RM) Net profit loss (RM) 1 li 4.000 440 12.000 X 20.000 5.600 00 2.000 1,480 7,760 36,400 21.100 10 NDO 5.250 X 0 710 1.000 17120 -2550 15.400 X 1120 X 550 3.320 950 VE Find total net profit/loss by using: 1) Formula Equation ii) T-Format iii) Statement Format b) En Halim is a retailer who does not keep his business records according to the double entry system. From the available records, the following information was retrieved: Details On 31 Dec 2006 On 31 Dec 2007 Cash 750 1.230 Bank 4.500 5.250 Account Receivable 11.250 10.560 Inventories 2.790 3.450 Vehicle 15.000 15.000 Account Payable 8.670 7,680 Accrued General Expenses 300 En Halim needs help in determining his operation result for the year ended 31 December 2007 and the following information was also given: i) Bad debt of RM500 had occurred but was not recorded in the business record ii) En Halim withdrew cash RM6,000 to pay for his child's education fee iii) New equipment was bought at the end year 2007 at the price of RM560 and was not recorded in the business record iv) En Halim suggested that his business vehicle to be depreciated at 10% annually You are required to: Calculate the business profit for the year ended 31 December 2007 TUTORIAL 1.1 Capital on Capital on Additional 1 Jan (RM) 31 Dec Capital (RM) (RM) Total Drawings (RM) Net profit loss (RM) 1 li 4.000 440 12.000 X 20.000 5.600 00 2.000 1,480 7,760 36,400 21.100 10 NDO 5.250 X 0 710 1.000 17120 -2550 15.400 X 1120 X 550 3.320 950 VE Find total net profit/loss by using: 1) Formula Equation ii) T-Format iii) Statement Format b) En Halim is a retailer who does not keep his business records according to the double entry system. From the available records, the following information was retrieved: Details On 31 Dec 2006 On 31 Dec 2007 Cash 750 1.230 Bank 4.500 5.250 Account Receivable 11.250 10.560 Inventories 2.790 3.450 Vehicle 15.000 15.000 Account Payable 8.670 7,680 Accrued General Expenses 300 En Halim needs help in determining his operation result for the year ended 31 December 2007 and the following information was also given: i) Bad debt of RM500 had occurred but was not recorded in the business record ii) En Halim withdrew cash RM6,000 to pay for his child's education fee iii) New equipment was bought at the end year 2007 at the price of RM560 and was not recorded in the business record iv) En Halim suggested that his business vehicle to be depreciated at 10% annually You are required to: Calculate the business profit for the year ended 31 December 2007