Past Semester Ais 280

private AC/SEP 2011/AIS280/CAC230 UNIVERSITI TEKNOLOGI mara FINAL EXAMINATION charge COURSE CODE EXAMINATION TIME COMPUTERIZED ACCOUNTING/ COMPUTERISED ACCOUNTING AIS280/CAC230 SEPTEMBER 2011 3 HOURS INSTRUCTIONS TO CANDIDATES 1. This question paper consists of four (4) parts PART A (20 Questions) PART B (3 Questions) PART C (3 Questions) PART D (2 Questions) 2. outcome ALL questions from all four (4) parts i) Answer PART A in the Objective Answer Sheet. ii) Answer PART B, C and D in the Answer folder. Start each answer on a new page. . Do non bring any material into the scrutiny room unless permission is given by the invigilator. 4. Please check to withdraw sure that this examination pack consists of i) the Question Paper ii) an Answer Booklet provided by the strength iii) an Objective Answer Sheet provided by the Faculty DO not TURN THIS PAGE UNTIL YOU ARE TOLD TO DO SO This examination paper consists of 14 printed pages Hak Cipta Universiti Teknologi MARA underground mysterious 2 AC/SEP 2011/AIS280/CAC230 PART A This part consists of 20 multiple-choice questions.Choose the most suitable answer and shade the corresponding first principle representing the answer in the Objective Answer sheet provided. 1. Which of the following statements round relative cell referencing is INCORRECT? a. It changes automatically when copying cell regulation from one(a) cell location to another location. b. It is usually denoted by this scratch = or+. c. It is useful since it saves our time from typing the same data or formula into different location. d. It can also occur when a cell is entered in a formula using the $ symbol. 2. Cell B1 and B2 shows a apprize of 20 and 30 respectively.What is the best formula to total the values in cell B3? a. =B20+B30. b. =B1+B2. c. =$B$1+$B$2. d. =B$20+B$30. 3. The formula =IF(OR(condition 1, condition 2, condition 3), YES, NO) volition give the go . YES if condition 1 and 2 ar met. i. NO if condition 2 and 3 ar met. ii . YES if all the conditions ar met. v. NO if all the conditions are not met. a. b. c. , ii and iii i, iii and iv , iii and iv d. All of the above 4. In Excel the * symbol is considered as a a. Label b. Text c. occur d. Formula Hak Cipta Universiti Teknologi MARA cloak-and-dagger privy 3 AC/SEP 2011/AIS280/CAC230 . The following description relates to which type of analytical function? It has only one condition to test If the condition is not met, the outcome is true and If the condition is met, the outcome is false a. AND function. b. OR function. c. NOT function. d. ROUND function. Questions 6 and 7 are based on bod 1 under A B c D L F G KARAMBUNAI TRADING ADJUSTED TRIAL BALANCE AS AT 31 AUGUST 2011 Freehold Land Motor Vehicles Accumulated depreciation Motor Vehicle gross revenue Rent Administration Salaries Advertising Expenses shout out lEIectricity Purchases Stationery Bank overdraftCapital Debtors Creditors Inventory Accrued Rent depreciation Motor Vehicles Clos ing Inventory Opening Inventory Doubtful debts training for Doubtful debts TRIAL BALANCE debit entry (RM) 400,000 600,000 253,600 240,000 96,000 59,600 18,600 340,000 22,400 15,200 30,000 2,075,400 Credit (RM) 240,000 832,000 142,000 760,000 101,400 2,075,400 ADJUSTED ENTRIES calculate Credit (RM) (RM) 72,000 (b) 1,200 (a) 28,300 (d) 30,000 (e) 1,200 (a) 72,000 (b) 28,300 (d) 30,000 (e) 760 (f) 760 (f) 132,260 132,260 H I ADJUSTED TRIAL BALANCE Debit (RM) 400,000 600,000 254,800 240,000 96,000 59,600 18,600 340,000 2,400 15,200 28,300 72,000 30,000 760 2,177,660 Credit (RM) 312,000 832,000 142,000 760,000 101,400 1,200 28,300 760 2,177,660 Figure 1 6. The following statements are remunerate more or less the data inserted in cell D10, EXCEPT a. it represents accrued rent for the point in time b. it will be transferred to the labyrinthine sense sheet under current summation c. it will be sh proclaim in cell H10 as an addition to the balance in cell B10 d. failure to take into account the amount will be resulted on overstating the net profit. 7. Based on the Figure 1 above, what is the best formula for cell H6? a. =IF(0 Enter the date range 1/01/2011 to 31/01/2011 - infiltrate Display. c. Report - Accounts - Select Transaction Journal from ability to Reports - Customize Enter the date range 01/01/2011 to 31/01/2011 - Click Display. d. Click the Accounts icon at the main Command centre, and click Transaction Journal. 15. departure is use to generate report in various format much(prenominal) as PDF , Email and Fax. a. Print b. Send To c. Customize d. Close 16. Which picking cannot be found in Banking Command Centre? a. Spend funds b. Receive Money c. Reconcile Accounts d. Bank recountment 17. Which of the following statements are CORRECT? . If the beau mondes financial year starts on 1 September 2011 and ends on 31 August, 2012, its current financial year is 2012. ii. The report that enables you to view personal line of credit movements for each i tem is Item tendency (Summary), iii. The Banking Command Centre cannot be used to record money received for peaks created via Sales Command Centre, iv. An invoice can be changed to a quote or an order. a. i and iii. b. ii and iv. c. i, ii and iii. d. i, ii and iv. 18. In the event that a refund to client is required in relation to the Credit Note issued, click the pay Refund button at the . a. Bank Register. b.Sales Registers Returns and Debits Tab window. c. Sales Registers Returns and Credits Tab window. d. Settle Returns and Credits Tab window. Hak Cipta Universiti Teknologi MARA hugger-mugger CONFIDENTIAL 7 AC/SEP 2011/AIS280/CAC230 19. Which of the following account has the correct prefix reckon in MYOB? Account Name Account Number a. Inventory 2-4000 b. Owners Equity 8-0000 c. Bank Charges 6-5555 d Other Expenses 7-1000 20. The following options are available to build the accounts list in MYOB, EXCEPT a. start with one of the list provided by MYOB. b. import a list of ac counts from the companys accountant. . build own account from scratch. d. export from other companys account list. ( substance 20 marks) Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL 8 AC/SEP 2011/AIS280/CAC230 PARTB Answer ALL questions. school principal 1 The following questions are based on Figure 4 on a lower floor 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 IS 19 20 21 22 23 25 26 27 28 23 SO 3 1 32 33 34 35 36 37 38 A B Reducinq Balance system Machine Straiqht 1 WDR 1704 course 20O6 2007 2008 200S 2010 2011 Line method Motor Vehicles family 2006 2007 2008 2009 2010 201 1 DEPRECIATION EXPENSES 26,297. 06 17,076. 59 11,089 07 ,200 94 4,676. 09 3,036. 52 SAB 2317 DEPRECIATION EXPENSES 1 5. 800. 00 5,800. 00 5,800 00 5. 800. 00 5,800. 00 5,800 00 C Asset Name Date of Purchase Purchase constitute (RM) Salvage Value (RM) Useful Life years ) D E ALIF HAIKAL BHD Schedule of Depreciation Machine 1 WDR 1704 01/01/2008 75,000. 00 1,000. 00 10 Methods of Deprecia tion cut back Balance Method ACCUMULATED DEPRECIATION 26,297. 06 43,373. 65 54,462 72 61,663. 66 66,339. 75 69,376. 27 ACCUMULATED DEPRECIATION 5,800. 00 11,600. 00 17,400. 00 23,20000 29,000. 00 34,800. 00 35% NET volume abide by 48,702. 94 31,626. 35 20,537. 28 3,336. 34 8,660. 25 5,623. 73 NET BOOK VALUE 54,200. 00 48,400 00 42,600 00 36,800. 00 31,000. 00 25,200 00 F Motor Vehicles SAB 2317 12/02/2006 60,000. 00 2,000. 00 10 Straight Line Method a) b) c) Figure 4 List cardinal (2) differences between the depreciation methods used by Alif Haikal Bhd? (2 marks) State the formula used in each of the following cells i. E11. ii. D19. iii. B32. (6 marks) Describe the steps to format the number in cells B32 through D37 to two (2) decimal places with the thousand separator. (2 marks) (Total 10 marks) Hak Cipta Universiti Teknologi MARA CONFIDENTIALCONFIDENTIAL 9 AC/SEP 2011/AIS280/CAC230 QUESTION 2 The following questions are based on Figure 5 below 1 1 . 2 3 4 5 6 7 8 9 10 11 12 13 14 15 . 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 3? , Ol i B -. .. . . , . . . C D THOMAS BIN JINIS CORPO balanceN BERHAD PROJECTED CASHFLOW rumor Estimated Revenue Projected Sales Less Estimated Expenses Other Fixed monetary value Depreciation Variable speak to Total Expenses Projected Income Before tax LessCorporation taxation (28%) Estimated Project Net Income Net hard currency Flow Estimated Project Net Income Add Back Depreciation Total bills Flow PAYBACK METHODPERIOD END OF YEAR 1 END OF YEAR 2 END OF YEAR 3 END OF YEAR 4 I.. . I category 1 800,000. 0 130,000. 0 170,000. 0 200,000. 0 500,000. 0 300,000. 0 84,000. 0 216,000. 0 216,000. 0 170,000. 0 386,000. 0 ANNUAL CASH FLOW 386,000 415,664 410,538 418,170 E PROJECT NAME PROJECT COST Depreciation Rate course of study 2 880,000. 0 140,000. 0 170,000. 0 228,800. 0 538,800. 0 341,200. 0 95,536. 0 245,664. 0 245,664. 0 170,000. 0 415,664. 0 ACCUMULATED CASHFLOWS 386,000 801,664 1,212,202 1,630,371 Year 3 89 6,000. 0 150,000. 0 170,000. 0 241,920. 0 561,920. 0 334,080. 0 93,542. 4 240,537. 6 240,537. 6 170,000. 410,537. 6 SELECTED PERIOD F XX-2011 850,000 20% Year4 944,000. 0 165,000. 0 170,000. 0 264,320. 0 599,320. 0 344,680. 0 96,510. 4 248,169. 6 248,169. 6 170,000. 0 418,169. 6 Figure 5 a) List the formula for each of the following cells C14. i. C17. ii. C21. v. C23. (6 marks) b) c) What does the symbol in cell E30 federal agency? (2 marks) If the company expects a maximum payback period of 3 years, should the company accept the project? Explain your decision. (2 marks) (Total 10 marks) Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL 10 AC/SEP 2011/AIS280/CAC230 QUESTION 3Question 3 is based on Figure 6 below 1 2 3 4 5 6 7 3 9 10 11 12 13 14 15 16 1? 18 19 20 21 22 23 24 25 26 2? 28 29 30 31 32 33 34 3S 36 3? a) A B CBDSDNBHD ADJUSTED TRIAL BALANCE AS AT 31 SEPTEMBER 2011 Land & Building Accum. Dep. Land & Buidling Furniture & Fittings Accum Dep . F damages .A dvertising Rent Telephone Salaries Capital . Sales Bank Loan Cash in Hand Creditors Debtors Depreciation Prepaid Rent Insurances Owing Cost of Good Sold Total DEBIT RM 288,000 180,000 25,400 26,000 10,000 1,480 2,000 4,200 500 18,000 12,000 1,600 19,840 589,020 CREDIT RM 72,000 46,000 259,300 26,240 58,000 22,280 5,200 589,020 plant innate FIXED ASSETS (NBV) TOTAL CURRENT ASSETS TOTAL OPERATING EXPENSES TOTAL CURRENT LIABILITIES CBD SDN BHD FINANCIAL RATIO REPORT AS AT 31 SEPTEMBER 2011 PROFITABILITY RATIOS GROSS PROFIT RATIO NET breathing out RATIO EFFICIENCY RATIOS 350,000 24,300 76,880 27,480 84. 28% 23. 38% DEBTORS TURNOVER OPERATING EXPENSES RATIO LIQUIDITY RATIOS CURRENT ASSETS RATIOS ACID TEST RATIO 52 geezerhood 60. 90% I 0. 8B TIMES LVALUE TIMES Figure 6 State the formula to calculate the amount in the following cells ii. iii. iv. B27. H12. H35. H22. b) What does the symbol VALUE n cell H37 mean? (8 marks) (2 marks) (Total 10 marks) Hak Cipta Universiti Teknologi MAR A CONFIDENTIAL CONFIDENTIAL 11 AC/SEP 2011/AIS280/CAC230 PARTC Answer ALL questions. QUESTION 1 Question 1 is based on Figure 7 below Sales New Item INVOICE Customer Shb to I ship Backorder Salesperson Commen Ship Via Promsed Date i Re poster De jumal Mernc enal semen livery Status fl Item Number . . .ill Description Terms Invoice tt Date Customer PO tt Price . Pisc% Subtotal transport Tax Total Amount Paid Today Payment Method Balance Due Total fi? Tax Inclusive Job Tax J J