ACC1231 & BUS1233 – Bank Reconciliation (Revision)

Specially made to BUS1233 students, as for ACC1231 is also recommended to attempt. Do tell me the answers…..

Bank reconciliation – Mat Transport

Happy studying….

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BUS1233 & ACC1231- Cashbook and Bank Reconciliation Revision

Assalamualaikum and dear students,

Attached are the exercises for the above topic. As for BUS1233 (the DBA students), it is compulsory for you to attempt this and for ACC1231 (the DIA students) you are encourage to participate.

Next week we will drill to far more exciting topic for your coming exam.

Bank reconciliation – WestPac

Cashbook – Yoda the Jedi Master

So happy studying!

ACC2232 – Cost Accounting (Solution to Contract Costing)

Just now, we have done some exercises and here is the answer for the said question…

Solution:

Contract Account

ParticulaRM Amount ParticulaRM Amount
To Materials 44,250 By Work-in-progress:  
To Plant and Tools 12,200 Work Certified  
To Labour Charges 56,180 ( 1,00,000 x 100/80) 1,25,000  
To General Charges 4,650 Work Uncertified          6,145 1,31,145
To Notional Profit c/d 25,290 By P & L account 1,300
    By materials return to store 2,125
    By Plant and Tools at site 8,000
  1,42,570   1,42,570
To P & L A/c ( 25,290 x 2/3) 16,860 By Notional Profit b/d 25,290
To work in progress(reserve) 8,430    
  25,290   25,290

Balance Sheet as at 31-3-2015

  Liabilities RM. Assets RM.  
  Share Capital 40,000 Bank 45,000  
  P & L A/c                    16,860   Land and Building 25,000  
  Less :                          1,300 15,560 Plant and Tools 8,000  
  Sundry CreditoRM 4,380 Materials at store 2,125  
      Contract A/C  :    
      Work in progress    
      Work Certified      1,25,000    
      Work uncertified       6,145    
      Less : Reserve             8,430    
      Less : Cash Recd.  1,00,000 22,715  
    59,940   59,940