ACC4304: The Martin Mars is a sole proprietorship owned by Mr. Martin which has been in operation for a year: Accounting Assignment, UM, Malaysia

University Universiti Malaya (UM)
Subject ACC4304: Accounting

Question 

The Martin Mars is a sole proprietorship owned by Mr. Martin which has been in operation for a year. Mr. Martin has kept track of his transactions and wishes to know whether or not he earned a profit. The following is the balance of the accounts as of 31 December 2011. RM Utility expenses 13,400 Stocks as at 1 January 2009 45,000 Stationeries 350 Staff salaries 55,000 Sales salaries 7,000 Sales 416,000 Purchases 222,000 Purchase return 9,800 Office rental 22,000 Motor vehicles 240,000 Motor expenses 1,880 Land and building 665,000 Interest received 600 Interest on loan 8,000 Import duty 4,100 General expenses 1,300 Furniture 126,800 Drawings 3,550 Discount received 2,250 Discount allowed 3,590 Debtors 16,330 Creditors 28,870 Capital ?

Cash 5,550 Carriage outwards 1,150 Bank loan 110,000 Bank 332,000 Bad debts 2,230 Additional information: 1. Depreciation is to be provided as follows: i. Motor vehicles at 10% per annum. ii. Furniture at 15% per annum. 2. Interest on the loan was charged at 10% per annum and office rental is RM2,000 per month. 3. Accrued interest received as of the date is RM480. 4. Physical count of the stock at the end of the period amounts to a value of RM50,000. 5. On 31 December 2011, Mr. Martin took out goods for personal use amounting to RM3,000 and there is no record made in any books of accounts.

Are You Searching Answer of this Question? Request Malaysian Writers to Write a plagiarism Free Copy for You.

Get Help By Expert

Malaysia Assignment Help offers cheap assignment help on the ACC4304: Accounting. Our master's degree writers are capable enough to deliver flawless solutions on accounting assignments at a low price.

Answer

Recent Solved Questions

Online Exam & Assignment Writing Services

51770+ Orders Delivered

4.9/5
5 Star Rating

Confidential & Secure Assignment Help For

Group Assignment Help

Online Exam -Test & Quiz

Cheapest Price Quote

Diploma & Certificate Levels

Semester & FYP Papers

Summative & Individual

GBA & Reflective

Last Minute Assistance

Sample Assignment Download

CSC536 Multimedia Instructional Design Assignment Example, Malaysia
This course introduces the instructional design process and model. It emphasizes that you can't achieve a successful learning application without first understanding how to develop an effective curriculum for your…
Computer & It
FAR660 Advanced Financial Accounting And Reporting 2 Assignment UITM Example Malaysia
The course builds on the knowledge and skills introduced in FARS 410, 460, 510 & 560; it reinforces fourth stage capabilities/competencies with IFRS. The discussion of professional accountants' role in…
Accounting

UP TO 15 % DISCOUNT

Instant Paper Writing Services by Native Malaysia Writers

Plagiarism Free Solutions
100% Original Work
24*7 Online Assistance
Native PhD Experts
Hire a Writer Now

Get Assistance for Assignments, online Exam, and Projects Writing