A - PRE PSPM SET 1 Sesi 2026-2027

TEST 3 PSPM AA015 SESSION 2026/2027 ANSWERS QUESTION 1 A. i. Cash book balance: 6,190 – 2,072 = 4,118 Berjaya Enterprise Bank Reconciliation as at 31 October 2025√ RM RM Balance as per bank statement 3,050√ (+) Deposit in transit Aminah 800√ Bahtiar 415√ Cash Sales 680√ 1,895 4,945 (-) Outstanding cheques: Cheque numbers 305613 280√ Cheque numbers 305614 400√ Cheque numbers 305615 172√ Credit transfer (error) 300√ 1,152 Adjusted balance as bank statement 3,793√ Balance as per cash book 4,118√ (+) Notes Receivable 1,000√ Interest on Notes Receivable 50√ 1,050 8,293 (-) Error: Ahmad - Cheque No. 305616 (650+680) 1,330√√ Service charge 45√ 1,375 Adjusted balance as cash book 3,793 [√ = ½ mark ; 16 √ = 8 marks] ii. Date Accounts Debit (RM) Credit (RM) 2025 Oct 31 Bank Notes Receivable Interest Revenues on Notes Receivable 1,050√√ 1,000√ 50√ Accounts Payable – Ahmad Bank 1,330√ 1,330√ Bank Charge Expense Bank 45√ 45√ [√ = ½ mark ; 8 √ = 4 marks]TEST 3 PSPM AA015 SESSION 2026/2027 B. i. Date Accounts Debit (RM) Credit (RM) 2025 January 9 Sales Return and Allowances Accounts Receivable 2,400√ 2,400√ March 3 Allowance for Doubtful Accounts Accounts Receivable 350√ 350√ December 6 Bank Accounts Receivable 41,000√ 41,000√ [√ = ½ mark ; 6 √ = 3 marks] ii. Date Accounts Debit (RM) Credit (RM) 2025 December 31 Bad Debt Expense Allowance for Doubtful Accounts 1,788√√ W1 1,788√ [√ = ½ mark ; 3 √ = 1 ½ marks] W1 3% √x (62,000 – 2,400) √= 1,788 iii. Allowance for Doubtful Account Date Accounts RM Date Accounts RM 2025 March 3 Accounts Receivable 350√ 2025 Jan 1 b/f 800√ Dec 31 c/f 2,238 Dec 31 Bad Debt Expense 1,788√ 2,588 2,588 [√ = ½ mark ; 3 √ = 1 ½ marks] iv. Orkid Enterprise Statement of Financial Position (Extract) As at 31 December 2025√ Current Assets: RM Accounts Receivable (18,600 + 62,000 – 350 – 2,400 - 41,000) 36,850√√ (-) Allowance for Doubtful Accounts 2,238√ Net Realisable Value 34,612 [√ = ½ mark ; 4 √ = 2 marks]TEST 3 PSPM AA015 SESSION 2026/2027 QUESTION 2 i. FIFO Date Purchases COGS (for sales) Balance Oct 1 200 20 4,000√ Oct 5 300 √ 22√ 6,600 200 20 4,000 300 22 6,600 Oct 10 200√ 20√ 4,000 250 22 5,500 50√ 22√ 1,100 Oct 18 200 √ 24√ 4,800 250 22 5,500 200 24 4,800 Oct 24 180 √ 22√ 3,960 70 22 1,540 200 24 6,340 Oct 30 120 √ 25√ 3,000 70 √ 22 1,540 200√ 24 4,800 120 √ 25 3,000 Total 9,060√ 9,340√ COGS = 9,060 Ending Inventory = 9,340 Gross Profit = [ (250√ x 35√) + (180 √x 36√)] – 9,060√= = 15,230 – 9,060 = 6,170 [√ = ½ mark; 23 √ = 11.5 marks] ii. Date Accounts Debit RM Credit RM 2025 Oct 24 Accounts Receivable / Cash 6,480√ Sales (180 x RM36) 6,480√ Cost of Goods Sold 3,960√ Inventory 3,960√ [√ = ½ mark; 4 √ = 2 marks] iii. Date Purchases COGS (for sales) Balance Oct 1 200 20 4,000 Oct 5 300 √ 22√ 6,600 200 20 4,000 300 22 6,600 Oct 10 250√ 22√ 5,500 200 20 4,000 [√ = ½ mark; 4 √ = 2 marks]TEST 3 PSPM AA015 SESSION 2026/2027 iv. Periodic System — Weighted Average Method Cost of Goods Available for sales = Unit Cost/unit RM 200 20 4,000√ 300 22 6,600√ 200 24 4,800√ 120 25 3,000√ 18,400 Unit available for sales = (200+300+200+120) = 820√ Average cost/unit = RM18,400√ /820 √= RM22.44 Ending Inventory cost = 390 √ x RM22.44 √ = 8,751.60 [√ = ½ mark; 9 √ = 4.5 marks] QUESTION 3 A. i. Year Depreciation Expense Accumulated Depreciation Book Value 2024 60,000 √x 20%√ = 12,000 12,000√ 60,000 √– 12,000√ = 48,000 2025 48,000 √x 20%√ = 9,600 [√ = ½ mark; 7 √ = 3.5 marks] ii. Depreciation Expense - Machine Date Accounts RM Date Accounts RM 2025 Dec 31 Accumulated Depreciation– Machine√ 9,600√ 2025 Dec 31 Statement of Profit or Loss√ 9,600√ Accumulated Depreciation - Machine Date Accounts RM Date Accounts RM 2025 Dec 31 Balance c/f√ 21,600√ 2025 Jan 1 Dec 31 Balance b/f√ Depreciation Expense - Machine√ 12,000√ 9,600√ 21,600 21,600 [√ = ½ mark; 10 √ =5 marks] B. i. Year Depreciation expense 13/3/24 – 31/12/24 [(96,000√– 6,000√) /5√] x 10/12√ = 15,000 1/1/25 – 30/9/25 [(96,000 – 6,000)/5] √x 9/12√ = 13,500 Total 28,500 Gain or Loss = 38,000 √– (96,000 √– 28,500√) Loss on disposal = 38,000 – 67,500 = - 29,500TEST 3 PSPM AA015 SESSION 2026/2027 [√ = ½ mark; 9√ =4.5 marks] ii. Date Accounts Debit RM Credit RM 2025 Sept 30 Depreciation Expense - Equipment√ 13,500√ Accumulated Depreciation - Equipment√ 13,500√ Bank / Cash √ 38,000√ Accumulated Depreciation - Equipment√ 28,500√ Loss on Disposal√ 29,500√ Equipment√ 96,000√ Transportation Expense 800√ Bank 800√ [√ = ½ mark; 14√ =7 marks] QUESTION 4 A. i Date Accounts Debit (RM) Credit (RM) 2025 August 1 Machine 25,000√ Notes Payable 10% 25,000√ September 1 Bank 100,000√ Bonds Payable 6% 100,000√ November 15 Warranty Expense 3,500√ Warranty Payable 3,500√ December 20 Warranty Payable 1,200√ Inventories 1,200√ [√ = ½ mark; 8√ = 4 marks] ii. Date Accounts Debit (RM) Credit (RM) 2025 Dec 31 Interest Expense – Notes Payable 10% 1,041.67√√ Interest Payable – Notes Payable 10% (25,000 x 10% x 5/12) 1,041.67√ Interest Expense – Bonds Payable 6% 2,000√√ Interest Payable – Bonds Payable 6% (100,000 x 6% x 4/12) 2,000√ [√ = ½ mark; 6√ = 3 marks] iii. Date Accounts Debit (RM) Credit (RM) 2026 January 1 Interest Payable – Notes Payable 10% 1,041.67√ Notes Payable 25,000√ Bank 26,041.67√ [√ = ½ mark; 3√ =1 ½ marks]TEST 3 PSPM AA015 SESSION 2026/2027 iv Date Accounts Debit (RM) Credit (RM) 2026 February 28 Interest Payable – Bonds Payable 6% 2,000√ Interest Expense – Bonds Payable 6% 1,000√ Bank 3,000√ [√ = ½ mark; 3√ =1 ½ marks] v. Seroja Enterprise Statement of Financial Position (extract) As at 31 December 2025√ Current Liabilities: √ RM RM Interest Payable – Notes payable 10% 1,041.67√ Interest Payable – Bonds Payable 6% 2,000√ Notes Payable 10% 25,000√ Warranty Payable (3,500 – 1,200) 2,300√ 30,341.67 Non-Current Liabilities: √ Bonds Payable 6% 100,000√ Total Liabilities 130,341.67 [√ = ½ mark; 8√ = 4 marks] B. Amer and Faizal Enterprise Statement of Changes in Equity For the year ended 31 December 2025 Amer RM Faizal RM Total RM Beginning Capital 80,000√ 60,000√ 140,000 (+) Additional capital 10,000√ 5,000√ 15,000 Net profit 40,000 x (90,000/155,000 ) 23226√√ 40,000 x (65,000/155,000 ) 16774√√ 40,000 113,226 81,774 195,000 (-) Drawings 8,000√ 6,000√ 14,000 Ending capital 105,226√ 75,774√ 181,000 [√ = ½ mark; 12√ = 6 marks] C. Gemilang Berhad Statement of Changes in Equity For the year ended 31 December 2025 Common Shares RM Preference Shares RM Retained Earnings RM Total RM Beginning Capital 400,000√ 100,000√ 120,000√ 620,000 (+) Shares Issued 50,000√ - - 50,000 Net profit - - 85,000√ 85,000 450,000 205,000√ 755,000 (-) Dividends - 10% x 100,000 (10,000) √ (10,000) Ending capital 450,000√ 100,000√ 195,000√ 745,000 [√ = ½ mark; 10√ = 5 marks]