Revaluation

2005

RM

Dec 31 Plant

2005

2,000 Dec 31 Premises

31 Inventory

8,200

31 Allowance for doubtful debts

3,000

31 Partners ' Capital

31 Aaron

8,400

Chee

5,600

Chong

2,800
30,000

2005
Dec 31 Partners ' Capital
Aaron
Chee
Chong

Goodwill
RM

2005
Dec 31 Partners ' Capital
21,000
Aaron
14,000
Chee
7,000

Partners' Capital
RM
2005

2005
Dec 31 Partners ' Capital

Dec 31 Partners ' Capital

Aaron

21,000

Aaron

Chee

14,000

Chee

Chong

7,000

Revaluation
year 9
Nov

RM
Vehicles

2005

20,000 Nov

1 Partners ' Capital

Dawn
Felicity

Freehold Property
1 Inventory

10,722
7,148

37,870

Goodwill
2005

RM

Dec 31 Partners ' Capital

Dawn

2005
Dec 31 Partners ' Capital

27,000

Dawn (45000x1/3)

Felicity

18,000

Felicity(45000x1/3)
Saunders(45000x1/3)

45,000

Partners' Capital
RM
30,000

RM

2005
Dec 31 Goodwill

RM

RM

25,200 16,800

31 Vehicles

2005
Dec 31Balance b/d

3,900

31 Partners'current

31 Loan - Chong

28,000

31 Revaluation

31 Bank

17,578

31 Goodwill

31 Balance c/d

89,200 67,800
### 84,600

49,478
2006

Jan

30,000

RM
25,200
16,800

2005
Dec 31 Balance b/d
31 Partners' Capital
31 Balance c/d

RM

3,714
3,714

Partners' Current
RM
RM
2005
2,509
Dec 31Balance b/d
4,678
31 Balance c/d

2,509

4,678

2006

Jan

Balance b/d

Balance b/d

2006
Balance b/d
Jan

2,509

RM
25,200
16,800

RM
30,000

Partners' Capital
2005
Dawn FelicitySaunders2005
RM
RM
RM
Nov Partners'curren10,745
Nov Balance b/d
1 Goodwill (w.of 15,000 ### 15,000
1 Partners'current
1 Balance c/d
### ### 46,500
1 Revaluation
1 Goodwill
1 Bank
1 Inventory
1 Vehicles
###

7,870

### 61,500

Partners' Capital
37,870

RM
15,000

2005

Dawn FelicitySaunders2005

RM
Nov Partners'curren10,745
1 Goodwill (w.of 15,000
1 Balance c/d
###

RM

RM

Nov Balance b/d

### 15,000
1 Partners'current
### 46,500
1 Revaluation
1 Goodwill

1 Bank
1 Inventory

15,000
15,000

1 Vehicles

45,000

###

### 61,500

RM

RM

RM

85,000 65,000 35,000

ners'current

###

Ang
RM

Partners'cur
1 Motor
1 Bank

Yap
RM
###
###
###

Loan (yap)

4500

4,678
8,400

5,600

2,500

21,000 14,000

7,000

### 84,600 49,478

Jan

Balance c/d 14,200

RM

RM
4,678

2,509
3,714

2,509

4,678

3,174

Dawn FelicitySaunders
RM
RM
RM
### 81,750
ners'current
8,225
### 7,147
### 18,000
50,000
1,500
10,000
###

### 61,500

Dawn FelicitySaunders

RM
RM
### 81,750
ners'current
8,225
### 7,147
### 18,000

### 7,000

14,200 ### ### 7,000

89,200 67,800

RM
3,714

Partners' Capital
Aw
Eu
RM
RM

RM

50,000
1,500
10,000
###

### 61,500

Partners' Capital
###

Ang
Yap
RM
RM
Jan Balance b/d ### 8,000
1 Revaluation 1,200
800
1 Goodwill
3,000 2,000
1 Bank

Aw
Eu
RM
RM
4,000
400
1,000
###

### ### 5,400 ###

###
Jan Balance b/d

###

5,400 ###

Non-current Assets
Premises
Plant
Vehicles
Fixture

Aaron and Chee

Statement of Financial Position
As at 1 January 2006
RM

Current Assets
Inventory
Acount Receivable
Less : Allowance for doubtful debts
Cash
Total Assets

RM

168,100

54,179
34,980
(3000

Owners' Equity
Partners' Capital
Aaron
Chee

31,980
760

89,200
67,800

Partners' Current
Aaron
Chee
Total Equity

3,714
(2,504

Non- current Liabilities

Loan from Aaron
Loan from Chong

Current Liabilities
Account Payable
Bnk Overdraft
Total Liabilities
Total Equity and Liabilities

RM
120,000
35,000
11,100
2,000

86,919
255,019

157,000

1,205
158,205

28,000
28,000
56,000

19,036
21,778

40,814
96,814
255,019

Dawn ,Fecility and Saunders

Statement of Financial Position
As at 1 November Year 9
Non-current Assets
RM
Freehold Property (110,000 + 30,000 )
140,000
Vehicles (80,000-20,000+10000 )
70,000
Office equipment
30,000

RM

240,000
Current Assets
Inventory ( 17,130+ 7,780 + 1,500)
Acount Receivable
Bank
Total Assets

26,500
2,770
54,400

Owners' Equity
Partners' Capital
Dawn
Felicity
Saunders
Total Equity
Current Liabilities
Account Payable
Total Liabilities
Total Equity and Liabilities

83,670
323,670

173977
100123
46,500
320,600

3,070
3,070
323,670

Ang,Aw and Eu
Statement of Financial Position
As at 1 January 2006
RM

Non-current Assets
Tangible Assets
Premises (7300+2400)
Motor Vehicles (11100-2800)

RM
9,700
8,300

InTangible Assets
Goodwill

18,000

6,000

Current Assets
Inventory
Acount Receivable

2,960
10,976

Owners' Equity
Partners' Capital
Ang
Aw
Eu

14,200
5,400
7,000

Partners' Current
Ang
Aw
Total Equity

2,000
1,000

Non- current Liabilities

Loan from Yap
Current Liabilities
Account Payable
Bnk Overdraft
Total Liabilities
Total Equity and Liabilities

RM

13,936
37,936

26,600

3,000
29,600

4,500

3,700
136

3,836
8,336
37,936

1999
Feb

Balance b/d
5 Sales
10 Abu Bakar
18 Sales
26 Beng Chye
28 Goh Tan

Bank Account
RM
1,000 Feb
800
200
300
30
100

1999
Lee K. T
5 Wages
7 Mohammed
10 Rawi & Co
18 Purchase
25 Stationery
28 Balance c/d

2,750
1999
Mar

Balance b /d

1,680

Cash Book
1999
Feb

Balance b/d

RM
1,680 Feb

1999
Cheque Book
5 Interest
7 Balance c/d

1,680
1999
Mar

Balance b/d

1999
June 30
Divedend
Balance c/d

1,640
Cash Book
RM

1999
80 June 30
Balance b/d
822
30 Payment
30 Bank Charges
& Interest
30 Account Receivable
dishou. Cheque
30 Cheque Book
902
1991
Jul-01 Balance b/d

Year
RM

Debit
RM

1999

90
100
80
200
500
100
1,680
2,750

Feb

Balance b/d
3 Cheque ( Lee K. T )
5 Cash
8 Cheque ( Mohanned )
Cheque (Wages )
12 Cash
19 Cheque ( Purchase )

1,680

RM
600
140
60

100
2
902
822

80
100
500

28 Cheque Book

10

Interest

30

RM
10
30
1,640

90

Credit
RM

Balance
RM
1,000 ( Cr)
910
1,710
1,630
1,530
1,730
1,230

800

200

1,220
1,190( Cr )

Bank Reconcilation Statement

As at 28 Febuary 1999
RM
Balance as per Bank Statement
Add : Uncredited Cheques
- Sales
- Beng Chye
- Goh Tan
Cheque Book

RM
1,190 ( Cr )
300
350
100
10

Interest

30

790
1,980

Less : Unpresented Cheque

- Rawi & Co
- Stationery

200
100

-300
1,680 ( Dr )

Bank Reconcilation Statement

As at 28 Febuary 1999
RM

RM
1,680 ( Dr )

Balance as per Cash Book

Add : Unpresented Cheques
- Rawi & Co
- Stationery

200
100

Less : Uncredited Cheques

- Sales
- Beng Chye
- Goh Tan
Cheque Book
Interest

300
350
100
10
30

300
1,980

790 )
1,190 ( Cr )

Bank Reconcilation Statement

As at 28 Febuary 1999
RM
Balance as per adjusted Cash Book
Add : Unpresented Cheques
- Rawi & Co
- Stationery

RM
1,640 ( Dr )
200
100

300
1,940

Less : Uncredited Cheques

- Sales
- Beng Chye
- Goh Tan

300
350
100

Balance as per Bank Statement

750
1,190 ( Cr )

Bank Reconcilation Statement

As at 30 June 1991
RM
Balance as per adjusted Cash Book
Add : Unpresented Cheques
Bankers' error

RM
822 ( Cr )
1,000
240

Less : Uncredited Cheques

Balance as per Bank Statement

1,240
418
( 500
( 82 ) ( Dr )

Bank Reconcilation Statement

As at 30 June 1991
RM
Balance as per Cash Book
Add : Unpresented Cheques
Bankers' error
Divedend

RM
(600) ( Cr )
1,000
240
80

Less : Uncredited Cheques

Payment
Bank charges and interest
Account Receivable ( dishounour cheque )
Cheque book

500
140
60
100
2

Balance as per Bank Statement

1,320
720

(802
(82) ( Dr )

Bank Reconcilation Statement

As at 30 June 1991
RM
Balance as per Bank Statement
Add : Uncredited Cheques
Payment
Bank charges and interest
Account Receivable ( dishounour cheque )
Cheque book

RM
(82) ( Dr )
500
140
60
100
2

(802

720
Less : Unpresented Cheques
Bankers' error
Divedend
Balance as per Cash Book

1,000
240
80

(1320
( 600) ( Cr )

Boon Seng
Statement to Calculate Capital
As at 1 January 2004
Assets
Motor Van
Equipment
Inventory
Account Receivable
Cash in Hand
Expenses Prepaid

RM

RM
12,200
3,090
6,196
1,435
64
30

23,015

Less : Liabilities
Bank Overdarf

590

Account Payable

955

(1,545

Opening Capital Balance

Boon Seng
Statement to Calculate Capital
As at 31 December 2004
Assets
Motor Van

21,470

RM

RM
9,800

Equipment

3,490

Inventory
Account Receivable

5,900
1,900

Cash in Hand
Less : Liabilities
Bank Overdarf
Account Payable
Allowance for doubtful Debts
Opening Capital Balance

110

21,200

130
660
125

(953
20,247

Boon Seng
Profit Statement
For the year ended 31 December 2004
RM
Closing Capital

RM
20,247

Add : Drawings ( 250 x 12 )

Less : Additional Capital
Opening Capital
Net Profit

3,000
23,247
150
21,470

(21,620
1,627

Boon Seng
Statement of Affair
As at 31 December 2004
Non-Current Assets
Motor Van
Equipment
Current Asssts
Inventory
Account Receivable
Less : Allowance for doubtful debts

RM

RM
9,800
3,490

5,900
1,900
(38

Cash in hand

1,862
110

Total Assets
Owners' Equity
Opening Capital
Add: Net Profit
Additional Capital

21,470
1,627
150

1,777
23,247

Less: Drawing
Closing Capital

(3,000

Current Liabilities
Account Payable

660

Expenses Owing

125

Bank Overdraft
Total Liabilities

130

Total Equity and Liabilities

In the books of Slice :

Joint Venture with Hook
2006

RM

Sept

RM
Bank - Purchase

20,000 Sept

5 Bank - Advertising

13,290

2006
130

30 Profit and Loss

24

Sales Commission

2,850

Interest on Capital

1,000

Profit on Joint . V

3,555

30 Bank - Final settelement

14
30

1,565
29,100

7,782
21,162
In the books of Hook :
Joint Venture with Slice
2006
Sept

RM
Bank - Purchase

2 Bank - Delivery Van

20,247

2006

15,000 Sept
2,300

14

11 Bank- Rental

160

24

17 Bank - Van Repairs

430

30

30 Profit and Loss

Sales Commission

2,070

Interest on Capital

750

Profit on Joint . V

3,555
24,265

915
21,162

re with Hook
RM
Bank - Sales

6,000

Bank - Sales

20,000

Bank - Sales

2,500

Purchase
- Inventory Taken Over

600

29,100

re with Slice
RM
Bank - Sales

9,000

Bank - Sales

7,500

Bank - Sales

4,200

Drawings - Assets Taken

2,000

Bank - Final settelement

1,565

24,265

Purchase - Slice
- Hook
Advertising
Delivery Van - Hook
Rental - Hook
Van Repairs - Hook
Sales Commission

Memorandum Joint Venture

RM
20,000 Sales -- Slice
15,000
-- Hook
130 Inventory Taken Over
2,300 Assets Taken Over
160
430

-- Slice ( 10% x Rm28500)

2,850

-- Hook ( 10% x Rm20700)

2,070

Interest on Capital
-- Slice ( 5% x RM20000)

1,000

-- Slice ( 5% x RM15000)

750

Profit on Joint Venture

-- Slice ( 1/2 x RM7110 )
-- Hook ( 1/2 x RM7110 )

3,555
3,555
51,800

RM
28,000
20,700
600
2,000

51,800