Past Semester Ais 280

multiple choice question

Past Semester Ais 280

CONFIDENTIAL AC/SEP 2011/AIS280/CAC230 UNIVERSITI TEKNOLOGI MARA FINAL EXAMINATION COURSE 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. Answer 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 Booklet. Start each answer on a new page. . Do not bring any material into the examination room unless permission is given by the invigilator. 4. Please check to make sure that this examination pack consists of: i) the Question Paper ii) an Answer Booklet – provided by the Faculty 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 CONFIDENTIAL CONFIDENTIAL 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 alphabet representing the answer in the Objective Answer sheet provided. 1. Which of the following statements about relative cell referencing is INCORRECT? a. It changes automatically when copying cell formula from one cell location to another location. b. It is usually denoted by this sign “=” 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 value 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”) will give the result . YES if condition 1 and 2 are met. i. NO if condition 2 and 3 are met. ii. YES if all the conditions are 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. Number d. Formula © Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL 3 AC/SEP 2011/AIS280/CAC230 . The following description relates to which type of logical 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 Figure 1 below: 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 Sales Rent Administration Salaries Advertising Expenses Telephone lEIectricity Purchases Stationery Bank overdraftCapital Debtors Creditors Inventory Accrued Rent Depreciation – Motor Vehicles Closing Inventory Opening Inventory Doubtful debts Provision for Doubtful debts TRIAL BALANCE Debit (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 Debit 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 correct about the data inserted in cell D10, EXCEPT a. it represents accrued rent for the period b. it will be transferred to the balance sheet under current asset c. it will be shown 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 -; Click Display. c. Report -; Accounts -; Select Transaction Journal from Index 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. button is used to generate report in various format such as PDF , Email and Fax. a. Print b. Send To c. Customize d. Close 16. Which option cannot be found in Banking Command Centre? a. Spend Money b. Receive Money c. Reconcile Accounts d. Bank Statement 17. Which of the following statements are CORRECT? . If the company's 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 stock movements for each item is Item List (Summary), iii. The Banking Command Centre cannot be used to record money received for invoices 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 customer is required in relation to the Credit Note issued, click the Pay Refund button at the . a. Bank Register. b.Sales Register's Returns and Debits Tab window. c. Sales Register's Returns and Credits Tab window. d. Settle Returns and Credits Tab window. © Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL 7 AC/SEP 2011/AIS280/CAC230 19. Which of the following account has the correct prefix number in MYOB? Account Name Account Number a. Inventory 2-4000 b. Owner's 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 accounts from the company's accountant. . build own account from scratch. d. export from other company's account list. (Total: 20 marks) © Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL 8 AC/SEP 2011/AIS280/CAC230 PARTB Answer ALL questions. QUESTION 1 The following questions are based on Figure 4 below: 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 Method Machine Straiqht 1 – WDR 1704 YEAR 20O6 2007 2008 200S 2010 2011 Line Method Motor Vehicles – YEAR 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 Cost (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 Depreciation Reducing 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 BOOK VALUE 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 two (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 CORPORATION BERHAD PROJECTED CASHFLOW STATEMENT Estimated Revenue Projected Sales Less: Estimated Expenses Other Fixed Cost Depreciation Variable Cost Total Expenses Projected Income Before Tax Less:Corporation Tax (28%) Estimated Project Net Income Net Cash Flow Estimated Project Net Income Add Back Depreciation Total Cash Flow PAYBACK METHODPERIOD: END OF YEAR 1 END OF YEAR 2 END OF YEAR 3 END OF YEAR 4 I.. . … I Year 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 Year 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 3 896,000. 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 means? (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 Insurance .Advertising 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 WORKINGS TOTAL 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 LOSS 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 DAYS 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 MARA 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 Invoice De jumal Mernc enal Source livery Status :fl Item Number . . .ill Description Terms Invoice tt: Date: Customer PO tt: Price . Pisc% Subtotal Freight Tax Total Amount : Paid Today Payment Method Balance Due Total fi? Tax Inclusive Job Tax :•: J „J