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Kedai Roti Sedap commenced the business on 1st January 2020 nearby UNITAR International University

Accounting

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1. Kedai Roti Sedap commenced the business on 1st January 2020 nearby UNITAR International University. Explain what is assets, liabilities and owner’s equity. Based on the business running by Kedai Roti Sedap, provide TWO (2) examples of the below items:
   1. Fixed assets.
   2. Current assets.
   3. Short term liabilities.
   4. Long-term liabilities.                                                                                   (10 marks)

2. At the beginning of the year, X-Men Sdn Bhd owned assets amounting to RM405,000 and the owner’s equity of RM580,000. During the year, its assets increased by RM125,000 and its liability increased by RM66,000. How much is the owner’s equity at the end of the year?

(3 marks)

3. The following are the year end balances in Rina’s ledgers:

Based on the ledger above, prepare the Trial Balance for Rina.                                  (5 marks)

4. Question i and ii are related to the information below:

1. Calculate the value of X.                                                                                     (1 mark)

2. Calculate the value of Y.                                                                                     (1 mark)

5. Based on the information below, calculate the total depreciation per year using straight- line method.

(5 marks)

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