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8/8/2019 Group 3 Presentation (Chapter 3)
http://slidepdf.com/reader/full/group-3-presentation-chapter-3 1/7
POLITEKNIK TUANKU
SULTANAH BAHIYAH
COMMERCE DEPARTMENT
P 4201
Financial Accounting 3
Presentation (Chapter 3)
Name:
Lecture: Pn. Hasmida Bt Mohamad Hassan
Submit Date: 29 August 2010
Phanuwat A/L Suni 16DAT08F1018
Kum Pha A/L Ke Ang 16DAT08F1015
Vichai A/L Eh Bok 16DAT08F1017
8/8/2019 Group 3 Presentation (Chapter 3)
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Question 1
The information below relating to Syarikat Haqimi Berhad for the year ended 31
December 2007.
Jan 15 Bought 7 500 units RM1 ordinary shares in Hamka Berhad at RM 1.40 each.
Feb 14 Bought RM20 000 ordinary shares in Faez Berhad at RM15 000
Apr 28 Hamka Berhad issued two units bonus shares for every five units held.
May 31 Sold 4 200 units ordinary shares in Hamka Berhad at RM1.10 each.
Jun 30 Received 2. 5 % dividend from Faez Berhad
Nov 30 Hamka Berhad paid an interim dividend of 4% on the existing ordinaryshares, and made one right issue for every three held at RM1. 20 each.
Haqimi Berhad took up ½ of its right and sold the remaining rights for RM0.
30 each.
Dec 20 Sold 3 150 units ordinary shares in Hamka Berhad at RM1. 40 each.
Dec 30 Received 3 % ordinary shares dividend from Faez Berhad.
It is the policy of Haqimi Berhad to use the weighted average method of calculation the
cost of each investment sold, when determining the profit or loss rising at the time of
each disposal.
Prepare the investment account in the books of Syarikat Haqimi Berhad for the year
ended 31 December 2007.
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Investment Account ± Faez Berhad
Date Particular Nom Income
Cost Date Particular
Nom Income
Cost
(RM) (RM) (RM) (RM) (RM) (RM)14/02/07 Bank -
Bought 20000
- 15000
31/06/07 Bank -dividen - 500 -
30/12/07 Profit &Loss Acct - 1100 -
31/12/07 Bank -dividen - 600 -
31/12/07 Balancec/d 2000
0- 15000
20000
1100 15000
20000
1100 15000
01/01/08 Balanceb/d 2000
01500
0
Investment Account ± Hamka Berhad
Date Particular Nom Income
Cost Date Particular
Nom Income
Cost
(RM) (RM) (RM) (RM) (RM) (RM)15/01/07 Bank -
Bought 7500 - 10500
31/05/07 Bank -
Sold 4200 - 4620
28/04/07 Bonus 3000 - - 30/11/07 Bank - 252 -31/05/07 Profit on
sale - - 420Bank - - 315
30/11/07 Bank 1015 - 1260 20/12/07 Bank 3150 - 441020/12/07 Profit on
sale - - 130530/12/07 Profit &
Loss Acct - 252 -31/12/07 Balance
c/d 4200 - 4140
11550
252 13485
11550
252 13485
01/01/08 Balanceb/d 4200 2880
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Hamka Berhad
Faez Berhad
Date Particular Calculation
15/01/07 Bank ( Bought) 7500 x 1.4 = 10500 (Cost)
28/04/07 Bonus 7500 x 2/5 = 3000 (Nom)
31/05/07 Bank (Sold) 4200 x 1.1 = 4620 (Cost)
Profit on sale 10500X 4200 = 4200(7500+3000
)4620 ± 4200= 420 (Cost)
30/11/07 Bank (dividen) (7500+3000)-4200=6300
6300 x 4% = 252 (Income)
Bank (Right Issue)Sold
6300 x 1/3 = 21002100 / 2 = 10501050 x 0.3 = 315 (Cost)
Bank (Held) 6300 x 1/3 = 21002100 / 2 = 10501050 x 1.2 = 1260 (Cost)
20/12/07 Bank (Sold) 3150 x 1.4 = 4410 (Cost)
Profit on sale (10500+1260+420) ±(4620+315) X 3150 = 3105
(7500+3000+1050) ± 42004410 ± 3105 = 1305(Cost)
Date Particular Calculation
31/06/07 Bank ± dividen 20000 x 2.5% = 500 (Income)
30/12/07 Bank ± dividen 20000 x 3% = 600 (Income)
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Question 2
Sekuriti Awana Berhad is an investment company located in KL. Besides its investment
activities in capital market of the Malaysian Bourse, the company made some investment in
other companies. The investment transactions for the year ended 30/06/2006 were as follows :
Date Transactions
01/07/2005 Bought RM 20,000 10% government stock at 60.5 cum-div. Interest is
payable half yearly on 1 February and August.
15/07/2005 Bought 4,000 units ordinary shares from Wawa Bhd, at nominal RM 0.50
per share at cost RM 8,000.00
01/08/2005 Received half yearly interest from 10% government stock.
15/08/2005 Wawa Bhd, declares a bonus of 2 unit share for every 2 units held.
Sekurity
Awana Berhad sold 2500 units bonus shares at cost RM 2.00 per share.
03/10/2005 Bought 5,000 units ordinary shares from MFW Berhad with nominal price of
RM 1.00 per shares at cost of RM 0.75 per share.
02/01/2006 Sold RM 12,000.00, 10% government stock at 62 ex-div.
01/02/2006 Received half yearly interest from 10% government stock.
01/03/2006 Received 20% dividend from Wawa Berhad.
01/04/2006 MFW Bhd made a right issue of 1 for every 2 shares held at RM 0.50. The
market price for the right is RM 0.25 per share.
01/06/2006 Received 20% dividend from MFW Bhd.
You are required to prepare the investment accounts as it would appear in the book of
Sekuriti Awana Bhd for the year ended 30/06/2006.
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Answer :
InvestmentAccount-10% Government Stock
Date Particular Nom Income Cost Date Particular Nom Income Cost
1/7/05 Bank-Bought 20,000 833 11,276 1/8/05 Bank-dividend - 1,000 -
2/1/06 Contra - 100 - 2/1/06 Bank-sold 12,000 - 7,44
Profit on sale - - 780 2/1/06 contra - - 100
30/6/06 Profit & loss - 1,400 - 1/2/06 Bank-dividend - 1,000 -
30/6/06 Balance c/f 8,000 333 450
20,000 2,333 12,047 20,000 2,333 12,0
InvestmentAccount-or dinary share Wawa Bhd
Date Particular Nom Income Cost Date Particular Nom Income Cost
15/7/05 Bank-Bought 2,000 - 8000 15/8/05 Bank - sold 1,250 - 50,0
15/8/05 Bonus 2,000 - - 1/3/06 Bank - dividend - 550 -
Profit on sale - - 2,500 30/06/06 2,750 - 5,50
30/6/06 Profit & loss - 550 -
4,000 550 10,500 4,000 550 10,5
InvestmentAccount-or dinary share MFW Bhd
Date Particular Nom Income Cost Date Particular Nom Income Cost
3/10/05 Bank-Bought 5,000 - 3,750 1/6/06 Bank-dividend - 1,500 -
1/4/06
Bank-right
issue 2,500 - 1,250 30/6/06 Balance c/f 7,500 - 5,00
30/6/06 Profit & loss - 1,500 -
7,500 1,500 5,000 7,500 1,500 5,00
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Note:
InvestmentAccount-10% Government Stock
Date Particular Calculation
01/07/2005 Bank bought cum 20,000 x 60.5% = 12,100
NIO- 20,000 x 10%x5/12= 833
11,267
01/08/2005 Bank -dividend 20,000 x 10% x 6/12 = 1000
02/01/2006 Bank Sold ex
Profit on sale
Sold EX: 12,000 x 62% = 7440
Control :12,000 x 10% x 1/12 = 100
Profit /loss = 11,267/20,000 x 12,000 = 12,000
= 6,760 vs 7,540
Profit =780
01/02/2006 Bank -dividend 20,000 x10%X 6/12 =1,000
30/06/2006 Profit & loss 2005 : 20,000 x 10% x 6/12 = 1,000
2006 : (20,000 12000) x 10%x6/12 = 8331,400
InvestmentAccount-ordinary share Wawa Bhd
Date Particular Calculation
15/07/2005 Bank Bought
ordinary share
4,000 x 0.50 = 2,000-Nom
8,000-Cost
15/08/2005 Bonus 2/2 x 4,000 = 4,000 unit
4,000 x 0.50 = 2,000-bonus
Bank-sold (o/s) 2,500 x 0.50 = 1,250-Nom
2,500 x 2.00 = 5,000-CostProfit on sold Profit / loss: 8,000 / 4,000 x 1250
= 2,500 vs 5,000
Profit =2,500
01/03/2006 Bank dividend (4,000-1250) x 20% =550
InvestmentAccount-or dinary share MFW Bhd
Date Particular Calculation
03/10/20065 Bank bough (o/s) 5,000 unit X 1.00= 5,000-nom
5,000 unit x 0.75= 3,750-cost
01/04/2006 Bank right issue ½ X 5,000 = 2,500 unit2,500 unit x 1 =2,500-nom
2,500 unit x 0.50 =1,250-cost
01/06/2006 Bank -dividend 20% x ( 5,000 x 2,500) = 1500