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Trial balance of GM as at 31 Dec 2021 Debit(RM) Credit(RM)
Sales 126,500
Purchases 99,850
Premises (cost) 100,000
Accum. depreciation at 1 Jan. 2021_Premises 25,000
Plant (cost) 18,000
Accum. depreciation at 1 Jan. 2021_Plant 2,300
Wages & salaries 8,900
Rent expense 7,500
Opening Inventories at 1 Jan. 2021 5,000
Capital at 1 Jan. 2021 80,000
Drawings 25,000
Carriage inwards 4,000
Account receivables & Account payables 27,500 16,000
Bad debts written off 5,000
Other revenue 2,000
Cash at bank 18,950
Bank loan 30,000
300,750 300,750
Add'l info at 31 Dec 2021:
i.Wages and salaries accrued amount to RM700.
ii. Rent prepaid amounts to RM300.
iii. Bank loan interest of 10 per cent per annum is outstanding.
iv. Provision for doubtful debt for account receivables of 2 per cent is to be made.
v. Depreciation to be charged at 2 per cent of cost on the premises and 10 per cent of cost on the plant.
vi.Closing inventories RM12,500
prepare Statement of Comprehensive Income for the year ended 31 Dec 2021
The population in countrv C decreases. due to a lower birth rate. At the same time, there is an increase in the
cost of fertilizer, which is used to grow vegetables. Explain how the market tor vegetables will be attected by
these changes. Clearly indicate how the equilibrium price and equilibrium quantity will be affected by these
changes. Make use or a combination or diagrams and verbal explanation to explain vour answer. Note that Vour
diagrams should be properly annotated and that marks will be deducted for any missing labels on our diagram.
Trial balance of GM as at 31 Dec 2021 Debit(RM) Credit(RM)
Sales 126,500
Purchases 99,850
Premises (cost) 100,000
Accum. depreciation at 1 Jan. 2021_Premises 25,000
Plant (cost) 18,000
Accum. depreciation at 1 Jan. 2021_Plant 2,300
Wages & salaries 8,900
Rent expense 7,500
Opening Inventories 1 Jan. 2021 5,000
Closing inventories 12,500.
Capital at 1 Jan. 2021 80,000
Drawings 25,000
Carriage inwards 4,000
Account receivables & Account payables 27,500 16,000
Bad debts written off 5,000
Other revenue 2,000
Cash at bank 18,950
Bank loan 30,000
300,750 300,750
Add'l info at 31 Dec 2021:
i.Wages and salaries accrued amount to RM700.
ii. Rent prepaid amounts to RM300.
iii. Bank loan interest of 10 per cent per annum is outstanding.
iv. Provision for doubtful debt for account receivables of 2 per cent is to be made.
v. Depreciation is to be charged at 2 per cent of cost on the premises and 10 per cent of cost on the plant.
prepare Statement of Comprehensive Income for the year ended 31 December 2021
In case of intoxicated drivers is goverment concerned about efficiency or equality?
Quantity larger than the equilibrium of supply and demand is inefficient for the marginal buyers willingness to pay is
Given the following market demand function for the commodity X Q=f(P,, P., P, I.T.A)
where
P= Price of the commodity X P= Price of a substitute commodity Y
P= Price of commodity Z which is complement of X
1 = Level of per captia income of consumers T=Tastes and preferences of consumers A = Advertising expenditure by a firm producing X
How will the market demand for a commodity change? (1) if price of the commodity X rises,
(ii) if price of the substitute good Y rises, (iii) if price of complementary commodity Z falls,
(iv) per capita income (I) of the consumers rises,
(v) the firm producing X increases its advertisement expenditure.
Explain in your own words what you understand by the following types of elasticity. Also write down whether the elasticity coefficient is positive or negative.
a. Cross-price elasticity for a substitute.
Explain in your own words what you understand by the following types of elasticity. Also write down the elasticity coefficient (value) for each type of elasticity.
b. Infinitely elastic or perfectly elastic demand
c. Completely or perfectly inelastic demand.
Refer to the IS-LM-BP model for an open economy
- Draw a diagram that typically illustrates the IS-LM-BP model, with the slope of the BP curve flatter than that of the LM curve. Label the axes properly and reflect equilibrium.
- How was the LM curve derived and defined, what does the slope of the curve depend on and what changes in what variables will shift the curve to the right?
- How was the I|S curve derived and defined, what does the slope of the curve depend on and what changes in what variables will shift to the curve?
- What does the BP curve reflect and what do points on, below and above the BP curve indicate?
The circular flow model for goods and services is where ________
1. the households sell their factors of production to the factor market where they are purchased by firms
2. firms consume goods and services offered on the goods market
3. firms combine factors of production and produce goods and services
4. goods and services are offered for sale on the factor market
a. Only 1.
b. Only 1 and 3.
c. Only 1, 3 and 4.
d. Only 4.
Which one of the following equations is true?
a. M3 = M1 + M2 + M3
b. M2 = M3 – M1
c. M = C + D
d. M1 = M3 – M2
