IreneChung

Q.Alex, a sole trader, extracted the following trial balance from his books of account at the close of business on 31 March 2010.Particulars ——————– Debit (Dr) (RM) ——–Credit (Cr) (RM)Purchases […]

Q.a) A machine costs RM8,000. It was kept for five years, then sold for RM2,400. Show the calculations of the figures for depreciation for each year for five years using:-i) The Straight Line Methodii) The […]

Q.A business started trading on 01 January, 2009. During the two years ended 31 December 2009 and 2010, the following debts were written off to the Bad Debts Account on the dates stated:-Date ———– Debtor […]

Q.a) Differentiate between:Capital expenditure and revenue expenditure.Fixed assets and current assets.(10 marks, 2011 5a)b) Indicate which of the following would be revenue items and which would be capital […]

Q.Mr. Juwara a petty cash officer, maintains a petty cash book based on the imprest system. The cash float is RM200.During the month of March 2010, the following transactions took place:-March 1.   A cheque for […]

Q.Complete the following table showing which items are to be credited and which are to be debited.Goods bought, cash being paid immediately.Goods sold on credit to Jamie.Goods bought on credit from Hanle.Goods […]

Q.a) You are required to complete the columns in the following table:-No. ———–Assets(RM) ——–Liabilities (RM) ——–Capital (RM)1. —————–8,000 ——————-3,000 […]

Q.Explain briefly the four stages of accounting.(12 marks, 2011 1b)A.Broadly speaking, there are four steps, or phases, which take place in accounting. These are:• Identification and Record• Sorting and Cla […]

Q.
a) There are many users which have an interest in the financial statements of a business. List 4 of these users of accounting information and explain their reasons for using the accounting information. (8 […]

Q. In simple chart form, explain how GST is going to affect a man on the street?A. A good illustration is provided by LoanStreet.com.my.http://loanstreet.com.my/learning-centre/GST-In-Malaysia-ExplainedGST In […]

Q. How GST is going to affect taxation of properties?A. A good link to read from LoanStreet.com.myhttp://loanstreet.com.my/learning-centre/How-GST-Will-Impact-Home-Prices-&-The-Property-MarketHow GST Will Impact […]

Maintenance of a building (Part II) 
08/06/2007 The Sun LAW & REALTY By Andrew Wong Fook Hin

…before management corporation is formed – Part 2

IN Part 1 (last week), we examined provisions in the Buil […]

Maintenance of a building 

01/06/2007 The Sun  LAW & REALTY By Andrew Wong Fook Hin

…before management corporation is formed – Part 1, Part 2 here.

ON April 12, the Building & Common Property (Ma […]

Q.List out the 10 principles of Economics by Mankiw.A.The list below as extracted from Mankiw (2012) ‘Principles of Economics’.Ref:Mankiw, N. Gregory. 2012. Principles of Economics, 6Ed. South-Western Cengage L […]

Q.What is the most significant of ‘the invisible hand’ by Adam Smith?A.The free market economy is fueled by the ‘invisible hand’ and demand and supply is determined by the mass public. Hence, price is not control […]

Q.
What are the different types of caveats?

A.
Registrar’s Caveat
A Registrar’s caveat is entered by the Registrar on the register document of title (RDT). So long as the caveat is in force no dealing may […]

Q.
What is a prohibitory order?

A.
According to section 334 of the NLC, ‘prohibitory order’ means, where land or interest in land held by a judgement-debtor is to be sold in execution proceedings, an ord […]

Q.
What is a caveat? What are the different caveats under the NLC?

A.
A caveat is an entry in the Register Document of Title (RDT) to any land made by Registrar of Title (RT) / Land Administrator (LA) on his […]

Q.
What are the common instruments of dealings?

A.
According to section 206(1) NLC provides that every dealing shall be effected by the relevant instrument prescribed for that purpose and must be properly […]

Q.
What is ‘lien”?

A.
First of all, a lien is not a registerable dealing.

Under section 281(1) of the NLC, it can be created in respect of any alienated land or any lease or sub-lease of alienated land. A […]