ACC106

INTRODUCTION TO FINANCIAL ACCOUNTING & REPORTING

GROUP ASSIGNMENT

LECTURE’S NAME:

NORLAILY ASNAWI BT SULAIMAN

PREPARED BY:

NAME STUDENT ID CLASS

ANEESAH BINTI MEOH HADI

2020650976 BA1191C
RAZI
NURSHAZWANI BINTI ABD
2020870678 BA1191C
GHANI

1
 COMPANY BACKGROUND
Our Company name is NW Bundle Trading and located at Lot 41A, Jalan Selayang 2, Batu
Caves, 48000, Gombak, Selangor. NW Bundle Trading is selling used shoes. We started the
business on 1 January 2020, we also started the business with cash at RM10 000, cash at bank
RM30 000 and also brought in office equipment RM10 000. Our Financial year end on 31
December 2020. The following business transaction is for the month of January

LIST OF TRANSACTION FOR 1 MONTH

DATE BUSINESS BOOK OF JOURNAL ENTRIES

(JAN 2020) TRANSACTION PRIME ENTRY DEBIT (RM) CREDIT (RM)
1 Started the business with cash at General Journal Office equipment Capital 50 000
hand RM10 000, cash at bank Cash Receipt 10 000
RM30 000 and brought in office Journal Cash 10 000
equipment worth RM10 000. Bank 30 000

2 Purchased goods RM8400 on Purchase Purchase 8400 Creditor - Tripple

credit from Tripple Sdn. Bhd. Journal Sdn. Bhd. 8400
3 Paid for stationary RM300 by Cash Payment Stationary 300 Cash 300
cash Journal
4 Cash Sales to Ain worth RM1000 Cash Receipt Cash 1000 Sales 1000
by cash Journal
5 Sold goods on credit to Balqis Sales Journal Debtor – Balqis Sales 950
worth RM950. 950
6 Purchased goods on credit from Purchase Purchase 1050 Creditor - AC
AC Enterprise amounted RM1050 Journal Enterprise 1050
7 Returned faulty goods worth Purchase Creditor - Tripple Purchase Return
RM600 to Tripple Sdn. Bhd. Return Journal Sdn. Bhd. 600 600
8 Returned goods to AC Enterprise Purchase Creditor - AC Purchase Return
amounted RM400 Return Journal Enterprise 400 400
9 Paid salary to worker RM1500 in Cash Payment Salary 1500 Cash 1500
cash Journal
10 Paid carriage outwards RM450 by Cash Payment Carriage outwards Cash 450
cash Journal 450
11 Received commission income by Cash Receipt Bank 1000 Commission
cheque RM1000 Journal Received 1000
12 Owner took goods RM500 for General Journal Drawing 500 Purchase 500
personal use
13 Sold goods worth RM1500 on Sales Journal Debtor - Pickers Sales 1500
credit to Pickers Enterprise Enterprise 1500
14 Purchased goods on credit from Purchase Purchase 4000 Creditor - Iris
Iris Enterprise RM4000 Journal Enterprise 4000
15 Balqis returned damage goods Sales Return Sales Return 150 Debtor - Balqis
RM150 Journal 150

2
16 Pickers Enterprise returned Sales Return Sales Return 200 Debtor - Pickers
damage goods RM200 Journal Enterprise 200
17 Purchased furniture RM9000 on General Journal Furniture 9000 Creditor - Kayu
credit from Kayu Trading Trading 9000
18 Received cheque from Balqis Cash Receipt Bank 800 Debtor - Balqis
RM800 for settlement of the debt Journal 800
19 Paid electricity bills RM900 by Cash Payment Electricity Bills 900 Bank 900
cheque Journal
20 Returned goods worth RM1000 to Purchase Creditor - Iris Purchase Return
Iris Enterprise Return Journal Enterprise 1000 1000
21 The owner paid his daughter’s Cash Payment Drawing 350 Bank 350
school fees using business Journal
cheque RM350
22 Sold goods on credit to Anis Sales Journal Debtor - Anis 480 Sales 480
RM480
23 Sold goods on credit to Aqil Sales Journal Debtor – Aqil 300 Sales 300
RM300
24 Paid Iris Enterprise by cheque for Cash Payment Creditor - Iris Bank 3000
the amount owing RM3000 Journal Enterprise 3000
25 Anis returned faulty goods RM80 Sales Return Sales Return 80 Debtor - Anis 80
Journal
26 Sold goods for cash to ABC Cash Receipt Cash 500 Sales 500
Enterprise RM500 Journal
27 Cash sales to Ramona worth Cash Receipt Cash 200 Sales 200
RM200 Journal

3
 BOOK OF PRIME ENTRY

GENERAL JOURNAL
DATE
DETAILS DEBIT (RM) CREDIT (RM)
(JAN 2020)
Office equipment
1 Capital 10 000 10 000
(Brought in office equipment into the business)
Drawing
12 Purchase 500 500
(Owner took goods for personal use)
Furniture
17 Creditor – Kayu Trading 9000 9000
(Purchased furniture on credit)
TOTAL 19 500 19 500

PURCHASE JOURNAL
DATE DETAILS AMOUNT (RM)
(JAN 2020)
2 Tripple Sdn. Bhd. 8400
6 AC Enterprise 1050
14 Iris Enterprise 4000
Transferred to Purchase account 13 450

SALES JOURNAL
DATE DETAILS AMOUNT (RM)
(JAN 2020)
5 Balqis 950
13 Pickers Enterprise 1500
22 Anis 480
23 Aqil 300
Transferred to Sales account 3230

4
 PURCHASE RETURN JOURNAL
DATE DETAILS AMOUNT (RM)
(JAN 2020)
7 Tripple Sdn. Bhd. 600
8 AC Enterprise 400
20 Iris Enterprise 1000
Transferred to Purchase Return account 2000

SALES RETURN JOURNAL

DATE DETAILS AMOUNT (RM)
(JAN 2020)
15 Balqis 150
16 Pickers Enterprise 200
25 Anis 80
Transferred to Sales Return account 430

CASH RECEIPT JOURNAL

DATE DETAILS CASH BANK DISCOUNT ACC. SALES OTHER
(JAN 2020) (RM) (RM) ALLOWED RECEIVABLES ACC.
1 Capital 10 000 30 000 40 000
4 Sales 1000 1000
11 Commission 1000 1000
Received
18 Balqis 800 800
26 Sales 500 500
27 Sales 200 200
TOTAL 11 700 31 800 0 800 1700 41 000

CASH PAYMENT JOURNAL

DATE DETAILS CASH BANK (RM) DISCOUNT ACC. PURCHASE OTHER
(JAN 2020) (RM) RECEIVED PAYABLES ACC.
3 Stationary 300 300
9 Salary 1500 1500
10 Carriage 450 450
Outwards
19 Electricity bills 900 900
24 Iris 3000 3000
Entertainment
TOTAL 2250 3900 0 3000 0 3150

5
 LEDGERS

CAPITAL

DATE PARTICULARS RM DATE PARTICULARS RM

Jan 31 Balance c/d 50 000 Jan 1 Office equipment 10 000
Cash 10 000
Bank 30 000

50 000 50 000

Feb 1 Balance b/d 50 000

OFFICE EQUIPMENT
DATE PARTICULARS RM DATE PARTICULARS RM
Jan 1 Capital 10 000 Jan 31 Balance c/d 10 000

10 000 10 000
Feb 1 Balance b/d 10 000

CASH
DATE PARTICULARS RM DATE PARTICULARS RM
Jan 1 Capital 10 000 Jan 3 Stationery 300
4 Sales 1000 9 Salary 1500
26 Sales 500 10 Carriage outwards 450
27 Sales 200 31 Balance c/d 9450

11 700 11 700
Feb 1 Balance b/d 9450

6
 BANK

DATE PARTICULARS RM DATE PARTICULARS RM

Jan 1 Capital 30 000 Jan 19 Electricity bills 900
11 Commission received 1000 21 Drawing 350
18 Debtor ( Balqis ) 800 24 Creditor ( Iris Enterprise ) 3000
31 Balance c/d 27 550
31 800 31 800
Feb 1 Balance b/d 27 550

PURCHASE

DATE PARTICULARS RM DATE PARTICULARS RM

Jan 31 Total purchase 13 450 Jan 12 Drawing 500
31 Balance c/d 12 950
13 450 13 450
Feb 1 Balance b/d 12 950

CREDITOR ( TRIPPLE SDN BHD )

DATE PARTICULARS RM DATE PARTICULARS RM

Jan 7 Purchase return 600 Jan 2 Purchase 8400
31 Balance c/d 7800
8400 8400
Feb 1 Balance b/d 7800

STATIONERY

DATE PARTICULARS RM DATE PARTICULARS RM

Jan 3 Cash 300 Jan 31 Balance c/d 300

300 300
Feb 1 Balance b/d 300

7
 SALES

DATE PARTICULARS RM DATE PARTICULARS RM

Jan 31 Balance c/d 4930 Jan 4 Cash 1000
26 Cash 500
27 Cash 200
31 Total sales 3230
4930 4930
Feb 1 Balance b/d 4930

DEBTOR ( BALQIS )

DATE PARTICULARS RM DATE PARTICULARS RM

Jan 5 Sales 950 Jan 15 Sales return 150
18 Bank 800
950 950

CREDITOR ( AC ENTERPRISE )

DATE PARTICULARS RM DATE PARTICULARS RM

Jan 8 Purchase return 400 Jan 6 Purchase 1050
31 Balance c/d 650
1050 1050
Feb 1 Balance b/d 650

PURCHASE RETURN

DATE PARTICULARS RM DATE PARTICULARS RM

Jan 31 Balance c/d 2000 Jan 31 Total purchase return 2000

2000 2000
Feb 1 Balance b/d 2000

8
 SALARY

DATE PARTICULARS RM DATE PARTICULARS RM

Jan 9 Cash 1500 Jan 31 Balance c/d 1500

1500 1500
Feb 1 Balance b/d 1500

CARRIAGE OUTWARDS

DATE PARTICULARS RM DATE PARTICULARS RM

Jan 10 Cash 450 Jan 31 Balance c/d 450

450 450
Feb 1 Balance b/d 450

COMMISSION RECEIVED

DATE PARTICULARS RM DATE PARTICULARS RM

Jan 31 Balance c/d 1000 Jan 11 Bank 1000

1000 1000
Feb 1 Balance b/d 1000

DRAWING

DATE PARTICULARS RM DATE PARTICULARS RM

Jan 12 Purchase 500 Jan 31 Balance c/d 850
21 Bank 350
850 850
Feb 1 Balance b/d 850

9
 DEBTOR ( PICKERS ENTERPRISE )

DATE PARTICULARS RM DATE PARTICULARS RM

Jan 13 Sales 1500 Jan 16 Sales return 200
31 Balance c/d 1300
1500 1500
Feb 1 Balance b/d 1300

CREDITOR ( IRIS ENTERPRISE )

DATE PARTICULARS RM DATE PARTICULARS RM

Jan 20 Purchase return 1000 Jan 14 Purchase 4000
24 Bank 3000
4000 4000

SALES RETURN
DATE PARTICULARS RM DATE PARTICULARS RM
Jan 31 Total sales return 430 Jan 31 Balance c/d 430

430 430
Feb 1 Balance b/d 430

FURNITURE
DATE PARTICULARS RM DATE PARTICULARS RM
Jan 17 Creditor ( Kayu Trading ) 9000 Jan 31 Balance c/d 9000

9000 9000
Feb 1 Balance b/d 9000

10
 CREDITOR ( KAYU TRADING )

DATE PARTICULARS RM DATE PARTICULARS RM

Jan 31 Balance c/d 9000 Jan 17 Furniture 9000
9000 9000
Feb 1 Balance b/d 9000

ELECTRICITY BILLS

DATE PARTICULARS RM DATE PARTICULARS RM

Jan 19 Bank 900 Jan 31 Balance c/d 900
900 900
Feb 1 Balance b/d 900

DEBTOR ( ANIS )

DATE PARTICULARS RM DATE PARTICULARS RM

Jan 22 Sales 480 Jan 25 Sales return 80
31 Balance c/d 400
480 480
Feb 1 Balance b/d 400

DEBTOR ( AQIL )

DATE PARTICULARS RM DATE PARTICULARS RM

Jan 23 Sales 300 Jan 31 Balance c/d 300
300 300
Feb 1 Balance b/d 300

11
 NW BUNDLE TRADING
Trial Balance as at 31 January 2020

ACCOUNTS DEBIT ( RM ) CREDIT ( RM )

Capital 50 000
Office equipment 10 000
Cash 9450
Bank 27 550
Purchase 12 950
Creditor ( Tripple Sdn Bhd ) 7800
Stationery 300
Sales 4930
Creditor ( AC Enterprise ) 650
Purchase return 2000
Salary 1500
Carriage outwards 450
Commission received 1000
Drawing 850
Debtor ( Pickers Enterprise ) 1300
Sales return 430
Furniture 9000
Creditor ( Kayu Trading ) 9000
Electricity bills 900
Debtor ( Anis ) 400
Debtor ( Aqil ) 300
TOTAL 75 380 75 380

12