Name:

1. MUHAMMAD ALIF BIN MOHAMMAD ANUAR (AM2001006550)

2. NURELEENA SHAFINAZ BINTI ABDUL AZIZ (AM2001006510)

3. NURQAMARINA BINTI KHAIRUL HAFIZ (AM2001006546)

4. NORFARHANIM BINTI SAHIDAN (AM2001006479)

Lecture: Lab group / Tutorial group / Tutor (if

applicable)
MADAM ROHAYA BINTI KARIM

Course and Course Code : Submission Date:

FINANCIAL AND COST ACCOUNTING 7th JANUARY 2021

(MAC 2073)
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TABLE OF CONTENTS

1
No Contents Pages

1 Background of the business 3

2 Business transactions 4-5

3 General journal and special journal 6-11

4 Ledgers (receivable and payable ledgers) 12-18

5 Trial balance 19

2
PROFILE OF THE BUSINESS
1. NAME OF BUSINESS ASIA MOBILE RETAIL SDN BHD

2. NAME OF THE OWNER ADAM MIKAEL

3. ADDRESS LOT NO 23, Level G2, Publika NO.1, Jalan

Dutamas 1, 50480 Solaris Dutamas, Federal
Territory of Kuala Lumpur

4. TYPE OF BUSINESS PRIVATE LIMITED COMPANY

5. ACCOUNTING DURATION 1 YEAR

6. DURATION RECORD 1st JANUARY – 31st JANUARY 2020 (1 MONTH)

7. BUSINESS CAPITAL RM100 000

8. BUSINESS ACTIVITIES TRADING TELECOMMUNICATION EQUIPMENT

AND ACCESSORIES

3
The following are the business transaction in 1st January 2020:
Jan 1 Start business with capital worth of RM 100 000
2 Withdrawal of RM 5000 from bank for business uses
2 Bought goods on credit RM 10 000 from Ah Tan Industries
3 Sent a cheque to Ah Tan Industries and received a cash discount of 5%.
(payments to supplier plus cash discount)
5 Bought goods RM 2500 with cash
6 Sold goods on credit to Dot Associates for RM 15 000
8 Received cheque from Dot Associates after deducting 15% cash discount.
(payments by debtors plus cash discount)
9 Returned goods RM 500 from Dot Associates
9 Paid to Ah Tan Industries RM 5000 with a cheque
9 Bought display table on credit from Perabot Sdn. Bhd. amounted to RM 1 000
10 Sold goods on credit to Zakiah Enterprise amounted to RM 12 000
10 Payment by cheque from Zakiah Enterprise after deducting 10% cash discount.
(payments by debtors plus cash discount)
10 Bought goods on credit RM 7 500 from Ali Trading
10 Pay by cheque to Ali Trading and received 3% a cash discount.
(payments to supplier plus cash discount)
11 Sold goods on credit to Reka Resources for RM 11 500
12 Received cheque from Reka Resources after deducting 5% cash discount.
(payments by debtors plus cash discount)
13 Receive cash from Zakiah Enterprise for RM 1 000
14 Return goods of RM 1 000 to Ah Tan Industries
14 Return goods of RM 1 500 to Ali Trading
14 Sold goods through cheque RM 500
15 Return sales from Zakiah Enterprise for RM 250
15 Paid RM 1 000 cash to Perabot Sdn. Bhd.
15 Bought goods on credit RM 5 000 from Bobby Works
16 Sent a cheque to Bobby Works and received 2% cash discount.
(payments to supplier plus cash discount)
16 Paid carriage inward RM 100 by cheque

4
 17 Sold goods on credit to Azman Studios for RM 11 000
17 Return goods to Bobby Works for RM 500
19 The owner took cash RM 350 to pay his telephone bills (drawings of goods)
20 Goods sold for cash RM 250
21 Bought delivery van RM 10 000 on credit from Motor Jaya Sdn. Bhd.
23 Return sales from Azman Studios for RM100
23 Receive RM 2 000 cheque from Dot Associates
24 Receive RM 1 000 cash from Reka Resources
25 Received commission in cash RM 1 000
26 Paid rent with cheque RM 1 000
27 Paid electricity expenses through bank RM 500
28 The owner took out RM 1,500 cash for his wife birthday party celebrations.
(Drawing of goods)
30 Paid salaries and wages through bank RM 3 000

General Journal

5
Date Details P.Folio Debit (RM) Credit (RM)

6
Jan 1 Bank 100,000

Capital 100,000

Jan 2 Expenses 5,000

Bank 5000

Jan 2 Purchased 10,000

Ah Tan Industries 10,000

Jan 3 Ah Tan Industries 10,000

Cash 9,500

Cash discount 5% 500

Jan 5 Purchased 2,500

Cash 2,500

Jan 6 Dot Associate 15,000

Sales 15,000

Jan 8 Bank 12,750

Cash discount 15% 2,250

Dot Associate 15,000

Jan 9 Return inwards 500

Dot Associate 500

Jan 9 Ah Tan Industries 5,000

Bank 5,000

Jan 9 Purchases 1,000

Perabot Sdn Bhd 1,000

Jan 10 Zakiah Enterprise 12,000

Sales 12,000

Jan 10 Bank 10,800

Cash discount 10% 1,200

Zakiah Enterprise 12,000

7
Jan 10 Purchase 7,500

Ali Trading 7,500

Jan 10 Ali Trading 7,500

Bank 7,275

Cash discount 3% 225

Jan 11 Reka resources 11,500

Sales 11,500

Jan 12 Bank 10,925

Cash discount 5% 575

Reka Resouces 11,500

Jan 13 Cash 1,000

Zakiah Enterprise 1,000

Jan 14 Ah Tan enterprise 1,000

Return outwards 1,000

Jan 14 Ali trading 1,500

Return outwards 1,500

Jan 14 Bank 500

Sales 500

Jan 15 Return inwards 250

Zakiah enterprise 250

Jan 15 Perabot Sdn Bhd 1,000

Cash 1,000

Jan 15 Purchased 5,000

Bobby works 5,000

Jan 16 Bobby Works 5,000

Cash 4,900

Cash discount 2% 100

8
Jan 16 Carriage inwards 100

Bank 100

Jan 17 Azman Studios 11,000

Sale 11,000

Jan 17 Bobby Works 500

Return Outwards 500

Jan 19 Drawing 350

Cash 350

Jan 20 Sales 250

Cash 250

Jan 21 Motor Vehicle 10,000

Motor Jaya 10,000

Jan 23 Return Inwards 100

Azman Studios 100

Jan 23 Bank 2000

Dot Associate 2000

Jan 24 Cash 1,000

Reka Resource 1,000

Jan 25 Cash 1,000

Commission received 1,000

Jan 26 Rent expenses 1,000

Bank 1,000

Jan 27 Electricity expenses 500

Bank 500

Jan 28 Drawing 1,500

Cash 1,500

Jan 30 Salary Expenses 3,000

9
 Bank 3,000

SALES JOURNAL

Date Details Credit (Rm)

6/1 Dot Associates 15,000

10/1 Zakiah Enterprise 12,000

11/1 Reka Resources 11,500

17/1 Azman Studios 11,000

30/1 Total sales account 49,500

PURCHASES JOURNAL

Date Details Debit (Rm)

2/1 Ah Tang Industries 10,000

9/1 Perabot Sdn Bhd 1,000

10/1 Ali Trading 7,500

15/1 Bobby Works 5,000

21/1 Motor Jaya Sdn Bhd 10,000

30/1 Total purchase account 33,500

RETURN INWARDS JOURNAL

Date Details Debit (Rm)

9/1 Dot Associates 500

15/1 Zakiah Enterprise 250

23/1 Azman Studios 100

31/1 Transfer to Return inwards 850

account

RETURN OUTWARDS JOURNAL

10
 Date Details Credit (Rm)

141 Ah Tan Industries 1000

14/1 Ali Trading 1500

17/1 Bobby Works 500

31/1 Transfer to Return 12,000

outwards account

CASH RECEIPT JOURNAL

Date Details Cash (Rm) Bank Discount Others

Allowed
1/1 Capital 100,000 100,000
6/1 Dot 15,000 15,000
Associates
8/1 Dot 14,775 225 15,000
Associates
10/1 Zakiah 10,800 1,200 12,000
Enterprise
12/1 Reka 10,925 575 11,200
Resouce
13/1 Zakiah 1000 1000
Enterprise
17/1 Azman 11,000 11,000
Studios
20/1 Sales 250 250
24/1 Reka 1000 1000
Resource
25/1 Commission 1000 1000
Received
31/1
Transfer to 29,250 136,500 2,000 167,450
individual
account

CASH PAYMENT JOURNAL

11
 Date Details Cash (Rm) Bank Discount Others
Allowed
2/1 Ah Tan 10,000 10,000
Industries
3/1 Ah Tan 9,500 500 9,500
Industries
5/1 Expenses 2,500 2,500
6/1 Ah Tan 5000 5000
Industries
9/1 Perabot Sdn 1000 1000
Bhd
10/1 Ali Trading 7,500 7,500
10/1 Ali Trading 7275 225 7275
15/1 Bobby Works 5000 5000
15/1 Bobby Works 4900 100 4,900
16/1 Carriage 100 100
inwards
21/1 Motor Vehicle 10,000 10,000
26/1 Rent 1000 1000
Expenses
27/1 Electricity 500 500
Expenses
30/1 Salary And 3000 3000
Wages

Jan 31 Transfer to 2,500 64,775 825 67,275

individual
account

LEDGERS
Sales A/c

12
31/1 Bal c/d 50,250 6/1 Dot Associate (debtor 1) 15,000
10/1 Zakiah Enterprise (debtor 2) 12,000
11/1 Reka Resource (debtor 3) 11,500
14/1 Bank 500
17/1 Azman Studios (debtor) 11,000
20/1 Cash 250

1/2 Bal b/d 50,250

Purchase A/c

2/1 Ah Tan Industries (creditor 1) 10,000 31/1 Bal c/d 26,000

5/1 Cash 2,500
9/1 Perabot Sdn Bhd (creditor 2) 1,000
10/1 Ali trading (creditor 3) 7,500
15/1 Bobby Works (creditor 4) 5000

1/2 Bal b/d 26,000

Bank A/c

1/1 Capital 100,000 2/1 Capital 5,000

9/1 Ah Tan Industries 5,000 16/1 Carriage inwards 100
14/1 Sales 500 26/1 Rent 1,000
23/1 Dot Associate (debtor 1) 2,000 27/1 Electricity 500
30/1 Salaries and wages 3,000

31/1 Bal c/d 97,900

107,500 107,500
1/2 Bal b/d 97,900

Capital A/c

31/1 Bal c/d 100,000 1/1 Bank 100,000

13
 2/1 Bank 5,000

1/2 Bal b/d 100,000

Cash A/c

8/1 Dot Associated (debtor 1) 2,250 12,750 3/1 Ah Tan Industries (creditor 1) 9,500
10/1 Zakiah Enterprise (debtor 2) 10,800 5/1 Purchased 2,500
12/1 Reka Resources (debtor 3) 10,925 10/1 Ali Trading (creditor 3) 7,275
13/1 Zakiah Enterprise (debtor 2) 1,000 15/1 Perabot Sdn Bhd (creditor 2) 1,000
20/1 Sales 250 16/1 Bobby Works (creditor 4) 4,900
25/1 Commission received 1,000 19/1 Drawing 350
24/1 Reka Resources (debtor 3) 1,000
28/1 Drawing 1,500

31/1 Bal c/d 8,700

36,725 36,725
1/2 Bal b/d 8,700

Dot Associate – (Debtor 1) A/c

6/1 Sales 15,000 8/1 Cash 12,750

8/1 Discount allowed 2,250
9/1 Sales return 500
23/1 Bank 2,000
31/1 Bal c/d 2,500

1/2 Bal b/d 2,500

Zakiah Enterprise – (Debtor 2) A/c

10/1 Sales 12,000 10/1 Cash 10,800

14
 10/1 Discount allowed 1,200
13/1 Cash 1,000
15/1 Sales return 250
31/1 Bal c/d 1,250

1/2 Bal b/d 1,250

Reka Resources – (Debtor 3) A/c

11/1 Sales 11,500 12/1 Cash 10,925

24/1 Cash 1,000 12/1 Discount Allowed 575

31/1 Bal c/d 1,000

1/2 Bal b/d 1,000

Azman Studios – (Debtor 4) A/c

17/1 Sales 11,000 23/1 Return Sales 100

31/1 Bal c/d 10,900

1/2 Bal b/d 10,900

Ah Tan Industries – (Creditor 1) A/c

3/1 Cash 9500 2/1 Purchased 10,000

3/1 Discount received 500 9/1 Bank 5000
14/1 Purchase return 1000

31/1 Bal c/d 4,000

1/2 Bal b/d 4,000

Perabot Sdn Bhd – (Creditor 2) A/c

15/1 Cash 1000 9/1 Purchased 1000

15
 Ali Trading – (Creditor 3) A/c

10/1 Cash 7275 10/1 Purchased 7,500

10/1 Discount received 225
14/1 Return Purchases 1,500

31/1 Bal c/d 1,500

1/2 Bal b/d 1,500

Bobby Works – (Creditor 4) A/c

16/1 Cash 4,900 15/1 Purchased 5,000

16/1 Discount received 100
17/1 Purchase return 500
31/1 Bal c/d 500

1/2 Bal b/d 500

Motor Jaya – (Creditor 5) A/c

31/1 Bal c/d 10,000 21/1 motor vehicle 10,000

1/2 Bal b/d 10,000

Discount Received A/c

31/1 Bal c/d 825 3/1 Ah Tan Industries (creditor 1) 500

16
 10/1 Ali Trading (creditor 3) 225
16/1 Bobby Works 100

1/2 Bal b/d 825

Discount Allowed A/c

8/1 Dot Associate (debtor 1) 2,250 31/1 Bal c/d 4,025

10/1 Zakiah Enterprise (debtor2) 1,200
12/1 Reka Resources (debtor 3) 575

1/2 Bal b/d 4,025

Sales Return A/c

9/1 Dot Associate (debtor 1) 500 31/1 Bal c/d 850

15/1 Zakiah Enterprise (debtor 2) 250
23/1 Azman Studios 100

1/2 Bal b/d 850

Purchased Return A/c

31/1 Bal c/d 3,000 14/1 Ah Tan Industries (creditor 1) 1,000

14/1 Ali Trading (creditor 3) 1,500

17
 17/1 Bobby Works 500

1/2 Bal b/d 3,000

Carriage inwards A/c

16/1 Bank 100 31/1 Bal c/d 100

1/2 Bal b/d 100

Drawing A/c

19/1 Cash 350 31/1 Bal c/d 1,850

28/1 Cash 1,500

1/2 Bal b/d 1,850

Motor vehicle A/c

21/1 Motor Jaya 10,000 31/1 Bal c/d 10,000

1/2 Bal b/d 10,000

Commission Received A/c

31/1 Bal c/d 1,000 25/1 Cash 1,000

1/2 Bal b/d 1,000

Rent A/c

26/1 Bank 1,000 31/1 Bal c/d 1,000

18
1/2 Bal b/d 1,000

Electricity A/c

27/1 Bank 500 31/1 Bal c/d 500

1/2 Bal b/d 500

Salary A/c

30/1 Bank 3,000 31/1 Bal c/d 3,000

1/2 Bal b/d 3,000

Other Expenses A/c

2/1 Bank 5,000 31/1 Bal c/d 5,000

1/2 Bal b/d 5,000

TRIAL BALANCE

Asia Mobile Retail Sdn Bhd

Trial balance as at 31 January 2020

19
 Debit (rm) Credit (rm)
Sales 50,250
Purchase 36,000
Bank 94,100
Capital 100,000
Cash 8700
Dot Associate – (Debtor 1) 2500
Zakiah Enterprise – (Debtor 2) 1250
Reka Resources – (Debtor 3) 1,000
Azman Studios – (Debtor 4) 10,900
Ah Tan Industries – (Creditor 1) 4,000
Perabot Sdn Bhd – (Creditor 2) -
Ali Trading – (Creditor 3) 1500
Bobby Works – (Creditor 4) 500
Motor Jaya – (Creditor 5) 10,000
Discount Received 825
Discount Allowed 4,025
Sales Return 850
Purchased Return 3000
Carriage inwards 100
Drawing 1,850
Motor vehicle 10,000
Commission Received 1,000
Rent 1,000
Electricity 500
Salary 3,000
Other Expenses 5,000

172,825 172,825

20