FACULTY OF BUSINESS AND MANAGEMENT

UNIVERSITI TEKNOLOGI MARA CAWANGAN KEDAH

INTRODUCTION TO
FINANCIAL ACCOUNTING AND REPORTING
(ACC106)

ASSIGNMENT:
GROUP PROJECT

PREPARED BY:
LIYA NATASHA BINTI ABDUL RASID (2018659362)
NUR SHAHIZYANIE BINTI MOHD YUSOF (2018406022)
NURUL FARHANA NABIHA BINTI AZMI (2018241432)

PREPARED FOR:
MISS HIDAYAH BINTI WAAD

GROUP:
KBA1185F

DATE:
14 JANUARY 2021
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TABLE OF CONTENTS

Table of Content ii

1.0 Introduction 3

2.0 Transaction 4-5

2.1 Type of Transaction 4

2.2 Transaction for 1 Month 4-5

3.0 Journal 6-7

3.1 General Journal 6

3.2 Purchases Journal 6

3.3 Sales Journal 6

3.4 Purchases Return Journal 6

3.5 Sales Return Journal 7

3.6 Cash Receipt Journal 7

3.7 Cash Payment Journal 7

4.0 Ledger 8-14

4.1 General Ledger 8-10

4.2 Purchases Ledger 11-12

4.3 Sales Ledger 13-14

5.0 Trial Balance 15

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1.0 INTRODUCTION

The business is owned by Yanie and her best friends, Farhana and Liya.
Business Name YFL Bakery

Place of the Business Bandar Baru Perda, Bukit Mertajam

Business Activities Bakery Shop which sells flour-based food baked e.g.

• Breads

• Cookies

• Cakes

• Pastries

• Pies

Capital Contribution Cash: RM10,000

Premises: RM300,000

Financial Year End 1 March 2020 – 28 February 2021

Statement of the Month

Financial Transaction March 2020

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2.0 TRANSACTION

2.1 Type of transaction:

General Journal: 3 transactions

Purchases Journal: 3 transactions
Purchases Return Journal: 3 transactions
Sales Journal: 3 transactions
Sales Return Journal: 3 transactions
Cash Receipt Journal: 6 transactions
Cash Payment Journal: 6 transactions

2.2 Transaction for 1 Month

Below are the transactions of YFL Bakery for the month of March 2020:

Date Transactions Journals

(March)
1 The owner brought cash into the business amount General Journal
RM10,000 and premises RM300,000. Cash Receipt Journal
2 The owner bought a set of computer on credit General Journal
worth RM 2,000 from Ministor Computer.
3 Bought goods from Eazy Bake Supplies on credit Purchases Journal
amounts RM 5,000.
4 Receive a loan of RM 100,000 from Public Bank Cash Receipt Journal
by cheque.
5 Cash sales worth RM1500 from Hafiz Café. Cash Receipt Journal
7 A motorcycle value at RM9,000 was purchased by
cheque from Mat Not Belon Workshop for Cash Payment Journal
business use.
8 Sold goods worth RM9,500 on credit to Zie’s Sales Journal
Bakery.
9 Paid electricity and water bill by cash RM400. Cash Payment Journal
10 Returned goods to Eazy Bake Supplies RM580 Purchases Return Journal
due to damaged goods.
13 The owner took 2 red velvet cakes worth RM290 General Journal
for her anniversary celebration.
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14 Received a debit noted RM150 from Zie’s Bakery Sales Return Journal
because of damaged goods.
16 Received full payment from Zie’s Bakery amount Cash Receipt Journal
RM 9,350 by cash.
17 Purchased 10 boxes of flour worth RM150 each Purchases Journal
box on credit from May Bakery Food Supply.
18 Paid full payment owed to Eazy Bake Supplies by Cash Payment Journal
cheque RM 4,420.
19 Withdrawal of RM200 from bank for owner’s Cash Payment Journal
daughter birthday present.
20 Sold goods worth RM1,000 on credit to Warung Sales Journal
Kek Ringo.
21 Return goods to May Bakery Food Supply worth Purchases Return Journal
RM300.
22 Sales returned by Warung Kek Ringo which Sales Return Journal
amounted to RM120.
23 Purchased goods on credit from Sweet Baking & Purchases Journal
Pastry Ingredients Supplier worth RM 6,000.
24 Due to damage of goods, returned to Sweet Purchases Return Journal
Baking & Pastry Ingredient Supplier worth RM890
25 Received full payment owed by Warung Kek Cash Receipt Journal
Ringo by cheque amount RM 880.
26 Sold goods on credit to Farhana worth RM4,500 Sales Journal
27 Paid full payment to Sweet Baking Pastry Cash Payment Journal
Ingredients Supplier worth RM 5,110 by cheque.
28 Paid salary to workers RM2400 by cheque. Cash Payment Journal
29 Sales return by Farhana worth RM200. Sales Return Journal
31 Receive rental worth RM 11,000 by cheque. Cash Receipt Journal
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3.0 JOURNAL

3.1 General Journal

March Debit Credit

2020 Details (RM) (RM)
1 Premises 300,000
Capital 300,000
(Owner brought capital into business)
2 Computer 2,000
Account Payable-Ministor Computer 2,000
(Purchase computer on credit)
13 Drawing 290
Purchases 290
(Owner took goods for anniversary celebration)

3.2 Purchases Journal

March Particulars Amount

2020 (RM)
3 Acc Payable - Eazy Bake Supplies 5,000
17 Acc Payable - May Bakery Food Supply 1,500
23 Acc Payable - Sweet Baking & Pastry Ingredient Supplier 6,000
Transferred to Purchase a/c 12,500

3.3 Sales Journal

March Particulars Amount

2020 (RM)
8 Acc Receivable - Zie’s Bakery 9,500
20 Acc Receivable - Warung Kek Ringo 1,000
26 Acc Receivable - Farhana 4,500
Total transferred to Sales a/c 15,000

3.4 Purchases Return Journal

March Particulars Amount

2020 (RM)
10 Acc Payable - Eazy Bake Supplies 580
21 Acc Payable - May Bakery Food Supply 300
24 Acc Payable - Sweet Baking & Pastry Ingredient Supplier 890
Total transferred to Purchases Return a/c 1,770
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3.5 Sales Return Journal

March Particulars Amount

2020 (RM)
14 Acc Receivable - Zie’s Bakery 150
22 Acc Receivable - Warung Kek Ringo 120
29 Acc Receivable - Farhana 200
Total transferred to Sales Return A/c 470

3.6 Cash Receipt Journal

March Accounts Cash Bank Account Sales Other

2020 credited Dr Dr Receivable Cr Accounts
Cr Cr
1 Capital 10,000 10,000
4 Loan Public Bank 100,000 100,000
5 Sales 1,500 1,500
16 Zie’s Bakery 9,350 9,350
25 Warung Kek Ringo 880 880
31 Rental 11,000 11,000
Total 20,850 111,880 10,230 1,500 121,000

3.7 Cash Payment Journal

March Accounts Cash Bank Account Purchas Other

2020 debited Cr Cr Payable es Accounts
Dr Dr Dr
7 Motorcycle 9,000 9,000
9 Utilities bills 400 400
18 Eazy Bake 4,420 4,420
Supplies
19 Drawing 200 200
27 Sweet Baking & 5,110 5,110
Pastry Ingredients
Supplies
28 Salaries 2,400 2,400
Total 400 21,130 9,530 12,000
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4.0 LEDGER

4.1 General Ledger

Premises A/c
Date Particular RM Date Particular RM
2020 2020
March 1 Capital 300,000 March 31 Balance c/d 300,000
300,000 300,000
April 1 Balance b/d 300,000

Capital A/c
Date Particular RM Date Particular RM
2020 2020
March 31 Balance c/d 310,000 March 1 Premises 300,000
Cash 10,000
310,000 310,000
April 1 Balance b/d 310,000

Cash A/c
Date Particular RM Date Particular RM
2020 2020
March 1 Capital 10,000 March 9 Electricity and water 400
5 Sales 1,500
16 Zie’s Bakery 9,350 March 31 Balance c/d 20,450
20,850 20,850
April 1 Balance b/d 20,450

Computer A/c
Date Particular RM Date Particular RM
2020 2020
March 2 Account Payable- 2,000 March31 Balance c/d 2,000
Ministor Computer
2,000 2,000
Balance b/d 2,000
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Bank A/c
Date Particular RM Date Particular RM
2020 2020
March 4 Loan – Public Bank 100,000 March 7 Motorcycle 9,000
25 Account Receivable- 880 18 Account Payable- 4,420
Warung Kek Ringo Eazy Bake Supplies
31 Rental received 11,000 19 Drawing 200
27 Account Payable-Sweet 5,110
Baking & Pastry
Ingredient Suplier
28 Salaries 2,400
Balance c/d 90,750
111,880 111,880
April 1 Balance b/d 90,750

Motorcycle A/c
Date Particular RM Date Particular RM
2020 2020
March 7 Bank 9,000 March 31 Balance c/d 9,000
9,000 9,000
April 1 Balance b/d 9,000

Loan – Public Bank A/c

Date Particular RM Date Particular RM
2020 2020
March 31 Balance c/d 100,000 March 4 Bank 100,000
100,000 100,000
April 1 Balance b/d 100,000

Electricity & Water A/c

Date Particular RM Date Particular RM
2020 2020
March 9 Cash 400 March 31 Balance c/d 400
400 400
April 1 Balance b/d 400

Salaries A/c
Date Particular RM Date Particular RM
2020 2020
March 8 Bank 2,400 March 31 Balance c/d 2,400
2,400 2,400
April 1 Balance b/d 2,400
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Drawing A/c
Date Particular RM Date Particular RM
2020 2020
March 13 Purchases 290 March 31 Balance c/d 490
19 Bank 200
490 490
April 1 Balance b/d 490

Rental Receive a/c

Date Particular RM Date Particular RM
2020 2020
March 31 Balance c/d 11,000 March 31 Bank 11,000
11,000 11,000
April 1 Balance b/d 11,000
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4.2 Purchases Ledger

Purchases A/c
Date Particular RM Date Particular RM
2020 2020
March 3 Account Payable- 5,000 March 13 Drawing 290
Eazy Bake Supplies
17 Account Payable- May 1,500
Bakery Food Supply
23 Account Payable – 6,000 March 31 Balance c/d 12,210
Sweet Baking & Pastry
Ingredient Supplier
12,500 12,500
April 1 Balance b/d 12,210

Account Payable – Ministor Computer

Date Particular RM Date Particular RM
2020 2020
March 31 Balance c/d 2,000 March 2 Computer 2,000
2,000 2,000
April 1 Balance b/d 2,000

Account Payable – Eazy Bake Supplies

Date Particular RM Date Particular RM
2020 2020
March 10 Return outward 580 March 3 Purchases 5,000
18 Bank 4,420
5,000 5,000

Account Payable – Sweet Baking & Pastry Ingredient Supplier

Date Particular RM Date Particular RM
2020 2020
March 24 Return outward 890 March 23 Purchases 6,000
27 Bank 5.110
6,000 6,000
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Return Outward A/c

Date Particular RM Date Particular RM
2020 2020
March 31 Balance c/d 1,770 March 10 Account Payable- 580
Eazy Bake Supplies
21 Account Payable- May 300
Bakery Food Supply
24 Account Payable- 890
Sweet Baking & Pastry
Ingredient Supplier
1,770 1,770
April 1 Balance b/d 1,770

Account Payable- May Bakery Food Supply

Date Particular RM Date Particular RM
2020 2020
March 21 Return outward 300 March 17 Purchases 1,500
31 Balance c/d 1,200
1,500 1,500
Balance b/d 1,200
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4.3 Sales Ledger

Sales A/c
Date Particular RM Date Particular RM
2020 2020
March 31 Balance c/d 16,500 March 5 Cash 1,500
8 Account Receivable- 9,500
Zie’s Bakery
20 Account Receivable- 1,000
Warung Kek Ringo
26 Account Receivable- 4,500
Farhana
16,500 16,500
April 1 Balance b/d 16,500

Account Receivable- Warung Kek Ringo A/c

Date Particular RM Date Particular RM
2020 2020
March 20 Sales 1,000 March 22 Return inward 120
25 Cash 880
1,000 1,000

Account Receivable- Zie’s Bakery A/c

Date Particular RM Date Particular RM
2020 2020
March 8 Sales 9,500 March 14 Return inward 150
16 Cash 9,350
9,500 9,500

Account Receivable- Farhana A/c

Date Particular RM Date Particular RM
2020 2020
March 26 Sales 4,500 March 29 Return inward 200
31 Balance c/d 4,300
4,500 4,500
April 1 Balance b/d 4,300
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Return Inward A/c

Date Particular RM Date Particular RM
2020 2020
March 14 Account Receivable- 150 March 31 Balance c/d 470
Zie’s Bakery
22 Account Receivable- 120
Warung Kek Ringo
29 Account Receivable- 200
Farhana
470 470
April 1 Balance b/d 470
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5.0 TRIAL BALANCE

YFL Bakery
Trial Balance as at 31 March 2020
Account Debit (RM) Credit (RM)
Premises 300,000
Cash 20,450
Bank 90,750
Computer 2,000
Motorcycle 9,000
Electricity & water expenses 400
Salaries 2,400
Drawing 490
Purchases 12,210
Account Receivable - Farhana 4,300
Return Inward 470
Return Outward 1,770
Capital 310,000
Loan – Public Bank 100,000
Rental received 11,000
Account Payable - Ministor Computer 2,000
- May Bakery Food Supply 1,200
Sales 16,500
442,470 442,470