Faculty of Business Management

COMPREHENSIVE PROJECT
INTRODUCTION TO ACCOUNTING (ACC030)

PRE-DIPLOMA (COMMERCE)
BA002/003

Semester March – August 2023

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 TABLE OF CONTENT

Page

1.0 INTRODUCTION 3

2.0 ACCOUNTING CYCLE 4

3.0 INSTRUCTIONS FOR THE COMPREHENSIVE PROJECT 4

4.0 APPENDIX: BUSINESS TRANSACTIONS 5

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1.0 INTRODUCTION

1.1 OBJECTIVES

The objective of this project is to expose the students to the actual

1.2 BUSINESS BACKGROUND

Iman Ziqry is the owner of a stationery shop that sells a full range of school
and office supplies located in Bandar DiRaja Arau, Perlis. The business is
known as Iman Enterprise. The business is open from 10.00 am to 10.00
pm every day except on Sunday.

Iman Enterprise started its business on 1 May 2023. On the first day of
business, Iman Ziqry deposited RM60,000 cash in the business bank
account and brought into the business furniture valued at RM20,000 for
business use.

1.3 BUSINESS ACCOUNTING POLICIES

1.3.1 All transactions are recorded according to the date of the source
documents.
1.3.2 Payments are made either by cash or cheque. The cheques must be
signed by the owner.

1.4 BUSINESS ACCOUNTING PROCEDURES

The business is practicing a manual accounting system and the accounts

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2.0 ACCOUNTING CYCLE

3.0 INSTRUCTIONS FOR THE COMPREHENSIVE PROJECT

Journalize all the daily transactions in chronological order into the general journal.

Note: Narrations are NOT required.

(100 marks)

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4.0 APPENDIX: BUSINESS TRANSACTIONS

The followings are transactions of Iman Enterprise for the month of May 2023:

Date Transactions
May 1 Iman Ziqry the owner of Iman Enterprise deposited RM60,000 cash in the business
bank account and brought into the business, furniture valued at RM20,000 for
business use.
2 Purchased several types of stationery valued RM6,000 on credit from Pembekal
Alatulis AA.
3 Withdraw RM2,000 from the business bank account for business use.
3 Return goods purchased on May 2 valued RM300 due to wrong order delivery.
4 Cash sales amounted to RM2,700.
5 Sales of goods on credit to Amna Enterprise amounted to RM2,980.
5 Purchased various types of files valued RM3,300 from Firdaus Supplies Sdn Bhd
and payment will made next month.
6 Amna Enterprise returned goods valued RM120 due to damages.
7 Selling of stationeries to Seriab Holdings on credit valued RM4,000.
9 Paid advertisement cost, RM300 by cash.
10 Purchased A4 papers 500 reams valued RM5,000 on credit from Maya Trading.
11 Receive a cheque, RM400 for commission.
11 Sold A4 papers to SMK Arau and received a cheque, RM600.
12 Iman Ziqry issued a business cheque valued RM170 to pay for his personal
telephone bill.
12 Cash sales amounted to RM4,200.
13 Paid cash, RM100 for wage of shop cleaner.
14 Purchased a binding machine for business use worth RM400 using owner’s
personal cash.
15 Credit sales to Farahin amounted to RM550.
16 Total receipts of cash, RM950 for binding services.

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16 Bought office supplies for office use and paid with cheque, RM440.
17 Cash purchase from Alisa amounting to RM190
17 Paid cash, RM50 for delivery cost of goods to customer in Alor Setar.
18 Sold stationeries and files on credit to Alia valued RM330.
18 Issued cheques with total amount of RM2,600 as shop assistants’ half-month
salaries payment.
19 Issued a cheque valued RM900 as payment for purchases of pencil cases.
19 Cash sales amounted to RM2,100.
20 Issued a cheque valued RM2,000 to Pembekal Alatulis AA as part of debt
settlement.
21 Purchased a fax machine for office use valued RM510 and issued a cheque as
payment.
22 Paid cash RM100 for repair of furniture.
23 Purchased a set of computer and printer and issued a cheque, RM3,400.
23 Receive approval of loan for RM40,000 from Bank Setia. The amount approved
was credited to the business’ bank account.
23 Paid cash, RM100 for wage of shop cleaner.
24 Selling of goods valued RM3,200 on credit to Kangar Jaya Bhd.
24 Purchased 100 boxes of marker pen valued RM1,600 from Kayla Enterprise and
issued a cheque as payment.
25 Receive defective goods returned from Kangar Jaya Bhd valued RM80.
25 Receive cash for commission, RM160.
25 Receive a cheque as full payment from Amna Enterprise.
26 Issued a cheque, RM5,000 to invest into a fixed deposit account at Bank Setia.
26 Deposit cash RM5,000 into the business bank account.
27 Iman Ziqry donated RM400 cash to Rumah Kebajikan Tenang on business behalf.
27 Receive a cheque from Kangar Jaya Bhd as a full payment of its debt.
28 Iman Ziqry took several files from the shop valued RM50 to be given to his son.
28 Issued a cheque valued RM2,500 as part of debt settlement.to Maya Trading.
28 Total receipts of cash, RM500 for binding services.

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29 Issued cheques with total value of RM3,400 for utilities expenses.
29 Credit sales to Alor Merah Enterprise amounting to RM700.
30 Payment of shop rental, RM3,000 by issuing a cheque.
31 Issued cheques with total amount of RM2,600 as shop assistants’ half-month
salaries payment.
31 Cash sales amounted to RM1,200.

END OF QUESTION PAPER