FACULTY OF ACCOUNTANCY

DIPLOMA IN ACCOUNTANCY
AC110

FINANCIAL ACCOUNTING
FAR110

GROUP ASSIGNMENT

PREPARED BY
MUHAMMAD HIRZAN HAZIQ BIN SUHAILI (2021126365)
NURUL ANIS BINTI ABDULLAH (2021126893)
KAMILIA ADILAH BINTI ABDUL MUTALIB (2021104197)

PREPARED FOR
PUAN FATIMAH BINTI ALWI

GROUP AC1101A
Acknowledgement
Alhamdulillah and gratitude to the Almighty for giving us the strength and
patience to complete this assignment.
We would like to express our gratitude to everyone that involve rather direct or
indirectly in helping us to complete this assignment. Firstly, we really appreciate all
the helps , advisors and information which given by our lecturer , Puan Fatimah Binti
Alwi. Without her support, we may not able to solve problem during the process untill
we finish the assignment successfully.
In addition, we would like to take this opportunity to thanks those of our friend
who helped us and giving some guide to complete this assignment. Last but not
least, thousands of thanks we would like to express to our group member for the
cooperation given to the group. The completion of this project could not have been
possible without the participation from each and every one of us in our group. Finally,
thanks again to anyone who had helped us and guided us in order to finish the
assignment.
 Company Background
1. Name of the HAK CLOTHING
business

2. Owner Mr Hak

3. Location 24, Jalan PM 3, Bandar Tun Huseein Onn, 43200,

Cheras, Selangor

4. Type of business Sole Proprietorship

5. Accounting period Three Months (1 Jan 2021 – 31 March 2021 )

6. Activity of the Sell cloths

business
7. Worker Two

8. Business Status Start Business

HAK CLOTHING (TRANSACTIONS)

TYPE OF BUSINESS – CLOTHING STORE

ACCOUNTING CYCLE – 1 JAN 2021 – 31 MAR 2021

DATE TRANSACTIONS SUPPORTING NOTES

DOC
1/1/2021 The owner contributed RM50000 cash to  Cheque 1 capital
start the business
2/1/2021 Transferred RM40000 cash into the
business bank account
5/1/2021 Purchase a motor vehicle on credit for  Agreement 1 non-
RM20000 current asset
7/1/2021 Receive an invoice for goods purchase of  Invoice 1 credit
RM5000 from Sunglow Fashion purchase
Enterprise with credit terms is 2/15, n30
11/1/202 Bought a furniture RM3000 with cash  Cash Bill 2 non-
1 current asset
16/1/202 Issued an invoice to Luna Boutique  Invoice 1 credit sale
1 RM3500 with credit terms 5/20,n30
18/1/202 Issued debit note to Sunglow Fashion  Debit Note 1 purchase
1 Enterprise for goods returned worth return
RM600
22/1/202 22/1-Settled the amount due to Sunglow  Official 1 payment to
1 Fashion Enterprise by cheque Receipt supplier plus
discount
24/1/202 Settled utilities bill worth RM300 by cash  Cash Bill 1 expense
1
25/1/202 Pay shop rental RM1500 with cash  Cash Bill 2 expenses
1
27/1/202 Received a credit note from Luna  Credit 1 sales
1 Boutique for sales return RM700 Note return
2/2/2021 Receive a cheque amounting to  Cheque 1 non-
RM15000 for loan approved from current
Maibank Berhad liabilities
4/2/2021 Luna Boutique settled full payment by  Official 1 payment
cheque Receipt by
receivable
plus
discount
7/2/2021 Received commissions by cash RM200  Cash Bill 1 revenue
received
9/2/2021 Bought goods purchase by cash RM5000  Cash Bill 1 cash
from Urban Vogue purchase
12/2/202 Sold clothes amounting to RM7000 to  Cash Bill 1 cash sale
1 Blue Chic by cash
17/2/202 The business owner withdraws RM300  Memo 1 drawing
1 cash for personal use

DATE TRANSACTIONS SUPPORTING NOTES

DOC
18/2/202 The business purchased inventory of  Invoice 2 credit
1 RM8500 from Sunglow Fashion purchase
Enterprise on credit. The credit term was
5/15 n30.
21/2/202 The business sold inventory of RM5600  Invoice 2 credit sale
1 to Lovely Lady Clothing on credit with the
credit term 2/20, n30.
24/2/202 The business sold inventory of RM2000  Invoice 3 credit sale
1 to Luna Boutique and the payment will be
made in the next month. The credit term
was 2/15, n30.
26/2/202 The business owner paid shop rental  Cheque 3 expenses
1 RM1500 by cheque
1/3/2021 Make hire purchase RM10000 at Maibank  Agreement 2 non-
Berhad for secondhand motor vehicle current
liablities
3/3/2021 Settled full payment to Sunglow Fashion  Official 2 payments
Enterprise by cheque Receipt to supplier
plus
discounts
6/3/2021 Lovely Lady Clothing settled full payment  Official 2 payments
by cheque (2 payment by receivable plus Receipt by
discount) receivable
plus
discount
7/3/2021 Purchase inventory from Dahlia Apparel  Cash bill 2 cash
RM7000 and paid by cash immediately purchase
9/3/2021 Sold inventory of RM2300 to Maria and  Cash Bill 2 cash sales
received payment by cash
17/3/202 Received commissions by cash RM350  Cash Bill 2 revenues
1 received
22/3/202 The owner took RM200 worth of goods  Memo 2 drawings
1 for personal use
28/3/202 The owner paid the shop rental RM1500  Cash Bill 4 expenses
1 by cash
MAIBANK MALAYSIA BERHAD

CASH DEPOSIT Date 1/1/2021 

Name: HAK CLOTHING

Account
Num: 155015366421
             
RM 100 RM 50 RM 10 RM 5 RM 2 RM 1 JUMLAH
 300  400         50000

Malaysian
Ringgit:  Fifty thousand only
 
               
 
FOR BANK USE : Check By : Approved By :  
 Amirah  Hassan  
               
Document 1
 CAR BILL OF SALE

I Mr. Arif Hannapi do hereby sell all my rights and interest in the car
described as:

Manufacturer: Neutron Model: S-227X

Year: 2017 VIN#: PAL8897

Colour: Dark Blue Mileage: 10000KM

For the sum of RM20000, payment in form of debit card.

I do hereby grant, sell and transfer full ownership of this car to the
buyer. I certify that this car, at the time of sale, is free from all
encumbrances, taxes, fees and liens except as those specified on the
Title or listed below; and that, I (Seller) will defend and be held fully
responsible for such lawful claims and demands with respect to the
vehicle, if any.

Buyer accepts full liability for the car, damages, and any third party
liability incurred from the car use from the date of sale.

If applicable, Seller agrees to make arrangements for the reasonable

delivery of car title from lien holder to buyer immediately.

Arif Hak
(Seller’s signature) (Buyer’s signature)

Date:5/1/2021 Date:5/1/2021

Document 2
 BUSINESS DOCUMENTS
ORIGINAL INV001

INVOICE
Sunglow Fashion Enterprise
34, Jalan Lipir
58000, Kuala Lumpur
To: Date:7 Jan 2021
HAK Clothing
24, Jalan PM 3,
Bandar Tun Hussein Onn
43200, Cheras, Selangor
Bil Item Quantity Price Per Unit Total (RM)
(RM)
1 Dress 100 20.00 2000
2 Cardigan 100 15.00 1500
3 Hoodie 100 15.00 1500
Total 5000
Ringgit: Five thousand ringgit only

Terms: 15days 2%
K&K di K

Hak Johnny
( Receiver ) ( Manager )

Document 3
ORIGINAL
CB001
CASH BILL
IKEA
2, Jalan PJU 7/2,
Mutiara Damansara,
47800, Petaling Jaya, Selangor
To: Date:11 Jan 2021
HAK Clothing
24, Jalan PM 3,
Bandar Tun Hussein Onn
43200, Cheras, Selangor

Bil Item Quantity Price Per Unit Total

(RM) (RM)
1 Hanger 100 5.00 500
2 Clothes Rack 10 120.00 1200
3 Mannequin 20 65.00 1300
Total 3000
Ringgit: Three thousand only
Cash/No. Cheque : RM3000

Intan
( Manager )

Document 4
COPY INV002

INVOICE
HAK Clothing
24, Jalan PM 3,
Bandar Tun Hussein Onn
43200, Cheras, Selangor
To: Date:16 Jan 2021
Luna Boutique
56, Jalan Kucai,
Bandar Tungku Aminah
58000, Kuala Lumpur
Bil Item Quantity Price Per Unit Total (RM)
(RM)
1 Dress 40 35.00 1400
2 Cardigan 35 30.00 1050
3 Hoodie 35 30.00 1050
Total 3500
Ringgit: Three thousand and five hundred ringgit only

Terms: 20days 5%
K&K di K

Luna Hak
( Receiver ) ( Manager )

Document 5
COPY DN001

DEBIT NOTE
HAK Clothing
24, Jalan PM 3,
Bandar Tun Hussein Onn
43200, Cheras, Selangor
To : Date: 18 Jan 2021
Sunglow Fashion Enterprise
34, Jalan Lipir
58000, Kuala Lumpur
Your above account with us has been debited as the following.
Bil Item Quantity Price Per Unit Total (RM)
(RM)
1 Dress 30 20.00 600
Total 600
Ringgit: Six hundred only

Johnny Hak
( Receiver ) ( Manager)
Document 6
ORIGINA
L No. :  OR001

SUNGLOW FASHION ENTERPRISE

34, Jalan Lipir
58000, Kuala Lumpur

OFFICIAL RECEIPT

Date:  22/1/2021

Received From : HAK Clothing

Malaysian Ringgit :  Four thousand three hundred and twelve only

Payment For :  Settle the amount of INV001

         

RM  4312  Hak
Manager
Cash / Cheque No :  CN3143
             
Document 7
ORIGINAL
CB001
CASH BILL
TENAGA NASIONAL BERHAD
13-A, Jalan Sua Rasa 8/3
Tun Hussein Onn
43200, Cheras, Selangor
To: Date: 24 Jan 2021
HAK Clothing
24, Jalan PM 3,
Bandar Tun Hussein Onn
43200, Cheras, Selangor

Bil Item Quantity Price Per Unit Total

(RM) (RM)
1 Electric bill 1 300 300
Total 300
Ringgit: Three hundred only
Cash/No. Cheque : RM300

Aminah
( Manager )

Document 8
ORIGINAL
CB002
CASH BILL
RJS BUSINESS RENTAL
41, Jalan Harmoni 3/4,
Bandar Aman,
43200, Cheras, Selangor
To: Date: 25 Jan 2021
HAK Clothing
24, Jalan PM 3,
Bandar Tun Hussein Onn
43200, Cheras, Selangor

Bil Item Quantity Price Per Unit Total

(RM) (RM)
1 Rental January 1 1500 1500
Total 1500
Ringgit: One thousand and five hundred only
Cash/No. Cheque : RM1500

Cheng
( Manager )

Document 9
ORIGINAL CN001

CREDIT NOTE
Luna Boutique
56, Jalan Kucai,
Bandar Tungku Aminah
58000, Kuala Lumpur
To : Date: 27 Jan 2021
HAK Clothing
24, Jalan PM 3,
Bandar Tun Hussein Onn
43200, Cheras, Selangor
Your above account with us has been credited as the following.
Bil Item Quantity Price Per Unit Total (RM)
(RM)
1 Dress 20 35.00 700
Total 700
Ringgit: Seven hundred only

Hak Luna
( Receiver ) ( Manager)
Document 10
           
   
  Date : 2/2/2021   
   
  Receiver :  HAK Clothing  
   
  Reason :  Loan Approvement  
   
     
   
    RM  
  Last Balance  15688  
  Deposit    15000  
  Total    30688  
  This Cheque  -   
Balanc
  e     -  
   
  No. : 34975   
           
Document 11
COPY No. :  OR002

HAK CLOTHING
24, Jalan PM 3,
Bandar Tun Hussein Onn
43200, Cheras, Selangor

OFFICIAL RECEIPT

Date:  04/2/2021

Received From : Luna Boutique

Malaysian
Ringgit :  Two thousand six hundred and sixty only

Payment For :  Settle the amount of INV002

         

RM  2660  Luna
Manager
Cash / Cheque
No :  CN3144
             
Document 12
ORIGINAL
CB004
CASH BILL
JOZZBY VENDOR
62, Jalan Mutiara 1,
Bandar Permata,
55000, Ampang, Kuala Lumpur
To: Date: 7 Feb 2021
HAK Clothing
24, Jalan PM 3,
Bandar Tun Hussein Onn
43200, Cheras, Selangor

Bil Item Quantity Price Per Unit Total

(RM) (RM)
1 Commission Received 1 200 200
Total 200
Ringgit: Two hundred only
Cash/No. Cheque : RM200

Jozzby
( Manager )

Document 13
ORIGINAL
CB005
CASH BILL
URBAN VOGUE
37, Jalan Tun Razak,
50400, Kuala Lumpur,
Wilayah Persekutuan
To: Date: 9 Feb 2021
HAK Clothing
24, Jalan PM 3,
Bandar Tun Hussein Onn
43200, Cheras, Selangor

Bil Item Quantity Price Per Unit Total

(RM) (RM)
1 White Shirt 125 20.00 2500
2 Black Shirt 125 20.00 2500
Total 5000
Ringgit: Five thousand only
Cash/No. Cheque : RM5000

Danny
( Manager )

Document 14
COPY
CB006
CASH BILL
HAK Clothing
24, Jalan PM 3,
Bandar Tun Hussein Onn
43200, Cheras, Selangor
To: Date: 12 Feb 2021
Blue Chic
20, Jalan Marak,
Bandar Utama,
40000, Shah Alam, Selangor

Bil Item Quantity Price Per Unit Total

(RM) (RM)
1 White Shirt 80 30.00 2400
2 Black Shirt 62 50.00 3100
3 Cardigan 50 30.00 1500
Total 7000
Ringgit: Seven thousand only
Cash/No. Cheque : RM7000

Hak
( Manager )

Document 15
 MEMO
Date :  17 Feb 2021

To :  Phoebe and Atirah

From :  Mr. Steven Hak

Reminder:

 I took RM300 cash for personal use.

 
             

 Hak
Manager

Document 16
ORIGINAL INV003

INVOICE
Sunglow Fashion Enterprise
34, Jalan Lipir
58000, Kuala Lumpur
To: Date:18 Feb 2021
HAK Clothing
24, Jalan PM 3,
Bandar Tun Hussein Onn
43200, Cheras, Selangor
Bil Item Quantity Price Per Unit Total (RM)
(RM)
1 Dress 125 20.00 2500
2 Cardigan 200 15.00 3000
3 Hoodie 200 15.00 3000
Total 8500
Ringgit: Eight thousand and five hundred ringgit only

Terms: 15days 5%
K&K di K

Hak Johnny
( Receiver ) ( Manager )

Document 17
COPY INV004

INVOICE
HAK Clothing
24, Jalan PM 3,
Bandar Tun Hussein Onn
43200, Cheras, Selangor
To: Date:21 Feb 2021
Lovely Lady Clothing
89, Jalan Bukit Jati,
Bandar Baru Klang,
41050, Klang, Selangor
Bil Item Quantity Price Per Unit Total (RM)
(RM)
1 Dress 100 35.00 3500
2 Cardigan 70 30.00 2100
Total 5600
Ringgit: Five thousand and six hundred ringgit only

Terms: 20days 2%
K&K di K

Aqila Hak
( Receiver ) ( Manager )

Document 18
COPY INV005

INVOICE
HAK Clothing
24, Jalan PM 3,
Bandar Tun Hussein Onn
43200, Cheras, Selangor
To: Date:24 Feb 2021
Luna Boutique
56, Jalan Kucai,
Bandar Tungku Aminah
58000, Kuala Lumpur
Bil Item Quantity Price Per Unit Total (RM)
(RM)
1 Dress 40 35.00 1400
2 Hoodie 20 30.00 600
Total 2000
Ringgit: Two thousand ringgit only

Terms: 15days 2%
K&K di K

Luna Hak
( Receiver ) ( Manager )

Document 19
           
   
  Date :  26/2/2021  
   
  Receiver :  RJS Business Rental  
   
  Reason :  Rental February  
   
     
   
    RM  
  Baki Terakhir  1500  
  Deposit    -  
  Jumlah    1500  
  Cek ini   1500  
  Baki     0  
   
  No. : 46783   
           

CHEQUE BUTT

Document 20
 MOTORCYCLE BILL OF SALE

I Mr. Abu Izham do hereby sell all my rights and interest in the
motorcycle described as:

Manufacturer: Tronvage Model: Faraway X10

Year: 2018 VIN#: VA3876

Colour: Black Mileage: 5000KM

For the sum of RM10000, payment in form of debit card.

I do hereby grant, sell and transfer full ownership of this motorcycle

to the buyer. I certify that this motorcycle, at the time of sale, is free
from all encumbrances, taxes, fees and liens except as those
specified on the Title or listed below; and that, I (Seller) will defend
and be held fully responsible for such lawful claims and demands
with respect to the vehicle, if any.

Buyer accepts full liability for the motorcycle, damages, and any third
party liability incurred from the motorcycle use from the date of sale.

If applicable, Seller agrees to make arrangements for the reasonable

delivery of motorcycle title from lien holder to buyer immediately.

Abu Hak
(Seller’s signature) (Buyer’s signature)

Date:1/3/2021 Date:1/3/2021

Document 21
ORIGINA
L No. :  OR003
 SUNGLOW FASHION ENTERPRISE
34, Jalan Lipir
58000, Kuala Lumpur

OFFICIAL RECEIPT

Date:  3/3/2021

Received From : HAK Clothing

Malaysian Ringgit :  Eight thousand and seventy five only

Payment For :  Settle the amount of INV003

         

RM  8075  Hak
Manager
Cash / Cheque No :  CN3145
             
Document 22
COPY No. :  OR002

HAK CLOTHING
24, Jalan PM 3,
Bandar Tun Hussein Onn
43200, Cheras, Selangor

OFFICIAL RECEIPT

Date:  6/3/2021

Received From : Lovely Lady Clothing

Malaysian
Ringgit :  Five thousand four hundred and eighty-eight only

Payment For :  Settle the amount of INV004

         

RM  5488  Aqila
Manager
Cash / Cheque
No :  CN3146
             
Document 23
ORIGINAL
CB002
CASH BILL
Dahlia Apparel
27, Jalan Orkid,
Bandar Mawar Merah,
42700, Banting, Selangor
To: Date:7 March 2021
HAK Clothing
24, Jalan PM 3,
Bandar Tun Hussein Onn
43200, Cheras, Selangor

Bil Item Quantity Price Per Unit Total

(RM) (RM)
1 Dress 100 35.00 3500
2 Cardigan 70 30.00 2100
3 Black Shirt 28 50.00 1400
Total 7000
Ringgit: Seven thousand only
Cash/No. Cheque : RM7000

Hak
( Manager )

Document 24
COPY
CB007
CASH BILL
HAK Clothing
24, Jalan PM 3,
Bandar Tun Hussein Onn
43200, Cheras, Selangor
To: Date: 9 March 2021
Maria
70, Jalan Alor,
Bandar Bukit Bintang ,
50200, Kuala Lumpur

Bil Item Quantity Price Per Unit Total

(RM) (RM)
1 Dress 40 35.00 1400
2 Cardigan 30 30.00 900
Total 2300
Ringgit: Two thousand and three hundred only
Cash/No. Cheque : RM2300

Hak
( Manager )

Document 25
ORIGINAL
CB008
CASH BILL
JOZZBY VENDOR
62, Jalan Mutiara 1,
Bandar Permata,
55000, Ampang, Kuala Lumpur
To: Date:17 March 2021
HAK Clothing
24, Jalan PM 3,
Bandar Tun Hussein Onn
43200, Cheras, Selangor

Bil Item Quantity Price Per Unit Total

(RM) (RM)
1 Commission Received 1 350.00 350
Total 350
Ringgit: Three hundred and fifty only
Cash/No. Cheque : RM350

Jozzby
( Manager )

Document 26
 MEMO
Date :  22 March 2021

To :  Phoebe and Atirah

From :  Mr. Steven Hak

Peringatan:

 I took RM200 worth of goods.

 Dress X5 = RM100

 White Shirt X5 = RM100

 
             

 Hak
Manager
Document 27
ORIGINAL
CB003
CASH BILL
RJS BUSINESS RENTAL
41, Jalan Harmoni 3/4,
Bandar Aman,
43200, Cheras, Selangor
To: Date: 28 March 2021
HAK Clothing
24, Jalan PM 3,
Bandar Tun Hussein Onn
43200, Cheras, Selangor

Bil Item Quantity Price Per Unit Total

(RM) (RM)
1 Rental March 1 1500 1500
Total 1500
Ringgit: One thousand and five hundred only
Cash/No. Cheque : RM1500

Cheng
( Manager )

Document 28
GENERAL JOURNAL
DATE ITEMS DR (RM) CR (RM)
1/1/2021 Dr Cash 50000
Cr Capital 50000

2/1/2021 Dr Bank 40000

Cr Cash 40000

5/1/2021 Dr Motor Vehicle 20000

Cr Bank 20000

11/1/2021 Dr Furniture 3000

Cr Cash 3000

2/2/2021 Dr Bank 15000

Cr Loan Received 15000

17/2/2021 Dr Drawings 300

Cr Cash 300

1/3/2021 Dr Bank 10000

Cr Hire Purchase 10000

22/3/2021 Dr Drawings 200

Cr Purchase 200

Purchases Journal
Date Particular Inv. No Folio/Ref Amount (RM)
7/1/2021 Acc payable- 5000
Sunglow Fashion
Enterprise
18/2/2021 Acc payable- 8500
Sunglow Fashion
Enterprise
(transferred to 13 500
Purchase
Account)
 Sales Journal
Date Particular Inv. No Folio/Ref Amount (RM)
16/1/2021 Acc receivables- 3 500
Luna Boutique
21/2/2021 Acc receivables- 5 600
Lovely Lady
Clothing
24/2/2021 Acc receivables- 2 000
Luna Boutique
(transferred to 11 100
Sales Account)

Purchase Return
Date Particular Inv. No Folio/Ref Amount (RM)
18/1/2021 Acc payable- 600
Sunglow Fashion
Enterprise
(transferred to 600
Purchase Return
Account)

Sales Return
Date Particular Inv. No Folio/Ref Amount (RM)
27/1/2021 Acc receivables- 700
Luna Boutique
(transferred to 700
Sales Return
Account)
 Cash Payment Journal
DATE PARTICULAR FOLIO/REF DISC CASH (RM) BANK (RM)
ALLOWED
(RM)
20/1/2021 Sunglow 88 4 400
Fashion
Enterprise
24/1/2021 Utilities 300
25/1/2021 Rental 1 500
9/2/2021 Purchase 5 000
26/2/2021 Rental 1 500
3/3/2021 Sunglow 425 8 075
Fashion
Enterprise
7/3/2021 Purchase 7 000
28/3/2021 Rental 1 500
513 15 300 13 975

Cash Receipt Journal

DATE PARTICULAR FOLIO/REF DISC CASH (RM) BANK (RM)
ALLOWED
(RM)
4/2/2021 Luna 140 2 800
Boutique
7/2/2021 Comission 200
12/2/2021 Sales 7 000
6/3/2021 Lovely Lady 5 488
Clothing
9/3/2021 Sales 2 300
17/3/2021 Comission 350
140 9 850 8 288
LEDGERS
CASH ACCOUNT
DATE ITEMS DR (RM) CR (RM) BALANCE (RM)
1/1/2021 Capital 50000 50000 DR
2/1/2021 Bank 40000 10000 DR
11/1/2021 Furniture 3000 7000 DR
24/1/2021 Utilities 300 6700 DR
25/1/2021 Rental Expense 1500 5200 DR
7/2/2021 Commission Received 200 5400 DR
9/2/2021 Purchase 5000 400 DR
12/2/2021 Sales 7000 7400 DR
17/2/2021 Drawings 300 7100 DR
7/3/2021 Purchase 7000 100 DR
9/3/2021 Sales 2300 2400 DR
17/3/2021 Commission Received 350 2750 DR
28/3/2021 Rental Expense 1500 1250 DR

CAPITAL ACCOUNT
DATE ITEMS DR (RM) CR (RM) BALANCE (RM)
1/1/2021 Cash 50000 50000 CR

BANK ACCOUNT
DATE ITEMS DR (RM) CR (RM) BALANCE (RM)
2/1/2021 Cash 40000 40000 DR
5/1/2021 Motor Vehicle 20000 20000 DR
20/1/2021 Acc Payable-Sunglow 4312 15688 DR
Fashion Enterprise
2/2/2021 Loan Received 15000 30688 DR
4/2/2021 Acc Receivable-Luna 2660 33348 DR
Boutique
26/2/2021 Rental Expense 1500 31848 DR
1/3/2021 Hire Purchase 10000 41848 DR
3/3/2021 Acc Payable-Sunglow 8075 33773 DR
Fashion Enterprise
6/3/2021 Acc Receivable-Lovely 5488 39261 DR
Lady Clothing
 MOTOR VEHICLE ACCOUNT
DATE ITEMS DR (RM) CR (RM) BALANCE (RM)
5/1/2021 Bank 20000 20000 DR

PURCHASE ACCOUNT
DATE ITEMS DR (RM) CR (RM) BALANCE (RM)
7/1/2021 Acc Payable-Sunglow 5000 5000 DR
Fashion Enterprise
9/2/2021 Cash 5000 10000 DR
18/2/2021 Acc Payable-Sunglow 8500 18500 DR
Fashion Enterprise
7/3/2021 Cash 7000 25500 DR
22/3/2021 Drawings 200 25300 DR

ACCOUNT PAYABLE-SUNGLOW FASHION ENTERPRISE

DATE ITEMS DR (RM) CR (RM) BALANCE (RM)
7/1/2021 Purchase 5000 5000 CR
18/1/2021 Purchase Return 600 4400 CR
20/1/2021 Bank 4312 88 CR
Purchase Discount 88 0 CR
18/2/2021 Purchase 8500 8500 CR
3/3/2021 Bank 8075 425 CR
Purchase Discount 425 0 CR

FURNITURE ACCOUNT
DATE ITEMS DR (RM) CR (RM) BALANCE (RM)
11/1/2021 Cash 3000 3000 DR

ACCOUNT RECEIVABLE-LUNA BOUTIQUE

DATE ITEMS DR (RM) CR (RM) BALANCE (RM)
16/1/2021 Sales 3500 3500 DR
27/1/2021 Sales Return 700 2800 DR
4/2/2021 Bank 2660 140 DR
Sales Discount 140 0 DR
24/2/2021 Sales 2000 2000 DR
 SALES ACCOUNT
DATE ITEMS DR (RM) CR (RM) BALANCE (RM)
16/1/2021 Acc Receivable-Luna 3500 3500 CR
Boutique
12/2/2021 Cash 7000 10500 CR
21/2/2021 Acc Receivable-Lovely 5600 16100 CR
Lady Clothing
24/2/2021 Acc Receivable-Luna 2000 18100 CR
Boutique
9/3/2021 Cash 2300 20400 CR

PURCHASE RETURN ACCOUNT

DATE ITEMS DR (RM) CR (RM) BALANCE (RM)
18/1/2021 Acc Payable-Sunglow 600 600 CR
Fashion Enterprise

PURCHASE DISCOUNT ACCOUNT

DATE ITEMS DR (RM) CR (RM) BALANCE (RM)
20/1/2021 Acc Payable-Sunglow 88 88 CR
Fashion Enterprise
3/3/2021 Acc Payable-Sunglow 425 513 CR
Fashion Enterprise

UTILITIES ACCOUNT
DATE ITEMS DR (RM) CR (RM) BALANCE (RM)
24/1/2021 Cash 300 300 DR

RENTAL EXPENSE ACCOUNT

DATE ITEMS DR (RM) CR (RM) BALANCE (RM)
25/1/2021 Cash 1500 1500 DR
26/2/2021 Bank 1500 3000 DR
28/3/2021 Cash 1500 4500 DR
 SALES RETURN ACCOUNT
DATE ITEMS DR (RM) CR (RM) BALANCE (RM)
27/1/2021 Acc Receivable-Luna 700 700 DR
Boutique

LOAN RECEIVED ACCOUNT

DATE ITEMS DR (RM) CR (RM) BALANCE (RM)
2/2/2021 Bank 15000 15000 CR

SALES DISCOUNT ACCOUNT

DATE ITEMS DR (RM) CR (RM) BALANCE (RM)
4/2/2021 Acc Receivable-Luna 140 140 DR
Boutique
6/3/2021 Acc Receivable-Lovely 112 252 DR
Lady Clothing

COMMISSION RECEIVED ACCOUNT

DATE ITEMS DR (RM) CR (RM) BALANCE (RM)
7/2/2021 Cash 200 200 CR
17/3/2021 Cash 350 550 CR

DRAWINGS ACCOUNT
DATE ITEMS DR (RM) CR (RM) BALANCE (RM)
17/2/2021 Cash 300 300 DR
22/3/2021 Purchase 200 500 DR

ACCOUNT RECEIVABLE-LOVELY LADY CLOTHING

DATE ITEMS DR (RM) CR (RM) BALANCE (RM)
21/2/2021 Sales 5600 5600 DR
6/3/2021 Bank 5488 122 DR
Sales Discount 122 0 DR

HIRE PURCHASE ACCOUNT

DATE ITEMS DR (RM) CR (RM) BALANCE (RM)
1/3/2021 Bank 10000 10000 CR
 TRIAL BALANCE AS AT 31 MARCH 2021
DR (RM) CR (RM)
CASH 1250
CAPITAL 50000
BANK 39261
MOTOR VEHICLE 20000
PURCHASE 25300
FURNITURE 3000
ACCOUNT RECEIVABLE-LUNA BOUTIQUE 2000
SALES 20400
PURCHASE RETURN 600
PURCHASE DISCOUNT 513
UTILITIES 300
RENTAL EXPENSE 4500
SALES RETURN 700
LOAN RECEIVED 15000
SALES DISCOUNT 252
COMMISSION RECEIVED 550
DRAWINGS 500
HIRE PURCHASE 10000

97063 97063
 STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED 31 MARCH 2021
(RM) (RM) (RM)
Sales           20,400
less: sales return           (700)
less: sales discounts           (252)
net sales           19,448

less: cost of goods sold            

Opening Inventories       0    
Add : purchases   25,300        
less: purchase returns   (600)        
less: purchase discounts   (513)        
net purchases   24,187        
cost of goods purchased   24,187   24,187    
cost of goods sold       24187   (24,187)
GROSS PROFIT (4,739)

add: other income            

commission received       550   550

less: expenses        
rental expense       (4,500)
utilities       (300)
NET LOSS (8,989)
 STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2021

COST
NON-CURRENT ASSETS (RM) ACC. DEPRECIATION (RM)   CARRYING VALUE (RM)
Motor vehicle 20,000 0   20,000
Furniture 3,000 0   3,000
23,000

CURRENT ASSETS
accounts receivable 2,000
cash at bank 39,261
cash in hand 1,250 42,511
65,511

FINANCED BY:
OWNER'S EQUITY
opening capital 50,000
less: net loss (8,989)
less: drawings (500)
closing capital 40,511

NON-CURRENT LIABILITIES
long term loan 15,000
hire purchase 10,000 25,000
65,511