ACCOUNTING SIMULATION REPORT

COURSE:
FINANCIAL ACCOUNTING 1 (FAR110)
REPORT TITLE:
ACCOUTING SIMULATION
CLASS:
AC1101D
PREPARED BY:
NAME STUDENT I/D

1) WAN IZZUL HAKIM BIN WAN JAMAL 2020839316
ABDUL NASIR
2) SADATUL AFIQAH BINTI ROSLI 2020451216
3) NUKMAN HAKIM BIN NAHMAR 2020469332
4) WAN NURIN ANNISAA BINTI WAN NOR RUDDIN 2020868774
PREPARED FOR:
MADAM SULIZA BINTI SUHAIMIN

TABLE OF CONTENTS
NO. PARTICULAR PAGE
1. Background Of The Business 1
2. Transaction Of The Business 2-4
3. Documents 5-34
4. Journal 35-37
5. Ledger 38-44
6. Trial Balance 45
7. Financial Statements
i. Statement Of Profit Or Loss 46
ii. Financial Position 47
1. BACKGROUND OF THE BUSINESS
1. NAME OF THE BUSINESS WAN’S HIJABSTER
2. NAME OF THE OWNER Wan Izzul Hakim bin Wan Jamal Abdul Nasir
3. ADDRESS B-12, Jalan Teruntum 1,

Taman Teruntum Damai,
25200, Kuantan, Pahang Darul Makmur
4. TYPE OF BUSINESS Sole proprietorship
5. ACTIVITY OF THE BUSINESS Sell shawl, square scarf, inner, brooch
6. ACCOUNTING PERIOD 1 November 2020 - 31 October 2020 (annually)
7. RECORD PERIOD 1 November 2020 – 30 November 2020

(one month)
8. THE NUMBER OF WOKERS 1person (RM 2,500 monthly)
9. BUSSINESS STATUS Starting the business
1
2. Transaction Of The Business
DATE BUSINESS’ TRANSACTION DOCUMENT
2020 Starting the business by brought in the capital as follows: MEMO

Nov 1 RM
Cash 5,000
Bank 30,000
Second Hand Car 20,000
Fixtures and Fittings 12,000
2 Made a loan from Lion Bank amounting to RM 20,000 by cheque. MEMO
3 The business purchased 200 units square hijab worth RM 8,000 on INVOICE (original)
credit from Alia Trading. The credit term is 2/15, net 30. IV1000
4 200 units of shawl have been purchased on credit from Bella Sdn Bhd. INVOICE (original)
The total amount to be paid is RM 11,000 with credit term 4/20, net IV1500
30.
5 Received an invoice from Amy Sdn Bhd amounted RM 1000 (after INVOICE (original)
5% trade discount) for 100 units of inner. The credit term 2/15, net 30. IV1250
6 Sold 5 units of shawl, 12 units of square hijab and 2 units of inner on INVOICE (copy)
credit to Hana’s Kiosk with total worth of RM 1,500. The credit term IV0001
2/10, net 30.
7 Purchased 20 units of square hijab from Tira Enterprise with total CASH BILL (original)
worth RM 700 and settled by cheque. NO CHE. CIB0001
8 Purchased 100 units of brooch from Stylish Trading with total worth CASH BILL (original)
RM 400 and paid by cash. BT0004
9 Returned 10 units square hijab amounting RM 400 due to received CREDIT NOTE
wrong colour to Alia Trading. (original) CN0024
2
10 Sold 10 units of shawl and 5 units of inner on credit to Husna’s Shop INVOICE (copy)
with total worth RM 1,100. The credit term is 2/15, net 30. IV0002
11 Settled amount outstanding by cheque to Alia Trading. CHEQUE BUTT
NO CHE: CIB0002
12 Received rental income amounting RM 1,000 by cheque. OFFICIAL
RECEIPT (copy)
CIB0098
13 Received settlement from Hana’s Kiosk by cash. OFFICIAL
RECEIPT (copy)
RT002
14 Bought office equipment from IKIA worth RM 5,000 and paid by CHEQUE BUTT
cheque. NO CHE: CIB0003
15 Settled the amount due to Bella Sdn Bhd by cheque. CHEQUE BUTT
NO CHE: CIB0004
16 Issued a receipt to Puan Maya for cash sales of 3 units of shawl with OFFICIAL
total worth RM 300. RECEIPT (copy)
RT003
17 Husna’s Shop paid the amount owed by cheque. OFFICIAL
RECEIPT (copy)
CIB0987
18 Issued an invoice for sale of 30 units of shawls to Fashionista Trading. INVOICE (copy)
The amount of the invoice is RM 3,000 with credit term 3/15, net 30. IV0003
19 The owner took RM 400 cash for personal use. MEMO
20 Purchased computer from Digital Centre worth RM 3,000 and paid by CASH BILL
cash. (original)
BT0021
21 Fashionista Trading returned 2 units of shawl with total worth RM 200 CREDIT NOTE
due to defect. (copy)
CN0001
3
22 Paid salary to staff amounting to RM 2,500 by cheque. PAYMENT
VOUCHER
NO CHE CIB0005
23 Paid rental expense amounting to RM 3,000 by cheque. PAYMENT
VOUCHER
NO CHE CIB0006
24 Received cash RM 200 from Puan Sarah for sales of 3 units of square OFFICIAL
hijab. RECEIPT (copy)
RT005
25 Paid utility bills amounting to RM 800 by cash. PAYMENT
VOUCHER
PV0003
26 Received commission worth of RM 400 by cheque from Muslimah OFFICIAL
Enterprise. RECEIPT (copy)
NO CHE CIB0996
27 Paid RM 800 to Ali Service Sdn Bhd by cash for repair on business’ PAYMENT
secondhand car. VOUCHER
PV0004
28 Issued an invoice for sales of 15 units of square hijab and 20 units of INVOICE (copy)
inner to Orked’s Hijab. The amount of the invoice is RM 1,600 with IV0004
credit term 2/15, net 30.
29 Made a loan from CIB Bank amounting RM 10,000 by cheque. MEMO
30 The owner took 2 units of shawl with total amount RM 200 for his MEMO
daughter birthday present.
30 The closing inventories at 30 November 2020 is RM 16,740.
4
3. SOURCE OF DOCUMENTS
DATE :
WANS Hijabster
..............................................................
MEMO B-12, Jalan Teruntum 1,
............................................................... 1 NOV 2020
................................................................
................................................................
SUBJECT :
Starting the business by brought in the capital as follows :
Particular Quantity
Cash RM 5000.00
Bank RM 30000.00
Second Hand Car RM 20000.00
Fixtures and Fittings RM 12000.00
Wan
(Manager)
Document : 1
5
DATE :
WANS Hijabster
..............................................................
MEMO B-12, Jalan Teruntum 1,
............................................................... 2 NOV 2020
................................................................
................................................................
SUBJECT :
Made a loan from Lion Bank amounting to RM 20,000.00 by cheque
Particular Quantity
Cheque RM 20000
Wan
(Manager)
Document : 2
6
ORIGINAL INVOICE No : IV1000
Alia Trading
Lot 3, Bukit Rangin
25150 Kuantan, Pahang
Date : 3 NOV 2020

To :
WANS Hijabster
..............................................................
B-12, Jalan Teruntum 1,
...............................................................
................................................................
................................................................
Particular Quantity Price Total

per unit (RM)
Square Hijab 200 40.00 8000.00
Total
8000.00
Ringgit
Malaysia : Eight thousand only
Requirement :
2% 15 days
Payment is due within 30 days
Wan Alia
(Receiver) (Manager)
Document : 3
7
Bella Sdn Bhd

B-3, Jalan Damai 5,
25150, Kuantan, Pahang
Date : 4 NOV 2020

To :
WANS Hijabster
..............................................................
...............................................................
................................................................
................................................................

per unit (RM)
Shawl 200 55.00 11000.00
Total
11000.00
Ringgit
Malaysia : Eleven thousand only
Requirement :
4% 20 days
Wan Bella
Document : 4
8
Amy Sdn Bhd

Lot 5, Jalan Makmur Jaya
25200 Kuantan, Pahang Darul Makmur
Date : 5 NOV 2020

To :
WANS Hijabster
..............................................................
...............................................................
................................................................
................................................................

per unit (RM)
Inner 100 10.50 1050.00
Subtotal
1050.00
Trade 50.00
Discount 5%
Total 1000.00
Ringgit
Malaysia : One thousand only
Requirement :
2% 15 days
Wan Amy
Document : 5
9
COPY INVOICE No : IV0001
WANS Hijabster
Date : 6 NOV 2020

To :
Hana’s Kiosk
..............................................................
B-12, Lorong Taman Mentiga 29
...............................................................
Taman Mentiga Jaya,
................................................................
26600, Pekan, Pahang Darul Makmur
................................................................

per unit (RM)
Shawl 5 100.00 500.00
Square Hijab 12 80.00 960.00
Inner 2 20.00 40.00
Total 1500.00
Ringgit
Malaysia : One thousand and five hundred only
Requirement :
2% 10 days
Hana Wan
Document : 6
10
NO BIL: BT0004 CASH BILL ORIGINAL
Tira Enterprise
..............................................................
LOT-10, Jalan Bukit Rangin 1
...............................................................
Bukit Rangin
................................................................
................................................................
Tarikh : 7 November 2020

Kepada : WANS Hijabster
Butir Kuantiti Harga Jumlah

seunit (RM)
Square Hijab 20 35.00 700.00
Total 700.00
Ringgit
Malaysia: Seven hundred only
Cash / Cheque no : CIB0001
Wan Tira
Document : 7
11
NO BIL: CASH BILL ORIGINAL
BT0004
Stylish Trading
..............................................................
Lot-4, Jalan Kempadang 1
...............................................................
................................................................
Date : 8 November 2020

To : WANS Hijabster
Particular Quantity Price per Total

unit (RM)
Brooch 100 4.00 400.00
Total 400.00
Ringgit
Malaysia: Four hundred only
Cash / Cheque no :
Wan Ahmad
Document : 8
12
ORIGINAL
CREDIT NOTE No : CN0024
Alia Trading
Lot 3, Bukit Rangin
25150 Kuantan, Pahang

To :
WANS Hijabster
..............................................................
...............................................................
................................................................
................................................................
Your account have been credited

unit (RM)
Square Hijab 10 40.00 400.00
Total 400.00
Ringgit
Malaysia: Four hundred only
K&K diK
Wan Alia
Document : 9
13
WANS Hijabster
Date : 10 NOV 2020

To :
Husna’s Shop
..............................................................
B-15, Lorong Indera Mahkota 2
...............................................................
Indera Mahkota Perdana
................................................................
................................................................

per unit (RM)
10 100.00 1000.00
Shawl
Inner 5 20.00 100.00
Total 1100.00
Ringgit
Malaysia : One thousand and one hundred only
Requirement :
2% 15 days
Husna Wan
Document : 10
14
Receiver : Alia Trading
Because : Invoice no. IV1000
Ringgit Sen
Balance b/f 49300 00
Deposit - -
Total 49300 00
This cheque 7448 00
Balance c/f 41852 00
Cheque no. : CIB0002
Document : 11
15
COPY OFFICIAL RECEIPT no : RT001
WANS Hijabster
25200, Kuantan, Pahang Darul
Makmur
Tel: 0123219011
Received from : ENCIK ABU
Ringgit Malaysia : One thousand only
Payment for : Rental income
RM1000.00
Wan
(Manager)
Document : 12
16
WANS Hijabster
Makmur
Tel: 0123219011
Received from : Hana’s Kiosk
Ringgit Malaysia : One thousand four hundred and seventy only
Payment for : Invoice no. IV0001
RM1470.00
Cash / Cheque no :
Wan
(Manager)
Document : 13
17
Receiver : IKIA
Because : Payment of office equipment
Ringgit Sen
Deposit - -
Total 42852 00
This cheque 5000 00
Document : 14
18
Receiver : Bella Sdn Bhd
Because : Invoice no. IV1500
Ringgit Sen
Deposit - -
Total 37852 00
This cheque 10560 00
Document : 15
19
WANS Hijabster
Makmur
Tel: 0123219011
Received from : Puan Maya
Ringgit Malaysia : Three hundred only
Payment for : Sales
RM300.00
Cash / Cheque no :
Wan
(Manager)
Document : 16
20
WANS Hijabster
Makmur
Tel: 0123219011
Received from : Husna’s Shop
Ringgit Malaysia : One thousand and seventy eight only
Payment for : Invoice no. IV0002
RM1078.00
Wan
(Manager)
Document : 17
21
WANS Hijabster
Date :118 November 2020

To :
Fashionista Trading
..............................................................
B-9, Jalan Teluk Sisik
...............................................................
................................................................

unit (RM)
Shawl 30 100.00 3000.00
Total
3000.00
Ringgit
Malaysia : Three thousand only
Requirement :
3% 15 days
Siti Wan
Document : 18
22
DATE :
WANS Hijabster
MEMO Taman Teruntum Damai,
19 NOV 2020
SUBJECT :
The owner took RM400 cash for personal use
Particular Quantity
Cash RM 400
Wan
(Manager)
Document : 19
23
NO BIL: BT0021 BIL TUNAI ORIGINAL
Digital Centre
..............................................................
B-10, Jalan IM7/8
...............................................................
Indera Mahkota 2
................................................................
................................................................

To : WANS Hijabster

unit (RM)
Computer 1 3000.00 3000.00
Total 3000.00
Ringgit
Malaysia: Three thousand only
Cash / Cheque no :
Wan Lee
Document : 20
24
COPY
CREDIT NOTE No : CN0001
WANS Hijabster

To :
Fashionista Trading
..............................................................
B-9, Jalan Teluk Sisik
...............................................................
................................................................
Your account have been credited :

unit (RM)
Shawl 2 100.00 200.00
Total 200.00
Ringgit
Malaysia: Two hundred only
K&K diK
Siti Wan
Document : 21
25
ORIGINAL voucher no: PV0001
PAYMENT
VOUCHER
WANS Hijabster
Date : 22 NOV 2020

To :
Mr/Ms/Tuan/Puan: Hakim
Description RM
Paid salary to staff 2500.00
Ringgit Malaysia : Two thousand and five hundred only
Cash / Cheque no. : CIB0005
Hakim Wan
Document : 22
26
PAYMENT
VOUCHER
WANS Hijabster
Date : 23 NOV 2020

To :
Mr/Ms/Tuan/Puan: Alif
Description RM
Paid rental expense 3000.00
Ringgit Malaysia : Three thousand only
Cash / Cheque no. : CIB0006
Alif Wan
Document : 23
27
WANS Hijabster
Makmur
Tel: 0123219011
Received from : Puan Sarah
Ringgit Malaysia : Two hundred only
Payment for : Sales
RM200.00
Cash / Cheque no :
Wan
(Manager)
Document : 24
28
PAYMENT
VOUCHER
WANS Hijabster
Date : 25 NOV 2020

To :
Tenaga
Nasional
Berhad
Mr/Ms/Tuan/Puan: Nurin
Description RM
Paid utility bills 800.00
Ringgit Malaysia : Eight hundred only
Cash / Cheque no. :
Nurin Wan
Document : 25
29
WANS Hijabster
Makmur
Tel: 0123219011
Received from : Muslimah Enterprise
Ringgit Malaysia : Four hundred only
Payment for : Commission
RM400.00
Wan
(Manager)
Document : 26
30
PAYMENT
VOUCHER
WANS Hijabster
Date : 27 NOV 2020

To :
Mr/Ms/Tuan/Puan: Ali Service Sdn Bhd
Description RM
Paid repaid on business’ second hand car 800.00
Ringgit Malaysia : Eight hundred only
Cash / Cheque no. :
Ali Wan
Document : 27
31
WANS Hijabster
Date : 28 NOV 2020

To :
Orked’s Hijab
..............................................................
B-99, Jalan Stadium
...............................................................
................................................................

per unit (RM)
Square Hijab 15 80.00 1200.00
Inner 20 20.00 400.00
Total
1600.00
Ringgit
Malaysia : One thousand and six hundred only
Requirement :
2% 15 days
Qrkid Wan
Document : 28
32
DATE :
WANS Hijabster
29 NOV 2020
SUBJECT :
Made a loan from CIB Bank
Particular Quantity
Cheque RM10000
Wan
(Manager)
Document : 29
33
DATE :
WANS Hijabster
30 NOV 2020
SUBJECT :
The owner took 2 units of shawl
Particular Quantity Total
Shawl 2 RM200
Wan
(Manager)
Document : 30
34
4. JOURNAL FOR WAN’S HIJABSTER
GENERAL JOURNAL
DATE PARTICULAR FOL DEBIT(RM) CREDIT(RM)
2020
Nov 1 Secondhand car 20,000
Fixtures and fittings 12,000
Capital 32,000
30 Drawings 200
Purchases 200
30 Total 32,200 32,200
PURCHASED JOURNAL
DATE PARTICULAR INV NO. AMOUNT(RM)
2020
Nov 3 Alia Trading IV1000 8,000
4 Bella Sdn Bhd IV1500 11,000
5 Amy Sdn Bhd IV1250 1,000
30 Transferred to purchased account in general 20,000
ledger
SALES JOURNAL
2020
Nov 6 Hana’s Kiosk IV0001 1,500
10 Husna’s Shop IV0002 1,100
18 Fashionista Trading IV0003 3,000
28 Orked’s Hijab IV0004 1,600
30 Transferred to sales account in general ledger 7,200
35
RETURN INWARD JOURNAL
2020
Nov 21 Fashionista Trading CN0001 200
30 Transferred to return inward account in 200
general ledger
RETURN OUTWARD JOURNAL

2020
Nov 9 Alia Trading CN0024 400
30 Transferred to return outward account in 400
general ledger
CASH RECEIPT JOURNAL

DATE PARTICULAR FOL DISCOUNT CASH BANK
2020 ALLOWED (RM) (RM)
Nov 1 Capital 5,000 30,000
2 Loan: Lion Bank 20,000
12 Rental Income CIB0098 1,000
13 Account Receivable: Hana’s Kiosk RT002 30 1,470

16 Sales RT003 300
17 Account Receivable: Husna’s Shop CIB0987 22 1,078
24 Sales RT005 200
26 Commission Received CIB0996 400
29 Loan: CIB Bank 10,000
30 Total 52 6,970 62,478
36
CASH PAYMENT JOURNAL
DATE PARTICULAR FOL DISCOUNT CASH BANK

2020 RECEIVED (RM) (RM)
Nov 7 Purchases CIB0001 700
8 Purchases BT0004 400
11 Account Payable: Alia Trading CIB0002 152 7,448
14 Office Equipment CIB0003 5,000
15 Account Payable: Bella Sdn Bhd CIB0004 440 10,560
19 Drawings 400
20 Computer BT0021 3,000
22 Salary CIB0005 2, 500

23 Rental Expenses CIB0006 3,000
25 Utility Bills Expenses PV0003 800
27 Repair Secondhand Car PV0004 800
30 Total 592 5,400 29,208
37
5. LEDGER FOR WAN’S HIJABSTER
CASH
DATE PARTICULAR REF DEBIT(RM) CREDIT(RM) BALANCE(RM)

2020
Nov 1 Capital 5,000 5,000
30 Total Receipt 1,970 6,970
30 Total Payment 5,400 1,570
BANK

2020
Nov 1 Capital 30,000 30,000
30 Total Receipt 32,478 62,478
30 Total Payment 29,208 33,270
SECONDHAND CAR

2020
Nov 1 Capital 20,000 20,000
FIXTURES AND FITTINGS

2020
Nov 1 Capital 12,000 12,000
38
CAPITAL

2020
Nov 1 Cash 5,000 5,000
Bank 30,000 35,000
Secondhand Car 20,000 55,000
Fixtures and Fittings 12,000 67,000
LOAN: LION BANK

2020
Nov 2 Bank 20,000 20,000
PURCHASES
2020
Nov 7 Bank CIB0001 700 700
8 Cash BT0004 400 1,100
30 Drawings 200 900
Nov30 Total credit 20,000 20,900
purchases
ACCOUNT PAYABLE: ALIA TRADING

2020
Nov 3 Purchases IV1000 8,000 8,000
9 Return outward CN0024 400 7,600
11 Bank CIB0002 7,448 152
Discount 152 0
received
39
ACCOUNT PAYABLE: BELLA SDN BHD

2020
Nov 4 Purchases IV1500 11,000 11,000
15 Bank CIB0004 10,560 440
Discount 440 0
Received
ACCOUNT PAYABLE: AMY SDN BHD

2020
Nov 5 Purchases IV1250 1,000 1,000
SALES

2020
Nov 16 Cash RT003 300 300
24 Cash RT005 200 500
30 Total credit sales 7,200 7,700
ACCOUNT RECEIVABLE: HANA’S KIOSK

2020
Nov 6 Sales IV0001 1,500 1,500
13 Cash RT002 1,470 30
Discount Allowed 30 0
40
RETURN OUTWARD

2020
Nov 30 Total return 400 400
outward
ACCOUNT RECEIVABLE: HUSNA’S SHOP
DATE PARTICULAR REF DEBIT CREDIT BALANCE

2020 (RM) (RM) (RM)
Nov 10 Sales IV0002 1,100 1,100
17 Bank CIB0987 1,078 22
Discount Allowed 22 0
DISCOUNT RECEIVED
DATE PARTICULAR REF DEBIT CREDIT BALANCE

2020 (RM) (RM) (RM)
Nov 11 Account Payable: Alia 152 152
Trading
15 Account Payable: Bella 440 592
Sdn Bhd
RENTAL INCOME

2020
Nov12 Bank CIB0098 1,000 1,000
41
DISCOUNT ALLOWED

2020
Nov13 Account Receivable: 30 30
Hana’s Kiosk
15 Account Receivable: 22 52
Husna’s Shop
OFFICE EQUIPMENT

2020
Nov14 Bank CIB0003 5,000 5,000
ACCOUNT RECEIVABLE: FASHIONISTA TRADING

2020
Nov18 Sales IV0003 3,000 3,000
21 Return Inward CN0001 200 2,800
DRAWINGS

2020
Nov 19 Cash 400 400
30 Purchases 200 600
42
COMPUTER

2020
Nov 20 Cash BT0021 3,000 3,000
RETURN INWARD

2020
Nov 30 Total return inward 200 200
SALARY

2020
Nov 22 Bank CIB0005 2,500 2,500
RENTAL EXPENSES

2020
Nov 23 Bank CIB0006 3,000 3,000
UTILITY BILLS EXPENSES

2020
Nov 25 Cash PV0003 800 800
43
COMMISSION RECEIVED

2020
Nov 26 Bank CIB0996 400 400
REPAIR SECONDHAND CAR

2020
Nov 27 Cash PV0004 800 800
ACCOUNT RECEIVABLE: ORKED’S HIJAB

2020
Nov 28 Sales IV0004 1,600 1,600
LOAN: CIB BANK

2020
Nov 29 Bank 10,000 10,000
44
6. TRIAL BALANCE FOR WAN’S HIJABSTER
WAN’S HIJABSTER
TRIAL BALANCE AS AT 30 NOVEMBER 2020
PARTICULARS DEBIT (RM) CREDIT(RM)
Bank 33,270
Cash 1,570
Purchases 20,900
Sales 7,700
Return Outward 400
Return Inward 200
Account Receivable: Fashionista Trading 2,800
Account Receivable: Orked's Hijab 1,600
Account Payable: Amy Sdn Bhd 1,000
Discount Allowed 52
Discount Received 592
Loan: Lion Bank 20,000
Loan: CIB Bank 10,000
Capital 67,000
Rental Income 1,000
Office Equipment 5,000
Drawings 600
Computer 3,000
Salary 2,500
Rental Expense 3,000
Utility Expense 800
Commision Received 400
Repair Second Hand Car 800
Second Hand Car 20,000
Fixtures and Fittings 12,000
108,092 108,092
45
7. i. FINANCIAL STATEMENTS OF PROFIT OR LOSS
WANS HIJABSTER
STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED 30 NOVEMBER 2020
RM RM
Sales 7,700
Less: Return inward -200
Discount allowed -52
Net sales 7,448
Less: Cost of good sold

Add: Purchase 20,900
Less: Return outward -400
Discount received -592
Less: Closing inventories -16,740
Cost of sales -3,168
Gross Profit 4,280
Add: Other incomes

Rental income 1,000
Commission received 400 1,400
Less: Expenses
Salary 2,500
Rental expenses 3,000
Utility expenses 800
Repair second hand car 800 -7,100
Net Loss -1,420
46
7. ii. STATEMENTS OF FINANCIAL POSITION
WANS HIJABSTER
STATEMENT OF FINANCIAL POSITION AS AT 30 NOVEMBER 2020
RM RM RM
Net Book
Cost Acc. Depre Value
Non-current Assets
Office equipment 5,000 5,000
Second hand car 20,000 20,000
Fixtures and fittings 12,000 12,000
Computer 3,000 3,000
40,000
Current Assets
Closing inventories 16,740
Cash in bank 33,270
Cash in hand 1,570
Account receivable (2,800 + 1,600) 4,400 55,980
TOTAL ASSET 95,980
Owner's Equity
Capital 67,000
Add: Loss (-) -1,420
Less: Drawing -600 64,980
Non-current Liabilities
Loan: Lion Bank 20,000
Loan: CIB Bank 10,000 30,000
Current Liabilities
Account payable 1,000
95,980
TOTAL OWNER EQUITY AND LIABILITIES
47
48

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ACCOUNTING SIMULATION REPORT

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COURSE:

FINANCIAL ACCOUNTING 1 (FAR110)

NAME STUDENT I/D

MADAM SULIZA BINTI SUHAIMIN

1. Background Of The Business 1

2. Transaction Of The Business 2-4

1. NAME OF THE BUSINESS WAN’S HIJABSTER

3. ADDRESS B-12, Jalan Teruntum 1,

4. TYPE OF BUSINESS Sole proprietorship

5. ACTIVITY OF THE BUSINESS Sell shawl, square scarf, inner, brooch

6. ACCOUNTING PERIOD 1 November 2020 - 31 October 2020 (annually)

7. RECORD PERIOD 1 November 2020 – 30 November 2020

9. BUSSINESS STATUS Starting the business

DATE BUSINESS’ TRANSACTION DOCUMENT

2020 Starting the business by brought in the capital as follows: MEMO

2 Made a loan from Lion Bank amounting to RM 20,000 by cheque. MEMO

19 The owner took RM 400 cash for personal use. MEMO

29 Made a loan from CIB Bank amounting RM 10,000 by cheque. MEMO

30 The closing inventories at 30 November 2020 is RM 16,740.

Starting the business by brought in the capital as follows :

Second Hand Car RM 20000.00

Fixtures and Fittings RM 12000.00

Made a loan from Lion Bank amounting to RM 20,000.00 by cheque

Date : 3 NOV 2020

Particular Quantity Price Total

Square Hijab 200 40.00 8000.00

Bella Sdn Bhd

Date : 4 NOV 2020

Particular Quantity Price Total

Shawl 200 55.00 11000.00

Amy Sdn Bhd

Date : 5 NOV 2020

Particular Quantity Price Total

Inner 100 10.50 1050.00

Date : 6 NOV 2020

Particular Quantity Price Total

Shawl 5 100.00 500.00

Square Hijab 12 80.00 960.00

Inner 2 20.00 40.00

Tarikh : 7 November 2020

Butir Kuantiti Harga Jumlah

Square Hijab 20 35.00 700.00

Cash / Cheque no : CIB0001

Date : 8 November 2020

Particular Quantity Price per Total

Brooch 100 4.00 400.00

Date : 9 November 2020

Your account have been credited

Square Hijab 10 40.00 400.00

Date : 10 NOV 2020

Particular Quantity Price Total

Inner 5 20.00 100.00

Receiver : Alia Trading

Because : Invoice no. IV1000

Balance b/f 49300 00

This cheque 7448 00

Balance c/f 41852 00

Cheque no. : CIB0002

Date : 12 November 2020

Received from : ENCIK ABU

Ringgit Malaysia : One thousand only

Payment for : Rental income

Date : 13 November 2020