Background of the Business

Honey Bites Bakery is owned by Bianka Shania.She decided to run a business that sells
various types of cakes on 1 July 2020. She introduced RM 60,000 to the business as capital.

1 Name of the Business Honey Bites Bakery

2 Name of Owner Bianka Shania
3 Business Address Ground Floor,Imago Shopping Mall,
88100 Kota Kinabalu,Sabah.
4 Business Activities Selling different types of cake
5 Capital Contribution RM 60,000
6 Financial Year End 2020
7 Month of Transaction 1 July 2020
Business Transactions
Date Particulars
July 1 Miss Bianka Shania brought in RM 60,000 cash as initial capital
July 3 RM 2000 was paid in cash by the owner for the installation of a cash
register machine
July 4 The business bought 10kg of wheat flour worth RM 100 from Bane’s
Big Supplies with credit term of 2/10,n/30.
July 5 Tally Ho Cakery sent an invoice for 5kg chocolate powder and 9kg
special ice cream filling totaling RM350 and RM 600
respectively,with credit term of 3/15,n/30.
July 6 An RM300 debit note was issued by the business to Crème de la
Crème Sdn Bhd for the return of goods
July 7 Obtained RM50,000 loan from Maybank for property mortgage worth
RM60,000
July 8 Linda Bakes Sdn Bhd sold 8kg white flour to owner for RM300 cash
July 10 Jolly Good Cake Shop,which just opened recently, paid for RM 300
worth of goods
July 11 The business took advantage of the offered discount and paid Bane’s
Big Supplies in full.
July 13 The business issued an invoice for:
a)RM250 for all purpose flour to Muffin Drop
b)Kak Long Sdn Bhd for RM100 per kg for 2.5kg Semolina flour
- Both have credit term of 3/15,n/30
July 14 The business sent an invoice to Brakka Bites for 4kg of Chocolate
Cake and 3kg ice cream cake worth RM500,with credit term of
2/15,n/30.
July 15 Miss Cecilia paid RM200 cash for 2kg of blackberry cake.
July 16 -The business received an RM700 cash commission
July 17 Owner used cheque to purchase a used van worth RM3500
July 18 An invoice was issued by the business to Sugar Rush Confectionary
Sdn Bhd for 6kg Chesse Cake and 5kg Chocolate Delight Cake
totalling RM800
July 19 The owner paid RM 400 by cheque for advertising expenses.
July 20 The business received cash settlements from Kak Long Sdn Bhd and
Brakka Bites on the same day.Both shops received a discount from the
business.
July 21 Sugar Rush Confectionary issued a RM 300 debit note because the
cakes were somewhat damaged when received.
July 22 Miss Bianka paid RM 450 in cash for the electricity bill.
July 24 The business paid RM 300 on credit for 3kg chocolate chips and 3kg
sprinkles purchased from Sweet Treats Bakery with a credit term of
3/10,n/15.
July 26 The business paid RM 50 for 2kg of unsalted butter.
July 27 The owner took RM600 in cash and RM200 in goods to celebrate
sisters birthday.
July 29 The business received a cheque for RM 600 in rental income.
July 31 Miss Bianka paid the phone bill worth RM100 in cash and RM1000 in
cash for the salary of her 4 employees.