FACULTY OF PLANTATION AND AGRICULTURE

DIPLOMA IN PLANTING INDUSTRY MANAGEMENT

(AT110)

INTRODUCTION TO FINANCIAL ACCOUNTING AND

REPORTING

(ACC106)

PREPARED BY:
AZZARINA BINTI RAHIM (2019445282)

AZIZAH SHAKILA BINTI MUNAWIR (2019647146)

NUR ARINA BINTI ZAINAL ABIDIN (2019272714)

NUR ATIEQA AQILA BINTI AMINUDDIN (2019205786)

NUR NALIESSA SHAFIEQA BINTI MAT DALIM (2019280186)

ZAHIRAH AMIRAH BINTI ZAMZURI (2019255496)

GROUP: AT1103F

PREPARED FOR: MADAM NUR HANI ITHANIN

SUBMITTED ON: WEEK 13

CONTENT

NO. PARTICULAR

1. Introduction of business

2. Transaction

3. Journal

4. Ledger

5. Trial balance
1. INTRODUCTION OF BUSINESS
Name of business AGRIECO STORE

Place/location of
Business

97, Jalan SS 1/36, Kampung Tunku, 46100, Petaling Jaya,

Selangor Darul Ehsan.
Operation hours 8:00 AM - 5:00 PM (Off on Sunday)

Business activities Sales of agricultural tools and materials

Capital contribution RM50, 000

Financial year end 31 December 2020

Selected month for the August 2020

Transaction
2. TRANSACTION

The following are the business transactions in August 2020:

DATE TRANSACTION

August Started the business with bank RM25,000, cash RM10,000, and
1 premises RM15,000 respectively into the business.

2 The business purchased goods from Farmtrac Malaysia Sdn Bhd on

credit amounting to RM12,000.

4 Sold goods to Salmah amounting RM3,000 on credit.

5 Bought office equipment by cash from Jaya Jati Furniture worth

RM3,500.

7 Sold goods to Azrin on credit worth RM3,200.

8 Paid water and electricity bills by cash RM2,500.

10 Bought a computer from TechMart Sdn Bhd paid by cheque

amounting to RM1500.

12 Return faulty goods that worth RM3,000 to Farmtrac Malaysia Sdn

Bhd.
14 Paid Farmtrac Malaysia Sdn Bhd by cheque and received a 15%
discount.
15 Salmah returned damaged goods worth RM1050.

18 Purchased goods worth RM11,550 on credit from Hening Trading

Sdn Bhd.

19 Goods returned by Salmah worth RM450.

20 The business purchased goods from Petani Moden in cash RM6,000.

Sold goods worth RM2,000 by cash.

22 The owner withdrawn goods worth RM600 for her son’s birthday
party.
23 Purchased goods worth RM10,000 on credit from GreenFarm
Trading.
24 Salmah paid the amount due in full by cheque with RM60 discount
allowed.
Sold goods to Maznah amounting RM2,700 by cheque.

25 The owner took goods worth RM950 for personal use.

26 Faulty goods returned by Azrin worth RM270.

The business returned defective goods to GreenFarm Trading worth
RM2,415.

27 Purchased RM2,700 of stock by cash from Farming Store.

28 Rental payment received worth RM1,700 by cash.

30 Paid salary workers RM3,570 by cheque.

Commission sales received by cash RM1,200

31 Sold goods on credit RM1,600 to Zaki.

3. JOURNAL

General Journal
DATE DETAILS DEBIT CREDIT
(RM) (RM)
2020
Aug 1 Bank 25,000
Cash 10,000
Premises 15,000
Capital 50,000
(Started the business with bank, cash and
premises)
5 Office equipment 3,500
Cash 3,500
(Bought office equipment by cash from
Jaya Jati Furniture)
10 Computer 1,500
Bank 1,500
(Bought computer by cheque from Tech
Mart Sdn Bhd)
22 Drawings 600
Purchases 600
(Owner withdrawn goods for her son’s
birthday party)
25 Drawings 950
Purchases 950
(Took goods for personal use)
 Sales Journal
DATE PARTICULAR AMOUNT
(RM)
2020
Aug 4 Salmah 3,000
7 Azrin 3,200
24 Maznah 2,700
Total 8,900

Purchases Journal
DATE PARTICULAR AMOUNT
(RM)
2020
Aug 2 Farmtac Malaysia Sdn Bhd 12,000
18 Hening Trading Sdn Bhd 11,550
23 GreenFarm Trading 10,000
Total 33,550

Return Inwards Journal

DATE PARTICULAR AMOUNT
(RM)
2020
Aug 15 Salmah 1050
19 Salmah 450
26 Azrin 270
Total 1,770

Return Outwards Journal

DATE PARTICULAR AMOUNT
(RM)
2020
Aug 12 Farmtac Malaysia Sdn Bhd 3,000
26 Green Farm Trading 2,415
Total 5,415
 Cash Receipts Journal
DATE PARTICULAR DISCOUNT BANK CASH
ALLOWED (RM) (RM)
2020
Aug 20 Sales 2,000
24 Salmah 60 1,440
Maznah 2,700
28 Rental payment received 1,700
30 Commission Received 1,200
Total 60 4,140 4,900

Cash Payments Journal

DATE PARTICULAR DISCOUNT BANK CASH
RECEIVED (RM) (RM)
2020
Aug 8 Water and electricity bills 2,500
14 FarmTrac Malaysia Sdn Bhd 1,350 7,650
20 Petani Moden 6,000
27 Farming store 2,700
30 Salary worker expenses 3,570
Total 1,350 11,220 11,200
4. LEDGER

Bank a/c
DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 1 Capital 25,000 Aug 10 Computer 1,500
24 Salmah 1,440 14 Farmtrac 7,650
Sales 2,700 Malaysia Sdn
Bhd
30 Salary expenses 3,570
31 Bal c/d 16,420
29,140 29,140
Sep 1 Bal b/d 16,420

Cash a/c
DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 1 Capital 10,000 Aug 5 Office
20 Sales 2,000 3,500
equipment
28 Rental payment 1,700 8 Water and 2,500
received electricity
30 Commission 1,200 20
Purchases 6,000
received 27
Purchases 2,700
31
Bal c/d 200
14,900 14,900
Sep 1 Bal b/d 200

Capital a/c
DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 31 Bal c/d 50,000 Aug 1 Bank 25,000
Cash 10,000
Premises 15,000
50,000 50,000
Sep 1 Bal b/d 50,000
 Premises a/c
DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 1 Capital 15,000 Aug 31 Bal c/d 15 000

15,000 15,000
Sep 1 Bal b/d 15,000

Office Equipment a/c

DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 5 Cash 3,500 Aug 31 Bal c/d 3,500

3,500 3,500
Sep 1 Bal b/d 3,500

Computer a/c
DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 10 Bank 1,500 Aug 31 Bal c/d 1,500

1,500 1,500
Sep 1 Bal b/d 1,500

Drawings a/c
DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 22 Purchases 600 Aug 31 Bal c/d 1,550
25 Purchases 950
1,550 1,550
Sep 1 Bal b/d 1,550
 Purchases a/c
DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 2 Aug 22 Drawings 600
Farmtrac
Malaysia Sdn. 12,000 25 Drawings 950
Bhd 31 Bal c/d 40,700
18 Hening
11,550
Trading
Sdn. Bhd
20 Cash 6,000
23 GreenFarm 10,000
Trading
27 Cash 2,700

42,250 42,250
Sep 1 Bal b/d 40,700
Farmtrac Malaysia Sdn Bhd a/c
DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 12 Return 3,000 Aug 2 Purchases 12,000
Outwards
Discount 1,350
14
received
14 Bank 7,650
12,000 12,000

Hening Trading Sdn Bhd a/c

DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 31 Bal c/d 11,550 Aug 18 Purchases 11,550

11,550 11,550
Sep 1 Bal b/d 11,550
 GreenFarm Trading a/c
DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 26 Return Aug 31
2,415 Purchases 10,000
Outwards
31 Bal c/d 7,585
10,000 10,000
Sep 1 Bal b/d 7,585

Sales a/c
DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 31 Bal c/d 12,500 Aug 4 Salmah 3,000
7 Azrin 3,200
20 Cash 2,000
24 Bank 2,700
31 Zaki 1,600
12,500 12,500

Sep 1 Bal b/d 12,500

Salmah a/c
DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 4 Sales 3,000 Aug 15 Return inwards 1,050
19 Return inwards 450
24 Discount 60
Allowed
24 Bank 1,440

3,000 3,000
 Azrin a/c
DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 7 Sales 3,200 Aug 26 Return Inwards 270
31 Bal c/d 2,930
3,200 3,200
Sep 1 Bal b/d 2,930

Zaki a/c
DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 31 Sales 1,600 Aug 31 Bal c/d 1,600
1,600 1,600
Sep 1 Bal b/d 1,600

Return Outwards a/c

DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 31 Bal c/d 5,415 Aug 12 Farmtrac 3,000
Malaysia Sdn
Bhd
26 Green Farm 2,415
Trading
5,415 5,415
Sep 1 Bal b/d 5,415
Return Inwards a/c
DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 15 Salmah 1,050 Aug31 Bal c/d 1,770
19 Salmah 450
26 Azrin 270

1,770 1,770
Sep 1 Bal b/d 1,770
 Water and Electricity Bills a/c
DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 8 Cash 2,500 Aug 31 Bal c/d 2,500

2,500 2,500
Sep 1 Bal b/d 2,500

Salary Worker Expenses a/c

DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 30 Bank 3,570 Aug 31 Bal c/d 3,570

3,570 3,570
Sep 1 Bal b/d 3,570

Rental Payment Received a/c

DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 31 Bal c/d 1,700 Aug 28 Cash 1,700

1,700 1,700
Sep 1 Bal b/d 1,700

Commission Received a/c

DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 31 Bal c/d 1,200 Aug 30 Cash 1,200

1,200 1,200
Sep 1 Bal b/d 1,200
 Discount Received a/c
DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 31 Bal c/d 1350 Aug 14 Farmtrac 1350
Malaysia Sdn
Bhd

1350 1350
Sep 1 Bal b/d 1350

Discount allowed a/c

DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
(RM) (RM)
2020 2020
Aug 24 Salmah 60 Aug 31 Bal c/d 60

60 60
Sep 1 Bal b/d 60
 5. TRIAL BALANCE
AGRIECO STORE
Trial Balance as at 31 August 2020
DETAILS DEBIT(RM) CREDIT(RM)
Bank 16,420
Cash 200
Premises 15,000
Capital 50,000
Office equipment 3,500
Computer 1,500
Drawing 1,550
Purchases 40,700
Hening Trading SDN BHD 11,550
GreenFarm Trading 7,585
Sales 12,500
Azrin 2,930
Zaki 1,600
Return Outwards 5,415
Return Inwards 1,770
Water and Electricity Bills 2,500
Salary Worker Expenses 3,570
Rental Payment Received 1,700
Commission Received 1,200
Discount Received 1,350
Discount Allowed 60
TOTAL 91,300 91,300