[Text Box]

UNIVERSITI TEKNOLOGI MARA

ACCOUNTING SIMULATION

COURSE : FINANCIAL ACCOUNTING 1

COURSE CODE : FAR110

Class : JAC1101A

Group members:

No. Student’s ID Name

1. 2022130033 NURIN ARISYAH BINTI AMIR HAMZAH
2. 2022191889 NAJIA ILISA BINTI ABD RAZAK
3. 2022703803 IZZATUL ATIQAH BINTI RIZUA IZAM

Marks Score
Introduction/ background 10
Transactions & source documents 20
Recording to journal 20
Ledgers 20
Trial balance 10
Financial statements 20

Total 100
BUSINESS PROFILE

Rossa Co. Boutique

Nurin sets up a business selling branded clothing at Midvalley Mall on 1 June 2021. Goes by
the name “Rossa Co. Boutique”. Both the founder and the owner of the boutique are Nurin
herself. She works with her other 3 employees who will handle the stocks and customers
meanwhile, she handles the business’ account.

Business Name Rossa Co. Boutique

Owner Nurin Arisyah

Business Address 2nd Floor, Lingkaran Syed Putra, Mid Valley

City, 59200 Kuala Lumpur, Wilayah
Persekutuan Kuala Lumpur

Type of business Sole-proprietorship

Accounting Period 1st June 2021 – 30th June 2021

Cik Nurin, an owner of a clothing store at Midvalley, just started her business. The
following are transactions of Rossa Co. Boutique for the month of June 2021.

TRANSACTIONS
No Date Transaction
1. June 1 Cik Nurin started the business with RM10,000 cash, RM80,000 in the bank
account and shop furniture worth RM5,000.
2. 2 Received an invoice worth RM6,000 from Rico Enterprise with credit terms of
5/10, n30.
3. 2 Purchased goods worth RM3,000 from Faz Outlet and paid by cash.
4. 3 Sold goods worth RM8,000 to Clothing Enterprise on credit.
5. 4 Sold goods on cash Zash Outlet RM5,000.
6. 5 Purchased a rack with cheque worth RM500.
7. 6 Paid Rico Enterprise by cheque for the settlement of its account.
8. 6 Issued an invoice to Zara Sdn. Bhd. For goods sold worth RM80,000.
9. 7 Paid electricity bills amounting RM200.
10. 8 Paid RM500 for rental by cash.
12. 9 Received commission amounting RM3,000 by cash.
13. 10 Made a loan from Ah Meng Bank amounting RM7,500.
14. 11 Withdraws goods worth RM200 and cash RM200 for personal use.
15. 11 Rental received amounting RM800 by cash.
16. 12 Made a loan from YOI Bank amounting RM5,000.
17. 13 Van repair expenses by cheque amounting RM250.
18. 15 Paid the worker salary RM1,500 by cheque.
19. 15 Purchased goods worth RM10,000 on credit from clothing dealer, ACD
Clothing.
20. 16 Purchased goods RM650 from Youngster Outlet by cash.
21. 17 An invoice with a value of RM3,500 was issued to Najia Enterprise for sales of
5 units of Baju Kurung Sutera. The credit term granted was 2/15, n30.

22. 17 Sold goods on cash to Jelita Enterprise RM2,000.

23. 18 Purchased a secondhand van amounting RM500.
24. 20 Najia Enterprise returned the Baju Kurung Sutera worth of RM300 due to
faulty.
25. 22 Najia Enterprise settled its account by cheque.
26. 23 Received an invoice with amount of RM5,000 from Uniqlo Clothing for
purchasing varities clothes. A credit term 10/15, n30 given.
27 24 Issued an invoice to Izzatul Enterprise for sales of 2 units of T-Shirt amounting
to RM2,000. The credit term was 2/5, n30.
28 27 Returns clothes amounting RM200 to Uniqlo Clothes.
29 27 Izzatul Enterprise settled its account by cheque.
30. 29 Paid to Uniqlo Clothes settled its account by cheque.
Journals
GENERAL JOURNAL
Date Particulars Ref DR (RM) CR (RM)
June 1 Cash CS001 10,000
Bank BK001 80,000
Furniture FN010 5,000
Capital CP001 95,000
5 Rack RK011 500
Bank BK001 500
11 Drawings DW001 200
Purchase PC001 200
18 Secondhand Van SV012 500
Cash CS001 500

PURCHASE JOURNAL
Date Particulars Ref Invoice No Amount (RM)

June 2 AP-Rico Enterprise AP011 INV 111 6,000

15 AP-ACD Clothing AP012 INV 112 10,000

23 AP-Uniqlo Clothing AP013 INV 113 5,000

PURCHASE RETURN JOURNAL

Date Particulars Ref Debit Note Amount (RM)
June 27 AP-Uniqlo Clothing AP013 DN 013 200

CASH RECEIPT JOURNAL

Date Particulars Ref Discount Bank (RM) Cash (RM)
Allowed
(RM)
June 4 Sales SL001 5,000
9 Commision CM001 3,000
10 AP-Ah Meng Bank AP014 7,500
11 Rental Received RR001 800
12 AP-YOI Bank AP015 5,000
17 Sales SL001 2,000
22 AR-Najia Enterprise AR003 64 3,136
27 AR-Izzatul Enterprise AR004 40 1,960
CASH PAYMENT JOURNAL
Date Particulars Ref Discount Bank (RM) Cash (RM)
Received
(RM)
June 2 Purchase PC001 3,000
6 AP-Rico Enterprise AP011 300 5,700
7 Electricity Bills EB001 200
8 Rental RN001 500
11 Drawings DW001 200
13 Van Repair VR001 250
15 Salary SA001 1,500
16 Purchase PC001 650
29 AP-Uniqlo Clothing AP013 480 4,320

SALES JOURNAL
Date Particulars Ref Invoice No Amount (RM)
June 3 AR-Clothing Enterprise AR001 INV 010 8,000
6 AR-Zara Sdn. Bhd. AR002 INV 011 80,000
17 AR-Najia Enterprise AR003 INV 012 3,500
24 AR-Izzatul Enterprise AR004 INV 013 2,000

SALES RETURN JOURNAL

Date Particulars Ref Debit Note Amount (RM)
June 20 AR-Najia Enterprise AR003 DN 003 300

Bank
Date Particulars DR CR Balance
June 1 Capital 80,000 80,000
5 Rack 500 79,500
6 AP-Rico Enterprise 5,700 73,800
10 AP-Ah Meng Bank 7,500 81,300
12 AP-YOI Bank 5,000 86,300
13 Van repair 250 86,050
15 Salary 1,500 84,550
22 AR-Najia Enterprise 3,136 87,686
27 AR-Izzatul Enterprise 1,960 89,646
29 AP-Uniqlo Clothing 4,320 85,326
 Furniture
Date Particulars DR CR Balance
June 1 Capital 5,000 5,000

Capital
Date Particulars DR CR Balance
June 1 Bank 80,000 80,000
Furniture 5,000 85,000
Cash 10,000 95,000

Purchase
Date Particulars DR CR Balance
June 2 AP-Rico Enterprise 6,000 6,000
2 Cash 3,000 9,000
11 Drawings 200 8,800
15 AP-ACD Clothing 10,000 18,800
16 Cash 650 19,450
23 AP-Uniqlo Clothing 5,000 24,450

Page Break
AP-Rico Enterprise
Date Particulars DR CR Balance
June 2 Purchase 6,000 6,000
6 Bank 5,700 300
Discount received 300 0

Cash
Date Particulars DR CR Balance
June 1 Capital 10,000 10,000
2 Purchase 3,000 7,000
4 Sales 5,000 12,000
7 Electricity bills 200 11,800
8 Rental 500 11,300
9 Commission received 3,000 14,300
11 Drawings 200 14,100
11 Rental received 800 14,900
16 Purchase 650 14,250
17 Sales 2,000 16,250
18 Secondhand Van 500 15,750
 Sales
Date Particulars DR CR Balance
June 3 AR-Clothing Enterprise 8,000 8,000
4 Cash 5,000 13,000
6 AR-Zara Sdn. Bhd. 80,000 93,000
17 AR-Najia Enterprise 3,500 96,500
17 Cash 2,000 98,500
24 AR-Izzatul Enterprise 2,000 100,500

AR-Clothing Enterprise
Date Particulars DR CR Balance
June 3 Sales 8,000 8,000

Rack
Date Particulars DR CR Balance
June 5 Bank 500 500

Discount Received
Date Particulars DR CR Balance
June 6 AP-Rico Enterprise 300 300
29 AP-Uniqlo Clothing 480 780

AR-Zara Sdn. Bhd.

Date Particulars DR CR Balance
June 6 Sales 80,000 80,000

Electricity Bills
Date Particulars DR CR Balance
June 7 Cash 200 200

Rental
Date Particulars DR CR Balance
June 8 Cash 500 500

Commission received
Date Particulars DR CR Balance
June 9 Cash 3,000 3,000

AP-Ah Meng Bank

Date Particulars DR CR Balance
June 10 Bank 7,500 7,500
 Drawings
Date Particulars DR CR Balance
June 11 Purchase 200 200
11 Cash 200 400

Rental Received
Date Particulars DR CR Balance
June 11 Cash 800 800

AP-YOI Bank
Date Particulars DR CR Balance
June 12 Bank 5,000 5,000

Van Repair
Date Particulars DR CR Balance
June 13 Bank 250 250

Salary
Date Particulars DR CR Balance
June 15 Bank 1,500 1,500

AP-ACD Clothing
Date Particulars DR CR Balance
June 15 Purchase 10,000 10,000

AR-Najia Enterprise
Date Particulars DR CR Balance
June 17 Sales 3,500 3,500
20 Sales return 300 3,200
22 Bank 3,136 64
Discount allowed 64 0
 Secondhand Van
Date Particulars DR CR Balance
June 18 Cash 500 500

Sales return
Date Particulars DR CR Balance
June 20 AR-Najia Enterprise 300 300

AP-Uniqlo Clothing
Date Particulars DR CR Balance
June 23 Purchase 5,000 5,000
27 Purchase Return 200 4,800
29 Bank 4,320 480
Discount Received 480 0

AR-Izzatul Enterprise
Date Particulars DR CR Balance
June 24 Sales 2,000 2,000
27 Bank 1,960 40
Discount Allowed 40 0

Purchase Return
Date Particulars DR CR Balance
June 27 AP-Uniqlo Clothing 200 200

Discount Allowed
Date Particulars DR CR Balance
June 22 AR-Najia Enterprise 64 64
27 AR-Izzatul Enterprise 40 104
 Rossa Co. Boutique Trial Balance as at 30th JUNE 2021

Accounts DR CR

Bank 85,326

Furniture 5,000

Capital 95,000

Purchase 24,450

Cash 15,750

Sales 100,500

AR-Clothing Enterprise 8,000

Rack 500

Discount received 780

AR-Zara Sdn. Bhd. 80,000

Electricity Bills 200

Rental 500

Commission Received 3,000

AP-Ah Meng Bank 7,500

Drawings 400

Rental received 800

AP-YOI Bank 5,000

Van Repair 250

Salary 1,500

AP-ACD Clothing 10,000

Secondhand Van 500

Sales return 300

Purchase return 200

Discount allowed 104

222,780 222,780
 Rossa Co. Boutique
Statement of Profit or Loss for the year ended 30th JUNE 2021

RM RM RM
Sales 100,500
Less: Sales return (300)
Less: Discounts allowed (104) (404)
Net sales 100,096

Less: Cost of goods sold (COGS)

Add: Purchases 24,450

Less: Purchases return (200)
Less: Discounts received (780)
Net purchases 23470
Cost of goods available for sale (23470)
Cost of goods sold (COGS) (23470)
GROSS PROFIT RM 76,626

Add: Revenue
Commission received 3,000
Rental revenue 800 3,800

Less: Operating Expenses

Electricity bills (200)

Rental (500)
Van repair (250)
Salary (1,500) (2450)

NET INCOME/(NET LOSS) RM 77,976

 Rossa Co. Boutique
Statement of Financial Position for the year ended 30th JUNE 2021

Cost (RM) Accumulated Carrying

Depreciation Value (RM)
(RM)

NON-CURRENT ASSETS

Furniture 5,000
Rack 500
Secondhand van 500 6,000

CURRENT ASSETS
Accounts receivable 88,000
Bank 85,326
Cash 15,750 189,076
TOTAL ASSETS RM 195,076

Financed by:
Owner’s equity
Capital 95,000
Add: Net Income (Net loss) 77,976
Less: Drawings (400) 172,576

CURRENT LIABILITIES
Accounts payable 22,500

TOTAL LIABILITIES AND EQUITIES RM 195,076