UNIVERSITI TEKNOLOGI MARA

PERMATANG PAUH
PULAU PINANG

FACULTY

FACULTY OF HOTEL & TOURISM MANAGEMENT

SUBJECT:
ACC117 - INTRODUCTION TO FINANCIAL ACCOUNTING

COMPANY’S NAME:
WAFFLE HOUSE

PREPARED FOR:

DR. NOR KHADIJAH BINTI MOHD AZHARI

LECTURER

PREPARED BY :

NAME MATRIX NUMBER

FARAH IZZANI BINTI IBRAHIM 2022931451

NURIN KAMILIA BINTI RAMLAN 2022152095

NUR AZWANIZA BINTI NORAZMAN 2022715501

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 TABLE OF CONTENT

NO. CONTENT PAGE

1. INTRODUCTION 3

2. BUSINESS BACKGROUND 4

3. BUSINESS TRANSACTIONS 5-6

4. JOURNALS 7 - 10

5. LEDGERS 11 - 16

6. TRIAL BALANCE 17

7. CONCLUSION 18

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 INTRODUCTION

Waffle House is a sole proprietorship business in Permatang Pauh. The business started with a
cost of RM10,000. This company was established for the purpose of satisfying the need for
pastries in Permatang Pauh. On top of that, we want to guarantee that everyone who purchases
this business will be satisfied with it. In order to accomplish all of this, we pay attention to our
financial accounting and report it in order to evaluate the condition of our money coming in and
going out. This will achieve commercial profit objectives.

Some of the business companies we had transactions with are Wawa Trading, Kedai Peah,
Karina Food Trading, Ecah Market, Minghao Furniture and Zus Trading.

This report will be counted for one month which is October. All the transactions that have been
done will be recorded here to identify whether the business made a profit or loss for the month.
The other purpose of this report is to avoid misleading financial statements.

Lastly, our financial accounting and reporting will help the business to know the financial position
in which the business is in loss or profit as well as giving the owner of the business to plan with
its current financial position.

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 BUSINESS BACKGROUND

NAME OF THE BUSINESS WAFFLE HOUSE

PLACE OF BUSINESS PERMATANG PAUH

BUSINESS ACTIVITY FOOD AND BEVERAGES

- Waffles

CAPITAL CONTRIBUTION CASH - RM6,000

FURNITURE - RM4,000
TOTAL - RM10,000

FINANCIAL YEAR ENDED 30 SEPTEMBER 2021

TRANSACTION FOR THE MONTH OF OCTOBER

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 BUSINESS TRANSACTION FOR ONE MONTH

Nini Enterprise owned by Puan Farah is in the business of selling waffles. The following are
transactions of Nini Enterprise for the month of October 2023.

OCTOBER TRANSACTIONS BOOK OF PRIME

2023 ENTRY

1 Farah invested RM6,000 cash as capital to run the business Cash Receipt
operation. Journal

3 Farah brought her home chiller valued RM4,000 into the General Journal
business.

4 Purchased waffle maker RM10,200 on credit from Wawa General Journal

Trading. (INV001)

6 Purchase 10kg of butter on credit from Kedai Peah, a Purchase Journal

grocery shop amounting RM100 (INV002)

7 Sold 3 strawberry waffles to Nurin in cash worth RM15. Cash Receipt

(INV003) Journal

8 Received invoice amounted RM1,000 from Meen Enterprise Purchase Journal

for waffle jam purchase on credit. (INV004)

9 Issued invoice amount RM800 for waffles sold on credit to Sales Journal
PAUH SDN BHD.(INV005)

10 Returned damaged jam worth RM600 to Meen Enterprise. Return Outward

(CN005) Journal

12 Pauh Sdn Bhd was dissatisfied with the quality of 110 packs Return Inwards
of the waffles sold, which cost RM300, and returned them to Journal
the business.(CN105)

14 Purchased KitchenAid mixer from Minghao Furniture General Journal

amounting RM3,000 on cash.

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15 Paid utility bill on cash RM100. Cash Payment
Journal

16 Returned 5kg of butter which had expired, to Kedai Peah. Return Outward
Amounting RM50 (CN111) Journal

18 Made credit sales worth RM2,000 of peanut and chocolate Sales Journal
waffles to Jeno. (INV006)

19 Pauh Sdn Bhd paid amount due RM500 on credit. (INV007) Sales Journal

20 Received cash commission of RM50 from Karina Food Cash Receipt

Trading for putting cookies at the store. Journal

22 Nini took 100 waffles for her family gathering amounting General Journal
RM500

23 Obtain loan from the bank amounted RM30,000 for business Cash Payment
expansion. Journal

24 Purchased goods RM100 from Ecah Market Enterprise on Cash Payment

cash. (INV008) Journal

25 Sold goods on credit RM800 to Athin. (INV021) Sales Journal

27 Sales returned by Athin amounted to RM100. (CN120) Return Inward

Journal

28 Purchase goods worth RM300 on cash from Zus Trading Cash Payment
(INV 010)

29 Rental paid by Kak Roy amounted RM10,700 on cheque Cash Receipt

Journal

30 Puan Farah took RM100 cash from the business for her own Cash Payment
use. Journal

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 JOURNAL

GENERAL JOURNAL

DATE PARTICULARS DEBIT (RM) CREDIT (RM)

OCT 2022

2 Chiller 4,000

Capital 10,000

4 Waffle maker 10,200

Account Payable 10,200

14 Kitchen Aid 3,000

Account Payable 1,300

22 Drawings 500

Purchase 500

(Took goods from inventory)

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PURCHASE JOURNAL

DATE PARTICULARS Invoice No. AMOUNT (RM)

2022 OCT

6 Kedai Peah INV002 100

8 Meen Enterprise INV004 1,000

24 Ecah Enterprise INV008 100

31 PURCHASE ACC (DR) 1,200

SALES JOURNAL

DATE PARTICULARS INVOICE NO. AMOUNT (RM)

2022 OCT

9 Pauh Sdn Bhd INV005 800

18 Peanut and Chocolate waffles INV006 2,000

19 Pauh Sdn Bhd INV007 500

25 Athin INV021 800

31 SALES ACC (CR) 4,100

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RETURN INWARDS JOURNAL

DATE PARTICULARS INVOICE NO. AMOUNT (RM)

2022 OCT

12 Pauh Sdn Bhd CN105 300

27 Athin CN120 100

31 RETURN INWARD ACC (DR) 400

RETURN OUTWARDS JOURNAL

DATE PARTICULARS INVOICE NO. AMOUNT (RM)

2022 OCT

10 Meen Enterprise CN005 600

16 Kedai Peah CN111 50

31 RETURN OUTWARD ACC 650

(CR)

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 CASH PAYMENT

DATE TRANSACTION FOLIO CASH BANK DISCOUNT ACCOUNT PURCHASES OTHER

OCT 2022 (RM) (RM) RECEIVED PAYABLE (RM) ACCOUNTS
(RM) (RM) (RM)

15 Utility 100 100

23 Loan 30,000 30,000

28 Zus 300 300

30 Farah 100 100

CASH RECEIPT JOURNAL

DATE TRANSACTION FOLIO CASH BANK DISCOUNT ACCOUNT SALES OTHER

OCT 2022 (RM) (RM) RECEIVED PAYABLE (RM) ACCOUNTS
(RM) (RM) (RM)

1 Capital 10,000 10,000

7 Strawberry 15 15
waffles

20 Commission 50 50

29 Rental 10,700 10,700

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LEDGER

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14
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 WAFFLE HOUSE
TRIAL BALANCE AS AT 31 OCTOBER 2023

TRANSACTIONS DEBIT CREDIT

RM RM

Capital 10,000

Furniture 4,000

Waffle maker (machine) 10,200

Sales 2,815

Purchase 8,500

Cash 2,765

Bank 35,000

Return Inwards 400

Return Outwards 650

Account Payable 4,950

Account Receivable 1200

Loan 50,000

Utility 100

Rent Expenses 10,700

Commissions 5050

Drawings 600

TOTAL 73 465 73 465

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 CONCLUSION

In conclusion, accounting is one of the most crucial parts in order to run a business
properly every day. Accounting can be defined as the art of classifying, recording,
summarizing transactions and business events in monetary terms and interpreting and
communicating the results to interested parties to enable us to make decisions. In
addition, there are six steps in accounting cycles to make a sole proprietorship business
report which are business background, transaction, journals, ledgers and trial balance.
Every team member has recorded each of the accounting cycles in this report.
However, every team member has their own task and ordeal while preparing this
business report. Thus, by completing this business report of our own company which is
called Waffle House, we gain a lot of knowledge, experience and expertise in
accounting recording

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