COURSE: PRINCIPLE OF FINANCIALACCOUNTING I

COURSE CODE: PAC1103

TOPIC: ACCOUNTING CYCLE
 GROUP MEMBERS:

NO Peer’s Name ID Number Teamwork

1. Nur Husna Sakirah Bt Abdullah BGJ200210605 3

2. Myre Dhania Hannah Bt Abdullah BGJ200210617 3

3. Nur Ain Athirah Bt Saidin BGJ200210601 3

4. Muhammad Syahmi Bin Ibrahim BGJ200211044 3

 Profile of the business

Name of the business

Dream Nails Saloon

Lot 4.106.02, Pavilion Elite KL, 168, Jalan Bukit

Place of business
Bintang,55100 Kuala Lumpur, Wilayah Persekutuan
Kuala Lumpur
BOARD OF DIRECTOR OF DREAM NAIL SALON

NUR AIN ATHIRAH

(OWNER)

MUHAMMAD
SYAHMI
(MANAGER)

MYRE DHANIA NUR HUSNA SAKIRAH

HANNAH
(EMPLOYEE) (EMPLOYEE)
 JOB SCOPE
• HANDLE ALL THE TRANSACTION
• -MADE FINANCIAL DECISION
OWNER • -RUNNING AND MANAGING THE BUSINESS

• -ANALYZE BUSINESS PERFOMANCE

• -IMPROVE THE COMPANY RESULT
MANAGER

• ASSESSING COMPANY’S SUCCESS AND ARCHIEVE COMPANY GOALS

EMPLOYEE
 Dream Nails Saloon Services/Price List
SERVICES PRICE
MENICURE TREATMENT + SCRUB RM35
PEDICURE TREATMENT + SCRUB RM35
BUFFING + VIT PROTECTOR RM45
REMOVE CUTICLE RM50
GEL COLOUR RM60
FRENCH GEL COLOUR RM70
GEL COLOUR REMOVAL RM20
NAIL ART DESIGN RM100
3D ART DESIGN RM150
DIAMOND AND STUDDED RM300++
LITTLE MISS MANI+PEDI RM60
LUXURIOUS SPA MANI+PEDI RM300
 TRANSACTION
DATE TRANSACTION
1/7 Ain invested RM55000 cash into the business
3/7 Purchased equipment RM5000 on account from Jack enterprise
5/7 Paid RM2000 cash for supplies
7/7 Received RM5000 cash for services rendered to customer
9/7 Paid the debt for equipment purchased from Jack Enterprise on 3 JULY by cash
11/7 Paid utilities RM500 by cash
13/7 Performed services to Natalia on credit RM1200
15/7 The owner withdrew cash RM2500 for personal travelling
17/7 Paid rent RM5000 by cash
19/7 Paid wages to employee RM3600 by cash
21/7 Purchased another office equipment by cash RM3000
23/7 Performed services to customer by cash RM1500
25/7 Paid supplies RM4000 on account to Rose enterprise
27/7 Purchased motor vehicle RM4500 on account from Ah Cheng Motor shop
29/7 Paid the debt for motor vehicle purchased from Ah Cheng RM4500 by cash
 JOURNAL ENTRIES
DATE TRANSACTION DEBIT (RM) CREDIT (RM)
JULY 1 Cash 55 000
Capital 55 000
JULY 3 Equipment 5 000
Account Payable 5 000
JULY 5 Supplies 2 000
Cash 2 000
JULY 7 Cash 5 000
Service Revenue 5 000
JULY 9 Account Payable 5 000
Cash 5 000
JULY 11 Utilities Expense 500
Cash 500
JULY 13 Account Receivable 1 200
Service Revenue 1 200
JULY 15 Drawing 2 500
Cash 2 500
JULY 17 Expenses - rent 5 000
Cash 5 000
◦ \

JULY 19 Wages 3 600

Cash 3 600
JULY 21 Equipment 3 000
Cash 3 000
JULY 23 Cash 1 500
Service Revenue 1 500
JULY 25 Supplies 4 000
Account Payable 4 000
JULY 27 Vehicle 4 500
Account Payable 4 500
JULY 29 Account Payable 4 500
Cash 4 500