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INSTITUT PROFESIONAL BAITULMAL

KOLEJ BERSEKUTU UITM

INTRODUCING TO FINANCIAL ACCOUNTING AND REPORTING (ACC 106)


PREPARED FOR : EN. MARSURAIDI BIN MATURIDI PREPARED BY : NAME NOR ZULAIKHA BINTI HAMIZON RASHIDAH BINTI IBROHIM NUR ATIQAH BINTI ZABRI MATRICS NO. 2011225712 2011627734 20118114354

INTRODUCTION

Melody& Musical Instruments had been registered with Register of Companies under the Companies Act 1965. Melody&Musical Instruments is a private company and the owners of the company are Nor zulaikha Binti Hamizon,Rashidah Binti Ibrohim and Nur Atiqah Binti Zabri The company had been created around 2011.

The location of the company at Lot 19 and 4, Changkat, Jalan budi Pavilion, 51000, Kuala Lumpur. Started the business with RM 105 000 as an initial capital and the company runs the business by selling photocopy machines and doing photocopy, advertisement and printing services. In 2011 and 2012, the company gained a lot of profit by doing the business. So that, the company has stable financial status.

In the future, the company aim to gain more profit in the business to ensure that the position of the company is really stable an and can achieved the highest standard of the companys achievement.

MELODY&MUSICAL INSTRUMENTS

2011 July 01 04 06 08 10 12 14 16 18 19 20 21 22 23 24 25 26 27 28 29 30 Started business with RM10 000 in the bank and RM5 000 cash Recieved commission RM 500 in cash Purchase musical instruments from COBRA Ltd amounting RM50 000 Bought a motor van on credit from Honda Ltd amounting RM40 000 The owner tooks goods worth RM1 000 for personal use Bought goods on credit from Legend Ltd worth RM4 000 Bought goods on credit from Cerah Ltd worth RM2 800 Bought goods on credit worth RM3 000 from COBRA Ltd Sold goods on credit to Bugies Ltd amounting RM3 000 Sold goods on credit to Ready set Ltd amounting RM 800 Sold goods on credit to College Aswara amounting RM 10 000 Return goods to Legend Ltd worth RM 500 Return goods to Cerah Ltd worth RM 300 Return goods to COBRA Ltd worth RM 400 Issued credit note to Success Ltd for goods return amounting to RM 600 Issued credit note to Ocean Ltd for goods return amounting to RM 500 Issued creadit note to College Aswara for goods return amounting to RM 200 Received interest RM3 000 by cheque Paid electricity bill by cash RM 300 Paid salary RM1 500 by cheque Paid rental by cash RM 850

GENERAL JOURNAL DATE 2011 March 4 PARTICULARS FOLIO CASH BANK

Shoe machines SCORPION Ltd (Owner bought machines)

50 000 50 000

6 Motor vehicle Sengkung Ltd (Bought motor van on credit) 9 Drawings Purchases (Owner took goods for personal use) PURCHASES JOURNAL DATE 2011 July 11 13 15 31 Rainbow Ltd Roses Ltd SCORPION Ltd Transfer to purchases account PARTICULARS INVOICE NO.

40 000 40 000

1000 1000

FOLIO

AMOUNT (RM)

PL PL PL GL

4 000 2 800 3 000 9 800

SALES JOURNAL DATE 2011 July 18 Ladybug Ent. 19 Green Ent. 20 Unisex Ent. 31 Transfer to sales account SL SL SL GL 3 000 800 5 000 8 800 PARTICULARS INVOICE NO. FOLIO AMOUNT (RM)

RETURN INWARDS JOURNAL DATE 2011 June 24 25 26 31 Bugies Ltd Ready set Ltd College Aswara Transfer to return inwards account RETURN OUTWARD JOURNAL DATE PARTICULARS INVOICE NO. FOLIO AMOUNT (RM) 500 300 400 1 200 SL SL SL GL 600 500 200 1 300 PARTICULARS NOTE NO. FOLIO AMOUNT (RM)

2011 July 21 Legend Ltd 22 Cerah Ltd 23 COBRA Ltd 31 Transfer to return outwards account CASH RECEIPT JOURNAL DATE PARTICULARS FOLIO DISCOUNT ALLOWED (RM)

PL PL PL GL

CASH (RM)

BANK (RM)

2011 July 01 Capital 04 Commission Recieved 27 Interest Received CASH PAYMENT JOURNAL DATE PARTICULARS FOLIO DISCOUNT RECIEVED (RM) CASH (RM) BANK (RM) 5 000 500 5 500 100 000 3 000 103 000

2011 July 28 Electricity Bills 29 Salary 30 Rental 300 1 500 850 1 150 1500

DOUBLE ENTRY
TRANSACTION JOURNAL ENTRY RM 50 000 RM 50 000

Purchase musical instruments from COBRA Ltd amounting RM50 000 Started business with RM10 000 in the bank and RM5 000 cash

Dr Purchases Cr COBRA Ltd

Dr Bank Dr Cash Cr Bank

100 000 5 000 105 000

Bought a motor van on credit from Honda Ltd amounting RM40 000 Bought goods on credit from Legend Ltd worth RM4 000 Bought goods on credit worth RM3 000 from COBRA Ltd Bought goods on credit from Cerah Ltd worth RM2 800 The owner tooks goods worth RM1 000 for personal use Sold goods on credit to Bugies Ltd amounting RM3 000 Sold goods on credit to Ready set Ltd amounting RM 800 Sold goods on credit to College Aswara amounting RM 10 000 Return goods to Legend Ltd worth RM 500

Dr Motor Van Cr Citra Sdn Bhd-Creditor

40 000 40 000

Dr Purchases Cr Lagend Ltd-Creditor Dr Purchases Cr COBRA Ltd Dr Purchases Cr Cerah SDN BHD Dr Drawing Cr Purchases

4 000 4 000 3 000 3 000 2 800 2 800 1 000 1 000

Dr

Bugies Ltd Cr Sales

3 000 3000 800 800 10 000 10 000 500 500

Dr Ready set Ltd Cr Sales Dr College Aswara Cr Sales Dr legend Ltd Cr Return Outwards

Return goods to Cerah Ltd worth RM 300

Dr Cerah Ltd Cr Return Outwards Dr COBRA Ltd Cr Return Outwards Dr Return Inwards Cr Bugies Ltd

300 300 400 400 600 600

Return goods to COBRA Ltd worth RM 400 Issued credit note to Bugies Ltd for goods return amounting to RM 600

Issued credit note to Ready set Ltd for goods return amounting to RM 500 Issued credit note to College Aswara for goods return amounting to RM 200 Received interest RM3 000 by cheque

Dr Return Inwards Cr Ready set Ltd Dr Return Inwards Cr College Aswara Dr Bank Cr Interest Dr Cash Cr Commission received

500 500 200 200 3 000 3 000 500 500

Recieved commission RM 500 in cash

Paid electricity bills by cash RM 300

Dr electricity bills Cr Expenses Dr salary Cr Expenses Dr Rental Cr Expenses

300 300 1 500 1 500 850 850

Paid salary RM1 500 by cheque

Paid rental by cash RM 850

MELODY&MUSICAL INSTRUMENTS LTD

TRIAL BALANCE AS AT 31 JULY 2011 PARTICULARS DEBIT (RM) CREDIT (RM)

CAPITAL COMMISSION RECIEVED INTEREST RECEIVED ELECTRICITY BILLS SALARY RENTAL RETURN OUTWARDS RETURN INWARDS PURCHASES LEGEND LTD CERAH LTD COBRA LTD SALES BUGIES LTD READY SET LTD COLLEGE ASWARA MUSICAL INSTRUMENTS MOTOR VAN HONDA LTD DRAWINGS CASH BANK TOTAL

95000 500 3 000 300 1 500 850 1 200 1 300 8 800 3 500 2 500 52 600 8 800 2400 300 9 800 50 000 40 000 40 000 1 000 4 350 101 500 222 100 222 100