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General Journal & Ledger

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General Journal Date | Description | Debit | Credit | Feb 1 | Bank | 50 000 | | | Van | 20 000 | | | Capital | | 70 000 | 1 | Cash | 30 000 | | | Bank | | 30 000 | 1 | Rent | 6 000 | | | Cash | | 6 000 | | Prepaid rent | 4 000 | | | Rent | | 4 000 | 2 | Office equipment | 5 700 | | | Cash | | 5 700 | 2 | Furniture | 10 000 | | | Account payable – Court Mamoth | | 10 000 | 3 | Carriage inwards | 150 | | | Bank | | 150 | 4 | Purchases | 11 250 | | | Account payable – Sasbadi Sdn Bhd | | 11 250 | 4 | Purchases | 6 800 | | | Account payable – Kumpulan Media Karangkraf Sdn Bhd | | 6 800 | 5 | Advertisement | 1700 | | | Bank | | 1 700 | 7 | Account receivable – Aisyah Tuition Centre | 3 700 | | | Sales | | 3 700 | 8 | Purchases | 4 500 | | | Cash | | 4 500 | 8 | Account payable – Sasbadi Sdn Bhd | 2 500 | | | Return outwards | | 2 500 | 9 | Account payable – Kumpulan Media Karangkraf Sdn Bhd | 150 | | | Discount received | | 150 | | Account payable – Kumpulan Media Karangkraf Sdn Bhd | 1 400 | | | Cash | | 1 400 | 9 | Cash | 2 000 | | | Sales | | | 10 | Cash | 3 000 | | | Discount allowed | 100 | | | Sales | | 3 100 | 12 | Purchases | 11 330 | | | Cash | | 10 922 | | Discount received | | 408 | 13 | Bank | 50 000 | | | Loan from CIMB Bank | | 50 000 | 13 | Drawing | 75 | | | Purchases | | 75 | 14 | Bank | 2 000 | | | Account Receivable – Aisyah Tuition Centre | | 2 000 |

Date | Description | Debit | Credit | Feb 14 | Account payable – Court Mamoth | 10 000 | | | Bank | | 10 000 | 15 | Account receivable – SMK Sri Gombak’s Bookstore | 8 000 | | | Sales | | 8 000 | 16 | Carriage outwards | 200 | | | Cash | | 200 | 17 | Account payable – Sasbadi Sdn Bhd | 9 000 | | | Bank | | 9 000 | 18 | Bank | 3 000 | | | Account receivable – SMK Sri Gombak’s Bookstore | | 3 000 | 19 | Purchases | 4 000 | | | Cash | | 4 000 | 20 | Freight inwards | 200 | | | Cash | | 200 | 21 | Return inwards | 500 | | | Account receivable – SMK Sri Gombak’s Bookstore | | 500 | 23 | Cash | 2 500 | | | Sales | | 2 500 | 25 | Salary | 6 000 | | | Bank | | 6 000 | 27 | Cash | 1 900 | | | Rent received | | 1 900 |

Ledgers
Bank
| | RM | | | RM | Feb 1 | Capital | 50 000 | Feb 1 | Cash | 30 000 | 13 | Loan from CIMB Bank | 50 000 | 3 | Carriage inwards | 150 | 14 | Account receivable -Aisyah Tuition Centre | 2 000 | 5 | Advertisement | 1 700 | 18 | Account receivable - SMK Sri Gombak’s Bookstore | 3 000 | 14 | Account payable - Court Mamoth | 10 000 | | | | 17 | Account payable - Sasbadi Sdn Bhd | 9 000 | | | | 25 | Salary | 6 000 | | | | 28 | Balance c/d | 48 150 | | | 105 000 | | | 105 000 | Mar 1 | Balance b/d | 48 150 | | | |

Cash | | RM | | | RM | Feb 1 | Bank | 30 000 | Feb 1 | Rent expenses | 6 000 | 9 | Sales | 2 000 | 2 | Office equipment | 5 700 | 10 | Sales | 3 000 | 8 | Purchases | 4 500 | 23 | Sales | 2 500 | 9 | Account payable -Kumpulan Media Karangkraf Sdn Bhd | 1 400 | 27 | Rent received | 1 900 | 12 | Purchases | 10 922 | | | | 16 | Carriage outwards | 200 | | | | 19 | Purchases | 4 000 | | | | 20 | Freight inwards | 200 | | | | 28 | Balance c/d | 6 478 | | | 39 400 | | | 39 400 | Mar 1 | Balance b/d | 6 478 | | | |

Purchases | | RM | | | RM | Feb 4 | Account payable - Sasbadi Sdn Bhd | 11 250 | Feb 13 | Drawings | 75 | 4 | Account payable -Kumpulan Media Karangkraf Sdn Bhd | 6 800 | 28 | Balance c/d | 37 805 | 8 | Cash | 4 500 | | | | 12 | Cash | 10 922 | | | | 12 | Discount received | 408 | | | | 19 | Cash | 4 000 | | | | | | 37 880 | | | 37 880 | Mar 1 | Balance b/d | 37 805 | | | |

Sales | | RM | | | RM | Feb 28 | Balance c/d | 19 300 | Feb 7 | Account receivable - Aisyah Tuition Centre | 3 700 | | | | 9 | Cash | 2 000 | | | | 10 | Cash | 3 000 | | | | 10 | Discount allowed | 100 | | | | 15 | Account receivable -SMK Sri Gombak’s Bookstore | 8 000 | | | | 23 | Cash | 2 500 | | | 19 300 | | | 19 300 | | | | Mar 1 | Balance b/d | 19 300 |

Account payable | | RM | | | RM | Feb 8 | Return outwards | 2 500 | Feb 2 | Furniture | 10 000 | 9 | Cash | 1 400 | 4 | Purchases | 11 250 | 9 | Discount received | 150 | 4 | Purchases | 6 800 | 14 | Bank | 10 000 | | | | 17 | Bank | 9 000 | | | | 28 | Balance c/d | 5 000 | | | | | | 28 050 | | | 28 050 | | | | | Balance b/d | 5 000 |

Account receivable | | RM | | | RM | Feb 7 | Sales | 3 700 | Feb 14 | Bank | 2 000 | 15 | Sales | 8 000 | 18 | Bank | 3 000 | | | | 21 | Return inwards | 500 | | | | 28 | Balance c/d | 6 200 | | | 11 700 | | | 11 700 | Mar 1 | Balance b/d | 6 200 | | | |

Van | | RM | | | RM | Feb 1 | Capital | 20 000 | Feb 28 | Balance c/d | 20 000 | | | 20 000 | | | 20 000 | Mar 1 | Balance b/d | 20 000 | | | |

Capital | | RM | | | RM | Feb 28 | Balance c/d | 70 000 | Feb 1 | Bank | 50 000 | | | | 1 | Van | 20 000 | | | 70 000 | | | 70 000 | | | | Mar 1 | Balance b/d | 70 000 |

Discount allowed | | RM | | | RM | Feb 10 | Sales | 100 | Feb 28 | Balance c/d | 100 | | | 100 | | | 100 | Mar 1 | Balance b/d | 100 | | | |

Rent expenses | | RM | | | RM | Feb 1 | Cash | 6 000 | Feb 1 | Prepaid rent | 4 000 | | | | 28 | Balance c/d | 2 000 | | | 6 000 | | | 6 000 | Mar 1 | Balance b/d | 2 000 | | | |

Office equipment | | RM | | | RM | Feb 2 | Cash | 5 700 | Feb 28 | Balance c/d | 5 700 | | | 5 700 | | | 5 700 | Mar 1 | Balance b/d | 5 700 | | | |

Furniture | | RM | | | RM | Feb 2 | Account payable -Court Mamoth | 10 000 | Feb 28 | Balance c/d | 10 000 | | | 10 000 | | | 10 000 | Mar 1 | Balance b/d | 10 000 | | | |

Carriage inwards | | RM | | | RM | Feb 3 | Bank | 150 | Feb 28 | Balance c/d | 150 | | | 150 | | | 150 | Mar 1 | Balance b/d | 150 | | | |

Advertisements | | RM | | | RM | Feb 5 | Bank | 1 700 | Feb 28 | Balance c/d | 1 700 | | | 1 700 | | | 1 700 | Mar 1 | Balance b/d | 1 700 | | | |

Drawings | | RM | | | RM | Feb 13 | Purchases | 75 | Feb 28 | Balance c/d | 75 | | | 75 | | | 75 | Mar 1 | Balance b/d | 75 | | | |

Carriage outwards | | RM | | | RM | Feb 16 | Cash | 200 | Feb 28 | Balance c/d | 200 | | | 200 | | | 200 | Mar 1 | Balance b/d | 200 | | | |

Return inwards | | RM | | | RM | Feb 21 | Account receivable -SMK Sri Gombak’s Bookstore | 500 | Feb 28 | Balance c/d | 500 | | | 500 | | | 500 | Mar 1 | Balance b/d | 500 | | | |

Salary | | RM | | | RM | Feb 25 | Bank | 6 000 | Feb 28 | Balance c/d | 6 000 | | | 6 000 | | | 6 000 | Mar 1 | Balance b/d | 6 000 | | | |

Prepaid rent | | RM | | | RM | Feb 1 | Rent | 4 000 | Feb 28 | Balance c/d | 4 000 | | | 4 000 | | | 4 000 | Mar 1 | Balance b/d | 4 000 | | | |

Freight inwards | | RM | | | RM | Feb 20 | Cash | 200 | Feb 28 | Balance c/d | 200 | | | 200 | | | 200 | Mar 1 | Balance b/d | 200 | | | |

Return outwards | | RM | | | RM | Feb 28 | Balance c/d | 2 500 | Feb 8 | Account payable -Sasbadi Sdn Bhd | 2 500 | | | 2 500 | | | 2 500 | | | | Mar 1 | Balance b/d | 2 500 |

Discount received | | RM | | | RM | Feb 28 | Balance c/d | 558 | Feb 9 | Account payable -Kumpulan Media Karangkraf Sdn Bhd | 150 | | | | 12 | Purchases | 408 | | | 558 | | | 558 | | | | Mar 1 | Balance b/d | 558 |

Loan from CIMB Bank | | RM | | | RM | Feb 28 | Balance c/d | 50 000 | Feb 13 | Bank | 50 000 | | | 50 000 | | | 50 000 | | | | Mar 1 | Balance b/d | 50 000 |

Rent received | | RM | | | RM | Feb 28 | Balance c/d | 1 900 | Feb 27 | Cash | 1 900 | | | 1 900 | | | 1 900 | | | | Mar 1 | Balance b/d | 1 900 |

KAMPUS BANDARAYA MELAKA

FACULTY OF BUSINESS MANAGEMENT
ACC 406
FINANCIAL ACCOUNTING

PREPARED BY : 1. MUHAMMAD AMIRUL HAFIZ BIN RAZAK 2. MUHAMMAD ASYRAF BIN MOHD ROSLI 3. LUQMAN BIN RUSLIN

GROUP : M1 BM242 1B

PREPARED FOR:
PUAN JOEAIZA BINTI JOHARI

Below are transactions of HLA Trading for the month of February 2013:
February 1 Start business with capital of RM 50 000 in bank and brought van in business, RM 20 000. 1 Withdraw money from bank, RM 30 000 for business purpose. 1 Paid rental to Wisma Maju Holdings for February until April by cash, RM 2 000 per month. 2 Bought office equipment by cash, RM 5 700. 2 Bought furniture from Court Mamoth by credit worth RM 10 000. 3 Paid carriage inwards to Court Mamoth by cheque, RM 150. 4 Bought school reference books from Sasbadi Sdn Bhd by credit worth RM 12 500. Received a trade discount of 10%. 4 Bought magazines and novels from Kumpulan Media Karangkraf Sdn Bhd by credit up to RM 6 800. 5 Paid by cheque, RM 1 700 to Big Mamma Sdn Bhd for advertisement. 7 Sold reference books by credit to Aisyah Tuition Centre, RM 3 700. 8 Bought children books from PTS Sdn Bhd by cash RM 4 500. 8 Return books to Sasbadi Sdn Bhd worth RM 2 500. 9 Paid by cash to Kumpulan Media Karangkraf Sdn Bhd RM 1 550, and received discount RM 150. 9 Sold magazine and reference books by cash RM 2 000. 10 Sold magazine and novels by cash to Red Bookstore, RM 3 100. Discount allowed given RM 100. 12 Bought Islamic Books from Telaga Biru Sdn Bhd and Hidayah House of
Quran Sdn Bhd by cash, RM 6 780 and RM 4 550, respectively and received discount 4% and 3%. 13 Borrow loan RM 50 000 from CIMB Bank. 13 Took novels and magazines worth RM 75 for personal use. 14 Received cheque from Aisyah Tuition Centre, RM 2 000. 14 Paid by cheque, RM 10 000 to Court Mamoth. 15 Sold reference books by credit to SMK Sri Gombak’s Bookstore worth
RM 8 000. 16 Paid carriage outward by cash RM 200 to SMK Sri Gombak’s Bookstore. 17 Paid by cheque to Sasbadi Sdn Bhd, RM 9 000. 18 Received cheque from SMK Sri Gombak’s Bookstore, RM 3 000. 19 Bought children books from Evergreen Sdn Bhd by cash worth RM 4 000. 20 Paid freight inward RM 200 to Evergreen Sdn Bhd. 21 Return inwards from SMK Sri Gombak’s Bookstore worth RM 500. 23 Sold children books and Islamic books to Dr. Hilmi by cash worth RM 2 500. 25 Paid salary to workers, RM 1 200 per month, there are 5 workers. 27 Received a rent by cash from Jiman Sdn Bhd, RM 1 900.
Adjustments:
1. It was found that Aisyah Tuition Centre owed RM 1 700. A few reminders had been sent to Aisyah Tuition Centre, but she fail to settle the debt. HLA Trading decided to write off the whole amount as bad debt.
2. Allowance for doubtful debt is to be adjusted to 5% on the outstanding Account Receivables.
3. Depreciation is to be provided as follows:
Furniture - 2% per month using the straight line method.
Van - 2% on cost monthly basis.
4. Found out that one worker did not get paid on February, RM 1 200.
5. Jiman Sdn Bhd paid by cash another RM 3 800 for March and April. This transaction was not recorded.
6. The interest charged by CIMB Bank is 5% per annum.

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