NO.

MATRIKULASI : 960822125936001
NO. KAD PENGENALAN : 960822-12-5936
NO. TELEFON : 013-557 9597
E-MEL : mellissastephen@oum.edu.my
PUSAT PEMBELAJARAN : OUM KOTA KINABALU
ARAHAN
 Jangan menyalin soalan dan arahan tugasan dalam jawapan anda.
 Sediakan jawapan tugasan anda mengikut susunan KRITERIA PENILAIAN
(ASSESSMENT CRITERIA) seperti tertunjuk dalam RUBRIK. Jika RUBRIK TIDAK
dibekalkan, ikut arahan/garispanduan yang ditetapkan oleh Open University Malaysia
(OUM) bagi tugasan kursus berkenaan.
 Tugasan anda hendaklah mematuhi bilangan patah perkataan seperti di
dalam arahan soalan tugasan dan TIDAK termasuk rujukan.
 Taipkan jawapan anda dengan menggunakan saiz fon 12 Times New Roman dan
langkau baris 1.5.
 Tunjukkan bilangan perkataan di hujung tugasan anda.
 Jadual dan gambar rajah jika ada, hendaklah menunjukkan tajuk yang wajar.
 Senaraikan secara berasingan, rujukan/referensi dalam muka surat APENDIKS.
1.0 INTRODUCTION
There are a few characteristics of accounting will be very useful for both side which is
outside of the box and inside of the box of accounting and without all the characteristics that
we use for accounting for the business purpose which mainly included with the 4
characteristics as below :
I. Comparability
One of the essential side of financial information as it supports the user of accounting
information to separate, rectifying, develop in order to make essentialdecision
throughout the process. The capability to do intra-firm examination inside a similar
organization, between firm correlation with different organizations, and market part
correlation inside a similar market area makes bookeping data simple to work with.

ii. Understandability
The introduction of bookkeeping data ought to be basic and justifiable for the blients
of the data. It is significant that all the information is clear and compact, it tends to be
effectively comprehended by everybody including parties who are not from the
bookkeeping foundation. All-important logical notes ought to be given along the
fiscal reports. Strategy for valuation of stock, technique for devaluation, data on stores
and excess, unexpected liabilities, and some other remarkable things.

iii. Reliability
One of the most significant among subjective attributes of bookkeeping data data is
unwavering quality of information, for example all data furnished must be discernible
and undeniable with legitimate source records. In the event of inward or an outer
review the data inside budget reports ought to be comfirmable back to its unique
source. Disappointment of a review may rompt doubt in the organization’s monetary
information.

iv. Relevance
Relevance of accounting information means it should help the user of information
with their decision makin process. The information provided should not be
irrelevantand unnecessary. All information should be capable of monetary
computation.

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ASSIGNMENT 1 ( CLO 2)
2. 0 ACCOUNTING EQUATION

The basic accounting equation is Asset = Liabilities + Owner’s Equity

1) On 1 January, Aiman, the owner of Pandora, contributed cash RM100,000 to the

business.
The owner itself which is Mr. Aiman has invested his cash in the business which is
Syarikat Pandora in terms of cash on the 1 st of January. The effect of this transaction
can be seen in the accounting equation below:
Asset (+) = Liabilities + Owner’s Equity (+)
The asset for the business will increase in terms of cash amounting Rm100,000.00
The liability will not change as this transaction has not affected the liability for the
business.
The owner equity for the business will increase in terms of capital amounting
RM100,000.00
2) On 5 January, Aiman signed a note payable with the bank, granting the
company an RM50,000 loan.
The owner which is Mr. Aiman has taken a note payable that are issued from the bank
on the 5th of January to invest in his business Syarikat Pandora. The effect of this
transaction can be seen in the accounting equation as showed below:
Asset (+) = Liabilities (+) + Owner’s Equity
The asset for the business will increase in terms of cash amounting RM50,000.00
The liability will increase due to the note payable that the owner takes from the bank
amounting RM50,000.00
The owner equity will remain the same because this transaction has not affected the
equity for the business.
3) On 10 January, Pandora paid RM5,000 in cash for equipment.
Asset (+) (-) = Liabilities + Owner’s Equity
The asset Equipment amounting RM50,000.00 will increase. However, the asset Cash
will decrease by the same amount which is RM50,000.00. Therefore, the total
amount of assets will not change.
The liabilities will remain the same because liabilities are not involved in this
transaction.
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 The owner’s equity will remain the same because equity is not involved in this
transaction.

4) On 15 January, Pandora paid the RM2,400 rent for the office space for the
month of January.
In this transaction we can see that there are expenses occurred on the 15 th of January
which is the rental expenses. The effect of the accounting equation will be shown
below:
Asset (-) = Liabilities + Owner’ s equity (-)
As the accounting equation shown that the asset is decreased in terms of cash
amounting RM2,400.00 because there is cash withdrawal occurred in order to pay the
monthly rent for the business.
In liability, there are no changes occurred because this transaction is not related to
liability.
The owner’s equity will decreased in total amounting RM2,400.00 because there is a
decrease in the income of the business in making the transaction of rental expenses
payment.
5) On 18 January, Pandora completed services for customers and immediately
received RM8,000 in cash.
In this transaction we can see that the business which is Syarikat Pandora received
cash after completing their business with their customer. Thus, the effect of the
accounting equation is shown as below:
Asset (+) = Liabilities + Owner’ s Equity (+)
The asset of the company increased amounting RM8,000.00. this is because the
business which is Syarikat Pandora received the payment of the services rendered to
their customer is in terms of cash.
The liabilities for the company will remain constant due to the nature of the
transaction does not influence the liability for the business.
The owner’ s equity for the business increased amounting RM8,000.00 this is due to
the payment received from the services rendered for the customer is identified as an
income in the business which is Syarikat Pandora.
6) On 20 January, Pandora purchased supplies on credit for RM2,000.
The business has purchased supplies in the 20th January. Where the supplies that are
purchased is on credit amounting RM2,000. The effect of this transaction can be seen
in the accounting equation below:
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Asset (+) = Liabilities (+) + Owner’ s Equity
The asset of the business which is Syarikat pandora will increase by RM2,000.00
because supplies are classified as an asset for that business and the increasement of
supplies will increase the asset of the business retrospectively.
The liabilities for the business which is Syarikat Pandora will increase because the
purchase of the supplies is made on credit so the account payable for the business will
increase.
The owner’ s equity for the business remains unchanged because the transaction does
not involve in the equity of the business.

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2.1 JOURNAL ENTRIES

b). Prepare the journal entries to record all the transactions

1) On 1 January, Aiman, the owner of Pandora, contributed cash RM100,000 to the
business.
2) On 5 January, Aiman signed a note payable with the bank, granting the company
an RM50,000 loan.
3) On 10 January, Pandora paid RM5,000 in cash for equipment.
4) On 15 January, Pandora paid the RM2,400 rent for the office space for the month
of January
5) On 18 January, Pandora completed services for customers and immediately
received RM8,000 in cash.
6) On 20 January, Pandora purchased supplies on credit for RM2,000.

The journal entry for the transaction above is shown as shown below:

No Date Particulars Debit Credit

. 20xx RM RM
1. 1 Jan Cash 100,000.00
Aiman, Capital 100,000.00
(Introduced capital in the business)

2. 5 Jan Cash 50,000.00

Note Payable 50,000.00
(Loan from Bank XX)

3. 10 Jan Equipment 5,000.00

Cash 5,000.00
(Purchase of equipment)

4. 15 Jan Rental Expenses 2,400

Cash 2,400
(Rental expenses for January 20xx)

5. 18 Jan Cash 8,000.00

Service Revenue 8,000.00
(Service revenue received)

6. 20 Jan Supplies 2,000.00

Account Payable 2,000.00
(Purchase supplies on credit)

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ASSIGNMENT 2: (CLO 2) Kejora Enterprise

General Journal (adjustments)

No. Date Particular Debit Credit

2021 RM RM
1. 31 Dec Depreciation - Equipment 22,600.00
Accumulated depreciation - Equipment 22,600.00
(Depreciation of equipment)

2. 31 Dec Office Supply Expenses 20,000.00

Office Supply 20,000.00
(Consumed supply are recorded)

3. 31 Dec Rental Expenses 22,000.00

Rental Payable 22,000.00
(Accrued rental for December 2021)

4. 31 Dec Salary Expenses 33,000.00

Salary Payable 33,000.00
(Unpaid salary December 2021)

5. 31 Dec Utilities Expenses 3,500.00

Utilities Payable 3,500.00
(Unpaid utility bills December 2021)

6. 31 Dec Advertising Expenses 31,000.00

Prepaid Advertising 31,000.00
(Advertising expenses recorded)

7. 31 Dec Insurance Expenses 12,000.00

Prepaid Insurance 12,000.00
(Insurance for the year 2021)

8. 31 Dec Interest Expenses 9,000.00

Interest Payable 9,000.00
(Accrued interest for the year 2021)

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Working 1.
Equipment
Cost – RM226,000.00
Depreciation rate – 10%
Depreciation method – straight line method

Thus,
¿ 226,000.00 ×10 %
= RM 22,600.00

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 Kejora Enterprise
adjusted Trial Balance as at
31 December 2021
Account Debit Credit
(RM) (RM)
Cash 185,000
Accounts receivable 152,000
Prepaid insurance 12,000
Inventory 228,000
Office supplies 25,000
Prepaid advertising 3,000
Equipment 226,000
Accumulated depreciation – 126,600
Equipments
Unearned sales revenue 37,000
Accounts payable 175,000
Bank loan 120,000
Capital – Kejora 240,000
Sales revenue 420,000
Rental Payable 22,000
Salaries Payable 33,000
Utilities Payable 3,500
Interest Payable 9,000
Interest Expenses 9,000
Insurance Expenses 12,000
Advertising Expenses 31,000
Office Supply Expenses 20,000
Depreciation - Equipment 22,600
Salaries expenses 91,000
Rental expenses 154,000
Utilities expenses 15,500
Total 1,186,100 1,186,100

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 Kejora Enterprise
Income Statement for the year ended
31 December 2021

Particular RM Total
Sales revenue 420,000.00
Net Sales 420,000.00

Cost of Goods sold:

- -
Gross Profit 420,000.00

Expenses:
Interest Expenses 9,000
Insurance Expenses 12,000
Advertising Expenses 31,000
Office Supply Expenses 20,000
Depreciation - Equipment 22,600
Salaries expenses 91,000
Rental expenses 154,000
Utilities expenses 15,500 (355,100)
Profit/Loss 64,900.00

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 Kejora Enterprise
Balance Sheet for the year ended
31 December 2021

Particular Rm Rm Rm
Current Asset:
Cash 185,000
Account Receiveable 152,000
Prepaid insurance 12,000
Inventory 228,000
Prepaid advertising 3,000
Office Supplies 25,000
Total current asset 605,000

Non-current Asset
Equipment 226,000
(-)Accumulated depreciation – Equipments (126,600) 99,400

Total Asset 764,900

Liability
Current liability:
Accounts payable 175,000
Unearned sales revenue 37,000
Rental Payable 22,000
Salaries Payable 33,000
Utilities Payable 3,500
Interest Payable 9,000 279,500

Non-current liability:
Bank loan 120,000 120,000
Net total liabilities 339,500

Owner’ s Equity
Capital - Kejora 240,000.00
Total liability and owner’s equity 639500.00

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 APENDIKS

RUJUKAN / REFERENSI

Nama Pengarang, (tahun), Tajuk Buku, Penerbitan

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BACHELOR OF BUSINESS & MANAGEMENT

SEMESTER JANUARY 2022

BBAW 2103

FINANCIAL ACCOUNTING

MATRICULATION NO : 960822125936001
IDENTITY CARD NO. : 960822-12-5936
TELEPHONE NO. : 013-557 9597
E-MAIL : mellissastephen@oum.edu.my
LEARNING CENTRE : OUM KOTA KINABALU

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INSTRUCTIONS
 Do not copy the assignment question and instructions to your answer.
 Prepare your assignment answer following the layout of the ASSESSMENT
CRITERIA shown in the RUBRICS provided for the course. Where RUBRICS are
not provided, follow the instructions/guidelines specified by the Open University
Malaysia (OUM) for the assignment concerned.
 Your assignment should be written according to the number of words outlined in
the assignment instruction EXCLUDING references.
 Type your answer using 12 point Times New Roman font and 1.5 line spacing.
 Show the number of words at the end of your assignment.
 Tables and figures where provided, should be appropriately titled.
 List your references separately in the APPENDIX page.

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 ATTACHMENT

REFERENCES

Author’s name (year). Book, Title, Publication

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