FACULTY OF ARCHITECTURE, PLANNING AND SURVEYING

DIPLOMA IN ESTATE MANAGEMENT (AP115)

INTRODUCTION TO FINANCIAL ACCOUNTING

ACC107

GROUP ASSIGNMENT PROJECT 1

PREPARED BY:
NAME MATRIC NUMBER
CHE NADZIRAH BINTI CHE DAM 2019276046
NURUL ALYA SHAFIQA BINTI ZAKARI 2019259794
SITI NOR AISHA BINTI ABDULL MUTLIB 2019265902
NUR AIN AFIFAH BINTI WAZI 2019213226

PREPARED FOR:
DR. NOR BAHIYAH OMAR

DATE OF SUBMISSION:

WEEK 12

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TABLE OF CONTENT
NO. CONTENT PAGE
1 INTRODUCTION 3
2 BUSINESS BACKGROUND 4
3 CONTENT:
1) BUSINESS TRANSACTIONS 5
2) JOURNAL 6
3) LEDGERS 9
4) TRIAL BALANCE 13
4 CONCLUSION 14

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INTRODUCTION

The assignment assigned us to complete the accounting simulation project. We will set up a
sole proprietorship business selling hijab called Comfy Hijab. In this project assignment, we
have provides business transaction, journal, ledger and trial balance for the first month of
business. A business transaction is a financial transaction between two or more parties that
involves the exchange of goods, money, or services. Then, a journal is a detailed account that
records all the financial transactions of a business. Next, ledger is an account or record used
to store bookkeeping entries for balance sheet and income-statement transaction. And then,
trial balance is a bookkeeping worksheet in which the balances of all ledgers are compiled
into debit and credit account column totals that are equal. In this assignment project, we made
hijabs such as bawal, shawl, instant shawl and instant hijab as sales items for the business.
The type of business conducted is sole proprietorship. Sole proprietorship is business wholly
owned by a single individual using personal name as per his or her identity card or trade
name.

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BUSINESS BACKGROUND
Business Name ComfyHijab
Owner Che Ain Aishalya Binti Che Affandi
Address Taman Desa Seri Emas, 06300, Kuala Nerang, Kedah
Type of business Sole Proprietorship
Financial year end 30 June 2022
Transaction for month 1 July 2021 – 31 July 2021
Capital RM 70,000
Number of Workers 2 workers
Type of Good Sold Hijab such as bawal, shawl, instant shawl, and instant
hijab
Business Activities Selling and supplies variety of hijab by own brand

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BUSINESS TRANSACTION

JULY TRANSACTIONS
1 Started the business with cash RM50,000 and premises worth RM20,000.
2 Purchased sewing machine RM3,500 on credit from Kraf Ezee Enterprise
3 Bought fabric RM1,000 with cash from Laila Fabric Sdn Bhd.
5 Purchased hijab accessories on credit from Fazura Trading RM500.
7 Purchased sewing tools on credit from Azra Trading RM300.
9 Purchased thread RM200 on credit from Artificial Enterprise.
11 Sold hijab on credit to Puan Maria RM1,000.
12 Made cash sales of hijab worth RM4,000 to Sofia by cash.
13 Returned defective hijab accessories amounting to RM300 to Fazura Trading.
14 Sold hijab on credit to Hijab Store RM2,000.
16 Defective hijabs were returned by Hijab Store with the value of RM500.
18 The business returned damaged sewing tools worth RM100 to Azra Trading.
19 Sold hijab on credit to Kedai Tudung Marsha RM2,000.
20 Kedai Tudung Marsha returned hijab amounting to RM200 due to defective.
21 Bought furniture of RM2,000 from Furniture Enterprise and paid by cash.
22 Owner took RM2,000 cash for personal use.
23 Received 20% of commission from Kekaboo Company after promoting fabric
starch and manage to sell 50 bottles (RM10/unit)
24 Received cheque RM300 for half of premises rented by Encik Ahmad.
25 Loan from Bank Rakyat RM10,000.
26 Paid electricity bills RM150 by cash.
27 Receivable paid RM1,000 due in cash from Puan Maria.
28 Owner took hijab worth RM200 for gift to her family.
29 Paid salary amounting to RM2,400 in cash.
31 Receivable paid RM1,500 due in cash from Hijab Store.

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JOURNALS

General Journal

Date Details Folio Debit (RM) Credit (RM)

1/7 Cash GL 50,000
Premises GL 20,000
Capital GL 70,000
2/7 Sewing Machine GL 3,500
Kraf Ezee Enterprise GL 3,500
21/7 Furniture GL 2,000
Cash GL 2,000
25/7 Bank GL 10,000
Capital GL 10,000
28/7 Drawings GL 200
Cash GL 200

Purchases Journal

Date Details Invoice No Folio Amount (RM)

5/7 Fazura Trading 5678 PL 500
7/7 Azra Trading 1050 PL 300
9/7 Artificial Enterprise 3434 PL 200
31/7 Transfer to Purchases Account GL 1,000

Sales Journal

Date Details Invoice No Folio Amount (RM)

11/7 Puan Maria 20201 SL 1,000
14/7 Hijab Store 20203 SL 2,000
19/7 Kedai Tudung Marsha 20204 SL 2,000
31/7 Transfer to Sales Account GL 5,000

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 Return Outwards Journal

Date Details Credit Note No Folio Amount (RM)

13/7 Fazura Trading 91011 PL 300
18/7 Azra Trading 1051 PL 100
31/7 Transfer to Purchase Returns GL 400
Account

Return Inwards Journal

Date Details Credit Note No Folio Amount (RM)

16/7 Hijab Store 20203 (D) SL 500
20/7 Kedai Tudung Marsha 20204 (D) SL 200
31/7 Transfer to Sales Returns Account GL 700

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 Cash Receipts Journal

Date Receipt No Details Folio Bank Cash Discount Account Sales Other
(RM) (RM) Allowed Receivable Account
12/7 20202 Sales GL - 4,000 - - 4,000 -
23/7 - Commission GL - 100 - - - 100
24/7 - Rental Received GL 300 - - - - 300
27/7 20201 (P) Puan Maria SL - 1,000 - 1,000 - -
31/7 20203 (P) Hijab Store SL - 1,500 - 1,500 - -
31/7 Total 300 6,600 - 2,500 4,000 400

Cash Payment Journal

Date Cheque No Details Folio Bank Cash Discount Account Purchases Other
(RM) (RM) Received Payable Account
3/7 1234 Fabric PL - 1,000 - - 1,000 -
22/7 - Drawing GL - 2,000 - - - 2,000
26/7 0401025 Electric bills GL - 150 - - - 150
29/7 - Salary GL - 2,400 - - - 2,000
31/7 Total - 5,550 - - 1,000 4,550

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LEDGERS
Cash Account
Date Details Folio Amount Date Details Folio Amount
(RM) (RM)
1/7 Capital GJ 50,000 3/7 Fabric (Laila CPJ 1,000
Fabric Sdn
Bhd.)
12/7 Sales CRJ 4,000 21/7 Furniture GL 2,000
22/7 Owner’s CPJ 2,000
Equity
23/7 Commission GJ 100
25/7 Loan GL 10,000 26/7 Utilities CPJ 150
27/7 Account CRJ 1,000 29/7 Salary CPJ 2,400
Receivable
31/7 Account CRJ 1,500 31/7 Balance c/d 59,050
Receivable
66,600 66,600
1/8 Balance b/d GJ 59,050

Premises
Date Details Folio Amount Date Details Folio Amount
(RM) (RM)
1/7 Owner’s GJ 20,000 31/7 Balance c/d 20,000
equity
20,000 20,000
1/8 Balance b/d GJ 20,000

Owner’s Equity
Date Details Folio Amount Date Details Folio Amount
(RM) (RM)
22/7 Cash CPJ 2,000 1/7 Cash GJ 50,000
Premises GJ 20,000
28/7 Drawing GJ 200
31/7 Balance c/d 67,800
70,000 70,000
1/8 Balance b/d GJ 67,800

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 Purchases Account
Date Details Folio Amount Date Details Folio Amount
(RM) (RM)
2/7 Account GJ 3,500 13/7 Account ROJ 300
Payable Payable
3/7 Cash CPJ 1,000 18/7 Account ROJ 100
Payable
5/7 Account PJ 500 28/7 Drawing GJ 200
Payable
7/7 Account PJ 300 31/7 Balance c/d 4,900
Payable
9/7 Account PJ 200
Payable
5,500 5,500
1/8 Balance b/d GJ 4,900

Account Payable
Date Details Folio Amount Date Details Folio Amount
(RM) (RM)
13/7 Purchases ROJ 300 2/7 Purchases GJ 3,500
18/7 Purchases ROJ 100 5/7 Purchases PJ 500
31/7 Balance c/d 4,100 7/7 Purchases PJ 300
9/7 Purchases PJ 200
4500 4,500
1/8 Balance b/d GJ 4,100

Sales
Date Details Folio Amount Date Details Folio Amount
(RM) (RM)
31/7 Balance c/d 9,000 11/7 Account SJ 1,000
Receivable
12/7 Cash CRJ 4,000
14/7 Account SJ 2,000
Receivable
19/7 Account SJ 2,000
Receivable
9,000 9,000
1/8 Balance b/d GJ 9,000

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 Account Receivable
Date Details Folio Amount Date Details Folio Amount
(RM) (RM)
11/7 Sales SJ 1,000 16/7 Sales Return RIJ 500
14/7 Sales SJ 2,000 20/7 Sales Return RIJ 200
19/7 Sales SJ 2,000 27/7 Cash CRJ 1,000
31/7 Cash CRJ 1,500
31/7 Balance c/d 1,800
5,000 5,000
1/8 Balance b/d GJ 1,800

Furniture
Date Details Folio Amount Date Details Folio Amount
(RM) (RM)
21/7 Cash GJ 2,000 31/7 Balance c/d 2,000
2,000 2,000
1/8 Balance b/d GJ 2,000

Sales Return
Date Details Folio Amount Date Details Folio Amount
(RM) (RM)
16/7 Account RIJ 500 31/7 Balance c/d 700
Receivable
20/7 Account RIJ 200
Receivable
700 700
1/8 Balance b/d GJ 700

Loan
Date Details Folio Amount Date Details Folio Amount
(RM)
31/7 Balance c/d 10,000 25/7 Cash GJ 10,000
10,000 10,000
1/8 Balance b/d GJ 10,000

Utilities
Date Details Folio Amount Date Details Folio Amount
(RM)
26/7 Cash CPJ 150 31/7 Balance c/d 150
150 150
1/8 Balance b/d GJ 150

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 Salary
Date Details Folio Amount Date Details Folio Amount
(RM) (RM)
29/7 Cash CPJ 2,400 31/7 Balance c/d 2,400
2,400 2,400
1/8 Balance b/d GJ 2,400

Commission
Date Details Folio Amount Date Details Folio Amount
(RM) (RM)
31/7 Balance c/d 100 23/7 Cash CRJ 100
100 100
1/8 Balance b/d GJ 100

Rent
Date Details Folio Amount Date Details Folio Amount
(RM) (RM)
31/7 Balance c/d 300 24/7 Account CRJ 300
300 300
1/8 Balance b/d GJ 300

Bank
Date Details Folio Amount Date Details Folio Amount
(RM) (RM)
24/7 Rent received CRJ 300 31/7 Balance c/d 300
300 300
1/8 Balance b/d GJ 300

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TRIAL BALANCE
PARTICULARS Debit (RM) Credit (RM)
Cash RM 59,050
Premises RM 20,000
Owner’s Equity RM 67,800
Purchases Account RM 4,900
Account Payable RM 4,100
Sales RM 9,000
Account Receivable RM 1,800
Furniture RM 2,000
Sales Returns RM 700
Loan RM 10,000
Utilities RM 150
Salary RM 2400
Commission RM 100
Rent RM 300
Bank RM 300
RM 91,300 RM 91,300

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CONCLUSION
We are working together brainstorm the idea of our business before do the business
transactions. We also seek help from expert which are our friends and also relatives for
references and advices. Furthermore, we also find it difficult to discuss our assignment during
the weekday because we are busy with class and homework. It is quite difficult when it is not
possible to discuss face to face because the Covid-19 educator hinders our movement as
students who are in different states to face to face. So, we do the discussion during weekend.
We are also negligent in making business transactions due to incomplete transaction
sentences. We are seeking help from Dr Bahiyah to review our assignment project before
submission. Next for the trial balance we get the wrong trial balance for the first time
calculation. This is so because there are components left to sum up all causing an imbalance
between debit and credit. We also make a double check trial balance by referring to journal
entries so that debit and credit get a balanced amount.

Overall, we had learnt many new things during the completion of the task. We also learn on
how to cooperate and divide the time adequately together since all the parts are related to
each other. We also acquire new knowledge about accounting and perhaps it can be adapted
and applied in the future if let say anyone in our group intend to conduct a business.

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