DIPLOMA PLANTING INDUSTRY MANAGEMENT

INTRODUCTION TO FINANCIAL ACCOUNTING AND REPORTING

COURSE CODE: ACC106 /ACC117

THE ACCOUNTING SIMULATION PROJECT

PREPARED BY:
NAME MATRIX NO
MOHD AZRUL AMRY BIN ABD KANAN 2020240306
NUUR DAEEM AQASHA BIN MUHTAR 2020874076
MUHAMAD SHAHREZA BIN SALIM 2020836124
MOHAMMAD HAIEQAL AQASYAH BIN MOHD SOFFIAN 2020457388

PREPARED FOR: SIR AMIRRUL MUHMININ DARUSSAMIN

DATE OF SUBMISSION: 7/2/2021

 TABLE OF CONTENT

NO CONTENT

1 INTRODUCTION

2 BUSINESS BACKGROUND

3 BUSINESS TRANSACTIONS

4 JOURNALS

5 LEDGERS

6 TRIAL BALANCE

7 CONCLUSION
INTRODUCTION

The name of our business is ‘Yalla Snika Store’. Our store is located at Indah Permai, Kota
Kinabalu, Sabah. Our store was set up in late 2020 and we chose to open a shop in Indah Permai
because the building there has 2 floors. The focus of this business is fully on shoes selling, where
we sell a sneakers type of shoes with a capital of Rm 50,000 in cash. Our business transaction
month begin on January 1, 2021 and the financial year of the business ends on December 31,
2021.

BUSINESS BACKGROUND

Location :
Ground & 1st Floor, Lot No. S3A-06

Corner Lot, Jalan Sepanggar Bay, Taman Indah Permai,

88450

Kota Kinabalu, Sabah

Malaysia,

Tel. No: 0148743477

Operation Hours : 10:00 a.m-9:00 p.m (Monday-Saturday) (Off-Day (Sunday))

Business Activities : Sales of Shoes. Achieved the goals of profit in the shoes business. Doing the job
with more effective and efficient and give best service to the society.
Accounting Concept : Capital, Customers & Suppliers

Capital Contribution : RM 50,000

Transaction month : 01st January 2021

BUSINESS TRANSACTIONS

DATE TRANSACTIONS

Jan 1 Started business with rm 50000 cash and furniture worth RM10000.
2 Purchase 500 pairs of sneakers from Ariq enterprise worth RM200 each by credit.
3 Sold 20 pairs to Aten enterprise worth RM250 each by cash.
4 Bought a delivery van worth RM5000 on credit, from Tank Truck Trading.
5 Sold sneakers worth RM200 to Ronny on credit.
7 Bought another furniture worth RM3000 on cash.
8 Sold 3 pair of sneakers worth RM60 each to Icam on credit and return 2 pair of it the next
day, due to external damage.
10 Tobey bought RM200 sneakers on credit and return it at the same day due to the shoes
being the wrong size.
12 The owner bought 2 pair of sneakers worth RM200 combined by cash for the company.

14 The owners took 3 pair of sneakers for personal use worth RM150 and cash RM300 from
the company.
15 The shop took a loan from Remy bank worth RM50000.
16 Sold 20 pair of sneakers to Sunny sdn.bhd worth RM500 combined on credit.
17 Purchased another 30 pair of sneakers from Ariq enterprise worth RM200 each on credit.
20 Purchased another 50 pair of sneakers from Ararat sdn.bhd worth RM50 each on credit,
then return 4 pair of it due to unmatching size of the pair.
24 Sold a pair of sneakers to Mok worth RM90 on cash.

25 The shop return another 2 pair of sneakers to Ariq enterprise due to the non-existance of
the soles.
27 Paid rental RM300 and paid salaries RM900 for two of the workers by cheque.

29 Rental received RM200 from the neighbor above the shop in cash.
31 Receive a cheque worth RM500 from the mayor of the town, due to the economic
contribution.
JOURNALS

General Journal

Date Details Folio Debit Credit

2021 RM RM
Jan

1 Capital 50000

Cash 50000

Furniture 10000

14 Drawings 150

Purchases 150

14 Drawings 300

Cash 300

4 Van 5000

Tank Truck Trading 5000

15 Remy bank 50000

Bank 50000
 Purchase Journal

Date Particulars Invoice Folio Amount

No. (RM)

2021
Jan

2 Ariq enterprise 10000

17 Ariq enterprise 6000

20 Ararat sdn bhd 2500

31 Transfer to purchase ledger 18500

Return Outward Journal

Date Particulars CN/DN Folio Amout

no. (RM)

2021
Jan

20 Ararat sdn bhd 200

25 Ariq enterprise 400

31 Transfer to return outwards 600

journal
 Sales Journal

Date Particulars Invoice Folio Amount

no. (RM)

2021
Jan

5 Ronny 200

16 Sunny sdn bhd 500

10 Tobey 200

8 Icam 180

31 Transfer to sales ledger 1080

Return Inwards Journal

Date Particulars CN/DN Folio Amout

no. (RM)

2021
Jan

8 Icam 120

10 Tobey 200

Dec Transfer to return inwards ledger 320

31
 Cash Receipt Journals

Date Cheque Details Folio Cash Bank Sales Account Rental Capital
No. Receivables
Received

2021 RM RM RM RM RM RM
Jan

1 Capital 50000 50000

3 Sales 5000 5000

24 Sales 90 90

12 Sales 200 200

29 Rental 200 200

received

31 Cheque 500 500

31 55490 500 5290 500 200 50,000

Cash Payment Journal

Date Cheque Details Folio Cash Bank Rental Purchase Salary Account
No. Payables

2021 RM RM RM RM RM RM
Jan

27 Rental 300 300

Payment

27 Salaries 900 900

7 Purchased 3000 3000

31 3000 1200 300 3000 900

LEDGERS

Furniture a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Transfer from 10000 Jan 31 Transfer from 3000

general journal cash payment
journal

Balance c/d 7000

10000 10000

2021

Feb 1 Balance b/d 7000

Capital a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Balance c/d 50000 Jan 1 Transfer from cash 50,000

receipt journal

50,000 50,000

2021

Feb 1 Balance b/d 50,000

 Drawings a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Transfer from 450 Jan 31 Balance c/d 450

general journal

450 450

2021

Feb 1 Balance b/d 450

Purchases a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Transfer from 18500 Jan 31 Transfer from 150

purchases journal general
journal

Jan 31 Transfer from 3000

cash payment
journal

Balance c/d

18500 18500

2021

Feb 1 Balance b/d 15350

 Sales a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Balance c/d 6370 Jan 31 Transfer from sales 1080

journal

Jan 31 Transfer from cash 5290

receipt journal

6370 6370

2021

Feb 1 Balance b/d 6370

Return outwards a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Balance c/d 600 Jan 31 Transfer from return 600

outward

600 600

2021

Feb 1 Balance b/d 600

 Return inwards a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Transfer from 320 Jan 31 Balance c/d 320

return inwards
journal

320 320

2022

Feb 1 Balance b/d 320

Rental receive a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Balance c/d 200 Jan 31 Transfer from 200

cash receipt
journal

200 200

2022

Feb 1 Balance b/d 200

 Cheque receive a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Balance c/d 500 Jan 31 Transfer from 500

cash receipt
journal

500 500

2021

Feb 1 Balance b/d 500

Rental a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Transfer from cash 300 Jan 31 Balance c/d 300

payment journal

300 300

2021

Feb 1 Balance b/d 300

 Salary a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Transfer from cash 900 Jan 31 Balance c/d 900

payment journal

900 900

2022

Feb 1 Balance b/d 900

Cash payment a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Balance c/d 55490 Jan 31 Transfer from cash 55490

payment journal

55490 55490

2021

Feb 1 Balance b/d 55490

Cash receipt a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Transfer from cash 3000 Jan 31 Balance c/d 3000

receipt journal

3000 3000

2022

Feb 1 Balance b/d 3000

 Remy bank a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Balance c/d 50000 Jan 31 Transfer from general 50000

journal

50000 50000

2021

Feb 1 Balance b/d 50000

Van a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Transfer from 5000 Jan 31 Balance c/d 5000

general journal

5000 5000

2022

Feb 1 Balance b/d 5000

Tank Truck Trading a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Balance c/d 5000 Jan 31 Transfer from general 5000

journal

5000 5000

2021

Feb 1 Balance b/d 5000

 Icam a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Transfer from sales 180 Jan 31 Transfer from 120

journal return
inwards
journal

Balance c/d 60

180 180

2022

Feb 1 Balance b/d 60

Tobey a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Transfer from sales 200 Jan 31 Transfer from 200

journal return
inwards
journal

Balance c/d 0

200 200

2022

Feb 1 Balance b/d 0

 Sunny Sdn Bhd a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 1 Transfer from sales 500 Jan 31 Balance c/d 500

journal

500 500

2022

Feb 1 Balance b/d 500

Ronny a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Transfer from sales 200 Jan 31 Balance c/d 200

journal

200 200

2022

Feb 1 Balance b/d 200

 Bank a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Transfer from 50000 Jan 31 Transfer from 500

general journal cash receipt
journal

Transfer from 1200

cash payment
journal

Balance c/d 48300

50000 50000

2022

Feb 1 Balance b/d 48300

Ariq enterprise a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Transfer from 400 Jan 31 Transfer from 16000

return purchases journal
outwards
journal

Balance c/d 15600

16000 16000

2021

Feb 1 Balance b/d 15600

 Ararat Sdn Bhd a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Transfer from 200 Jan 31 Transfer from 2500

return purchases journal
outwards
journal

Balance c/d 2300

2500 2500

2021

Feb 1 Balance b/d 2300

Company cash a/c

Date Particular Debit Date Particular Credit

2021 RM 2021 RM

Jan 31 Balance c/d 300 Jan 31 Transfer from general 300

journal

300 300

2021

Feb 1 Balance b/d 300

TRIAL BALANCE

Trial Balance as at 31 January 2021

Debit Credit
RM RM
Furniture 7000
Capital 50000
Drawings 450
Purchases 15350
Sales 6370
Return outwards 600
Return inwards 320
Rental receive 200
Cheque receive 500
Rental 300
Salary 900
Cash payment 3000
Cash receipt 55490
Remy bank 50000
Van 5000
Tank Truck Trading 5000
Icam 60
Tobey -
Bank 48300
Ariq enterprise 15600
Ararat sdn bhd 2300
Sunny sdn bhd 500
Ronny 200
Company cash 300
133870 133870

CONCLUSION
In short, we gained a lot of experience and new knowledge as an outcome of this group project. We have
a poor understanding of how accounting processes work and why perfecting each process is critical to the
production of financial statements. Because of some of us have no accounting background, we have
encountered numerous challenges throughout this group project. Some of the issues we faced included
preparing accounting documents, balancing ledgers, and performing trial balances. However, after
refreshing the notes, we were able to overcome the obstacle.