DECLARATION FORM OF GROUP ASSIGNMENT

INTRODUCTION TO FINANCIAL ACCOUNTING (ACC117/106)

Name of the group leader and members Student ID

MUHAMMAD AMMAR BIN AZHAR 2022858336

MUHAMMAD DANISH BIN AMIRULLAH 2022487106

Due Date of Assignment: Submission Date:

PREPARED FOR:

MISS NUR AFIFAH BINTI MUHD NASIR

DECLARATION: We declare that the assignment here submitted is original and no

part of this assignment has been copied from another person’s work except when
due acknowledgement is made in the text and all members of the group have read
and checked all parts of the piece of work, irrespective of whether they are
contributed by individual members or all members as a group, here submitted are
original except for source material explicitly acknowledged.

Signature of group leader: Date:

DISCLAIMER:

A lecturer has a right not to mark this assignment if the above declaration has not
been signed. If the above declaration is found to be false, no mark will be rewarded
for this assignment.
 GROUP ASSIGNMENT

INTRODUCTION TO FINANCIAL ACCOUNTING

ACC117

PREPARED BY:

NAME STUDENT ID GROUP

MUHAMMAD AMMAR BIN AZHAR 2022858336 PHM1102C1
ABU
MUHAMMAD DANISH BIN AMIRULLAH 2022487106 PHM1102C1

DIPLOMA OF HOTEL MANAGEMENT

PREPARED FOR:

MISS NUR AFIFAH BINTI MUHD NASIR

 TABLE OF CONTENTS

NO CONTENT PAGES
1. ACKNOWLEDGEMENT
2. INTRODUCTION OF ASSIGNMENT
3. BUSINESS BACKGROUND
4. BUSINESS TRANSACTIONS
5. JOURNAL
6. LEDGER
7. TRIAL BALANCE
8. CONCLUSION
 ACKNOWLEDGEMENT

Assalammualaikum and peace be upon you, thank God for His abundant grace
bestowed upon us to successfully complete this coursework assignment. In addition,
we would like to express our appreciation to Miss Afifah ,our acc lecturer, for her
willingness to give us this assignment. He also helped a lot throughout the process
of completion and formation of this course work.

In addition, we also want to say a thousand thanks to our parents who gave us the
motivation and enthusiasm to complete this assignment. They have indeed given us
all the calmness and high inspiration to make this course work a success.

Next, we would also like to say a big thank you to our friends, especially those in
the group with us, for giving many thoughtful opinions and ideas on this assignment.
We have also helped each other by always discussing problems and queries with
each other.

Finally, various knowledge and lessons that we can learn as long as we complete
this task. We would also like to thank those who were directly and indirectly involved
in the completion of this course work. Thank you.
 1

INTRODUCTION TO ASSIGNMENT

INTRODUCTION TO FINANCIAL ACCOUNTING / INTRODUCTION TO

FINANCIAL ACCOUNTING AND REPORTING / ACCOUNTING
(ACC117 / ACC106 / ACC100)

GROUP PROJECT 1 (25%)

INTRODUCTION:

In this group project, the students are expected to work collaboratively with each other in a team to
complete the accounting simulation project. At the end of this group project, every team is expected
to submit a written report for the accounting simulation project. Every student should demonstrate
a teamwork skill which is defined as a set of behaviours, that can be learnt, which provide the
individual with the capability of working towards team goals whilst maintaining own integrity.

INSTRUCTIONS:

1. Form a team with a maximum of 4 members. Every team is expected to plan before start
and every teammate is expected to contribute and manage any conflict arises accordingly.
2. Set up a sole proprietorship business selling goods/products to customers locally (name
your business and your product).
3. Submit a written report with the following information:
a. Business background by including (not limited to) name of the business, place of
business, business activities, capital contribution, financial year end.
b. Business transactions for the first month of your business. Clearly state the month of
the business transactions. The business transactions created are between your
business and supplier, and between your business and customers. The business
transactions should include:
1 cash and 1 non-cash capital 1 credit purchase of non-current asset
contributions
3 credit purchases 1 cash purchase of non-current asset

1 cash purchase 1 cash drawing

3 credit sales 1 goods drawing
1 cash sale 1 non-current liability
2 purchases returns 2 expenses
2 sale returns 2 incomes
c. Journalise the business transactions in the appropriate journals (sales journal,
purchase journal, return inwards journal, return outwards journal, cash
receipts journal, cash payments journal, and general journal).
d. Prepare the appropriate ledgers accounts (General ledgers, purchase ledgers
and sale ledgers).
e. Prepare a Trial Balance as at the end of the month.
REPORT FORMAT
1. Cover page
2. Table of content
3. Introduction (Background of group assignment A)
4. Business background
5. Content
i. Business transactions ii.
Journals iii. Ledgers iv. Trial
balance

6. Conclusion (Conclusion of group assignment A including team’s experiences and

limitations)

Friendly reminder:
i) Each team should produce business transactions on their own. If the business transactions
found similar or the same with the other team(s), a penalty will be imposed on all teams
involved.
ii) The deadline for submission is on WEEK 11

In this group project, the students are expected to work collaboratively with each
other in a team to complete the accounting simulation project. At the end of this
group project, every team expected to submit a written report for the accounting
simulation project. Every student should demonstrate a teamwork skill which is
defined as a set of behaviours, that can be learnt, which provide the individual with
the capability of working towards team goals whilst maintaining own integrity

BUSINESS BACKGROUND

Location Batu feringgi, penang

Contact no. 014 - 567910
Whatsapp 014 - 567910
Operating hours 8:00 am to 10:00 pm
Websites www.varietynasilemakrestaurants.com

faris is the owner of Variety Nasi Lemak Restaurants which started to operate in
year 2022. June 2022 was the first time this restaurant started to operate, received
great response from customer across Shah Alam, Variety Nasi Lemak Restaurant
become one of famous restaurant in that place. Using nasi lemak as an identity of
the restaurant, the owner itself found a way to create more variants of nasi lemak
and use it as the menu. High demand menu like nasi lemak sambal kerang , nasi
lemak sambal daging, and nasi lemak sambal sotong become our top priority to
serves to the customers.

CONTENT

i) Bussiness transaction

Date Transaction

1\6 The owner started a business by investing cash 50,000 into to the
busines. Cash in hand RM20,000, cash at bank RM 30,000
2\6 Purchase goods on credit from Komtarz Sdn Bhd amount Rm 4,000

3\6 Purchase furniture RM 3,500 on credit from Thalia Furniture

5\6 Bought goods RM 2,000 on credit from Omar Sdn Bhd

6\6 Cash sales to Amri RM3,000

8\6 Owner took goods amounting RM300 for personal use

10\6 Owner bring in motorcycle in business amount RM10,000

11\6 Puchase goods on credit from Ali Sdn Bhd amount RM4,500

12\6 Purchased goods on credit RM3,500 on credit from Aziz Sdn Bhd

13\6 Puchased goods with cash amount RM 1,500

14\6 Sold goods amount RM2,000 to Aiman Sdn Bhd on credit

15\6 Sold goods amount RM2,500 to Anisah Enterprise on credit

16\6 Sold goods amount RM1,500 to Saiful Trading on credit

17\6 Sold goods amount RM1,400 with cash

18\6 Return goods to Ali Sdn Bhd amount RM500

19\6 Return goods to Aziz Sdn Bhd amount RM1,500

21\6 Aiman Sdn Bhd return goods amount RM100

22\6 Anisah Enterprise return goods amount RM200

23\6 Owner took cash amounting RM200

24\6 Paid rent amounting RM3000 by cheque

25\6 Paid salary RM1,800 by cheque

26\6 Aiman Sdn Bhd paid RM2,000 with cheque

27\6 Saiful Trading paid RM 500 through online banking

28\6 Bought display rack amount RM3,000 by cash

29\6 Bought ice cream machine worth RM2,000 on credit from Jamal
Enterprise
30\6 Owner loan RM15,000 from Maybank.

ii) Journal
 GENERAL JOURNAL
Date Particulars Folio Debit (RM) Credit (RM)
2022
1/6 Cash in hand 20,000
Cash at bank 30,000
Owner’s capital 50,000
3/6 Furniture 3,500
Thalia’s Furniture 3,500
8/6 Drawings 300
Purchase 300
10/6 Asset (motorcyles) 10,000
Owner’s capital 10,000
23/6 Drawings 200
Cash in hand 200
30/6 Cash at bank 15,000
Liability (loans payable 15,000
owed to Maybank)

PURCHASES JOURNAL
Date Particulars Invoice Folio Amount (RM)
No.
2022
2/6 Komtarz Sdn Bhd 4,000
5/6 Omar Sdn Bhd 2,000
11/6 Ali Sdn Bhd 4,500
12/6 Aziz Sdn Bhd 3,500
29/6 Jamal Enterprise 2,000
30/6 Total transferred to purchase a/c 19,500

SALES JOURNAL
Date Particulars Invoice Folio Amount (RM)
No.
2022
14/6 Aiman Sdn Bhd 2,000
15/6 Anisah Enterprise 2,500
16/6 Saiful Trading 1,500
30/6 Total transferred to sales a/c 6,000

RETURN OUTWARDS JOURNAL

Date Particulars Credit Folio Amount (RM)
Note
No.
 18/6 Ali Sdn Bhd 500
19/6 Aziz Sdn Bhd 1,500
30/6 Total transferred to return outwards a/c 2,000

RETURN INWARDS JOURNAL

Date Particulars Invoic Folio Amount (RM)
e No.
21/6 Aiman Sdn Bhd 100
22/6 Anisah Enterprise 200
30/6 Total transferred to return inwards a/c 300

CASH RECEIPTS JOURNAL

Date Accounts Folio Cash Bank Discount Account Sales Other
credited Dr Dr Allowed Receivable Cr accounts
(RM) (RM) Dr (RM) Cr (RM) (RM) Cr (RM)
6/6 Sales 3,000 3,000
26/6 Aiman 2,000 2,000
Sdn Bhd
27/6 Saiful 500 500
Trading
3,000 3,000

CASH PAYMENTS JOURNAL

Date Accounts Foli Cash Bank Discount Account Purchase Other
debited o Cr Cr Received Payable s Dr (RM) accounts
(RM) (RM) Cr (RM) Dr (RM) Dr (RM)
2022
13/6 Purchase 1,500 1,500
24/6 Rent 3,000 3,000
25/6 Salary 1,800 1,800
28/6 Purchase 3,000 3,000

30/6 Total 9,300 4,500 4,800

iii) Ledger