A C C 4 0 6 – I N T E R M E D I AT E F I N A N C I A L

ACCOUNTING & REPORTING

FINAL PROJECT – ACCOUNTING

S I M U L AT I O N P R O J E C T
Group: NBF1B

P R E PA R E D F O R :
S I R M O H D FA I R U Z A D N A N

P R E PA R E D B Y:
NAME ID NUMBER
1 NORDIANA MAARIF 2019536007
2 NUR SOFEA BINTI TURMIN 2015234758
3 SURAYA BINTI TALIB 2015279858
4 SYARIFAH NUR FAEZAH BINTI SYED FISAL 2019307185

SUBMITTED on: 16 June 2019

ACKNOWLEDGEMENT
First of all, we would like to thank to Allah S.W.T for His mercy and guidance in giving us
strength to complete this assignment. We also like to thank our lecturer, Sir Mohd Fairuz Adnan
for his support and guide in helping us to finish our assignment.

Then, we would like to thank to our parents and family members who sacrifice the time for us
and give a space, courage, and support to complete this assignment

In addition, grateful knowledge to all the team members for being so passion to each other, work
together as a team and support each other to overcome all the obstacle along the journey.

We thank all the people for their help directly and indirectly to complete our assignment.

TABLE OF CONTENT
 Description Page
1 Introduction 4
2 Company profile 5-6
3 Accounting Transactions 7-8
4 Journals 9 - 11
5 Ledgers 12 - 21
6 Trial Balance 22
7 Conclusion 23
8 References 24

Introduction

This assignment is designed to test on the understanding of the students in recording of the
business transactions using the double entry system under the book of prime entry format. To
complete this assignment, we need to think and decide what kind of business that we going to
choose. After a short discussion on 5 May 2019, we decided to set up the book store business.
We do also share an idea to create the business name, the month of the transactions, the
financial year ended for the business, and other related information. Once gathered all the
business information the critical part of the assignment stated as we need to create the
business transactions, preparing the journals, ledgers and the trial balance.

Page 4

COMPANY PROFILE
 Pustaka Ilmu Stationery & Book Store

Company name: Pustaka Ilmu Stationery & Book Store

Established date: 1 July 2020

Address: No 5 Jalan Plumbum

Q7/Q Seksyen 7
Shah Alam 40000
Selangor Malaysia

Contact details:
Tel: 03-4276 5555
Fax: 03-4276 6666
Email: [email protected]
Website: www.pustakailmu.com
Operating Hours: 10am to 10pm Page 5

About the company

Pustaka Ilmu Stationery and Book Store is a sole-proprietor business fully owned by Nur and is
an enterprise company in Malaysia, with the main office located in Shah Alam.

Mission / Values
Pustaka Ilmu Stationery and Book Store mission is to continuously supply variety of books and
stationery to society at reasonable price and as a complete pit-stop to the people to look for a
books and stationery.

Product
Our core business is to supply variety of textbooks, revision books, academic resources, and
stationery.

Capital Contribution to set up the company is RM50,000.00

Financial year end is on 31 December each year and the transactions shows is for the month of
January 2020

Page 6

Business Transactions
a. 4 credit transactions

 Bought goods on credit from MPH for RM300 and Karangkraf RM200

 Sold goods to Mona RM150 on credit

 Bought furniture and fitiing worth RM 2,000 on credit from Syarikat Tun Seng

 Purchased office furniture worth RM5000 on credit from Akia

b. 2 returns transactions

 Returned goods to MPH and Karangkraf worth RM40 and RM50 respectively

 Goods returned by Mona RM30

c. 4 cash transactions

 Cash sales of RM2500

 Paid electricity bill RM150

 Paid salaries RM500

 Mona paid RM100 by cash

d. 2 drawing transactions

 Owner took goods worth RM100 for own uses

 Owner withdraw RM200 cash for personal uses

e. 2 operating expenses transactions

 Interest on loan RM5,000

 Paid advertising expenses RM200 cash

 Paid insurance RM1000 by cash

f. 2 other revenues transactions

 Received RM500 commission by cheque

 Discount received from MPH RM100

 Received dividends from Unit Trust amounting RM500 by cheque

 g. Other transactions

 Paid MPH RM100 and Karangkraf RM100 by cheque

 Discount are given to customer (Mona) as a loyalty reward RM20 (discount allowed)

Page 7

Below are the business transactions of Pustaka Ilmu Stationary & Book Store for the month of
January 2020.

Month/date
January 2020
1 Started business with RM30,000 cash and premises RM20,000
2 Bought goods on credit from MPH for RM300 and Karangkraf for RM200
3 Paid advertising expenses RM200 cash
5 Cash sales of RM2500
6 Owner withdraw RM200 cash for personal uses
7 Paid electricity bills RM150 by cash
9 Sold goods on credit to Mona RM150
10 Bought furniture and fitting worth RM 2,000 on credit from Syarikat Tun Seng
15 Paid salaries RM 500 by cash
17 Returned goods to MPH and Karangkraf worth RM40 and RM50 respectively
18 Received dividends from Unit Trust amounting RM500 by cheque
20 Owner took goods worth RM100 for own uses
21 Paid insurance RM1000 by cash
22 Goods returned by Mona RM30
23 Discount received from MPH RM100
24 Discount was given to Mona (customer) as a loyalty reward RM20
25 Received RM500 commission by cheque
26 Took a loan RM50,000 from RHB Bank
27 Interest on loan RM5000 paid by cheque
28 Paid MPH RM100 and Karangkraf RM100 by cash
29 Mona paid RM100 by cash
 30 Purchased office equipment worth RM5000 on credit from Akia

Page 8

Journal

General Ledger

Date Particular Folio Debit (RM) Credit (RM)

Jan-20
1 Cash GL8 30,000
Premises GL1 20,000
Capital GL2 50,000
(Start business with cash and premises)

10 Furniture and Fittings GL3 2,000

Account Payable – Syarikat Tun Seng GL4 2,000
(Bought furniture and Fittings on credit)

20 Withdraw GL5 100

Purchase GL23 100
(Owner took goods for own uses)

30 Office Equipment GL6 5,000

Account Payable – Akia GL7 5,000
(Bought Office Equipment on credit)

Purchase Journal

Date Particular Folio Amount (RM)

Jan-20
2 MPH PL1 300
Karangkraf PL2 200
Transfer to Purchase Account 500
 Page 9

Sales Journal

Date Particular Folio Amount (RM)

Jan-20
9 Mona SL1 150
Transfer to Sales Account 150

Return Outwards Journal

Date Particular Folio Amount (RM)

Jan-20
17 MPH GL22 40
Karangkraf 50
Transfer to Sales Account 90

Return Inwards Journal

Date Particular Folio Amount (RM)

Jan-20
22 Mona GL21 30
Transfer to Sales Account 30

Page 10

Cash Payment Journal

Date Particular Folio Discount Bank (RM) Cash (RM)

Received
 (RM)
Jan-20
3 Advertising GL10 200
6 Withdraw GL5 200
7 Electricity GL11 150
15 Salaries GL12 500
21 Insurance GL14 1,000
23 MPH GL15 100
27 Interest on Loan GL18 1,000
from RHB
28 MPH GL8 100
28 Karangkraf GL8 100
100 1,000 2,250

Cash Receipt Journal

Date Particular Folio Discount Bank (RM) Cash (RM)
Received
(RM)
Jan-20
5 Sales GL20 2,500
18 Dividend from Unit GL13 500
Trust
24 Mona GL19 20
25 Commission GL16 500
27 Loan from RHB GL17 50,000
29 Mona GL8 100
20 51,000 2,600

Page 11

Ledgers & closing of the accounts

General Ledgers

Premises GL1
Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
1 Capital GJ1 20,000 31 Balance c/d 20,000
20,000 20,000
Feb-20
1 Balance c/d 20,000
 Capital GL2
Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
31 Balance c/d 50,000 1 Premises GJ1 20,000
Cash GJ1 30,000
50,000 50,000
Feb-20
1 Balance c/d 50,000

Furniture and Fittings GL3

Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
10 Syarikat GJ1 2,000 31 Balance c/d 2,000
Tun Seng
2,000 2,000
Feb-20
1 Balance b/d 2,000
Page 12

Account Payable – Syarikat Tun Seng GL4

Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
31 Balance 2,000 10 Furniture GJ1 2,000
c/d and Fittings
2,000 2,000
Feb-20
1 Balance b/d 2,000

Drawing GL5
Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
6 Cash GJ1 200 31 Balance c/d 300
20 Purchase 100
300 300
Feb-20
1 Balance 300
b/d

Office Equipment GL6

Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
30 Akia GJ1 5,000 31 Balance c/d 5,000
5,000 5,000
Feb-20
1 Balance 5,000
b/d

Page 13
Account Payable – Akia GL7
Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
31 Balance 5,000 30 Office GJ1 5.000
c/d Equipment
5,000 5,000
Feb-20
1 Balance b/d 5,000

Cash GL8
Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
1 Capital 30,000 31 Total CPJ1 2,250
Payment
31 Total CRJ1 2,600 31 Balance c/d 30,350
 Receipt
32,600 32,600
Feb-20
1 Balance 30,350
b/d

Bank GL9
Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
31 Total CRJ1 51,000 31 Total CPJ1 5,000
Receipt payment
31 Balance c/d 46,000
51,000 51,000
Feb-20
1 Balance b/d 46,000
Page 14

Advertising GL10
Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
3 Cash CPJ1 200 31 Balance c/d 200
200 200
Feb-20
1 Balance c/d 200

Electricity GL11
Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
7 Cash CPJ1 150 31 Balance c/d 150
150 150
Feb-20
1 Balance b/d 150
 Salaries GL12
Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
15 Cash CPJ1 500 31 Balance c/d 500
500 500
Feb-20
1 Balance b/d 500

Page 15

Dividend Received GL13

Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
31 Balance c/d 500 18 Bank CRJ1 500
500 500
Feb-20
1 Balance b/d 500

Insurance GL14
Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
21 Cash CPJ1 1,000 31 Balance c/d 1,000
1,000 1,000
Feb-20
1 Balance b/d 1,000

Discount Received GL15

Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
31 Balance c/d 100 24 Cash CRJ1 100
100 100
Feb-20
1 Balance b/d 100

Page 16

Commission Received GL16

Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
31 Balance c/d 500 25 Bank CRJ1 500
500 500
Feb-20
1 Balance b/d 500

Loan – RHB Bank GL17

Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
31 Balance c/d 50,000 26 Bank CRJ1 50,000
50,000 50,000
Feb-20
1 Balance b/d 50,000

Interest on Loan – RHB Bank GL18

Date PParticular Folio Amount Date Particular Folio Amount
 (RM) (RM)
Jan-20 Jan-20
27 Bank CPJ1 5,000 31 Balance c/d 5,000
5,000 5,000
Feb-20
1 Balance b/d 5,000

Page 17

Discount allowed GL19

Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
29 Cash CPJ1 20 31 Balance c/d 20
20 20
Feb-20
1 Balance b/d 20

Sales GL20
Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
31 Balance c/d 2,650 5 Cash CRJ1 2,500
9 Sales CRJ1 150
2,650 2,650
Feb-20
1 Balance c/d 2,650

Return Inwards GL21

Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
31 Total return RIJ1 30 31 Balance c/d 30
30 30
Feb-20
1 Balance b/d 30

Page 18

Return Outwards GL22

Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
31 Balance c/d 90 31 Total Return ROJ1 90
90 90
Feb-20
1 Balance b/d 90

Purchase GL23
Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
2 Purchased PJ1 500 20 Drawing GL5 100
31 Balance c/d 400
500 500
Feb-20
1 Balance c/d 400
 Page 19

Purchase Ledger

Account Payable – MPH PL1

Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
17 Return ROJ1 40 2 Purchased PJ1 300
Outwards
24 Discount CRJ1 100
received
28 Cash CRJ1 100
31 Balance c/d 60

300 300
Feb-20
1 Balance c/d 60

Account Payable – Karangkraf PL2

Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
17 Return ROJ1 50 2 Purchased PJ1 200
Outwards
28 Cash CRJ1 100
31 Balance c/d 50

200 200
Feb-20
1 Balance c/d 50
 Page 20

Sales Ledger

Account Receivable – Mona SL1

Date PParticular Folio Amount Date Particular Folio Amount
(RM) (RM)
Jan-20 Jan-20
9 Sales SJ1 150 22 Return RIJ1 30
Inwards
24 Discount CRJ1 20
allowed
29 Cash 100
150 150
 Page 21

Trial balance

Pustaka Ilmu Stationery & Book Store

Trial Balance as at 31 January 2019
Debit Credit
RM RM
Capital 50,000.00
Premises 20,000.00
Furniture & fittings 2,000.00
Office Equipment 5,000.00
Cash 30,350.00
Bank 46,000.00
Loan - RHB Bank 50,000.00
Account Receivable - Mona -
Account Payable - MPH 60.00
Account Payable - Karangkraf 50.00
Account Payable - Syarikat Tun seng 2,000.00
Account Payable - Akia 5,000.00
Drawing 300.00
Purchase 400.00
Sales 2,650.00
Return Inwards 30.00
Return Outwards 90.00
Discount allowed 20.00
Discount received 100.00
Dividend Received 500.00
Commission Received 500.00
Electricity 150.00
Salaries 500.00
Advertising 200.00
Insurance 1,000.00
Interest on Loan 5,000.00
110,950.00 110,950.00
Page 22

Conclusion

Alhamdulillah, after a week’s struggling to complete this simulation assignment, we able to

handed over to our lecturer, Sir Mohd Fairuz Adnan on time.

This assignment taught us a lot on how to work in the team, to communicate and the most
important is, this can be part of our journey of learning and practice.

Thank a lot to all the team members for the cooperation and to sir for the guidance.
 Page 23

References

1. Financial Accounting for Non-Accounting students (fifth edition)

Chapter 4 (page 34)
Chapter 5 (page 58)
Chapter 15 (page 218)
Page 24