GROUP ASSIGNMENT

ACCOUNTING 1 (AA015)
TASK 1, 2 & 3

Lecturer: Puan Salizah Binti Kamal Hurin

Tutoran: A20
Group Member: i. Sylvester Ady Alichan [MA2315137437]
ii. Ahmad Ariq Anwar Bin Husmizam [MA2315137451]
iii. Siti Nur Syamsina Binti Mohammad Noor [MA2315112700]
iv. Aqilla Nabilla Binti Nanang [MA2315112132]
 TASK 1: TOPIC 2 [BASIC ACCOUNTING CONCEPTS]

SPRING SECURITY SERVICES

TABULAR TRANSACTION ANALYSIS

Date Cash Supplies Equipment Accounts = Accounts Capital Revenue /
(+/-) (+/-) (+/-) Receivable payable / (+/-) Expenses
(+/-) Expense (+/-)
payable
(+/-)
May +RM30,000 +RM30,000
1
3 +RM2,000 -RM2,000
Salary payable Salary
expense

4 -RM1,600 -RM1,600
Rental
expense

8 -RM4,000 +RM8,000 +RM4,000

Accounts
payable

10 -RM800 +RM800
12 -RM490 -RM490
Repair
expense

15 +RM3,500 +RM3,500
Service
revenue

20 -RM1,500 -RM1,500
Drawings
26 -RM4,000 -RM4,000
Accounts
payable

27 -RM340 -RM340
Utilities
expense

28 +RM3,500 -RM3,500
30 -RM8,000 -RM8,000
salaries
expense
 TASK 2: TOPIC 3 [ACCOUNTING CYCLE]

Nutty Nutty Enterprise Business Profile:

Business Name: Nutty Nutty Enterprise

Address: 123 Nutty Lane, Nutsville
Business Type: Sole Proprietorship
Date of Establishment: January 1, 2023
Current Accounting Period: January 1, 2023 - December 31, 2023
Business Transactions Period: November 1, 2023 - November 30, 2023

Product Details:

Product Name Purchase Price (RM) Selling Price (RM)

Premium Almonds 5 10

Honey Roasted Cashews 4 8

Deluxe Mixed Nuts 7 14

Pistachio Medley 7 15
 Nutty Nutty Enterprise Opening Balances

Accounts Debit (RM) Credit(RM)

Cash 10,000

Bank 30,000

Inventory(Nuts) 15,000

Furniture 2,500

Equipment 8,000

Prepaid Rent 1,200

Accounts Receivable: Kettle Berhad 500

Accounts Receivable: Mad Berhad 800

Accounts Payable: Qila Enterprise 1,000

Accounts Payable: Sam Trading 1,500

Loan 7,000

Capital 58,500

Total 68,000 68,000

 Source
Date Transactions Journal
Documents
2023
Purchase General
Nov Brings in a used van valued at RM30,000
Invoice Journal
1
Sold 1000 unit of Premium Almonds RM5,000 to Bestie
2 Berhad on credit terms 2/10, n/30 and shipping terms Sales Invoice Sales Journal
FOB destination
Sold 1000 unit of Pistachio Medley RM15,000 to JJ
3 Enterprise on credit terms 2/10, n/30 and shipping terms Sales Invoice Sales Journal
FOB destination
General
4 Withdraw cash RM500 for personal uses Memo
Journal
Cash
5 Received cheque payment from Mad Berhad RM400 Cash Receipt Receipts
Journal
Cash
Paid RM150 for freight services for transaction on
7 Payment Receipt Payments
November 2nd
Journal
Cash
Paid RM300 for freight services for transaction on
8 Payment Receipt Payments
November 3rd
Journal
Cash
10 Bestie Berhad cleared all its debt with a cheque Cash Receipt Receipts
Journal
Cash
11 JJ Enterprise cleared all its debt with a cheque Cash Recept Receipts
Journal
Cash
Paid Qila enterprise by cheque to settle its debts and
13 Payment Receipt Payments
received a discount of RM90
Journal
Bought 1000 unit of Ancient Nuts from Sussy Trading Purchases Purchases
15
RM2,000 with credit terms 2/10, n/30 Invoice Journal
Bought 1000 unit of Dancing Nuts from Shamila Trading Purchases Purchases
16
RM4,000 with credit terms 2/10, n/30 Invoice Journal
Cash
18 Sold 500 units of Deluxe Mixed Nuts RM7,000 in cash Cash Receipt Receipts
Journal
General
20 Returned nuts to Sussy RM100 Credit Note
Journal
Cash
22 Cash purchases RM700 Payment Receipt Payment
Journal
General
23 Took goods for personal use RM100 Memo
Journal
Cash
24 Settled all debts with Sussy by cheque Payment Receipt Payments
Receipt
Cash
25 Settled all debts with Shamila Trading Payment Receipt Payments
Receipt
 Cash
27 Sold 1000 units of Premium Almonds RM10,000 Cash Receipt Receipts
Journal

General Journal
Date Particulars Debit Credit
Vehicles
2023
Capital RM30,000
Nov 1 RM30,000
(Brings in vehicles for business operation)
Drawings
4 Purchases RM500
RM500
(Withdraw cash for personal uses)
Account Payable- Sussy Trading
20 RM100 RM100
Purchases return
Drawings
23 Purchases RM100
RM100
(took goods for personal uses)

Purchases Journal

Date A/C Credited Terms Dr Purchases

2023
Sussy Trading 2/10, n/30 RM2,000
Nov 15

16 Shamila Trading 2/10, n/30 RM4,000

30 Total RM6,000

Sales Journal
Date A/C Debited Terms Cr Sales
2023
Bestie Berhad 2/10, n/30 RM5,000
Nov 2

3 JJ Trading 2/10, n/30 RM15,000

30 Total RM20,000
 Cash Payments Journal

Date Particulars Cr Bank Cr Cash Cr Purchases Discounts

2023
Freight-out RM150
Nov 7

8 Freight-out RM300

13 A/C Payable- Qila Enterprises RM910 RM90

22 Purchases RM700

24 A/C Payable- Sussy Trading RM1,862 RM38

25 A/C Payable- Shamila Trading RM3,920 RM80

30 Total RM6,692 RM1,150 RM208

Cash Receipts Journal

Date Particulars Dr Bank Dr Cash Dr Sales Discounts
2023
A/C Receivable- Mad Berhad RM400
Nov 5

10 A/C Receivable- Bestie Berhad RM4,900 RM100

11 A/C Receivable- JJ Enterprise RM14,700 RM300

18 Sales RM7,000

27 Sales RM10,000

30 Total RM20,000 RM17,000 RM400

Control Account Accounts Payable

Date Particulars Ref. Dr Cr Bal

2023
Balances RM2,500 RM2,500
Nov 1

13 Bank CPJ RM910 RM1,590

Purchases discount CPJ RM90 RM1,500

20 Purchases return GJ RM100 RM1,400

24 Bank CPJ RM1,862 (RM462)

Purchases discount CPJ RM38 (RM500)

25 Bank CPJ RM3,920 (RM4,420)

Purchases Discount CPJ RM80 (RM4,500)

30 Purchases PJ RM6,000 RM1,500

Control Account Accounts Receivable

Date Particulars Ref. Dr Cr Bal
2023
Balances RM1,300 RM1,300
Nov 1

5 Bank CRJ RM400 RM900

10 Bank CRJ RM4,900 (RM4,000)

Sales Discounts CRJ RM100 (RM4,100)

11 Bank CRJ RM14,700 (RM18,800)

Sales Discounts CRJ RM300 (RM19,100)

30 Sales SJ RM20,000 RM900

 Cash

Date Particulars Ref. Dr Cr Bal

2023
Balance RM10,000 RM10,000
Nov 1

30 Miscellaneous a/c CRJ RM17,000 RM27,000

Miscellaneous a/c CPJ RM1,150 RM25,850

Bank
Date Particulars Ref. Dr Cr Bal
2023
Balance RM30,000 RM30,000
Nov 1

30 Miscellaneous a/c CRJ RM20,000 RM50,000

Miscellaneous a/c CPJ RM6,692 RM43,308

A/C Receivable- Mad Berhad

Date Particulars Ref. Dr Cr Bal

2023
Balance RM800 RM800
Nov 1

5 Bank CRJ RM400 RM400

A/C Receivable- Bestie Berhad

Date Particulars Ref. Dr Cr Bal
2023
Sales SJ RM5,000 RM5,000
Nov 2

10 Bank CRJ RM4,900 RM100

Sales Discount CRJ RM100 RM0

A/C Receivable- JJ Enterprise

Date Particulars Ref. Dr Cr Bal
2023
Sales SJ RM15,000 RM15,000
Nov 3

11 Bank CRJ RM14,700 RM300

Sales Discount CRJ RM300 RM0

 A/C Payable- Qila Enterprise
Date Particulars Ref. Dr Cr Bal
2023
Balance RM1,000 RM1,000
Nov 1

13 Bank CPJ RM910 RM90

Purchase Discount CPJ RM90 RM0

A/C Payable- Sussy Trading

Date Particulars Ref. Dr Cr Bal
2023
Purchases PJ RM2,000 RM2,000
Nov 15

20 Purchases return GJ RM100 RM1,900

24 Bank CPJ RM1,862 RM38

Purchases discount CPJ RM38 RM0

A/C Payable- Shamila Trading

Date Particulars Ref. Dr Cr Bal
2023
Purchases PJ RM4,000 RM4,000
Nov 16

25 Bank CPJ RM3,920 RM80

Purchases Discount CPJ RM80 RM0

 Nutty Nutty Enterprise
Trial Balance for the month ended November 30, 2023

Particulars Dr (RM) Cr (RM)

Cash 25,850

Bank 43,308

Vehicle 30,000

Inventory(nuts) 15,000

Furniture 2,500

Equipment 8,000

Prepaid Rent 1,200

Account Receivable 900

Drawings 600

Freight-out 450

Sales discount 400

Purchases 6,100

Account Payable 1,500

Capital 88,500

Loan 7,000

Purchases discount 208

Purchases return 100

Sales 37,000

Total 134,308 134,308

 Nutty Nutty Enterprise
Statement of Comprehensive income for the month ended November 30, 2023

RM RM RM
Sales 37,000
Less: Sales Discounts 400
Net Sales 36,600
Less: Cost of Goods Sold
Beginning Inventories 15,000
Purchases 6,100
Less: Purchase discounts 208
Less: Purchase Returns 100
Cost of Purchases 5,792
Cost of Goods Available for Purchases 20,792
Less: Ending Inventories 15,000
Cost of Goods Sold 5,792
Gross Profit 30,808
Less: Expense
Freight-out 450
Net Profit 30,358
 REFERENCES

• Accounting Unit, Labuan Matriculation College. (2023). AA015: Accounting 1 Tutorial

Questions.
• Miller-Nobles, T.L Mattison, B.L, & Matsumura, E.M. (2021). Horngren’s Accounting (13 th
ed.). Pearson Education.
• Romney, M. B., & Steinbart, P. J. (2020). Accounting Information Systems (15 th ed.).
Pearson Education.
• Wan MAdznah, W. I., & Mohd Rizal, P. (2014). Fundamentals of Business Accounting.
Oxford Fajar S. B.
• Weygandt, J. J., Kieso, D. E., & Kimmel, P. D. (2020). Financial Accounting (14th ed.). Wiley.
• Wood, F., & Sangster, A. (2021). Business Accounting (15th ed.). Pearson Education.
 TASK 3: TOPIC 5 [ADJUSTMENT AT THE END OF ACCOUNTING PERIOD]

Question 1(a):
No. Particulars Debit Credit
Depreciation Expense - Premises
II RM6,400
Accumulated Depreciation - Premises RM6,400
Depreciation Expense - Van
RM4,500
Accumulated Depreciation - Van RM4,500
Office Supplies Expense
III RM700
Office Supplies RM700
Utilities Expense Payable
IV RM700
Utitlities Expense RM700
Freight – in
V RM400
Freight – out RM400
Insurance Prepaid
vI RM1,800
Insurance Expense RM1,800
Question 1(b):
Perniagaan Sekmung
Trial Balance as at 31 December 2022

Debit (RM) Credit (RM)

Cash 22,000

Bank 50,000

Accounts Receivable 15,000

Beginning Inventories 8,000

Office Supplies (2200-700) 1,500

Premises 80,000

Accumulated Depreciation – Premises (12800+6400) 19,200

Van 45,000

Accumulated Depreciation – Van (9000+4500) 13,500

Accounts Payable 23,000

Loans 55,000

Capital 68,800

Drawings 4,000

Sales 165,800

Purchases 70,000

Sales Returns & Allowance 2,500

Purchases Returns & Allowance 3,000

Sales Discounts 900

Purchase Discounts 2,500

Freight-in (2300+400) 2,700

Freight-out (2100-400) 1,700

Utilities Expense (1800-700) 1,100

Salaries expense 30,000

Interest Expense 600

Rental Revenue 800

Miscellaneous Expense 2,500

Office Supplies Expense 700

Depreciation Expense - Premises 6,400

Depreciation Expense - Van 4,500

Utilities Expense Payable 700

Insurance Prepaid 1,800

Total 351,600 351,600

Question 1(c):
Perniagaan Sekmung
Statement of Comprehensive Income for the year ended 31 December 2022