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    Group Assignment FAR110

    Uploaded by

    NUR NAJWA MURSYIDAH NAZRI
    The document outlines various transactions of a business over a period including the owner's capital contributions of RM20,000 cash and RM60,000 in motor vehicles. It also lists 4 credit purchases, 2 cash purchases, 4 credit sales, 2 cash sales, 2 purchases of non-current assets, 2 payments to suppliers with discounts, 2 payments from receivables with discounts, 4 payments of expenses, 2 revenues received, 2 non-current liabilities taken out, 2 drawings by the owner, 1 sales return, and 1 purchase return. Accounts payable are owed to 3 suppliers and accounts receivable is owed by 1 customer.

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    Group Assignment FAR110

    Uploaded by

    NUR NAJWA MURSYIDAH NAZRI
    141 views2 pages
    The document outlines various transactions of a business over a period including the owner's capital contributions of RM20,000 cash and RM60,000 in motor vehicles. It also lists 4 credit purchases, 2 cash purchases, 4 credit sales, 2 cash sales, 2 purchases of non-current assets, 2 payments to suppliers with discounts, 2 payments from receivables with discounts, 4 payments of expenses, 2 revenues received, 2 non-current liabilities taken out, 2 drawings by the owner, 1 sales return, and 1 purchase return. Accounts payable are owed to 3 suppliers and accounts receivable is owed by 1 customer.

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    The document outlines various transactions of a business over a period including the owner's capital contributions of RM20,000 cash and RM60,000 in motor vehicles. It also lists 4 credit purchases, 2 cash purchases, 4 credit sales, 2 cash sales, 2 purchases of non-current assets, 2 payments to suppliers with discounts, 2 payments from receivables with discounts, 4 payments of expenses, 2 revenues received, 2 non-current liabilities taken out, 2 drawings by the owner, 1 sales return, and 1 purchase return. Accounts payable are owed to 3 suppliers and accounts receivable is owed by 1 customer.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    141 views2 pages

    Group Assignment FAR110

    Uploaded by

    NUR NAJWA MURSYIDAH NAZRI
    The document outlines various transactions of a business over a period including the owner's capital contributions of RM20,000 cash and RM60,000 in motor vehicles. It also lists 4 credit purchases, 2 cash purchases, 4 credit sales, 2 cash sales, 2 purchases of non-current assets, 2 payments to suppliers with discounts, 2 payments from receivables with discounts, 4 payments of expenses, 2 revenues received, 2 non-current liabilities taken out, 2 drawings by the owner, 1 sales return, and 1 purchase return. Accounts payable are owed to 3 suppliers and accounts receivable is owed by 1 customer.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Group Assignment FAR110 (due date: June 28, 5:00 pm)

    Contribution of capital by the owner of the business: Cash


    - The owner contributed RM20,000 cash and deposited the money into the business bank
    account
    Contribution of capital by the owner of the business: Non-Current Asset
    - The owner brought in motor vehicles amounting RM60,000 into the business.
    3 credit purchases
    - Purchased goods from Aiman Enterprise RM4,000 on credit.
    - The business purchased a machine on credit worth RM7,000 from Chan Trading.
    - The business received an invoiced amounted to RM5,000 from Dheo Sdn Bhd with credit
    term, 2/10, net 30.
    2 cash purchases
    - Made a cash purchase of goods RM1,500 from Ahmad Enterprise.
    - Purchase an office equipment by cash amounted RM6,000 from HN Enterprise.
    4 credit sales
    - Issued an invoice to Amna’s Stationery Sdn Bhd for goods worth RM5,500 with a credit
    term 2/10, net 30.
    - An invoice value RM7,000 was issued to Nazmi Trading for sale of goods. The credit
    term for the sales 3/15, n/60.
    - Sold goods on credit to Kita Sdn Bhd RM10,000 with 2% of trade discount.
    - Sold goods on credit to Kami Enterprise RM3,000.
    2 cash sales
    - Sold goods on cash to Leo RM1,500
    - Sold goods on cash amounting to RM700 to Zahra Enterprise.
    2 purchases of non-current asset
    - Purchased a van worth RM10,000 by cheque.
    - Furniture purchases amounting to RM6,000 from Qayla’s Furniture.
    2 payments to supplier plus discount
    - Paid Dheo Sdn Bhd by cash for settlement of credit purchased on 11 June 2022.
    - Made a payment to Aiman Enterprise for the settlement of credit purchase on 2 June
    2022 by cheque.
    2 payments by receivables plus discount
    - Received cheque from Amna’s Stationery for the credit sales settlement on 4 June 2022.
    - Received a payment from Nazmi Trading for credit sales settlement on 22 June 2022.
    4 transactions on payment of expenses
    - Paid the worker salary RM3,000 by cheque.
    - Paid RM500 for rental by cash.
    - Issued a cheque for advertisement amounted RM2,000.
    - Made a payment for utilities worth RM250 by cash.
    2 transactions on revenue received
    - Received a commission amounting to RM5,000
    - Rental received amounting RM300.
    2 transactions on non-current liabilities: Loan, etc.
    - Made loan worth RM12,000 from ABC Bank
    - Withdrew RM15,000 from the business bank account as an investment in a fixed deposit
    account.
    Drawings of goods and cash by the owner
    - The owner took goods worth RM500 for personal use.
    - The owner withdrew cash amounting RM200 for personal use.
    1 transaction on sales return
    - Amna’s Stationery Sdn Bhd returned goods worth RM300 due to defects. The refund was
    made through online banking.
    1 transaction on purchase return
    - Received a credit note from Dheo Sdn Bhd for defect goods returned worth RM250.

    A/C Payable:
    - Aiman Enterprise
    - Chan Trading
    - Dheo Sdn Bhd
    A/C Receivable:
    - Amna’s Stationery

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