GROUP PROJECT 1 (EXAMPLES OF TRANSACTIONS)

PART B (JOURNAL ENTRIES)

DATE E.G OF TRANSACTIONS CATEGORIES

OCT 1 Mr Dewey contributed RM60,000 cash into the CASH CAPITAL CONTRIBUTION
business
5 Mr. Dewey brought in a second hand motor van NON CASH CAPITAL
worth RM25,000 into the business CONTRIBUTION
7 Mr Dewey purchase office equipment amounting to CREDIT PURCHASE OF NCA
RM4,000 on credit from Sidney Trading
10 Dewey Furniture purchase delivery van worth CASH PURCHASE OF NCA
RM20,000 by cash
11 Dewey Furniture purchase RM1,200 worth of lamps CREDIT PURCHASE
from their supplier, Stu Lighting on credit
15 Dewey Furniture purchase RM900 worth of file CASH PURCHASE
cabinets from Gale Trading by cash
16 Mr. Dewey withdrew RM500 cash from the business CASH DRAWING
because he wanted to pay for his wife medical bills
18 Dewey Furniture sold RM2,000 worth of tables to CREDIT SALES
Miss Tatum on credit
20 Mr. Dewey took out RM1,500 worth of chairs from GOODS DRAWING
the business as a gift to his cousin
22 Dewey Furniture sold RM3,000 worth of antique table CASH SALES
to Mr. Randy. Mr Randy paid the business using cash
24 Dewey Furniture receive RM4,000 worth of long term NON CURRENT LIABILITY
loan using cheque
26 Dewey Furniture returned RM400 worth of lamps to PURCHASE RETURN
Stu Lighting
27 Dewey Furniture paid RM1,000 worth of utilities bill EXPENSES
by cheque
28 Miss Tatum returned RM500 worth of tables to the SALES RETURN
business due to the wrong specifications
30 Dewey Furniture received rent income from Madam REVENUE/INCOME
Casey amounting to RM700 cash
 Effects Journal Entries
Date Transactions Increase Decrease Debit Credit
OCT 1 Mr Dewey Owner’s Capital
contributed equity
RM60,000 cash
into the Asset Cash
business
5 Mr. Dewey Asset Motor van
brought in a
second hand
motor van Owner’s Capital
worth equity
RM25,000 into
the business
7 Mr Dewey Asset Office
purchase office equipment
equipment
amounting to Liability Account
RM4,000 on payable-
credit from Sidney Trading
Sidney Trading
10 Dewey Asset Delivery van
Furniture
purchase
delivery van Asset Cash
worth
RM20,000 by
cash
11 Dewey Expense Purchase
Furniture
purchase
RM1,200 worth Liability Account
of lamps from payable-Stu
their supplier, Lighting
Stu Lighting on
credit
15 Dewey Expense Purchase
Furniture
purchase
RM900 worth of Asset Cash
file cabinets
from Gale
Trading by cash
16 Mr. Dewey Owner’s Drawing
withdrew equity
RM500 cash
from the
business Asset Cash
because he
wanted to pay
 for his wife
medical bills
18 Dewey Revenue Sales
Furniture sold
RM2,000 worth Asset Account
of tables to receivable-
Miss Tatum on Miss Tatum
credit
20 Mr. Dewey took Owner’s Drawing
out RM1,500 equity
worth of chairs
from the Expense Purchase
business as a
gift to his cousin
22 Dewey Revenue Sales
Furniture sold
RM3,000 worth
of antique table
to Mr. Randy. Asset Cash
Mr Randy paid
the business
using cash
24 Dewey Liability Long term
Furniture loan
receive
RM4,000 worth Asset Bank
of long term
loan using
cheque
26 Dewey Expense Purchase
Furniture return
returned
RM400 worth of Liability Account
lamps to Stu payable-Stu
Lighting Lighting
27 Dewey Expense Utilities
Furniture paid
RM1,000 worth Asset Bank
of utilities bill
by cheque
28 Miss Tatum Revenue Sales return
returned
RM500 worth of
tables to the
business due to Asset Account
the wrong receivable-
specifications Miss Tatum
30 Dewey Revenue Rent income
Furniture
received rent
income from Asset Cash
Madam Casey
amounting to
RM700 cash
PART C (JOURNALS)

SALES JOURNAL (to record credit sales)

Date Particulars Amount (RM)

Oct 18 Account Receivable-Miss Tatum 2,000

PURCHASE JOURNAL (to record credit purchases)

Date Particulars Amount (RM)

Oct 11 Account Payable-Stu Lighting 1,200

PURCHASE RETURN/RETURN OUTWARD JOURNAL

Date Particulars Amount (RM)

Oct 26 Account Payable-Stu Lighting 400

SALES RETURN/RETURN INWARD JOURNAL

Date Particulars Amount (RM)

Oct 28 Account Receivable-Miss Tatum 500

CASH PAYMENT JOURNAL (to record cash purchases, cash purchase of NCA, cash or non cash
drawing) - CR CASH/CR BANK

Date Particulars Cash (RM) Bank (RM)

Oct 10 Delivery Van 20,000
Oct 15 Purchase 900
Oct 16 Drawing 500
Oct 27 Utilities 1,000

CASH RECEIPT JOURNAL

(to record cash sales, cash capital contribution, other revenue) – DR CASH/DR BANK

Date Particulars Cash (RM) Bank (RM)

Oct 1 Capital 60,000
Oct 22 Sales 3,000
Oct 24 Long Term Loan 4,000
Oct 30 Rent Income 700
GENERAL JOURNAL (all of the other transactions)

Date Particulars Debit (RM) Credit (RM)

Oct 5 Motor Van 25,000
Capital 25,000
(brought in motor van into business)
Oct 7 Office Equipment 4,000
Account Payable-Sidney Trading 4,000
(purchase of office equipment from Sidney
Trading on credit)
Oct 20 Drawing 1,500
Purchase 1,500
(took out chairs for personal use)
PART D (LEDGERS)

SALES ACCOUNT

(*debit and credit side no need to write on your final report)

DEBIT SIDE CREDIT SIDE

DATE PARTICULARS RM DATE PARTICULARS RM

OCT 31 Balance C/D 5,000 OCT 18 Account Receivable-Miss 2,000

Tatum
22 Cash 3,000

5,000 5,000
NOV 1 Balance B/D 5,000

PURCHASE ACCOUNT

DEBIT SIDE CREDIT SIDE

DATE PARTICULARS RM DATE PARTICULARS RM

OCT 11 Account Payable-Stu 1,200 OCT 20 Drawing 1,500

Lighting
15 Cash 900 31 Balance C/D 600

2,100 2,100
NOV 1 Balance B/D 600

CASH ACCOUNT

DEBIT SIDE CREDIT SIDE

DATE PARTICULARS RM DATE PARTICULARS RM

OCT 1 Capital 60,000 OCT 10 Delivery Van 20,000

22 Sales 3,000 15 Purchase 900

30 Rent Income 700 16 Drawing 500
31 Balance C/D 42,300

63,700 63,700
NOV 1 Balance B/D 42,300
 BANK ACCOUNT

DEBIT SIDE CREDIT SIDE

DATE PARTICULARS RM DATE PARTICULARS RM

OCT 24 Long Term Loan 4,000 OCT 27 Utilities 1,000

31 Balance C/D 3,000

4,000 4,000
NOV 1 Balance B/D 3,000

CAPITAL ACCOUNT

DEBIT SIDE CREDIT SIDE

DATE PARTICULARS RM DATE PARTICULARS RM

OCT 31 Balance C/D 85,000 OCT 1 Cash 60,000

5 Motor Van 25,000

85,000 85,000
NOV 1 Balance B/D 85,000

DRAWING ACCOUNT

DEBIT SIDE CREDIT SIDE

DATE PARTICULARS RM DATE PARTICULARS RM

OCT 16 Cash 500 OCT 31 Balance C/D 2,000

20 Purchase 1,500

2,000 2,000
NOV 1 Balance B/D 2,000
 ACCOUNT PAYABLE-SIDNEY TRADING ACCOUNT

DEBIT SIDE CREDIT SIDE

DATE PARTICULARS RM DATE PARTICULARS RM

OCT 31 Balance C/D 4,000 OCT 7 Office Equipment 4,000

4,000 4,000
NOV 1 Balance B/D 4,000

ACCOUNT PAYABLE-STU LIGHTING ACCOUNT

DEBIT SIDE CREDIT SIDE

DATE PARTICULARS RM DATE PARTICULARS RM

OCT 26 Purchase return 400 OCT 11 Purchase 1,200

31 Balance C/D 800

1,200 1,200
NOV 1 Balance B/D 800

ACCOUNT RECEIVABLE-MISS TATUM ACCOUNT

DEBIT SIDE CREDIT SIDE

DATE PARTICULARS RM DATE PARTICULARS RM

OCT 18 Sales 2,000 OCT 28 Sales Return 500

31 Balance C/D 1,500

2,000 2,000
NOV 1 Balance B/D 1,500
 PURCHASE RETURN ACCOUNT

DEBIT SIDE CREDIT SIDE

DATE PARTICULARS RM DATE PARTICULARS RM

OCT 31 Balance C/D 400 OCT 26 Account Payable-Stu 400

Lighting

400 400
NOV 1 Balance B/D 400

SALES RETURN ACCOUNT

DEBIT SIDE CREDIT SIDE

DATE PARTICULARS RM DATE PARTICULARS RM

OCT 28 Account Receivable-Miss 500 OCT 31 Balance C/D 500

Tatum

500 500
NOV 1 Balance B/D 500

LONG TERM LOAN ACCOUNT

DEBIT SIDE CREDIT SIDE

DATE PARTICULARS RM DATE PARTICULARS RM

OCT 31 Balance C/D 4,000 OCT 24 Bank 4,000

4,000 4,000
NOV 1 Balance B/D 4,000

MOTOR VAN ACCOUNT

DEBIT SIDE CREDIT SIDE

DATE PARTICULARS RM DATE PARTICULARS RM

OCT 5 Capital 25,000 OCT 31 Balance C/D 25,000

25,000 25,000
NOV 1 Balance B/D 25,000
 DELIVERY VAN ACCOUNT

DEBIT SIDE CREDIT SIDE

DATE PARTICULARS RM DATE PARTICULARS RM

OCT 10 Cash 20,000 OCT 31 Balance C/D 20,000

20,000 20,000
NOV 1 Balance B/D 20,000

OFFICE EQUIPMENT ACCOUNT

DEBIT SIDE CREDIT SIDE

DATE PARTICULARS RM DATE PARTICULARS RM

OCT 7 Account Payable-Sidney 4,000 OCT 31 Balance C/D 4,000

Trading

4,000 4,000
NOV 1 Balance B/D 4,000

UTILITIES ACCOUNT

DEBIT SIDE CREDIT SIDE

DATE PARTICULARS RM DATE PARTICULARS RM

OCT 27 Bank 1,000 OCT 31 Balance C/D 1,000

1,000 1,000
NOV 1 Balance B/D 1,000

RENT INCOME ACCOUNT

DEBIT SIDE CREDIT SIDE

DATE PARTICULARS RM DATE PARTICULARS RM

OCT 31 Balance C/D 700 OCT 30 Cash 700

700 700
NOV 1 Balance B/D 700
PART E (TRIAL BALANCE)

Dewey Furniture

Trial Balance as at 31 October 2023

PARTICULARS DEBIT (RM) CREDIT (RM)

Cash 42,300
Bank 3,000
Purchase 600
Drawing 2,000
Sales Return 500
Utilities 1,000
Office Equipment 4,000
Motor Van 25,000
Delivery Van 20,000
Account Receivable-Miss Tatum 1,500
Capital 85,000
Sales 5,000
Account Payable-Sidney Trading 4,000
Account Payable-Stu Lighting 800
Long Term Loan 4,000
Purchase Return 400
Rent Income 700

TOTAL 99,900 99,900