BASIC ACCOUNTING FOR TOURISM & HOSPITALITY

FIRST EDITION BASIC ACCOUNTING FOR TOURISM & HOSPITALITY NORAZURA MASDOR HAFIZAH ISMAIL

Editor Hafizah Binti Ismail Writer Norazura Binti Masdor Hafizah Binti Ismail Designer Norazura Binti Masdor Application Publishers and Developers Norazura Binti Masdor 1st Edition 2023 e ISBN 978-967-26943-6-6 All rights reserved. No part of this work may be reproduced, stored in any form or by any means without the written permission of the publisher. Published by: Politeknik METrO Kuantan No.A-5, Jalan Tun Ismail 2 Sri Dagangan II, 25000 Kuantan PAHANG

ACKNOWLEDGEMENT We would like to record our warm appreciation and thanks to the many parties who have provided encouragement and helpful comments towards the arrangement of this Basic Accounting for Tourism & Hospitality eBook. It is our hope that this eBook would help students to gain better understanding of this course. NORAZURA BINTI MASDOR Senior Accounting Lecturer Department of Tourism & Hospitality Politeknik METrO Kuantan

PREFACE Basic Accounting for the Tourism and Hospitality is a comprehensive accounting e-book for undergraduate students. Suitable for programmes structured on a modular or traditional basis, the book is primarily targeted at students studying accounting within the tourism and hospitality sectors. It is also suitable for other courses such as marketing and business studies programmes. This e-book promotes a balanced approach to studying accounting by providing both a conceptual background and a practical application of the subject to the relevant sectors. It employs accessible and student-friendly design, with clear learning outcomes and end-of-chapter comprehensive summaries. It promotes learning through worked examples, real-life case scenarios and tutorial questions all related to the relevant industry sectors. Several important topics include introduction to accounting, source documents, books of first entry, accounting ledgers, trial balance, and financial statements to give a comprehensive view of the subject. In addition, the tutorial exercises are given at the end of each topic to test students understanding in the particular topic. We hope this eBook will be useful for all students especially for Polytechnic students under Department of Tourism & Hospitality Department to understand and grasp the accounting practice well. Suggestions for improving the coverage and the content of this eBook are most welcome from the endusers. We honestly feel and hope that these suggestions will greatly help us further improve the quality of the eBook. NORAZURA BINTI MASDOR Senior Accounting Lecturer Department of Tourism & Hospitality Politeknik METrO Kuantan

01 02 03 TABLE OF CONTENTS INTRODUCTION TO ACCOUNTING 1.1. Introduction to Accounting 1.2. Bookkeeping Definition 1.3. Accounting Definition 1.4. Similarities Between Accounting & Bookkeeping 1.5. Differences Between Accounting & Bookkeeping 1.6. Accounting Concept 1.7. Accounting Cycle 1.8. Users of Accounting Information 1.9. Tutorial Exercise SOURCE DOCUMENTS 2.1. What is Source Document? 2.2. Source Document Before Business Activity 2.3. Source Document During Business Activity 2.4. Source Document After Business Activity 2.5. Tutorial Exercise BOOK OF FIRST ENTRY 3.1. General Journal Format 3.2. Special Journal Format 3.3. Cashbook Format 3.4. Recording Discount 3.5. Tutorial Exercise 04 LEDGERS 4.1. What is a Ledger? 4.2. Types of Account 4.3. Tutorial Exercise Page : 1 Page : 16 Page : 29 Page : 50

05 06 07 TABLE OF CONTENTS TRIAL BALANCE 5.1. What is Trial Balance 5.2. Purposes of Trial Balance 5.3. Format Trial Balance 5.4.Tutorial Exercise FINANCIAL STATEMENT 6.1. What is Financial Statement 6.2. Purposes of Financial Statement 6.3. Statement of Comprehensive Income 6.4. Statement of Financial Position 6.5. Tutorial Exercise ADJUSTED FINANCIAL STATEMENT 7.1. Introduction 7.2. Format For Adjusted SOCI 7.3. Format For Adjusted SOFP 7.3. Tutorial Exercise 08 MOCK FINAL EXAM QUESTION Page : 72 Page : 77 Page : 89 Page : 101

TOPIC 1 INTRODUCTION TO ACCOUNTING

Recording financial transactions. Posting debits and credits. Producing invoices. Maintaining and balancing current accounts, historical accounts, and general ledgers. Completing payroll. Bookkeeping is part of accounting. It involves the initial accounting process, which involves classifying, recording, and summarizing business transactions. These business transactions are recorded based on the company’s accounting principles and supporting documentation. Examples of bookkeeping activities; Every business needs accounting. A businessman needs to know how much cash went out and how much cash came in for his business. Accounting can give such information together with other important matters for business owners. It helps a business in the short and long-term decision-making. 1.1. INTRODUCTION TO ACCOUNTING Accounting is a process of identifying, classifying, recording, and summarizing business transactions in monetary units and analyzing and interpreting the financial data of a business to assist stakeholders in making decisions Accounting helps in determining the financial position of a company and presenting the same to stakeholders. conveys the credibility of a company to the market. 1.2. BOOKKEEPING DEFINITION 1.3. ACCOUNTING DEFINITION 1

Differences BOOKKEEPING ACCOUNTING Definition Bookkeepingispartofaccounting.It involves the initialprocessofaccounting whichinvolvetheprocessofclassifying, recordingandsummarizingbusiness transactions Accounting isaprocessofidentifying,classifying, recordingandsummarizingbusiness transactions inmonetaryunitsandanalyzingand interpretingthefinancial dataofabusiness in ordertoassist stakeholders inmakingdecisions. Activities Bookkeepingonlyinvolvedseveralparts ofthewhole accountingactivities.Itonly involvetheprocessofclassifying,recording andstopat summarizingbusiness transaction. Thecompleteaccountingactivities involve identifying, classifying,recordingand summarizing business transactions.Accounting activitiescontinueanalyzingand interpretingthe financialdataofabusiness inordertoassist stakeholders inmakingdecisions. Person InCharged Bookkeeper Bookkeepersarerequiredto beaccurateintheir workand knowledgeableaboutfinancialtopics. Bookkeepers'workisusually overseenby anaccountant Accountant Accountantswithsufficient experienceand educationcanobtainthetitleof CertifiedPublicAccountant(CPA) All the bookkeeping activities examine financial activities in business reports and financial statements adhering to accounting principles, rules, and regulations analyses and evaluate financial data in order to communicate the firm’s financial state and performance to company executives. Examples of accounting activities; 1.4. SIMILARITIES BETWEEN ACCOUNTING & BOOKKEEPING Bookkeepers and accountants are the only two professions that work with financial data. Knowledge of accounting fundamentals is necessary Bookkeepers and accountants also categorize the transactions using financial data and provide reports utilizing that data There are several similar characteristics between Accounting and Bookkeeping. They are: 1.5. DIFFERENCES BETWEEN ACCOUNTING & BOOKKEEPING 2

1.6. ACCOUNTING CONCEPTS - a business and its owner are separate entities. - business transactions must be accounted for separately from the owner’s transactions. Business Entity 01 -it is assumed that a business will continue to expand and operate in the future. Going Concern 02 - All transactions are recorded in the country’s monetary unit. (Monetary value is assumed to `be stable.) - Ringgit Malaysia (RM) as monetary value. Monetary Unit 03 - business activities can be divided into specific periods. - must be consistent to enable comparison of business performance between accounting periods. Accounting Period 04 -All expenses incurred to generate revenue must be reported within the period in which the revenue is reported. Matching 05 3

- -records the cost value or the actual price stated in the source documents (the current value at the time of the transaction) Historical Cost 06 -- basic of an accounting system - business transactions must be recorded in two accounts: one account is debited, and the other account is credited with the same amount. Double Entry 07 --published accounting information must always be relevant, timely, reliable, unbiased, and free from mistakes or errors. Full Disclosure 08 -The exercise of caution when making judgments under conditions of uncertainty. The exercise of prudence means that assets and income are not overstated, and liabilities and expenses are not understated. Prudence 09 - each transaction must be recorded based on objective evidence or verified and unbiased information. - Example: The transaction must be supported with some documents such as sales invoice, receipt, and cheque butt. Objectivity 10 4

The accounting cycle is a basic, eight-step process for completing a company’s accounting tasks. It provides a clear guide for the recording, analysis, and final reporting of a business’s financial activities. The accounting cycle is used comprehensively through one full reporting period. 1.7. ACCOUNTING CYCLE 5

BOOK OF FIRST ENTRY - The next step is to record the transactions in the book of the first entry. - Book of the first entry is either a journal or cashbook. - There are two types of journals i.e., General Journals and Special Journal. - Cashbook also has two types i.e. Two Column Cashbook and Three Column Cashbook LEDGER - Transactions are posted to the general ledger (also called an account) after being entered into the book of the first entry. - A general ledger is an essential part of accounting, where all financial transactions are recorded and kept. - Ledgers can be categorized into 5 types. o Assets o Liabilities o Equities o Expenses o Revenues - The accounting cycle starts with the identification of business transactions through source documents. When financial activities or business events occur, transactions are recorded in the source document such as invoices, vouchers, receipts, or memos. - For example, when a sales invoice is issued, it shows that a credit sales transaction occurred for the business. SOURCE DOCUMENT 6

ADJUSTMENT - The next step is to identify any entries/errors that need to be adjusted. - At this stage, it is crucial to ensure all revenue and expenses that have been recorded represent only those incurred for the accounting period. Any inconsistencies should be addressed by making relevant adjustments. ADJUSTED TRIAL BALANCE - An adjusted trial balance lists the general ledger account balances after any adjustments have been made. FINANCIAL STATEMENTS - Financial statements are a set of reports that show a business’s financial status and performance at a specific point in time. - There are four main financial statements: o Statement of Comprehensive Income o Statement of Financial Position o Statement of Cashflows o Statement of Changes in Equities - Trial balance is a statement that shows the closing balance of all accounts in the general ledger. - It consists of two columns: one for debit balances, and one for credit balances. To keep the books balanced, the total of each column should be equal. TRIAL BALANCE 7

There are two types of users of accounting information: internal and external user. FINANCIAL REPORT -Financial reporting is the process of providing information to company stakeholders to make decisions. 1.8. USERS OF ACCOUNTING INFORMATION Internal Internal External External Internal users refer to the people in the organization producing the accounting reports. External users are the people, institutions, and entities outside the organization’s boundaries who use the information for the purpose of decision-making. 8

01 Use accounting information to assess how their business is going and what is the level of risk involved in it. They use accounting information to determine the level of stability in the business over the years and the impact of economic factors on business. Financial statements help them in understanding the profitability of the overall business and products. They can decide whether they should invest in a business or if they should use resources in other areas. Business Owner Employees in the Finance department will use financial information to prepare and review financial reports such as financial statements. Other employees use the accounting information in the annual report to gain a better understanding of the business and to be able to assess how their company is performing. Employees 02 Managers plan, monitor and make decisions that are relevant to the business. They allocate resources to appropriate business activities to provide for the needs of the business. Managers need accounting information to monitor the performance of the business by comparing it against past information, KPIs, industry benchmarks, and competitor analysis. Managers Internal Users 03 9

01 need the information to know how well their investment is performing. Investors primarily rely on the financial statements published by companies to assess the profitability, valuation, and risk of their investments. Investors use accounting information to determine whether an investment is a good fit for their portfolio and whether they should hold, increase, or decrease their investment. Investors Use accounting information to determine the creditworthiness of the business. Based on this assessment, they decide whether they should offer goods and services on credit to the business. Suppliers 02 Use business information to determine whether the amount of tax declared by the business in its tax returns is correct. Use accounting information to verify the information filed on tax returns, and accounting records of customers and suppliers to prevent tax evasion. Tax authorities External Users 03 Need accounting information about its suppliers in order to assess whether they have the required resources that are necessary for a steady supply of goods or services in the future. Continuity in the supply of quality inputs is essential for any business. Customers 04 10

A. DEFINE AND DIFFERENTIATE BOOKKEEPING AND ACCOUNTING 1. Define bookkeeping 2. Explain accounting 3. Differentiate between internal and external users of accounting information in term of: a. Definition b. Example (Give three examples each) 4. Differentiate between bookkeeping and accounting TOPIC 1: PRACTICAL EXERCISE 11

a. Each transaction must be recorded based on objective evidence or verified and unbiased information b. Business is viewed as separate from its owners, managers, and employees of the business. c. Business Is assumed to continue operating indefinitely d. Business activities are divided into specific periods and this period must be consistent. e. Businesses should report information that is relevant, reliable, timely, unbiased and free from mistakes or errors regarding business activities. f. Currency is used as a unit of measure g. Revenue should be offset by all the expenses incurred in producing the revenue. h. All transactions are recorded at their original cost i. Caution is used by recording losses when expected but gains will only be recorded when certain/confirmed. B. EXPLAIN ACCOUNTING CONCEPTS AND PRINCIPLES 1. Fill in the blank with the correct accounting principle. 12

Duration Starting Date Closing Date Yearly 31 March 2023 Monthly 28 February 2023 Semi-Annually 1 June 2022 Quarterly 1 October 2022 1 July 2022 30 September 2022 1 December 2022 31 December 2022 1 February 2022 31 January 2023 Quarterly 28 February 2023 Monthly 1 April 2023 Semi-Annually 31 May 2023 2. An accounting period is the period of time covered by a company's financial statements. Fill in the blank with the accurate date/answer. 13

C. DISCUSS THE ACCOUNTING CYCLE 1. Illustrate a complete accounting cycle. 14

TOPIC 2 SOURCE DOCUMENTS

2.1. USERS OF ACCOUNTING INFORMATION The first step in the accounting cycle is a source document. It is a document that proves a transaction has occurred. A source document contains details of a business transaction such as the date of the transaction, names of parties involved, or the amount paid. Source documents can be categorized into 3 types a. Source document before business activity b. Source document during business activity c. Source document after business activity 2.2. SOURCE DOCUMENT BEFORE BUSINESS ACTIVITY Enquiry Letter - It is the first step in procurement activity. - Sent by the purchaser to the supplier to request for the details and quotation of the product - Normally it is sent to several suppliers for making comparisons. Response Letter - Also known as Quotation - Sent by the supplier to the purchaser to answer the question from enquiry letter. - It consists of list of price goods ordered by the purchaser, a list of prices of all the goods that have been sold by the supplier and a catalogue. Order Form - issued by the purchaser and sent to the company which supplies the goods. - It specifies the quantity, type and price of goods required. 15

E x a m p l e o f R e s p o n s e L e t t e r 16

2.3. SOURCE DOCUMENT DURING BUSINESS ACTIVITY a. Delivery Note - Send by the supplier to the purchaser with the goods and the buyer signs and returns this to the supplier as proof of received. - Also known as goods received note. - Important matter: Ensure the purchaser checked on the condition of the goods received whether there are any defects. Ensure purchaser signed on the delivery note to confirm the goods have been received. 17

b. Invoice - Send by supplier to purchaser. - Showing the details of a credit sale. - The invoice consists of the following: - Name & address of purchaser Invoice date Invoice no. Customers order Quantity’s order Item description Discount item Example of Invoice 18

2.4. SOURCE DOCUMENT AFTER BUSINESS ACTIVITY a. Cheque and cheque butt Cheque is one of the more common forms of payment used. an authorization to draw funds from a bank account. a cheque must state the name of the payee, the amount to be paid, and the date. Example of Cheque b. Receipts and Cash Voucher A receipt is issued by the supplier to the purchaser when the payment was settled on the amount due on the goods or services supplied. Receipts consist of the following: Payment date Number of cheques if the payment made through a bank Total amount. Name of company Cash Voucher is a standard form used to document a petty cash payment. It is also used to record the transaction do not have a receipt or bills. 19

Example of Receipt c. Debit Note Debit note is the statement prepared by the supplier to the purchaser to inform that additional charge to be imposed to the original invoice, which issued in the earlier. The debit note is issued when: Additional charge to the purchaser on the goods delivered. Example: transport charges The unit price stated is lower than the original price sold. Additional charges imposed when there is a change of goods. Interest to be charged to the purchaser on late repayment. 20

Example of Debit Note 21

d. Credit Note Credit note is prepared by the supplier to the purchaser to reduce the debts (reduce the invoice amount). The credit note was issued when: There is a return of defect goods There is an additional unit price been charged in the invoice. Example of Credit Note 22

e. Account Statement Account statement is a record list of transactions that happened between suppliers and purchasers within a period, normally 1 month. to ensure purchaser checks and compares the details in the statement with invoices, debit notes, credit notes and official receipts received unit the period stated in the statement. a reminder that the outstanding debts must be settled by the purchaser when period due. Example of Account Statement 23

f. Memo Memo is a notice that consists information about the business. Used when there is an increase in capital, drawings or other extraordinary event. Example of memo/notice: To add additional capital Withdrawals of goods, cash and fixed asset by the owner Example of Memo 24

NO TRANSACTION SOURCE DOCUMENT EXPLANATION 1 Credit purchased Invoice Received Purchaser (Customer) received invoice from supplier (seller) after receiving goods from supplier 2 Cash purchases Cash bill Received Purchaser(customer) received cash bill from supplier (seller) after paid and received goods from supplier at the same time 3 Cash sales Cash bill Issued Seller (Supplier) issued cash bill to purchaser after purchaser paid and received goods at the same time 4 Credit sales Invoice Issued Seller (Supplier) issued invoice to purchaser after sending goods to purchaser (Customer) 5 Return Inwards (Sales Return) Credit Note Issued Seller (Supplier) issued Credit Note to reduce the earlier invoice due to defect product returned by purchaser(customer) 6 Return Outwards (Purchase Return) Credit Note Received Purchaser received Credit Note from Seller (Supplier) to reduce the earlier invoice for the defect goods returned to supplier 7 Drawing by cheque Memos Owner used business cash @ bank for personal matters 8 Drawing of assets Memos Owner used business assets for personal matters 9 Customers paid their debts Receipt Issued Seller (Supplier) issued receipt after purchaser made payment 10 Additional capital Memos Owner adds cash/cash @ bank/ assets into the business 11 Requesting a detail of goods from supplier Account Summary Purchaser request one month summary of transactions between purchaser and supplier SUMMARY OF SOURCE DOCUMENT 25

SOURCE DOCUMENT EXPLANATION Enquiry Letter Invoice Credit Note Delivery Note Account Statement Debit Note Purchase Order Response Letter Cheque Receipt Payment Vouchers TOPIC 2: PRACTICAL EXERCISE A. DISPLAY THE DOCUMENTS USED BEFORE, DURING AND AFTER BUSINESS ACTIVITIES. 1. Explain briefly the following document 26

2. Choose the correct answer. i. A Source Document provides the details of a financial transaction. a. True b. False ii. Source Documents do not provide proof that a transaction has occurred. a. True b. False iii. Source Documents are often assigned a unique number so they can be tracked by the accounting system. a. True b. False iv.A business makes a cash sale, what accounting source document is issued? a.Credit note b.Receipt v.A credit sale is made to a customer, which accounting document is issued to the customer? a.Invoice b.Receipt vi.A business makes a cash purchase, which accounting source document is received by the business? a.Receipt b.Cheque vii.At the end of an accounting period a business reconciles transactions with a supplier using which accounting source document? a.Purchase Order b.Account Statement 27

Cheque Quotat ion Purchase Order Special Journal Account Statement Account Ledger viii.A source document is: a.The origin of the information that is recorded into the accounting books b.The origin of the information that is taken from the accounting books c.Not the origin of information that is recorded into the accounting books d.All of the above ix.Credit notes are issued when ________. a.The seller delivers goods to the purchaser b.Goods are returned to the seller by the purchaser c.There is not enough money in the bank d.The goods are purchased back by the seller x.Which of the following are examples of source documents? 28

TOPIC 3 BOOK OF FIRST ENTRY

A company's financial transactions are recorded in an accounting journal. Business transactions are recorded sequentially, and journals allow companies to keep track of high-volume transactions. They could include a sales journal, purchasing journal, and general journal. Transactions were originally recorded in a journal by hand and then posted to the general ledger. A journal generally includes the date of a transaction, the accounts involved, and the value of the transaction. They are an important part of record-keeping, making it easier to review and move records at any time during the accounting process. There are two types of journals. 3.1. WHAT IS THE BOOK OF FIRST ENTRY? The book of first entry refers to accounting books where all business transactions are initially recorded before being transferred to ledger accounts. In these books, all source documents such as invoices, vouchers, cash transactions, and other items are originally documented. There are two main books of first entry Journals and cashbooks. 3.2. JOURNALS i. General Journals ii. Special Journals 29

i. General Journals General Journal is used to record all company transactions based on the time sequence. Consists of two lines (debit and credit). It is used to record, a. Initial entry for a new startup business or a business that first records its assets, liabilities, and capital to accounting books. b. Purchase of non current assets on credit from supplier/creditor c. Sale of non current assets on credit to customer/debtor d. Any additional capital brought in by the owner to the business. e. Any withdrawals/drawings made by the owner. 30

ii. Special Journals Special journals are all accounting journals except for the general journal. It is used to record special transactions related to sales and purchases transaction. There are 4 types of special journals. a. Sales Journal – to record sales of goods to customers/debtors on credit b. Sales Return Journal – to record return of goods by customers/debtors c. Purchase Journal – to record purchase of goods from supplier/creditor on credit d. Purchase Return Journal – to record the return of goods to suppliers/creditors 31

3.3. GENERAL JOURNAL FORMAT 32

3.4. SPECIAL JOURNAL FORMAT FORMAT PURCHASE JOURNAL FORMAT PURCHASE RETURN (RETURN OUTWARD) JOURNAL 33

FORMAT SALES JOURNAL FORMAT SALES RETURN (RETURN INWARD) JOURNAL 34

3.5. CASHBOOK A cash book is a financial journal that contains all cash receipts and disbursements, including bank deposits and withdrawals. The primary goal of a cash book is to manage cash efficiently, making it easy to determine cash balances at any point in time, allowing managers and company accountants to budget their cash effectively. It is also much faster to access cash information in a cash book than by following the cash through a ledger. FORMAT CASH BOOK (3 COLUMN) 35

FORMAT CASH BOOK (2 COLUMN) 3.6. RECORDING DISCOUNT Discount can be categorized as a trade discount and cash discount Trade Discount Discount or reduction in price of goods given by a business to their customers for purchase of goods in large quantities. (in bulk) Trade discount given to customers result in business receiving less Trade discount received from supplier result in business paying less Trade discount will not be recorded in accounting books (ledger). Usually it is recorded in source document and stated as working in sales or purchase journal 36

Cash Discount Discount or reduction in debts given by business to their customers to encourage early settlement of debts. Two types of cash discounts: Cash discount will be recorded in accounting books (cashbooks & ledger). i. Discount received (revenue) A discount received by the business from its suppliers. This will mean that the business pays less than the amount it owes to its suppliers ii. Discount allowed (expenses) A discount given by the business to its customers. This will mean that the business receives less than the amount owed by its customers 37

TOPIC 3 : PRACTICAL EXERCISE A. EXPLAIN BOOK OF FIRST ENTRY 1. Differentiate between general journal and special journal 2. Differentiate between “trade discount” and “ cash discount” 3. Explain Cashbook 4. Classify each of the following transaction to the correct book of first entry 38

B. RECORD TRANSACTION INTO GENERAL JOURNAL AND SPECIAL JOURNAL GENERAL JOURNAL 1. OPENING ENTRY: NEW BUSINESS On 1 January 2022, Aisyah started a new transportation business with the following: Cash in hand RM5,000 Cash at bank RM140,000 Motor Vehicles RM554,000 Record the above transaction in the general journal 2. OPENING ENTRY: RUNNING BUSINESS On 1 June 2022, the balance of assets, liabilities and equity for Le’ Roses Cuisine are as follows: Building RM600,000 Furniture RM40,000 Bank RM154,000 Inventory RM37,585 Debtors- Banana Cafe RM14,000 Creditors- Mia Bakery RM79,000 Record the above transaction in the general journal 3. PURCHASE OF FIXED ASSET ON CREDIT June 4 Purchase cooking oven on credit from Pasanosic Bhd RM8,000 5 Bought Computer for cashier RM4,000 from Vast It Trading on credit 4. SALE OF FIXED ASSET ON CREDIT June 7 Sold used furniture on credit to Kedai Makan Mama for RM3,800 10 Sold another used furniture to Lala Kitchen RM1,400 on credit 5. DRAWINGS GOODS & FIXED ASSET June 14 Owner took goods RM500 for her family 15 Owner took furniture valued RM1,700 for her personal use. 39

6. ADDITIONAL CAPITAL June 20 Owner brought in his own car worth RM100,000 to be used for the business 25 Owner transferred RM50,000 from his personal account to the business bank. 7. COMPLETE GENERAL JOURNAL The following transactions were extracted from Maya Travel and Tours for the month of April 2022. Maya starts her business with the following accounts: Cash RM20,000 Furniture RM6,900 Bank RM4,500 Office Equipment RM2,900 Debtors- Amir RM8,000 Creditors- Monisha RM10,000 The followings are the transaction for month of April 2022: April 9 Purchase furniture and receive invoice worth RM2,000 from Syarikat Perabot Hup Huat 11 Issued invoice RM3,500 to Majestic Restaurant for sales of used company computer 12 Maya issued cheque RM2,000 for personal use 13 Maya add RM3,000 cash from her own account into the business. Record all the above transaction into general journal SPECIAL JOURNAL: PURCHASE JOURNAL 8. April 10 Purchased goods from Malik Supplier RM4,100 on credit 11 Received invoice from Zen Zen Cafe RM500 for purchase of goods 12 Bought goods on credit RM8,000 from Mama Caterer 13 Purchase goods from Malik Supplier RM3,400 on credit Record all the above transaction into purchase journal 40

SPECIAL JOURNAL: PURCHASE RETURN JOURNAL 9. April 11 Return defect goods to Malik Supplier RM400 14 Return expired goods to Zen Zen Cafe RM90 SPECIAL JOURNAL: SALES JOURNAL 10. April 12 Sold goods to Amir RM1,600 on credit 11 Issue invoice RM7,600 to Papa Grill for sales of goods 12 Sold goods on credit RM11,000 to Puteri Traders 13 Sold goods to Happy Meal Hut RM3,100 on credit SPECIAL JOURNAL: SALES RETURN JOURNAL 11. April 21 Papa Grill returned defect goods RM900 24 Puteri Traders returned expired goods RM1,400 12. Prepare the appropriate journal entries for the following transaction Adriana, a sole proprietor started a new bakery business on 1 January 2022. The followings are the transaction for month January 2022; 41