FA presentation

GOOD WOOD ENTERPRISE

DPA10013 FINANCIAL ACCOUNTING

PREPARE FOR :
PN.ASMIDAR BT AHMAD SALLEH

PREPARE BY :

THARANNI A/P GHANAPATHY (16DAT22F1049)
THARIN SUKHAVUT A/P SENG (16DAT22F1033)
FATHIAH NURULAIN BINTI MOHD SHAIFUL AZRUN

(16DAT22F1069)

CONTENTS

01
COMPANY PROFILE

02
VISION,MISSION & MOTTO

03
OBJECTIVES

04
PRODUCT & PRICE LIST

05
LEDGER, TRIAL BALANCE, COMPREHENSIVE

INCOME, FINANCIAL POSITION

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COMPANY PROFILE

ABOUT US :

Good Wood Enterprise was incorporated since
2010 and commenced its operation as national
Wood Furniture Shops. The initial capital around
RM 130,000 to start the business.

BUSINESS TYPE : Sole Proprietorship

THE PRINCIPLE ACTIVITIES :

Operation of Good Wood Enterprise

NO.TEL : 017-550 8420

ADDRESS : 293 ,Lorong Industry Megah 4,

09700 Karangan ,Kedah.

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VISION,MISSION & MOTTO

VISION

o Good wood has a vision to take the Good Wood
Enterprise to a very high level on par with the
international standard. Good Wood is committed to
the future, to use all the latest manufacturing
technologies that are available around the world.

MISSION

o Provide wood working industry with world class
features and innovative wood products to ensure a
perfect and an effective output. With the help of our
team work and dedication, we thrive to provide a
quality oriented products to our clients and customer.

‘ TRUST US WITH THE BEST ’ MOTTO

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OBJECTIVES

i.To achieve International certificate
ii.To continue the improvement of :

➢ Operating method
iii.To establish more places to do
manufacturing work
iv.To create wooden furniture according
to the comfort and wishes of the
customer.
v.To penetrate more overseas market
vi.To establish industry leadership within
the regional emerging market in the
following areas :

➢ Profitability/return and investment
➢ Operating procedure and efficiencies

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PRODUCT & PRICE LIST

TYPES OF WOOD

SOFT WOOD PRICE PER PIECES

• PINE WOOD 5.00
• CEDAR WOOD 5.50
• FIR WOOD 5.50
• SPRUCE WOOD 6.00
• HEMLOCK WOOD 6.50

HARD WOOD 8.00
8.50
• TEAK WOOD 9.00
• ROSE WOOD 10.00
• OAK WOOD 8.00
• MAPLE WOOD 10.00
• ASH WOOD 15.00
• WALNUT WOOD 9.00
• MAHOGANY WOOD
• BEECH WOOD

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PRODUCTS

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LEDGER

Date Capital Cash Purchase RM
1-Dec Sales RM Date Drawings 150
14-Dec Ms. Lim 8,500 17-Dec General expenses 500
20-Dec Sales Insurance 230
22-Dec Rent received 500 19-Dec Balance c/d 350
27-Dec Commission received 2,300 26-Dec
30-Dec 12,070
300 28-Dec
1,200 31-Dec 13,300

1-Jan Bal b/d 500
13,300

12,070

Date Capital Bank Purchase RM
1-Dec Loan RM Date Vehicle 560
23-Dec 10,000 10-Dec Husna Trading
30,000 16-Dec Utility 12,000
Salary 1,500
25-Dec Balance c/d
27-Dec 150
29-Dec 3,500
31-Dec 22,290
40,000
40,000
22,290
1-Jan Bal b/d

Date Capital Premises Balance c/d RM
1-Dec Bal b/d RM Date 45,000
45,000 31-Dec 45,000
1-Jan 45,000

45,000

Date Fixtures and Fittings Balance c/d RM
1-Dec Capital RM Date 38,500
38,500 31-Dec 38,500
1-Jan Balance b/d 38,500

38,500

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Date Capital Cash RM
31-Dec Balance c/d RM Date Bank 8,500
102,000 1-Dec Premises 10,000
Fixtures and 45,000
1-Dec Fittings 38,500
1-Dec 102,000
Balance b/d 102,000
102,000
1-Jan RM
3,860
Date Husna Trading Purchases Balance c/d
3-Dec Bank RM Date 3,860
10-Dec Cash 3,150 31-Dec
17-Dec RM
560 3,150
1-Jan Balance b/d 150
3,860 3,150
1,250
3,860
RM
Date Purchase Return Husna Trading Purchase 5,950
5-Dec Bank RM Date Balance b/d
25-Dec Discount received 300 3-Dec 500
25-Dec Balance c/d 1,500 300
31-Dec 100 6,750
1,250 6,750
3,150

1-Jan

Date Sales Ms. Lim
31-Dec Balance c/d RM Date Cash
6,750 6-Dec Cash

14-Dec Balance b/d
22-Dec
6,750

1-Jan

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Date Ms. Lim Sales Return RM
6-Dec Sales RM Date Cash 100
5,950 8-Dec Discount allowed
1-Jan Balance b/d Balance c/d 2,300
20-Dec 200
Date 20-Dec
8-Dec Ms. Lim 3,350
1-Jan Balance b/d 5,950
3,350 5,950
Date
31-Dec Balance c/d Sales Return Balance c/d RM
RM Date 100
Date 100
19-Dec Cash 100 31-Dec
1-Jan Balance b/d 100

Date 100
16-Dec Bank
1-Jan Balance b/d Purchase Return Husna Trading RM
RM Date Balance b/d 300
300 5-Dec 300
300 300

1-Jan RM
500
Drawings Balance c/d 500
RM Date
RM
500 31-Dec 12,000
500 12,000

500

Vehicle Balance c/d
RM Date
12,000 31-Dec
12,000

12,000

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Date Loan Bank RM
31-Dec Balance c/d RM Date Balance b/d 30,000
30,000 23-Dec 30,000
Date 30,000
26-Dec Cash 30,000
1-Jan Balance b/d 1-Jan

Date General Expenses Balance c/d RM
28-Dec Cash RM Date 230
1-Jan Balance b/d 230 31-Dec 230
230
Date
27-Dec Bank 230
1-Jan Balance b/d
Insurance Balance c/d RM
Date RM Date 350
29-Dec Bank 350
1-Jan Balance b/d 350 31-Dec
350

350

Utility Balance c/d RM
RM Date 150
150
150 31-Dec
150 RM
3,500
150 3,500

Salary Balance c/d
RM Date
3,500 31-Dec
3,500

3,500

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Date Discount Allowed Balance c/d RM
20-Dec Ms. Lim RM Date 200
1-Jan Balance b/d 200 31-Dec 200
200
Date RM
31-Dec Balance c/d 200 100
100
Date Discount Received Husna Trading 100
31-Dec Balance c/d RM Date Balance b/d
100 25-Dec RM
Date 100 1,200
31-Dec Balance c/d 1,200
1-Jan 1,200

Rent Received Cash RM
RM Date Balance b/d 500
1,200 27-Dec 500
1,200 500

1-Jan

Commission Received Cash
RM Date Balance b/d
500 30-Dec
500

1-Jan

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TRIAL BALANCE

Good Wood Enterprise

Trial Balance as at 31 December 2022

Accounts Debit (Dr) Credit (Cr)
RM
RM
102,000
Cash 12,070 300
6,750
Bank 22,290
1,250
Premises 45,000
30,000
Fixtures and Fittings 38,500
100
Capital 1,200
500
Purchases 3,860 142,100

Purchases return

Sales

Sales return 100

Ms. Lim 3,350

Husna Trading

Drawings 500

Vehicle 12,000

Loan

Utility 150

Salary 3,500

Discount allowed 200

General expenses 230

Insurance 350

Discount received

Rent received

Commission received

142,100

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COMPREHENSIVE INCOME

Good Wood Enterprise

Statement of Comprehensive Income for the 31 December 2022

RM RM RM

Sales 6,750

Sales Return (100)

Net Sales 6,650

Purchases 3,860
Purchases return (300)
Net Purchases 3,560
Closing stocks (560)
Cost of sales (COS)
Gross Profit (3,000)
3,650

Revenues 100 1,800
Discount received 1,200 5,450
Rent received 500
Commission received (4,430)
Total revenues 150 1,020
3,500
Expenses 200
Utility 230
Salary 350
Discount allowed
General expenses
Insurance
Total expenses
Net Profit

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FINANCIAL POSITION

Good Wood Enterprise
Statement of Financial Position as at 31 December 2022

RM RM

Non-Current Assets 45,000 95,500
Premises 38,500
Fixtures and Fittings 12,000 38,270
Vehicle 133,770
560
Current Assets 22,290
Closing stock 12,070
Bank 3,350
Cash
Ms. Lim

Owner's Equity 102,000
Capital 1,020
Net Profit 103,020
(500)
Drawings
102,520
Current Liabilities
Husna Trading 1,250

Long Term Liabilities 30,000
Loan 133,770

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