Professional Documents
Culture Documents
DATE
JUNE 1
DESCRIPTION
Vehicles
Cash
Capital
( Record capital Fazura had invest in business)
1 Rent Expenses
Furniture
Cash
( Record rental expenses and purchasing
of furniture by cash )
3 Merchandise Inventory
Account Payable -MINICYCLE
(Record Purchasing of inventory on account)
5 Transportation in
Cash
( Record transportation in for MINICYCLE)
8 Merchandise Inventory
Account Payable - BICYCLE WAREHOUSE
(Record Purchasing of inventory on account)
9 Cash
Sales
(Record cash Sales)
9 Cost Of Merchandise Sold
Merchandise Inventory
(Record cost of merchandise sold)
10 Account Payable- BICYCLE WAREHOUSE
Purchases Return & Allowances
( Record return inventory had defected )
11 Account Receivable - SUPERCYCLES SHOP
Sales
(Record sales on account)
11 Cost Of Merchandise Sold
Merchandise Inventory
(Record cost of merchandise sold)
POST.REF.
Ultrabikes Enterprise
Unadjusted Journal for June 2015
12 Account Payable- MINICYCLE
Purchases Discount
Cash
( Paid for MINICYCLE for purchases)
DATE
DESCRIPTION
12 Drawing
Merchandise Inventory
( Take 2 mountain bike for nephews)
15 Cash
Long-term Loan
(Obtained a loan from GG BANK BERHAD )
18 Account Receivable - HAPPYBIKE CENTRE
Sales
(Record sales on account)
18 Cost Of Merchandise Sold
Merchandise Inventory
(Record cost of merchandise sold)
POST.REF.
Ultrabikes Enterprise
Unadjusted Journal for June 2015
(Record Purchasing of inventory on account)
26 Transportation in
Cash
( Record transportation in for MINICYCLE)
28 Sales Return
Cash
(Record return merchandise inventory from
customer)
DATE
DESCRIPTION
28 Merchandise Inventory
Cost Of Merchandise Sold
(Record sales return )
30 Utility Expenses
Salaries Expenses
Insurance Expenses
Cash
(Paid the bills)
POST.REF.
Ultrabikes Enterprise
Unadjusted Journal for June 2015
DEBIT (RM)
CREADIT (RM)
114,000
82,500
196,500
5,100
15,600
20,700
30,750
30,750
1,800
1,800
26,700
26,700
7,950
7,950
3,300
3,300
1,350
1,350
17,550
17,550
6,143
6,143
Ultrabikes Enterprise
Unadjusted Journal for June 2015
30,750
29,212.50
1,537.50
DEBIT (RM)
CREADIT (RM)
810
810
72,000
72,000
16,350
16,350
5,715
5,715
25,350
25,350
16,672.50
877.5
17,550
12,750
12,750
4,988
4,988
22,500
22,500
Ultrabikes Enterprise
Unadjusted Journal for June 2015
630
630
945
945
DEBIT (RM)
CREADIT (RM)
525
525
570
9,900
8,100
18,570
950
104
Salary Expenses
Salary Payable
( Record salary remained payable)
975
Prepaid Insurance
Insurance Expenses
(Record insurance that is effective from July)
8,100
Creadit(RM)
3,400
950
104
975
8,100
Date Particular
Jun-01 Capital
Jun-01 Capital
9 Sales
15 Long-term Loan
21 Account ReceivableSUPERCYCES SHOP
23 Sales
Dt(Rm)
Vehicle
114,000
Cash
82,500
7,950
72,000
16,673
12,750
191,873
Jun-01 Cash
Furniture
15600
Merchandise Inventory
Jun-03 Account PayableMINI CYCLE
5 Cash
8 Account PayableCYCE WAREHOUSE
26 Account PayableMINI CYCE
Cash
28 Cost Of Merchandise sold
30,750
1,800
26,700
22,500
630
525
82,905
Jun-11 Sales
18 Sales
Account Receivable
17,550
16,350
33,900
Account Payable
Jun-10 Merchandise Inventory
12 Merchandise Inventory
12 Cash
21 Cash
30 Balance
1,350
1,537.50
29,212.50
25,350
22,500
79,950
Jun-30 Balance
Bank Loan
72,000
Jun-30 Balance
Capital
196,500
196,500
Drawing
810
Jun-30 Balance
Sales
54,600
54,600
Jun-28 Cash
Sales Discounts
Jun-21 Account ReceivableBICYCLE WAREHOUSE
877.5
30 Cash
Utility Expenses
570
30 Cash
Salary Expenses
9,900
30 Cash
Insurance Expenses
8,100
Jun-01 Cash
Rent Expenses
5,100
Date Particular
Jun-30 Balance
Salaries Expenses
Insurance Expenses
Balance
Ct(Rm)
114,000
5,100
15,600
1,800
29,212.50
25,350
630
945
570
9,900
8,100
94,665
191,873
Jun-30 Balance
15600
3,300
1,350
6,143
810
1,537.50
5,715
4,988
59,061
82,905
Receivable
Jun-21 Cash
21 Sales Discount
30 Balance
16,672.50
877.5
16,350
33,900.00
30,750
26,700
22,500
79,950
Jun-15 Cash
72,000
Jun-01 Vehicles
Cash
114,000
82,500
196,500
Jun-30 Balance
810
chandise sold
Jun-28 Merchandise Inventory
30 Balance
525
19,621
20,146
Jun-09 Cash
11 Acc. ReceivableSUPERCYCLES SHOP
18 Acc. ReceivableHAPPY BIKE CENTRE
23
7,950
17,550
16,350
Cash
12,750
54,600
and Allowances
Jun-30 Balance
945
Jun-30 Balance
877.5
30 Balance
570
30 Balance
9,900
30 Balance
8,100
Jun-30 Balance
5,100
Rent Expenses
5,100
Jun-01 Cash
5,100
Prepaid Rent
3,400
3,400
1,700
5,100
Jun-30
3,400
Accumulated Depn-Furniture
Jun-30 Balance
104
104
104
104
Depreciation Expense-Furniture
Jun-30 Depreciation ExpensesFurniture
Jun-30 Balance
104
104
104
104
Accumulated Depn-Vehicles
Jun-30 Balance
950
950
950
950
Depreciation Expense-Vehicles
Jun-30 Depreciation ExpensesVehicles
Jun-30 Balance
950
950
950
Salary Expenses
950
Jun-30 Cash
Payable salary
9,900
975
Jun-30 Balance
10,875
Jun-30 Balance
Jun-30 Cash
Payable Salaries
975
10,875
Insurance Expenses
8,100
Jun-30 Prepaid Insurance
Prepaid Insurance
8,100
10,875
Jun-30 Balance
975
8,100
8,100
ULTRABIKES ENTREPRISE
Unadjusted Trial Balance
June 30, 2015
ACCOUNT
Vehicle
Cash
Furniture
Merchandising Inventory
Account Receivable
Account Payable
Long-term Liability
Fazura,Capital
Fazura,Drawing
Sales
Sales Discount
Sales Return
Cost of Merchandising
Rent Expenses
Utility Expenses
Salaries Expenses
Insurance Expenses
TOTAL
RM
RM
114,000
94,665
15,600
59,061
16,350
22,500
72,000
196,500
810
54,600
878
945
19,621
5,100
570
9,900
8,100
345,600
345,600
ULTRABIKES ENTREPRISE
Adjusted Trial Balance
June 30, 2015
ACCOUNT
Vehicle
Cash
Account Receivable
Merchandising Inventory
Furniture
Prepaid Insurance
Prepaid Rent
Account Payable
Payable Salary
Long-term Liability
Fazura,Capital
Fazura,Drawing
Sales
Sales Discount
Sales Return
Cost of Merchandising
Rent Expenses
Utility Expenses
Salaries Expenses
Vehicles Depreciation Expenses
Accumulated Depreciation-Vehicles
Furniture Depreciation Expenses
Accumulated Depreciation-Furniture
TOTAL
RM
RM
114,000
94,665
16,350
59,061
15,600
8,100
3,400
22,500
975
72,000
196,500
810
54,600
878
945
19,621
1,700
570
10,875
950
950
104
347,629
104
347,629
ULTRABIKES ENTERPRISE
Income Statement
June 30, 2015
RM
Sales Revenue
Add: Sales Return &Allowances
Sales Discount
Net Sales
Cost of Goods Sold
Income from operations
Expenses:
Depreciation Expense- Furniture
Depreciation Expense- Vehicles
Salaries Expense
Utility Expense
Rent Expense
Total Expense
Net Profit
RM
RM
54,600
945
878
1,823
52,777
19,621
33,156
104
950
10,875
570
1,700
14,199
18,957
ULTRABIKES ENTERPRISE
Statement of Owner's Equity
June 30, 2015
RM
RM
Fazura, capital, June 1, 2015
196,500
Net Income
18,957
Less drawings
810
Increase in owner's equity
18,147
Fazura, capital, June 30, 2015
214,647
ULTRABIKES ENTERPRISE
Balance Sheet
June 30, 2015
Assets
Current assets :
Cash
Accounts Receivable
Merchandise Inventory
Prepaid rent
Prepaid insurance
Total Current Assets
Property, plant, and equipment :
Vehicle
Less accumulated depreciation
Furniture
Less accumulated depreciation
Total property, plant, and equipment
Total assets
Liabilities
Current liabilities :
Accounts Payable
Salaries payable
Total Current Liabilities
Long-term liabilities :
Total liabilities
Owner's Equity
Fazura, capital
Total liabilities and owner's equity
ULTRABIKES ENTERPRISE
Balance Sheet
June 30, 2015
RM
RM
urrent assets :
Accounts Receivable
Merchandise Inventory
Prepaid rent
Prepaid insurance
Total Current Assets
roperty, plant, and equipment :
Vehicle
Less accumulated depreciation
Furniture
Less accumulated depreciation
Total property, plant, and equipment
urrent liabilities :
Accounts Payable
Salaries payable
Total Current Liabilities
ong-term liabilities :
otal liabilities
Owner's Equity
azura, capital
otal liabilities and owner's equity
94,665
16,350
59,061
3,400
8,100
114,000
950
15,600
104
113,050
15,496
22,500
975
RM
181,576
128,546
310,122
23,475
72,000
95,475
214,647
310,122
Solvency Measures
Current Ratio
Method of Computation
Current Assets
Current Liabilities
181,576
23,475
7.73
2
Profit Margin
Net income
Sales
18, 957
54,600
0.35
Return On Assets
Net income
Total assets
18,957
( 181,576 + 128,546 )
0.06
Return On Equity
Net income
Total Equity
18,957
214,647
0.09
Analysis
less sales.