TABLE OF CONTENT

ATTACHMENT 1 ANSWERS........................................................................................ 2
QUESTION 1 ANSWER............................................................................................ 2
QUESTION 2 ANSWER............................................................................................ 3
QUESTION 3 ANSWER............................................................................................ 4
ATTACHMENT 2 ANSWERS........................................................................................ 5
DOCUMENT 1: PURCHASE ORDER..........................................................................5
DOCUMENT 2: DELIVERY ORDER...........................................................................6
DOCUMENT 3: INVOICE......................................................................................... 7
DOCUMENT 4: BANK IN RECEIPT............................................................................8
DOCUMENT 5: DEBIT NOTE.................................................................................... 9
DOCUMENT 6: CREDIT NOTE................................................................................ 10
DOCUMENT 7: PAYMENT VOUCHER......................................................................11
DOCUMENT 8: OFFICIAL RECEIPT.........................................................................12
DOCUMENT 9:DEPOSIT SLIP................................................................................. 13
DOCUMENT 10: CHEQUE...................................................................................... 14
REFERENCE........................................................................................................... 15

ATTACHMENT 1 ANSWERS

QUESTION 1 ANSWER
a)

Loan from Maybank

Liabilities

b)

We owe a supplier

Liabilities

c)

Equipment

d)

Bank overdraft

e)

Inventory of goods held for sale

Assets

f)

Loan to Mr. Frank Woods

Assets

g)

Motor vehicles

Assets

h)

Premises

Assets

i)

Acoount payable for inventory

j)

Inventory

Assets

k)

Account receivable

Assets

l)

Owing to bank

Liabilities

m)

Loan from Mr Dee Jones

Liabilities

n)

Machinery

Assets
Liabilities

Liabilities

Assets

QUESTION 2 ANSWER

Assets

Transactions

Effect Upon
Liabilities

Owners
Equity

a We pay a creditor RM 310 by cheque

b Bought fixtures RM 175 paying in

cash

c Bought goods on credit RM 630

d The proprietor introduces another

RM 1200 cash into the business
e Mrs. Jay Walker lends the business

Bank

Account

(-RM 310)

payable

Cash

(+ RM 310)
No Effect

(-RM 175)

No Effect

Fixtures
(+RM 175)

Goods

Purchases

(+ RM 630)

(- RM 630)

Cash

No Effect

(- RM 1200)

No Effect

Capital
(+ RM 1200)

Cash

Mrs. Jay

RM 2500 in cash

(+ RM 2500)

Walker

A debtor pays us RM 50 in cash

Cash

(- RM 2500)
Account

(+ RM 50)

receivable

No Effect

(- RM 50)
Account

Return

payable

inwards

(- RM 90)
No Effect

( + RM 90)
Office

g We return goods costing RM 90 to

supplier whose bill we had not paid
h Bought an office computer paying
RM 610 by cheque

Bank
(- RM 610)

No Effect

No Effect

computer
(+ RM 610)

QUESTION 3 ANSWER

Date
Asset
September Cash
1
24,000
8
15
16
17
18
25
28

-3500
+20100
-3000

Equipment
102,000

Motor
vehicle
14000

Account
receivable

Liabilities
Account payable

expenses

revenue

Drawings

140,000

12500

12500

+5000

+ 2400
+2000

-3500
17700

-2775
+200

Owners Equity
capital

+2000

2775
-200
-1600

+400

37800

ATTACHMENT 2 ANSWERS
DOCUMENT 1: PURCHASE ORDER

1. Purpose of this document.

Purchase orders are documents sent from a buyer to a supplier with a request for an
order. The type of item, the quantity and agreed upon price are generally printed on the
purchase order the more specific the order, the more details included, the more
effective the purchase order will be. (Wikipedia)
2. The importance of this document.
A purchase order is used as a reference for business if a buyer receives their order and
it does not comply with the desired specifications. A purchase order provides legal
clarity and concrete instructions for the seller, as well as a concretepaper trail that can
be used as a point of reference for when things go wrong. (Wikipedia)
3. Example of transaction in this document.
The business paid USD 14595 to Jabba Green Computing for electronic devices

4. Double entry record.

Debit: Electronic Devices
Credit: Bank

14595
14595

DOCUMENT 2: DELIVERY ORDER

1. Purpose of this document.

A delivery order is a document that ensures the items are being delivered in the same
quality and quantity as you would purchase the items right from the store. Simply said,
a delivery orders confirms that you receive the right amount of things you
send/receive. (Ezine Articles)
2. The importance of this document.
To ensure the quantities and qualities of the items that are ordered from the seller or
sent to other party is exactly the same when purchased. If the items received is not at
the same amount when purchased, the delivery order can be used as reference.
3. Example of transaction in this document.
Xin Cube Inc. sent 100 units of smartphone casings to Stanley

4. Double entry record.

Debit: Stanley
100
Credit: Xin Cube Inc.

100

DOCUMENT 3: INVOICE

1. Purpose of this document.

It is an commercial document issued by a seller to a buyer, indicating the products,
quantities, and agreed prices for products or services the seller has provided the buyer.
An invoice indicates the sale transaction only. This mean an invoice is a bill by a seller
to a buyer to indicate the buyer to pay for the products or the services that provided by
the seller. (Invoice Software, 2014)
2. The importance of this document.
The information that are recorded in the invoice such as product detail, service
information, seller information, contact information, etc. Can be used as an proof of
payment and also represent the company or a business image. (Invoice Software,
2014)
3. Example of transaction in this document.
Xin Cube Inc. have recorded a total of 21 units of electronic devices with a total of
USD 9933.00 paid from Synex Inc.

4. Double entry record.

Debit: Xin Cube Inc.
Credit: Synex Inc.

9933.00
9933.00

DOCUMENT 4: BANK IN RECEIPT

1. Purpose of this document.

A bank receipt contains detailed information about a financial transaction conducted at
a bank. Generally includes the amount of the transaction, the date it occurred, and the
employee number of the bank employee who conducted the transaction. Aside from
transactions involving deposit accounts, bank receipts are also given to customers who
make loan payments, credit card payments, and conduct other similar types of
transactions. Banks provide account holders with a copy of the bank receipt and the
bank also maintains its own records of all transactions. (WiseGeek)
2. The importance of this document.
To avoid disputes relating to the details of transactions. Immediately after taking
possession of the bank receipt, the account holder has the opportunity to dispute any
information that is incorrectly recorded on the receipt. If an error occurs after an
account holder leaves the bank and funds are deposited into the wrong account, the
customer can use the bank receipt as a means of having the transaction corrected and
funds deposited into the correct account. (WiseGeek)
3. Example of transaction in this document.
Rahmah deposited RM 50 into lazada bank account to purchase a handbag. She
received a bank in receipt as a proof of her transaction.
4. Double entry record.
Debit: Lazada
Credit:

50
50

DOCUMENT 5: DEBIT NOTE

1. Purpose of this document.

Debit note is used to inform the buyer that his or her account has been debited with
stated amount. This document is used when a sales price is understated.
2. The importance of this document.
A seller might issue a debit note instead of an invoice in order to adjust upwards the
amount of an invoice already issued (as if the invoice is recorded in wrong value).
3. Example of transaction in this document.
AA Textile have been informed that their account have been debited with RS 4000.00
into their account.
4. Double entry record.
Debit: AA Textile
Credit:

4000
4000

DOCUMENT 6: CREDIT NOTE

1. Purpose of this document.

A statement that notifies the buyer that a certain amount of money has been credited to
the buyer's account.
2. The importance of this document.
A credit note is issued in various situations to correct a mistake, such as when an
invoice amount is overstated, correct discount rate is not applied, goods spoil within
guaranty period, or they do not meet the buyer's specifications and are returned. Also
called credit memo. (Business Dictionary)
3. Example of transaction in this document.
Xin Cube Inc. have sent credit notes to Gary Butler stating that a total of USD 16800
from returned goods have been credited due to damages.
4. Double entry record.
Debit: Gary Butler 16800
Credit: Xin Cube Inc.

16800
10

DOCUMENT 7: PAYMENT VOUCHER

42342
670

5 January 2015

RM
Ahmad Hamid Abdullah Kareem
RM 670
The Purchase of three chairs
Ahmad Hamid Abdullah
Kareem
Najib Razak

1. Purpose of this document.

A document which can be used as proof that a monetary transaction has occurred
between two parties. In business, a payment voucher can be used for a variety of
purposes, sometimes taking the place of cash in a transaction, acting as a receipt, or
indicating that an invoice has been approved for payment (Business Dictionary).
2. The importance of this document.
The payment voucher is the final proof of payment and must be in the file to provide
information in case of any future question.
3. Example of transaction in this document.
Ahmad Hamid Abdullah Kareem received payment voucher from Najib Razak from
the purchase of three chairs.
4. Double entry record.
Debit: Ahmad Hamid Abdullah Kareem
Credit: Najib Razak

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670
670

DOCUMENT 8: OFFICIAL RECEIPT

1. Purpose of this document.

Official receipts are hard copies of financial transactions used by businesses for tax
and accounting purposes. These documents include the vendor's name, goods sold,
purchase price, the date, receipt number and other pertinent information. Official
receipts may be printed or handwritten as long as all information is included
(reference.com)
2. The importance of this document.
the importance of official receipts are such as a proof of completeness of accounting
records. Next, as a claim as deduction of refunds, minimizes audit and as a hard
evidence to support the existence of the transaction recorded.
3. Example of transaction in this document.
Tan Ah Meng have recieved a payment receipt from Testing Company after the
company bought stationery from him.
4. Double entry record.
Debit: Tan Ah Meng
10.60
Credit: Testing Company
10.60

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DOCUMENT 9:DEPOSIT SLIP

1. Purpose of this document.

when money is deposited into an account, the the depositor will receive a deposit slip
to keep track of the money that have been inserted into the account.
2. The importance of this document.
The information that are recorded on the deposit slip is important as it will be the
proof that the money that have been deposited is yours.
3. Example of transaction in this document.
Peter Parker deposited a total cash of RM 550.00 to the Cross Word Youth Camp bank
account.
4. Double entry record.
Debit: Cross Word Youth Camp
Credit: Peter Parker

DOCUMENT 10: CHEQUE

13

550
550

1. Purpose of this document.

Used to withdraw cash cash from the bank deposit account.
2. Importance of this document.
Makes the money transaction between two party or more easier.
3. Example of transaction in this document.
Nur Ashikin Binti Rasid will recieved a total cash of RM 10,000 from the cheque.
4. Double entry record.
Debit: Nur Ashikin Binti Rasid
Credit: Bank

REFERENCE

14

10,000
10,000

Business Dictionary. (n.d.). Retrieved June 28, 2016, from Credit Note:
http://www.businessdictionary.com/definition/credit-note.html
Business Dictionary. (n.d.). Retrieved June 28, 2016, from Voucher:
http://www.businessdictionary.com/definition/payment-voucher.html
Ezine Articles. (n.d.). Retrieved June 27, 2016, from delivery Order: http://ezinearticles.com/?
Delivery-Order---What-Exactly-is-a-Delivery-Order,-and-What-is-Its-Purpose?&id=4689764
Invoice Software. (2014, January). Retrieved June 27, 2016, from Invoice:
http://www.invoice-software.us/p/invoice.html
reference.com. (n.d.). Retrieved June 29, 2016, from What is the definition of offcial receipt:
https://www.reference.com/business-finance/definition-official-receipt-a7f98fb8de5c55bb#
Wikipedia. (n.d.). Retrieved june 27, 2016, from Purchase Order:
https://en.wikipedia.org/wiki/Purchase_order#cite_note-1
WiseGeek. (n.d.). Retrieved June 27, 2016, from What is a Bank Receipt:
http://www.wisegeek.com/what-is-a-bank-receipt.htm

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