FIN2254 - Retail Business Financial Accounting - SEGi University

Assignment Task

Question

1. Mr Ibrahim Kamal owns a retail business, ACC Enterprise in Bukit Jelutong. The transactions during May are as follows:

May

1. Borrowed RM50,000 from SME Bank.

2. Paid rent of RM2,500 by cheque to Dayang Properties

3. Paid cleaners’ wages of RM150 in cash to Jannah Cleaning Services   Sdn. Bhd.

4. Purchased goods worth RM15,000 from Kamil Company. The goods were paid in cheque    

5. RM5,000 and the balance will be paid on credit

6. Mr Ibrahim brought his laptop worth of RM3,000 into the business.

7. Sold goods for RM1,880 cash.

8. Returned goods worth of RM3010 to Kamil Company due to wrong colour

9. Drawings in cash RM500 for his personal use

10. Paid advertising expenses to Masniza Shop of RM325 in cash

11. Received commissions from Lily Mazilena Enterprise, RM500 cash.

12. Bought equipment of RM3,500 from Syeliya Sdn Bhd by online banking

13. Sold goods on credit for RM1,250 to Haslina & Co

14. Bought stationery of RM75 in cash from Reza Bookshop

15. Paid utilities bills of RM630 through an online bank

16. Haslina & Co returned goods with an invoice value of RM390

17. Sent a cheque for RM3000 to Kamil Company

18. Received a cheque of RM600 from Haslina & Co

You have started a business of your own. You are requiring an additional capital for your business, thus you need to prepare a report that you are about to present to your potential investor.

Choose any type of organization. The contain of your report must be contain the following information:

• Discuss in brief the background of the organization including its mission, vision, and objective of the organization, organizational chart and etc. You also need to explain the category of the product/ services that you offered (must include the picture)
• Assume that the business is already operated for 2-month period. Elaborate its beginning capital, assets (non- current and current) and liabilities (non- current and current) as well as its equities and justify its value as well. You also need to list out all the expenses involve during your two month of operation. All the item that you created must not less than 40 items. The item also need to be relevant to the business category that you explain in (a) and the value must be reflect to the real market value. Show to the investor the profit you able to make for the two month of operation.
• You are searching for the company CEO to handle your company. You want to include this information in your report assuming that the investors would like to know about the potential CEO that you are about to hire. Include in the report, what do you expect the required background and experience of the CEO? How it is so important for the CEO to have accounting and finance background? Justify your answer from any relevant resources such as empirical evidence, news and etc.

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