GROUP ASSIGNMENT
-------GROUP 4
YOU BEAUTY CENTRE
1.
2.
3.
4.
5.
TABLE OF CONTENTS
INTRODUCTION..PG 3-5
ORGANIZATIONAL STRUCTURE..PG 6
TRANSACTIONS.........PG 7-8
ADJUSTING TRANSACTIONS.......PG 9
TRIAL BALANCE......PG 10
STATEMENT
STATEMENT OF COMPREHENSIVE INCOME..PG 11
STATEMENT OF CHANGE IN OWNERS EQUITYPG 12
STATEMENT OF FINANCIAL POSITION.PG 13
FEEDBACK........PG 14
INTRODUCTION
An ownership company provides the facial service
Located at Mid Valley Mega Mall, F-081, 1 st floor,
South Court, 59200 Kuala Lumpur
INTRODUCTION (CONT.)
Launch on 1st July 2016
Business hour : 10a.m. 10p.m.
Vision :
The ultimate in customer care
Mission :
Ensure our clients always valued individuals who
are respected and treated in a consistent and
professional manner at all time in friendly environment
Goal :
To prove the reality of age defiance and spread the
exhilarating feeling of renew youth.
INTRODUCTION (CONT.)
Target market : the people who care their face
Slogan : Threat Yourself Beautiful
good environment
Gives you a convenient way to rejuvenate your skin
while shopping
Gets 35% discount in customers birthday month
Provide the good customers service
Personal one-on-one consultation
Advance in-depth skin analysis
Effective treatment session
Guaranteed visible results
OUR SUPPLIES
OUR EQUIPMENT
MICROERMABRASION
ORGANIZATIONAL STRUCTURE
Boss
Er Shi Lian
Administrative Staff
Cashier
Loh Jia Wen
Esthetician
Gui Qiu
Rong
Cashier
Ammar Fakhruddin
Bin Anuar Shukri
8
TRANSACTION
We started our beauty centre called You Beauty Centre commences on 1 July 2016.
During the first month operation of her business, the following events and transactions
occurred.
July 1 Invested RM 50,000 cash in business.
1 Hired a full time esthetician at a salary of RM 2,500 per month.
1 Hired a cashier at a salary of RM1,000 per month.
2 Paid centre rent for the month RM 1,000 in cash.
4 Billed advertising expense RM300.
Purchased centre supplies on account from Bella company
5 RM2,000.
6 Purchased centre equipment costing RM 6,000. A cash payment of RM
2,500 was made immediately; the remainder will be paid in the same
montly.
Paid RM 1,200 cash for a one-year insurance policy that will expire next
8 year on August 2017.
10 Performed beauty services to customers for cash RM 2,000.
TRANSACTION (CONT.)
12
12
13
Joanne order a supplies but not receive any cash or payment yet.
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15
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28
30
10
ADJUSTING TRANSACTIONS
Jul-31 Insurance expense is incurred but not record on 1 July 2016.
31 Depreciation is RM1000 on the equipemnt.
31 The note interest is 12%
31 One-thirds of the unearned service revenue has been earned
31 Accurued salaries payable RM350
Invoices representing RM1500 of service performed during the month
31 have not been recorded as July 31, 2016.
31 RM350 of supplies have been used during the month.
31 Utilities expense iccured but no paid on July 31, 2016, RM200.
31 Service provided but unrecorded for July totally RM450.
31 Supplies on hand total RM1000.
11
TRIAL BALANCE
You Beauty Centre
Trial Balance (After Adjusting)
As at July 31, 2016
Dr (RM)
Cash
Supplies
Equipment
Prepaid Insurance
Account receivable
Account payable
Note payable
Unearned service revenue
Owner's capital
Owner's drawing
Service revenue
Sales revenue
Rent expense
Maintenance expense
Utility expense
Advertising expense
Supplies expense
Insurance expense
Depreciation expense equipment
Accumulated depreciation equipment
Interest expense
Interest payable
Salaries and wages expense
Salaries and wages payable
Utilities payable
Cr (RM)
46,550
1,000
6,000
1,100
2,000
3,800
800
2,000
50,000
5,000
8,050
500
1,000
500
500
600
1,000
100
1,000
1,000
8
8
350
350
200
66,708
66,708
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STATEMENT OF COMPREHENSIVE
INCOME
You Beauty Centre
Statement of Comprehensive Income
As at July 31, 2016
Revenue:
Service Revenue
Sales Revenue
RM
RM
8050
500
8550
(-)Expense:
Rent expense
1000
Maintenance expense
500
Utility expense
500
Advertising expense
600
Supplies expense
1000
Insurance expense
100
1000
8
350
13
5058
RM
50000
3492
53492
5000
48492
14
STATEMENT OF You
FINANCIAL
POSITION
Beauty Centre
Statement of Financial Position
As at July 31, 2016
Assets
RM
RM
Cash
46,550
Supplies
1,000
Equipment
6,000
1,000
5000
Prepaid Insurance
1,100
Account receivable
2,000
55650
Total Assets
Liabilities & Owner's Equity
Liabilities
Account payable
Note payable
Unearned service revenue
Interest payable
Salaries and wages payable
3800
800
2000
8
350
15
FEEDBACK
1)
We cooperate with each other and solve the problem together. We unity
to accomplish the assignment. I feel very fun and grate to work with
them. We also take care of each other procedure. ----By Qiu Rong
2)
3)
4)
Improve the equipment and add more beauty products in centre to get
more profits. By Ammar Fakhruddin
5)
I felt very happy because first time cooperate with Ammar, Qiu Rong,
Taffany and Jia Wen. We work in a teamwork and process this
assignment in a good communication. By Shi Lian
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