Notes To account

1 Sales of the month are 95% of total fish available for that month.
The balance 5% of the total fish are brought forward to be sold in the next month

2 Production:
Each months productions will be added with opening inventory from the previous months. On that pa
On the month of November and December, expected that there will be flood and there is no seed we
Due to the flood, we incurred additional percentage of loss.
10% for the seed that has reached its maturity (5th and 6th month)
15% for the seed that almost reached its maturity (3rd and 4th month)
20% for the seed that is in early maturity (1st and 2nd month)

3 We assume that Shah's drawing onn his family expenditure is RM3,500 per months.

4 Cost of truck is RM150,000

5 Pellets was bought on 25th every months and received 30 days credit from the supplier of pellets.
Fish seeds was bought on the early month and being paid in the same months after 14 days.

6 Expense:
Access fee RM100 every month
Shah hired four workers that being paid RM1,200 per month
Petrol & Maintenance that related to the truck was RM150 per month.
The drums float were filled with carbide that need to be refilled every 3 months (4 times per year)

7 Assume that the increase of access fee amounted RM100 as a liability contingent.
previous months. On that particular months, only 95% of total fish are sold. The remaining 5% is being sold for the following month.
ood and there is no seed were added.

m the supplier of pellets.

onths after 14 days.

months (4 times per year)

d for the following month.
 SHAH'S PATIN FARM
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2017

NON-CURRENT ASSETS
Small Cage
Large Cage
Buoy/Drum Floats
Main Storage Facility
Smaller Storage Facility
Pick-up Truck

Total Non-current Assets

CURRENT ASSETS
Cash
Inventory
Biological asset
Total Current Assets

TOTAL ASSETS

CURRENT LIABILITIES
Trade payables
Total Current Liabilities

FINANCED BY:
EQUITY
Capital
(-) Drawings
Retained earnings/(Accumulated loss)
Total Equity

Total Liability and Equity

2017
RM

131,071.43
284,071.43
9,775.00
14,250.00
17,000.00
75,000.00

531,167.86

-
579,840

109,200

42,000
(515,181)
 SHAH'S PATIN FARM
INCOME STATEMENT
AS AT 30 JUNE 2017
2017
RM
SALES
Sales 844,953
(-) Return on Sales 59,147
Net Sales 785,806

COST OF SALES 1,118,793

GROSS LOSS (332,987)

EXPENSES
Access Fee 1,200
Carbide 2,720
Depreciation 118,874
Petrol and Maintenance 1,800
Wages 57,600
182,194
LOSS FOR THE YEAR (515,181)
 SHAH'S PATIN FARM
JOURNAL ENTRIES
FOR THE YEAR ENDED 30 JUNE 2017
NO DESCRIPTIONS DR (RM) CR (RM)
1 Property, Plant and Equipment 245,000.00
Cash 245,000.00
(Being purchased of fixed assets)

2 Depreciation Expense - Steel Frame - Small Cages 28,571.43

Depreciation Expense - Net - Small Cages 30,000.00
Depreciation Expense - Steel Frame - Large Cages 20,142.86
Depreciation Expense - Net - Large Cages 23,500.00
Depreciation Expense - Buoy/Drum Floats 3,910.00
Depreciation Expense - Main Storage Facility 750.00
Depreciation Expense - Smaller Storage Facility 2,000.00
Depreciation Expense - Pick-up Truck 10,000.00
Acc. Depreciation - Steel Frame - Small Cages 28,571.43
Acc. Depreciation - Net - Small Cages 30,000.00
Acc. Depreciation - Steel Frame - Large Cages 20,142.86
Acc. Depreciation - Net - Large Cages 23,500.00
Acc. Depreciation - Buoy/Drum Floats 3,910.00
Acc. Depreciation - Main Storage Facility 750.00
Acc. Depreciation - Smaller Storage Facility 2,000.00
Acc. Depreciation - Pick-up Truck 10,000.00
(Being depreciation of fixed assets)

3 Cash 844,952.85
Sales 844,952.85
(Being sales of ikan patin)

4 Return on Sales 59,146.70

Cash 59,146.70
(Being return on sales of ikan patin)

5 COGS - Fish Seeds 87,300.00

Cash 87,300.00
(Being expenses of fish seedings)

6 COGS - Pellets 1,031,493.13

Cash
Trade payables 1,031,493.13
(Being pellets expenses)

7 Access Fee 1,200.00

Cash 1,200.00
 (Being access fee expenses)

8 Maintenance And Petrol 1,800.00

Cash 1,800.00
(Being maintenance and petrol expenses)

9 Labor Cost 57,600.00

Cash 57,600.00
(Being labor cost expenses)

10 Carbide 2,720.00
Cash 2,720.00
(Being carbide expenses)
No Expenses Description Cost 1 year
RM
1 Access Fee RM 100 per month 1,200.00

2 Labor Cost 4 workers 57,600.00

Salary per month RM 1,200

3 Maintenance And Petrol RM 150 per month 1,800.00

4 Carbide Per drum RM 1 2,720.00

680 Drum floats
4 times per year
Refilled every 3 months

TOTAL EXPENSES 63,320.00

LEDGER FOR EACH OF EXPENSES

1 Access Fee

Dt- Access Fee 1,200.00

Kt- Cash 1,200.00

Cash
RM RM
Access Fee 1,200

Access Fee
RM RM
Cash 1,200

2 Labor Cost

Dt- Labor Cost 57,600.00

Kt- Cash 57,600.00

Labor Cost
RM RM
Cash 57,600
 Cash
RM RM
Labor cost 57,600

3 Maintenance And Petrol

Dt- Maintenance And Petrol 1,800.00

Kt- Cash 1,800.00

Maintenance And Petrol

RM RM
Cash 1,800

Cash
RM RM
Maintenance And Petrol 1,800

4 Carbide

Dt- Carbide 2,720.00

Kt- Cash 2,720.00

Carbide
RM RM
Cash 2,720

Cash
RM RM
Carbide 2,720
LEDGER FOR CASH

Dt- Expenses 63,320.00

Kt- Cash 63,320.00

Expenses
RM RM
Cash 63,320

Cash
RM RM
Expenses 63,320
 SHAH'S PATIN FARM
FIXED ASSET SCHEDULE
FOR THE YEAR ENDED 30 JUNE 2017
ASSET DATE COST
ACQUIRED OB ADD LESS CB
RM RM RM RM
Small Cages:
Steel Frame
Section 1 & 2 1/1/2011 100,000.00 - - 100,000.00
Section 3 & 4 7/1/2015 100,000.00 - - 100,000.00
Net
Section 1 & 2 1/1/2011 60,000.00 - - 60,000.00
Section 1 & 2 1/1/2015 60,000.00 - - 60,000.00
Section 3 & 4 7/1/2015 60,000.00 - - 60,000.00
Total

Large Cages:
Steel Frame
Section 5 & 6 7/1/2015 72,000.00 - - 72,000.00
Section 7-10 12/31/2016 - 138,000.00 - 138,000.00
Net
Section 5 & 6 7/1/2015 48,000.00 - - 48,000.00
Section 7-10 12/31/2016 - 92,000.00 - 92,000.00
Total

Buoy/Drum Floats 1/1/2016 15,640.00 - - 15,640.00

Main Storage Facility 1/1/2017 - 15,000.00 - 15,000.00

Smaller Storage Facility 1/1/2016 20,000.00 - - 20,000.00

Pick-up Truck 1/1/2010 150,000.00 - - 150,000.00

Total 245,000.00
N FARM
CHEDULE
D 30 JUNE 2017
ACC. DEPRECIATION NBV
OB ADD LESS CB RM
RM RM RM RM

78,571.43 14,285.71 - 92,857.14 7,142.86

14,285.71 14,285.71 - 28,571.43 71,428.57

- 60,000.00 - 60,000.00 -
22,500.00 15,000.00 - 37,500.00 22,500.00
15,000.00 15,000.00 - 30,000.00 30,000.00
131,071.43

10,285.71 10,285.71 - 20,571.43 51,428.57

- 9,857.14 - 9,857.14 128,142.86

12,000.00 12,000.00 - 24,000.00 24,000.00

- 11,500.00 - 11,500.00 80,500.00
284,071.43

1,955.00 3,910.00 - 5,865.00 9,775.00

- 750.00 - 750.00 14,250.00

1,000.00 2,000.00 - 3,000.00 17,000.00

65,000.00 10,000.00 - 75,000.00 75,000.00

531,167.86
Section
10
9
8 6000
7 6000
6
5
4
3
2 7500
1 7500
JAN FEB MAR APR MAY JUNE JUL

production 13,500
flood risk 0%
total loss -
net production 13,500
Opening Balance 1,675
15,175
Sales 14,416
Closing balance 1,675 759

Sales 14,416.25
(x) 0.7kg 0.70
TOTAL KG 10,091.38
80% 8,073.10
RM 10 80,731.00
20% 2,018.28
RM 14 28,255.85
total sales 108,986.85
 5000 5000
6000 6000
6000
6000
6000
6000
7500 7500
7500 7500
7500
7500
AUG SEPT OCT NOV DIS JAN FEB MAR
2016/2017

13,500 12,500 6,000 6,000 13,500 13,500 13,500 12,500

0% 0% 0% 10% 10% 15% 20% 20%
- - - 600 1,350 2,025 2,700 2,500
13,500 12,500 6,000 5,400 12,150 11,475 10,800 10,000
759 1,434 2,059 2,359 2,659 3,334 4,009 4,684
14,259 13,934 8,059 7,759 14,809 14,809 14,809 14,684
12,825 11,875 5,700 5,700 12,825 12,825 12,825 11,875
1,434 2,059 2,359 2,659 3,334 4,009 4,684 5,309

12,825.00 11,875.00 5,700.00 5,700.00 12,825.00 12,825.00 12,825.00 11,875.00

0.70 0.70 0.70 0.70 0.70 0.70 0.70 0.70
8,977.50 8,312.50 3,990.00 3,990.00 8,977.50 8,977.50 8,977.50 8,312.50
7,182.00 6,650.00 3,192.00 3,192.00 7,182.00 7,182.00 7,182.00 6,650.00
71,820.00 66,500.00 31,920.00 31,920.00 71,820.00 71,820.00 71,820.00 66,500.00
1,795.50 1,662.50 798.00 798.00 1,795.50 1,795.50 1,795.50 1,662.50
25,137.00 23,275.00 11,172.00 11,172.00 25,137.00 25,137.00 25,137.00 23,275.00
96,957.00 89,775.00 43,092.00 43,092.00 96,957.00 96,957.00 96,957.00 89,775.00
 6000
0
0

750
APR MAY JUNE

- - 6,000
0% 0% 0%
- - -
- - 6,000
5,309 2,709 109
5,309 2,709 6,109
2,600 2,600 5,700
2,709 109 409

2,600.00 2,600.00 5,700.00

0.70 0.70 0.70
1,820.00 1,820.00 3,990.00
1,456.00 1,456.00 3,192.00
14,560.00 14,560.00 31,920.00
364.00 364.00 798.00
5,096.00 5,096.00 11,172.00
19,656.00 19,656.00 43,092.00
844,952.85
 COST OF GOODS SOLD
LIFE CYCLE 1 Section SECTION 1 SECTION 2
quantity price total quantity price
Seeds 15,000 0.3 4,500 15,000 0.3
Pellet 1,200 65 78,000 1,200 65
Total 82,500
Cost Per unit 5.5

Section 1 2 3 4 5
Total unit 14,416.25 12,825.00 11,875.00 5,700.00 5,700.00
(X) Cost Per Unit 5.5 5.5 5.5 5.5 4.2
Total cost (RM) 79,289 70,538 65,313 31,350 23,940

LIFE CYCLE 2 Section SECTION 1 SECTION 2

quantity price total quantity price
Seeds 15,000 0.3 4,500 15,000 0.3
Pellet 1,200 65 78,000 1,200 65
Total 82,500
Cost Per unit 5.5

Section 1
Total unit 14,416.25
(X) Cost Per Unit 5.5
Total cost (RM) 79,289

LIFE CYCLE 3 Section SECTION 1 SECTION 2

quantity price total quantity price
Seeds 15,000 0.3 4,500 15,000 0.3
Pellet 1,200 65 78,000 1,200 65
Total 82,500
Cost Per unit 5.5

Section 1 2 3 4 5
Total unit 14,416.25 12,825.00 11,875.00 5,700.00 5,700.00
(X) Cost Per Unit 5.5 5.5 5.5 5.5 4.2
Total cost (RM) 79,289 70,538 65,313 31,350 23,940

LIFE CYCLE 4 Section SECTION 7 SECTION 8

quantity price total quantity price
Seeds 12,000 0.3 3,600 12,000 0.3
Pellet 720 65 46,800 720 65
Total 50,400
Cost Per unit 4.2

Section 7 8 9 10
Total unit 12,825.00 12,825.00 11,875.00 2,600.00
(X) Cost Per Unit 4.2 4.2 4.2 4.2
Total cost (RM) 53,865 53,865 49,875 10,920

TOTAL SEED USED (RM) 87,300 TOTAL COGS OVERALL

TOTAL PALLET USED (RM) 1,310,400 COGS SEED
COGS PALLET

COGS SEED PER CYCLE 1 2 3 4

SEC 1- SEC 4 18,000 4,500 18,000 0
SEC 5- SEC 10 10,800 0 21,600 14400
TOTAL 28,800 4,500 39,600 14,400
 SECTION 3 SECTION 4 SECTION 5
total quantity price total quantity price total quantity
4,500 15,000 0.3 4,500 15,000 0.3 4,500 12000
78,000 1,200 65 78,000 1,200 65 78,000 720
82,500 82,500 82,500
5.5 5.5 5.5

6 7
12,825.00 12,825.00
4.2 4.2
53,865 53,865 TOTAL COGS LC 1 378,159

SECTION 3 SECTION 4 SECTION 5

total quantity price total quantity price total quantity
4,500 15,000 0.3 4,500 15,000 0.3 4,500 12000
78,000 1,200 65 78,000 1,200 65 78,000 720
82,500 82,500 82,500
5.5 5.5 5.5

TOTAL COGS LC 2 79,289

SECTION 3 SECTION 4 SECTION 5

total quantity price total quantity price total quantity
4,500 15,000 0.3 4,500 15,000 0.3 4,500 12,000
78,000 1,200 65 78,000 1,200 65 78,000 720
82,500 82,500 82,500
5.5 5.5 5.5

6 7 8 9 10
12,825.00 12,825.00 12,825.00 11,875.00 2,600.00 2,600.00 5,700.00
4.2 4.2 4.2 4.2 4.2
53,865 53,865 53,865 49,875 10,920 TOTAL COGS LC 3

SECTION 9 SECTION 10
total quantity price total quantity price total
3,600 12,000 0.3 3,600 12,000 0.3 3,600
46,800 720 65 46,800 720 65 46,800
 50,400 50,400 50,400
4.2 4.2 4.2

TOTAL COGS LC 4

1,118,793 TRADE PAYABLE PALLET 109,200.00

87,300
1,031,493
 SECTION6 SECTION 7 SECTION 8
price total quantity price total quantity price total quantity
0.3 3600 12000 0.3 3600 12000 0.3 3600 12000
65 46800 720 65 46800 720 65 46800 720
50400 50400 50400
4.2 4.2 4.2

SECTION6 SECTION 7 SECTION 8

price total quantity price total quantity price total quantity
0.3 3600 12000 0.3 3600 12000 0.3 3600 12000
65 46800 720 65 46800 720 65 46800 720
50400 50400 50400
4.2 4.2 4.2

SECTION6 SECTION 7 SECTION 8

price total quantity price total quantity price total quantity
0.3 3,600 12,000 0.3 3,600 12,000 0.3 3,600 12,000
65 46,800 720 65 46,800 720 65 46,800 720
50,400 50,400 50,400
4.2 4.2 4.2

492,819
168,525
 SECTION 9 SECTION 10
price total quantity price total quantity price total
0.3 3600 12000 0.3 3600 12000 0.3 3600
65 46800 720 65 46800 720 65 46800
50400 50400 50400
4.2 4.2 4.2

SECTION 9 SECTION 10
price total quantity price total quantity price total
0.3 3600 12000 0.3 3600 12000 0.3 3600
65 46800 720 65 46800 720 65 46800
50400 50400 50400
4.2 4.2 4.2

SECTION 9 SECTION 10
price total quantity price total quantity price total
0.3 3,600 12,000 0.3 3,600 12,000 0.3 3,600
65 46,800 720 65 46,800 720 65 46,800
50,400 50,400 50,400
4.2 4.2 4.2
COST OF GOODS SOLD
Jul-16 Aug-16
Section SECTION 1 SECTION 2
quantity price total quantity price total
Seeds 15000 0.3 4500 15000 0.3 4500
Pellet 1200 65 78000 1200 65 78000
Total 82500 82500
Cost Per unit 5.5 5.5

Jan-16 Feb-16
Section SECTION 1 SECTION 2
quantity price total quantity price total
Seeds 15000 0.3 4500 15000 0.3 4500
Pellet 1200 65 78000 1200 65 78000
Total 82500 82500
Cost Per unit 5.5 5.5

Jan-17 Feb-17
Section SECTION 1 SECTION 2
quantity price total quantity price total
Seeds 15000 0.3 4500 15000 0.3 4500
Pellet 1200 65 78000 1200 65 78000
Total 82500 82500
Cost Per unit 5.5 5.5

Jan-16 Feb-16
Section SECTION 7 SECTION 8
quantity price total quantity price total
Seeds 12000 0.3 3600 12000 0.3 3600
Pellet 720 65 46800 720 65 46800
Total 50400 50400
Cost Per unit 4.2 4.2

JUL AUG SEPT OCT NOV

production 13,500.00 13,500.00 12,500.00 6,000.00 6,000.00
flood risk - - - - 0.10
total loss - - - - 600.00
net production 13,500.00 13,500.00 12,500.00 6,000.00 5,400.00
Opening Balance 1,675.00 2,350.00 3,025.00 3,650.00 3,950.00
Sales 12,825.00 12,825.00 11,875.00 5,700.00 5,700.00
Closing balance 1,675.00 2,350.00 3,025.00 3,650.00 3,950.00 4,250.00

cost 5.50 5.50 5.50 5.50 4.20

opening balance
 Sep-16 Oct-16 Nov-16
SECTION 3 SECTION 4 SECTION 5
quantity price total quantity price total quantity price total
15000 0.3 4500 15000 0.3 4500 - - -
1200 65 78000 1200 65 78000 - - -
82500 82500 -
5.5 5.5 -

MAC-2016 Apr-16 May-16

SECTION 3 SECTION 4 SECTION 5
quantity price total quantity price total quantity price total
15000 0.3 4500 15000 0.3 4500 12000 0.3 3600
1200 65 78000 1200 65 78000 720 65 46800
82500 82500 50400
5.5 5.5 4.2

MAC-2017 Apr-17 May-17

SECTION 3 SECTION 4 SECTION 5
quantity price total quantity price total quantity price total
15000 0.3 4500 15000 0.3 4500 12000 0.3 3600
1200 65 78000 1200 65 78000 720 65 46800
82500 82500 50400
5.5 5.5 4.2

Mar-16 Apr-16
SECTION 9 SECTION 10
quantity price total quantity price total
12000 0.3 3600 12000 0.3 3600
720 65 46800 720 65 46800
50400 50400
4.2 4.2

DIS JAN FEB MAR APR MAY JUNE

13,500.00 13,500.00 13,500.00 12,500.00 - - 6,000.00
0.10 0.15 0.20 0.20 - - -
1,350.00 2,025.00 2,700.00 2,500.00 - - -
12,150.00 11,475.00 10,800.00 10,000.00 - - 6,000.00
4,250.00 4,925.00 5,600.00 6,275.00 6,900.00 4,300.00 1,700.00
12,825.00 12,825.00 12,825.00 11,875.00 2,600.00 2,600.00 5,700.00
4,925.00 5,600.00 6,275.00 6,900.00 4,300.00 1,700.00 2,000.00

4.20 4.20 4.20 4.20 4.20 4.20 4.20

DIS-2016 Jan-17 Feb-17 Mar-17
SECTION6 SECTION 7 SECTION 8 SECTION 9
quantity price total quantity price total quantity price total quantity
- - - 12000 0.3 3600 12000 0.3 3600 12000
- - - 720 65 46800 720 65 46800 720
- 50400 50400
- 4.2 4.2

Jun-16 Jul-16 Aug-16 Sep-17

SECTION 6 SECTION 7 SECTION 8 SECTION 9
quantity price total quantity price total quantity price total quantity
12000 0.3 3600 12000 0.3 3600 12000 0.3 3600 12000
720 65 46800 720 65 46800 720 65 46800 720
50400 50400 50400
4.2 4.2 4.2

Jun-17 Jul-17 Aug-17 Sep-17

SECTION 6 SECTION 7 SECTION 8 SECTION 9
quantity price total quantity price total quantity price total quantity
12000 0.3 3600 12000 0.3 3600 12000 0.3 3600 12000
720 65 46800 720 65 46800 720 65 46800 720
50400 50400 50400
4.2 4.2 4.2
 Apr-17
SECTION 9 SECTION 10
price total quantity price total
0.3 3600 12000 0.3 3600
65 46800 720 65 46800
50400 50400
4.2 4.2

Oct-17
SECTION 9 SECTION 10
price total quantity price total
0.3 3600 12000 0.3 3600
65 46800 720 65 46800
50400 50400
4.2 4.2

Oct-17
SECTION 9 SECTION 10
price total quantity price total
0.3 3600 12000 0.3 3600
65 46800 720 65 46800
50400 50400
4.2 4.2
TOTAL NUMBER OF SEEDS
Section Seeds Num of cages Survival rates Total
2 1,500 10 0.55 8,250
3 1,500 10 0.60 9,000
4 1,500 10 0.65 9,750
5 2,000 6 0.70 8,400
6 2,000 6 0.80 9,600
7 -
8 2,000 6 0.55 6,600
9 2,000 6 0.60 7,200
10 2,000 6 0.65 7,800
TOTAL NUM OF SEEDS 66,600

TOTAL PELLET USED

Section Quantity Month Price Total
2 1200 0.8333 65 65,000
3 1200 0.6667 65 52,000
4 1200 0.5000 65 39,000
5 720 0.3333 65 15,600
6 720 0.1667 65 7,800
7 - - 65 -
8 720 0.8333 65 39,000
9 720 0.6667 65 31,200
10 720 0.5000 65 23,400
273,000

TOTAL LABOUR COST

Months Salary num. of workenum. of section TOTAL
February 1200 4 1/5 960
March 1200 4 2/5 1,920
April 1200 4 3/5 2,880
May 1200 4 5/7 3,360
June 1200 4 4/5 3,840
12,960

BIOLOGICAL ASSET

No of seeds 66,600
Fair Value 13
865,800
(-) Cost to sell
Pellet 273,000
Labour Cost 12,960
TOTAL 579,840
SHAH'S PATIN FARM
GENERAL LEDGER

Cash
RM RM
Balance b/f 650,000.00 Property, Plant and Equipment 245,000.00
Sales 844,952.85 Return on sales 59,146.70
COGS - Fish Seeds 87,300.00
COGS - Pellets 1,031,493.13
Access fee 1,200.00
Carbide 2,720.00
Petrol and maintenance 1,800.00
Labor Cost 57,600.00
Balance c/f 8,693.03
1,494,952.85 1,494,952.85