c) Prepare a schedule of lease receipts and the journal entries for Lessor Ltd regarding the lease…

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) Explain why the lease should be classified as a finance lease by both Lessor Ltd and
ChiHerbal Ltd.
b) Prepare a schedule of lease payments and the journal entries for ChiHerbal Ltd
regarding the lease over the lease term.
c) Prepare a schedule of lease receipts and the journal entries for Lessor Ltd regarding the
lease over the lease term.
d) Prepare an appropriate note to the financial statements for both Lessor Ltd and
ChiHerbal Ltd as at 30 June 2016.

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#065

The special journal for cash receipts relates to the following transactions:Sel

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The special journal for cash receipts relates to the following transactions:Select one:a. Cash sales & Credit salesb. Receipts from debtors & Credit salesc. Cash sales & Receipts from debtorsd. Cash sales & Cash purchasesIn preparing a bank reconciliation statement for a business with a substantial bank balance, the appropriate treatment for monthly service charge appearing on the bank statement, $45, is to:Select one:a. add it to the balance as per bank statementb. deduct it from the balance as per bank statementc. add it to the balance per company recordsd. deduct it from the balance per company recordsWhich of the following statement is NOT true about an internal control system?Select one:a. It encourages compliance with lawsb. It helps management in safeguarding physical assetsc. It provides absolute assuranced. It can increase the reliability of financial reportingOn 1 January 2011, Y Ltd purchased a new machine for $500 000. The estimated scrap value of the machine is $20 000. The machine is depreciated straight -line over its useful life of 6 years.  On 31 December 2012, Y Ltd sold the machine for $400 000 to a director of the company. The gain or loss on sale is:Select one:a. Gain on sale $60 000b. Loss on sale $100 000c. Loss on sale $80 000d. There is no gain or loss

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#065

How does this policy help the restaurant control cash receipts? Do you think there is a more…

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How does this policy help the restaurant control cash receipts? Do you think there is a more efficient way to control cash receipts? Explain.
Read the article Protect Small Business, and consider this scenario:
Some restaurants use customer checks with pre-numbered sequence codes. Each food server uses these checks to write up customer orders. Food servers are told not to destroy any customer checks; if a mistake is made, they are to void that check and write a new one. All voided checks are to be turned in to the manager daily. How does this policy help the restaurant control cash receipts? Do you think there is a more efficient way to control cash receipts? Explain.
Use Scholarly sources
Topic: How does this policy help the restaurant control cash receipts? Do you think there is a more efficient way to control cash receipts? Explain.

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#075

Calculate the projected Cash Receipts for the three months of February, March, and April (Tables…

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Calculate the projected Cash Receipts for the three months of February, March, and April (Tables have been set up for you)
Assignments:
Your paper must be submitted as a Microsoft Word .doc document. If you are using Microsoft 2007 software you must save (“save as”) your work in an earlier version of Word to ensure you turn in the .doc format. Try this early to make sure you are able to save your work as a .doc file. Questions? Use the “Help Desk Forum”.
Week Four Case #2: (Show ALL work)
Cash flow exercise
Joseph Pharmacy had sales of $25,000 in December and $30,000 in January. The company expects sales of $20,000 in February and $40,000 in both March and April, and $30,000 in May. The company has no other source of cash inflows. Half of the sales are paid for with cash. Twenty-five percent are paid for in each of the two months following the sale.
Joseph Pharmacy has the following expenses: (show all of your work)
Monthly rent of $1,500
Wages of $5,000 each month
Purchases
o 50% of next month’s sales
o Cash Outlay
20% in month purchased
80% in following month
From the information provided:
Calculate the projected Cash Receipts for the three months of February, March, and April (Tables have been set up for you)
Sales forecast December January February March April
Cash Sales
Collection of AR:
Lagged 1 Month
Lagged 2 Months
Other Cash Receipts
Total Cash Receipts
Calculate the projected Cash Disbursements for the same months
A Schedule of Projected Cash Disbursements for Joseph Pharmacy
Sales December
January
February
March
April
Purchases
(50% of last month’s sales)
Rent payments
Wages/Salaries
Total
Indicate what the total cash balance would be at the end of these three months if the cash balance at the beginning of February was $1,500.
February Cash balance
Total Cash Receipts December
January
February
March
April
Cash Disbursements
Balance
Balance from Feb – April
Define cash inflows and cash outflows
If I have a budget where expected gross receipts are what is obtained in #1 and my expected cash disbursements are what is obtained in #2. What can you tell me about the cash balance (obtained in #3) if you were doing a variance analysis?
What is a cash budget, a flexible budget, CAPEX, and OPEX?
How often do you use some form of budgeting? Why?
If the business world is allowed to explain away their variances to budget, why is budgeting so important?
Topic: Calculate the projected Cash Receipts for the three months of February, March, and April (Tables have been set up for you)

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#075

to which each of the following receipts would be assessable income,

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to which each of the following receipts would be assessable income,

Question 1 10 Marks Briefly explain the extent, if any, to which each of the following receipts would be assessable income, exempt income, non-assessable non-exempt income or a capital gain of an Australian resident taxpayer if derived in the current year of income: In your answers, refer as appropriate to the ITAA 1936, ITAA 1997, Tax Rulings and/or case law. Required: (a) An amount of $100 received from the local tennis club in recognition of your assistance with their club accounts. (2 marks) …
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#065

Which of the following is (are) time series data? I. Monthly receipts at an apparel shop II…….

Which of the following is (are) time series data?I. Monthly receipts at an apparel shopII. Monthly demand for a technology itemIII. Dow Jones IndexSelect one:A. II only B. I only C. All of these D. None of these
Mar 12 2018 03:38 AM
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