A cash prelist isSelect one:a.none of the mentioned choicesb.a document that records sales returns and allowancesc.a document returned by customers with their paymentsd.the source of information used to prepare monthly statements

Which of the following is not considered cash for financial reporting purposes?Group of answer choicesPetty cash funds and postal money orderUnrestricted compensating balancesDividend, interest and tax fundPostdated and stale checks from customers

Identify principles of cash control Understand the requirement for allowance for doubtful debts Identify weaknesses of cash receipts situation Prepare adjusting entries for bad and doubtful debts Complete a bank reconciliation Prepare an ageing analysis for accounts receivable Recognition of revenue Explain the difference between the direct write off of a bad debt and the allowance method Students are required to prepare for all the questions prior to attending the tutorial. Question 1. (Based on E13.12) The Conceptual Framework defines revenues and outlines a number of criteria for their recognition. Surfin’ Magazines Ltd identifies the following independent transactions and events: (a) Received $24 000 in subscriptions for magazines to be delivered once per month for the next 12 months. (b) Received dividends from IAG for shares owned by the business. (c) Paid interest on a loan to purchase a delivery vehicle. (d) Delivered magazines for the month for customers who had paid in advance. Required: (i) Outline how the Conceptual Framework defines revenue. (ii) AASB15 requires the recognition of revenue to consist of 5 steps. Apply the 5 – step process as required in AASB15 to item (a) (iii) For each of the other items listed above, explain whether you would recognise it as revenue in the Income Statement and provide general journal entries to record the transaction.

Name the three categories of a cash flow statement? Give an example of activities to be included in each of them? (6 Marks)

Cash can take many forms. From the lists of items below, choose the one which includes only items that would be defined as cash.Multiple choice question.Coins, accounts receivables, checksCoins, checks, money ordersChecks, money orders, suppliesChecks, coins, accounts payable

Which of the following is not typically included in the sales and collection cycle?Select one:a.allowance for uncollectible accountsb.cash credits from the cash disbursement journalc.bad debt expensed.sales returns and allowances