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Principles of Accounting in Practice - Cash Flow - Accounting Assignment Help

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Internal Code : 1AAEEI

Principles of Accounting Assignment Help

Task : 1 Classify the following items as either, Cash Flows from Operations, Cash Flow from investing activities or Cash flow from financing.
  • Dividends
  • inventory
  • loans
  • equipment
  • financing
  • building
  • shares
  • machinery
  • accounts receivables
  • debt
  • accounts payable
  • depreciation
Task : 2 The following information relates to the details of a commenced business. Transactions Transactions Transactions Transactions Additional Information: The stock of hats at the end of the period was $22,488.
  1. Put the following transactions of a new business into appropriate journals.
  2. Post the journals to the general ledger.
  3. From the completed general ledger balance prepare a trial balance.
  4. Prepare an income statement, balance sheet and cash flow statement from the trial balance prepared in the question above.
Task : 3 Prepare a subsidiary ledger from the control accounts in the above example. Task : 4 David Starling runs a professional tennis business in which he hires out tennis courts, sells tennis equipment and coaches tennis. He has three coaches working for him. The coaching schedule includes children’s classes of eight students, private lessons and squad training. David’s coaches include advanced, intermediate and beginner and all have a different charge out rate. David’s organisational policy and procedures which is in the form of an operations manual, provides that an advanced coach (Joe) can provide private lessons to all levels while a beginner coach (Stacey) cannot take private lessons and an intermediate coach (Nina) can only take private lessons for C grade students and below. The beginner coach can only coach as an assistant in class coaching. Each coach must fill in their time sheet based on the coaching they undertake each week by using a key as David does not want the pay rates on display. David has noticed that more students are requesting to enrol in the group classes that Stacey is assisting in. Some have not enrolled at all when they found her classes were full. He had noticed that while Joe and Nina were enthusiastic in their private lessons they seemed less emotionally engaged when they were assisting him. David had always encouraged his whole team and he sees it as important that they each coach at least one class assisting him to ensure the culture of how he coaches is reinforced. P1 = Private Lesson 1 hour B grade and above P2 = Private Lesson 1 hour C grade and below G = Group Lesson 1 hour   A = Assistant 1 hour S = Squad training 1 hour Pay Rate P1 = $80 per hour P2 = $50 per hour G  = $40 per hour A  = $20 per hour S  = $40 per hour transactions
  1. Consolidate the amount of teaching that each coach does into a summary for the end of the week using the system that is required by David’s organisational policy and procedures or operations manual.
  2. Convert the data into traditional accounting data for wages.
  3. Develop quality indicators known as performance indicators or critical milestones for the coaches and identify options for improvement within time frames.
Task : 5 Sabrina Pty. Ltd. entered a $4,000,000 contract over five years to construct buildings and was paid 30% up front and 20% in years 2, 3 and 4 and a final payment in the last year of 10%. They expended more in getting the business started i.e. $800,000 in year 1, $500,000 in years 2, 3 and 4 and $100,000 in the final year.
  1. What would Sabrina Pty. Ltd. profit look like using the cash system?
  2. If the expenses and revenues were incurred and earned equally over the term of the contact calculate the businesses profit and loss for the five years using the accrual system.
  3. Prepare the balance day adjustment entries for revenues and expenses.
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