FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Discuss the following types of financial transactions that commonly take place in tourism, travel, hospitality and event organisations in 50-100 words each: Advance payments

Discuss the following types of financial transactions that commonly take place in tourism, travel, hospitality and event organisations in 50-100 words each: • Advance payments • Application of Goods and service tax(GST) • Payments such as: o Cash o Cheque o Credit card o Eftpos. • Deposits • Foreign currency • Petty cash disbursements • Refunds • Traveller's cheques • Vouchers

Step by Step Solution

There are 3 Steps involved in it

Step: 1

1 Advance Payments Prepayments made by customers for services like hotel bookings or event tickets 2 ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting an introduction to concepts, methods and uses

Financial Accounting an introduction to concepts, methods and uses

Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis

13th Edition

978-0538776080, 324651147, 538776080, 9780324651140, 978-0324789003

More Books

Students also viewed these Accounting questions

Question

★★★★★
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Answered: 1 week ago

Question

★★★★★
1 What are the main components of personal financial planning? Solve What is the purpose of a financial plan? Solve Identify some common actions taken to achieve financial goals. How does a job...

Answered: 1 week ago

Question

★★★★★
7) The second financial statement to prepare is the statement of retained eamings. To determine the ending balance of retained earnings you need to start with the opening balance as reported in the...

Answered: 1 week ago

Question

★★★★★
Draw a plausible mechanism for each of the following transformations: (a) (b) [TSOH] MENH2 -H20

Answered: 1 week ago

Question

★★★★★
Critique the safety of each of the following passwords, giving your specific reasoning. a) Swordfish b) Lt6^ c) Processing1 d) Nitt4aGm^?

Answered: 1 week ago

Question

★★★★★
A furniture-making business manufactures quality furniture to customers' orders. It has three production departments and two service departments. Budgeted overhead costs for the coming year are as...

Answered: 1 week ago

Question

★★★★★
Tell me what you know about our organization and the position.

Answered: 1 week ago

Question

★★★★★
On July 31, 2017, Mexico Company paid $3,000,000 to acquire all of the common stock of Conchita Incorporated, which became a division of Mexico. Conchita reported the following balance sheet at the...

Answered: 1 week ago

Question

★★★★★
The Everlasting Balloon Company produces party balloons that are sold in multi-pack cases. To follow is the company's performance report in contribution margin format for August E(Click the icon to...

Answered: 1 week ago

Question

★★★★★
Custom Uniforms produces uniforms. The company allocates manufacturing overhead based on the machine hours each job uses. Custom Uniforms reports the following cost data for the past year: (Click the...

Answered: 1 week ago

Question

★★★★★
http://www.prowebscraper.com/blog/web-mining-tools/#bestminingtools Data Miner (Web Content Mining Tool) 1)What data mining techniques / algorithms are used by that(Data Miner tool mentioned in the...

Answered: 1 week ago

Question

★★★★★
1. 2. San Jose Inc. uses a weighted-average process costing system. All materials are introduced at the start of manufacturing, and conversion cost is incurred evenly throughout production. The...

Answered: 1 week ago

Question

★★★★★
A cake maker has determined that the cost of producing wedding cakes is $61.50 per wedding cake plus $16620 per month in fixed costs. The cake maker sells each wedding cake for $200. Step 2 of 4:...

Answered: 1 week ago

Question

★★★★★
Research about Park Hyatt Melbourne . Would you be able to help me with these questions below with a link attached to each question so I can have a look if I need to find more information? Customer...

Answered: 1 week ago

Question

★★★★★
The sheet metal part has the dimensions shown. Determine the z-coordinate (z bar) of its centroid. Given that a=5.1 m, b=7.7 m and c=4.5 m. Round off the answer to 2 decimal places and use the unit...

Answered: 1 week ago

Question

★★★★★
Write the formulation only to Maximize the volume of the rectangle, given that the area is 6 mm^2, using NON-LINEAR PROGRAMMING

Answered: 1 week ago

Question

★★★★★
Computing Subsequent Carrying Amount of Patents In January of Year 1, Ford Co. purchased a patent from a research institution for $300,000. The patent was estimated to have a useful life of 15 years....

Answered: 1 week ago

Question

★★★★★
Define a traverse in Surveying?

Answered: 1 week ago

Question

★★★★★
Selected data from the statement of cash flows for Jackson Corporation for the years ended October 31, 2008, 2007, and 2006 appear as follows (amounts millions) Prepare a statement of cash flows for...

Answered: 1 week ago

Question

★★★★★
Competition among acquiring firms to make a corporate acquisition may result in the successful firm paying more than the fair value of another firm. The acquiring firm will allocate the excess...

Answered: 1 week ago

Question

★★★★★
Using accounts receivables to achieve off-balance-sheet financing. Cypress Appliance store has $100,000 of account receivable on its books on January 2, 2008. These receivables are due on December...

Answered: 1 week ago

Question

★★★★★
People can be resistant to persuasion because of preexisting biases, commitments, and knowledge. They selectively attend to and evaluate information according to their original attitudes, tuning in...

Answered: 1 week ago

Question

★★★★★
People with more knowledge are more resistant to persuasion because they can counterargue messages that take a position opposite to what they know and believe.

Answered: 1 week ago

Question

★★★★★
1. A new boutique coffeehouse just opened in your neighborhood featuring coffee sustainably sourced from small organic farms around the world. Design two ads for the coffeehouse, one using the...

Answered: 1 week ago

Previous Question Next Question