Transactions (revenue vs cash received)

1.A customer placed an order for a VW car on 1 January 2019. The payment for the car, RM250,000 was received on 1 March 2019.The car was delivered to the customer on 2 July 2019.

2.A number of subscriptions with payments were received on 15 January 2019, which cover the entire year, amounting to RM2,000.

3.The company sold RM200,000 worth of product in January to April 2019 and 80% of the sales were paid in cash by the end of June.

4.The company won a government contract to build a bridge. The contract revenue was RM1 million. The agreement was signed on 5 February 2019. The bridge is expected to complete by 31 December 2023. Assuming, as at 30 June 2019, the bridge was 20% completed.

Answers are below table:

AutoSave . Off upload - Lecture 5 - full slides SEM 2 2019 Qiqi Chen QC X File Home Insert Draw Design Transitions Animations Slide Show Review View Help Search Share Comments & Cut Layout 18 ~A" A" A 14 Text Direction Shape Fill ~ Find Paste [G Copy New Reuse Reset Gem{ } = Arrange Quick Shape Outline Gc Replace ~ Select Dictate Format Painter Slide ~ Slides Section BIUS abAV Aa LA~ Align Text Convert to SmartArt ~ Styles . Shape Effects ~ Clipboard Slides Font Paragraph Drawing Editing Voice 33 TRANSACTIONS (REVENUE VS CASH RECEIVED) CLICK TO ADD TITLE TABLE 1 Transactions How much revenue to How much cash to recognise 35 recognise by 30 June 2019? by 30 June 2019? TRANSACTIONS (EXPENSES VS CASH PAYMENTS) WNH 0 250,000 on thursay 2019, kesure 1,000 2,000 200,000 160,000 200,000 0 36 Total revenue / cash 401,000 412,000 received 3X Learning Objectives " Explain why cash and cash flows are important to the reporting entity * Explain the nature, purpose and layout of Slide 34 of 41[ DX English (Malaysia) Notes 19 8: 9 -- + 114% ENG 7:35 PM 9/10/2019AutoSave . Off upload - Lecture 5 - full slides SEM 2 2019 Qiqi Chen QC X File Home Insert Draw Design Transitions Animations Slide Show Review View Help Search Share Comments & Cut Layout - 12 + AA A 14 Text Direction ~ Shape Fill ~ Find Paste [G Copy New Reuse Reset BIUS ab AV Aa LA~ Align Text Shape Outline Gc Replace Format Painter Dictate Slide ~ Slides Section Convert to SmartArt ~ Arrange Quick Styles . Shape Effects ~ Select Clipboard Slides Font Paragraph Drawing Editing Voice 33 TRANSACTIONS (REVENUE VS CASH RECEIVED) 2458 and 20ty of the aides were pad is said by the sad of pre The company was agreementer canact so build a bridge The TABLE 2 34 Transactions How much expenses to recognise in How much cash payments to recognise in March 2019 March 2019? 1 5,000 0 2 1,000 2,000 35 TRANSACTIONS (EXPENSES VS CASH PAYMENTS) 3 2,000 0 Fold raoul foes of $2006, on 1 March 2010 for Mack's and Sprite on 1 bursary 2019, kesure Total expenses/cash 8,000 2,000 paid 36 3X Learning Objectives Explain why cash and cash flows are important to the reporting entity Explain the nature, purpose and layout of Slide 36 of 41 DX English (Malaysia) Notes 19 8: 9 -- + 114% ENG 7:38 PM 9/10/2019