Quiz _2 - Winter 2010

Quiz _2 - Winter 2010 - University of Toronto Faculty of...

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University of Toronto March 23, 2010 MGT201 H1S Quiz #2 Financial Accounting I Duration: 1 hour Aids allowed: Non-programmable calculator Instructions: Please print your name and student in the space provided below. GOOD LUCK!!! ------------------------------------------------ --------------------------------------------- Student name (LAST NAME FIRST) Student number Marks: Part A ( 9 marks) Part B ( 5 marks) Part C ( 8 marks) Total ( 22 marks)
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Part A (9 marks) Amanda’s Dance Essentials has one trusted employee, Luca. The owner relied extensively on Luca for all accounting related functions. The owner was very impressed with Luca’s dedication and commitment to the company. The owner said, “Luca handles all of the bookkeeping and paperwork for the company”. Luca is responsible for counting, verifying, and recording cash receipts and payments, making the weekly bank deposit, preparing cheques for major
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Quiz _2 - Winter 2010 - University of Toronto Faculty of...

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