This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: 7-39SOLUTION: Orange Corporation ORANGE CORPORATIONRaw Materials Recording and Transferring System FlowchartDecember 31, 20__7-40SOLUTION: Main Street Theater(a)The quantity of serially numbered tickets issued during the shift of each cashier is multiplied by the price per ticket to determine the amount of cash that the cashier should have on hand at the end of the shift.Two employees participate in each transaction. The withholding of cash receipts would require collusion between the cashier and the door attendant because the door attendant does not have access to cash and the cashier cannot cause a patron to be admitted without issuing to him a serially numbered ticket.(b)The following steps should be taken by the manager to make these controls work effectively:(1)Maintain careful control over unused rolls of tickets.(2)Make a record of the serial number of the first and last ticket issued on each cashier's shift....
View Full Document
This note was uploaded on 11/22/2011 for the course ACC 435 taught by Professor Hathcock during the Fall '11 term at National.
- Fall '11