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Flowcharts+In-Class+Exercise+Student - of a loan is the...

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Practice Reading Flowcharts Please answer the following questions. All questions refer to the Cash Receipts flowchart on page 21 of the Instructions, Flowcharts, and Ledgers booklet in the SUA. How many areas of responsibility are included in this flowchart? Who is involved in receiving a check and entering it on the cash receipts prelist? If a customer purchase order is received with a cash receipt, how will you determine what happens next to the customer purchase order? How many copies does the cash receipts prelist have? What does the following symbol tell you? Be specific. Who records the cash receipt in the cash receipts journal? If a cash receipt occurs because the company has received a check from a bank for the proceeds
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Unformatted text preview: of a loan, is the cash receipt posted to a subsidiary ledger? After a check is recorded on the prelist, what happens to the cash receipts prelist? Who prepares the bank deposit? How often does Waren Sports Supply make a bank deposit? Describe one good illustration of the sandwich rule in Ray Kramer’s area of responsibility. Who receives the validated deposit receipt from the bank? Is agreeing the deposit receipt to the prelist and to the cash receipts journal a computerized or manual process? What does the following symbol represent? Be specific. How is the following symbol used in flowcharting? 1 2...
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