The MegaMax Theatre is located in the MetroMall and employs six cashiers. Two of them work from
Question:
The cashiers’ booths are located just inside the entrance to the lobby of the theatre. After purchasing their tickets, customers take them to a doorperson stationed at the entrance to the theatre, about 10 meters from the cashiers’ booths. The doorperson tears each ticket in half and drops the ticket stub into a locked box. The other half of the ticket is returned to the customer.
Required:
a. Outline the main internal control considerations for cash receipts generally, and briefly discuss how they apply to MegaMax Theatre’s cash receipts procedures.
b. Discuss any weaknesses in the current internal control system that could enable a cashier and/or doorperson to misappropriate cash.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Understanding Financial Accounting
ISBN: 978-1118849385
1st Canadian Edition
Authors: Christopher Burnley, Robert Hoskin, Maureen Fizzell, Donald
Question Posted: