Korbin Simpson is the accountant for Nasese Bakery Ltd. The bakery has three bakers who are...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Korbin Simpson is the accountant for Nasese Bakery Ltd. The bakery has three bakers who are paid on an hourly basis. When the bakers arrive at work, they must punch in their time card and punch out when the leave work. At the end of the week, Korbin processes the bakers' pay by calculating the number of hours they worked during the week. Payslips are generated and a copy is sent to the bakers and a copy kept for filing. Korbin then prepares the cheque and signs it and then sends it to the Bakery Manager who is the other cheque signatory. Korbin then sends the cheque to the bank with a soft copy of the disc data instructing the bank to directly credit the wages to the respective bakers' bank accounts. Required: i. ii. Draw a document flow chart of the payroll system of Nasese Bakery Limited Discuss the weaknesses of the payroll internal control system Korbin Simpson is the accountant for Nasese Bakery Ltd. The bakery has three bakers who are paid on an hourly basis. When the bakers arrive at work, they must punch in their time card and punch out when the leave work. At the end of the week, Korbin processes the bakers' pay by calculating the number of hours they worked during the week. Payslips are generated and a copy is sent to the bakers and a copy kept for filing. Korbin then prepares the cheque and signs it and then sends it to the Bakery Manager who is the other cheque signatory. Korbin then sends the cheque to the bank with a soft copy of the disc data instructing the bank to directly credit the wages to the respective bakers' bank accounts. Required: i. ii. Draw a document flow chart of the payroll system of Nasese Bakery Limited Discuss the weaknesses of the payroll internal control system
Expert Answer:
Answer rating: 100% (QA)
Answers i Start Document Flow Chart of the Payroll System of Nasese Bakery Ltd Bakers arrived at wor... View the full answer
Related Book For
Business Statistics A First Course
ISBN: 978-0321979018
7th edition
Authors: David M. Levine, Kathryn A. Szabat, David F. Stephan
Posted Date:
Students also viewed these accounting questions
-
The Prince Albert Corporation has forecast the following sales for the first seven months of the year. Monthly material purchases are set equal to 30 percent of forecasted sales for the next month....
-
The marketing department has proposed selling your company's product line in a new export market. Production equipment (Class 43) with a CCA rate of 30% costing $100,000 will be needed, as will...
-
The Denver Corporation has forecast the following sales for the first seven months of the year: Monthly material purchases are set equal to 40 percent of forecasted sales for the next month. Of the...
-
Windy Company manufactures surfboard bags in a one-department process: Design and Manufacturing. The Design and Manufacturing Department uses weighted-average costing method. The following tables...
-
Can a low barometer reading be used to predict maximum wind speed of an approaching tropical cyclone? Data for this problem are based on information taken from Weatherwise (Vol. 46, No. 1), a...
-
Kauai Stores inventory is destroyed by a fire on September 5, 2013. The following data for year 2013 are available from the accounting records. Estimate the cost of the inventory destroyed. Jan. 1...
-
What are the different types of schemes associated with complex frauds?
-
The comparative condensed income statements of Hendi Corporation are shown below. Instructions (a) Prepare a horizontal analysis of the income statement data for Hendi Corporation using 2013 as a...
-
1. Create a demand graph using the following table of values: PRICE QUANTITY 500 10 20 450 30 400 40 350 50 300 60 250 70 200 2. Create a supply graph using the following table of values: PRICE...
-
Jill has decided that the BackPack Company must have very good customer service. She has asked you to develop a level aggregate plan using inventories but not back orders. All demand must be met each...
-
A credit analyst has received a $500,000 order from a new customer. The cost of filling the order (i.e., COGS) is $20,000 and collection costs are 1% of sales. The credit analyst notes that the COGS...
-
c. How do I define a class in python? What does every function need if it isn't static? What does the thing they need refer to? d. What is the difference between a static function and a non static...
-
Snoopy and Woodstock both need to have some letters typed and some carpets vacuumed. The following table describes how much each of them can accomplish in one hour if that hour is spent either typing...
-
How can leaders effectively balance participative decision-making processes with the need for decisive action in high-stakes situations?
-
"V If an initial condition is given, find the corresponding particular solution. Throughout, primes denote derivatives with respect to x. 1. y' + y = 2, y(0)=0 2. y' - 2y = 3et. y(0) = 0 3....
-
A semiconductor is illuminated by light at 850 nm with 500 W/m2 at a right angle to the semiconductor surface. The refractive index and the absorption coefficient at 850 nm of this semiconductor are...
-
Question 4- In the following table, you see the breakdown of the CPI between its major components. Calculate the percentage changes from Feb 2020 to Feb 2021 and identify what might have impacted...
-
The slopes of the tangents at the points where the curve y = x2 - 4x intersects the X-axis is 1) 1 2) +2 3) +3 4) +4
-
A toll- free phone number is available from 9 a.m. to 9 p.m. for your customers to register complaints about a product purchased from your company. Past history indicates that an average of 0.8 calls...
-
In Problem 12.5 on page 424, you used the summated rating to predict the cost of a restaurant meal. Perform a residual analysis for these data (stored in Restaurants). Evaluate whether the...
-
In Problem 13.8 on page 470, you used the land area of a property and the age of a house to predict the fair market value (stored in GlenCove). Using the results from that problem, a. determine...
-
In July 2006, the International Brotherhood of Teamsters, Local Union 25, filed two petitions and held an election for a collective bargaining representative at two FedEx locations. However, FedEx...
-
The trustee calculated Millers current monthly income to be \($6,601.91.\) The disagreement stemmed from a paycheck Miller received on October 10, 2013, in the amount of \($2,942.66,\) for wages that...
-
Miller filed for Chapter 7 bankruptcy protection on April 26, 2013. Based upon the filing date, the period for determining Millers current monthly income was October 1, 2012, through March 31, 2013....
Study smarter with the SolutionInn App