Granada theater is in the greenbelt mall a cashiers booth

Reference no: EM13589796

Granada Theater is in the Greenbelt Mall. A cashier's booth is located near the entrance to the theater. Two cashiers are employed. One works from 1:00 to 5:00 P.M., the other from 5:00 to 9:00 P.M. Each cashier is bonded. The cashiers receive cash from customers and operate a machine that ejects serially numbered tickets. The rolls of tickets are inserted and locked into the machine by the theater manager at the beginning of each cashier's shift.

After purchasing a ticket, the customer takes the ticket to a doorperson stationed at the entrance of the theater lobby some 60 feet from the cashier's booth. The doorperson tears the ticket in half, admits the customer, and returns the ticket stub to the customer. The other half of the ticket is dropped into a locked box by the doorperson.

At the end of each cashier's shift, the theater manager removes the ticket rolls from the machine and makes a cash count. The cash count sheet is initialed by the cashier. At the end of the day, the manager deposits the receipts in total in a bank night deposit vault located in the mall. In addition, the manager sends copies of the deposit slip and the initialed cash count sheets to the theater company treasurer for verification and to the company's accounting department. Receipts from the first shift are stored in a safe located in the manager's office.

Identify the internal control principles and their application to the cash receipts transactions of Granada Theater.

Reference no: EM13589796

Questions Cloud

At the beginning of the year orbit airways purchased a used : at the beginning of the year orbit airways purchased a used boeing aircraft at a cost of 45 million. orbit expects the

After two weeks the money box appeared to be getting full : flint hills middle school wants to raise money for a new sound system for its auditorium. the primary fund-raising

Determine whether each transaction or event that follows : bragdon company is consistently profitable. its normal financial statement relationships are as followscurrent ratio

Where does the kinetic energy of the motorcycle go when the : a what is the kinetic energy in joules of an 850-lb motorcycle moving at 66 mph?b by what factor will the kinetic

Granada theater is in the greenbelt mall a cashiers booth : granada theater is in the greenbelt mall. a cashiers booth is located near the entrance to the theater. two cashiers

On january 1 2011 nfb visual aids issued 800000 of its : on january 1 2011 nfb visual aids issued 800000 of its 20-year 8 bonds. the bonds were priced to yield 10. interest is

When media company buys another goodwill is often the most : when media company buys another goodwill is often the most costly asset acquired. world media paid 700000 to acquire

Indicate the concentration of each of ion present in the : indicate the concentration of each of ion present in the solution formed by mixinga 42.0 ml of 0.170 m naoh and 37.6 ml

Lhrbaum amp company manufactures two products pillows and : lehrbaum amp company manufactures two products pillows and comforters. the company has estimated its overhead in the

User Account

All Pages