he college you are attending has a very busy canteen. Students are allowed to place and pay for orders. The receipts for each transaction are stored in a container and are reconciled at the end of the day with the amount in the cash register. The canteen doesn’t allow card payment method. Based on the scenario above, answer the following questions: Q.1.4.1 Identify and motivate the transaction processing taking place in the above scenario. Q.1.4.2 If the canteen was to allow card payments

he college you are attending has a very busy canteen. Students are allowed to place and pay for orders. The receipts for each transaction are stored in a container and are reconciled at the end of the day with the amount in the cash register. The canteen doesn’t allow card payment method. Based on the scenario above, answer the following questions: Q.1.4.1 Identify and motivate the transaction processing taking place in the above scenario. Q.1.4.2 If the canteen was to allow card payments

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter10: Cash Receipts And Cash Payments

Section: Chapter Questions

Problem 4QY: Which of the following is not an advantage of the cash receipts journal? a. Transactions do not have...

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The college you are attending has a very busy canteen. Students are allowed toplace and pay for orders. The receipts for each transaction are stored in a containerand are reconciled at the end of the day with the amount in the cash register. Thecanteen doesn’t allow card payment method.Based on the scenario above, answer the following questions.Q.1 Identify and motivate the transaction processing taking place in theabove scenario.Q.2 If the canteen was to allow card payments and process transactionsimmediately, what type of transaction processing would the canteen beusing?
Identify the DFD in the following narrative: Hemant buys a new scooter at a local shop and pays with his debit card. The sales clerk enters the transaction in the cash register. At the time of closing, the sales clerk gives the register tape and the debit card PIN tape to his manager.
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Answer the following questionsYou were hired to assist Oman based Company in designing an accounting system for Oman Co., Ltd. has developed a list of the journals, ledgers, reports and documents that he thinks Oman Co., Ltd. The company asks you to complete the following tasks:c) Design a report to assist in managing credit sales and cash collections.d) What types of journals, ledgers and blank forms for various documents ( Sales invoices, purchase orders etc)
1. A special journal contains columns for Cash, Purchases Discounts and Accounts Payable. This journal is a (an) A. Invoice Register B. Sales Journal C. Cash Receipts Journal D. Cash Disbursements Journal 2. Which of the following is true of a voucher system? A. All major expenditures, including cash transactions for payment of rent and utilities expense, would first be credited to Vouchers Payable before payment is made. B. Transactions are first entered in the check register, and later, when payment is made, in the voucher register. C. The check register replaces the cash receipts journal. D. The voucher register contains a debit column for Vouchers Payable 3. An accounting clerk would take first which of the following steps? A. Post individual amounts to the subsidiary ledgers. B. File source documents C. Journalize the business transaction D. Post to the general ledgers. 4. The book of original entry that will accommodate entries which cannot be appropriately recorded in any of the…
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