Nicola, an Accounting Consultant, was employed by the Accounting Association to do a
presentation demonstrating how to:
prepare, match and process receipts monitor and manage transactions
maintain daily financial/business transactions in the organization.
Each participant was asked to complete the task assigned below:
a. The following transactions took place during the month of January 2010 at Peters Lid:
January 1 Sold goods for cash to Aron Butler $25 000 with receipt # 40
Janet Rose, a supplier sent 2 boxes black pens at $I 500 each, 3 cases pencil at S2 000 each less 10% trade discount with invoice number.
10 Purchase goods paying by cheque to Hopp Ltd with cheque #75 $30 000
From the above information create the following: i.cash receipt ii.purchase invoice ili. cheque
15 marks
b. Advise a colleague on the steps to prepare a bank reconciliation statement. 6 marks
c. Prepare a cash proof form as a cashier at Peters Ltd. from the following information on January 12, 2010:
Cash float
$10 000
Cash sales
$23 000
Cash paid out
S3 000
Cash in register $28 500
The cash registration number –
The cashier number – 1
12 marks