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