Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Scenario - About This Project This project is about preparing and creating the financial documents for a small coffee shop. Ms. Reem Ahmad is the

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Scenario - About This Project This project is about preparing and creating the financial documents for a small coffee shop. Ms. Reem Ahmad is the owner of the "Cup of Joy" coffee shop. The business opened 11 months ago in Dammam. The business provides different types of coffee, sandwiches and snacks. There are 7 employees in the coffee shop, a Barista, a Roaster, a Cashier, a Cleaner, a Waiter, an Accountant and a General Manager. You have just been hired to fill in the position of an Assistant Accountant in the financial department. According to your position you have to help the business with the following tasks: In the past few months, the business faced issues with recording the financial transactions into the General Journal and then posting them into the Ledger. You need to find out which transactions have not been recorded and you must update the General Journal and Ledger accordingly. In addition, you need to report this action to your manager by writing an email. One of the business policies is to sell on account, which gives the customer opportunity to enjoy his/her moment with a tasty cup of coffee and then pay later. Unfortunately, there are some customers who miss the payment deadline. Ms. Reem has asked you to follow up with the customers who missed the payment deadline. The coffee shop wants to run an outside event, and so you must confirm the planning event request with another company. To do this, you must contact the company by email, confirming the type of venue, date, and time. Also, after the event you will receive invoices from the customers. You need to check the invoices before confirming the payment to see if it's accurate, and if needed, fix any errors. Report the errors via an email and send it to the customers. "Cup of Joy" coffee shop usually prepares the cash flow statement every 6 months. In the first period, Ms. Reem has asked the accountant to prepare a cash flow statement. Your role is to check the cash flow statement, find any errors and fix them. Once this is done, you will need to write an email to Ms. Reem explaining any changes you've made and provide her with the correct cash flow statement. Task 2: Invoice Task No. Question Details 2.1 On 25-7-2018, the event planner at Arkad Company in Al-Khobar contacted you to run a special event in the head office located in Al-Khobar. The event will be held on 30-7-2018 between 6-10 pm. The planner has sent you an email which includes all information about the company, the event and the kind of services they are looking for. After reading the email you decided to run this event. You met with your team to plan for the event. Write a confirmation email to the event planner and include the following information: General information about the coffee shop The products (Cake, juice, etc.) Arriving time Payment methods Policy Services 2.2 - Use MS Word to write this email -Supporting document: Arkad's email APPENDIX A On 1-8-2018 you've received an invoice from Arkad Company. You need to check the invoice and identify if there are some errors. If you discovered an error then you need to write an email to Arkad Company explaining these errors that you've identified and informing them to send you an updated invoice. Note: Cup of Joy served the Salad for free in the event. VAT is 5%. -Supporting document: Invoice APPENDIX B - Record both transaction in the General Journal then Post them in the Ledgers using either MS Excel or MS Word 2,3 Appendix A From: Arkad Company To: Cup of Joe Subject: Event Hosting Greeting, I hope this email finds you well. As a part of Arkad Company let me present our company. Arkad Company is Saudi Company located in Khobar. The main activity of the business is engineering and construction. However, as one of our policy company, we run annual event for our employees as a respective for our employee hard work. We would like you to run this event for our company. The event details are: Time: 6-10 pm Number of guest: 90 people Location: the company head office in Khobar Requirement: we would like you to serve coffee, juice, salad, sandwich and cake If you are interested please send us a confirmation email within 10 days Thank you Regards Arkad Event Planer 27-7-2017 APPENDIX B Invoice Arkad Company Al Khobar BILL TO Cup of Joe INVOICE # INVOICE DATE 100 01/08/2017 AD ESURIPTIO Coffee Salad Juice Sandwich Cake 850.00 120.00 750.00 1,000.00 2,400.00 TOTAL . 5,120.00 Terms & Conditions Payment is due within 15 days Thank you as to the hosting and services 5 discount for early payment

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Charles E. Davis, Elizabeth Davis

2nd edition

1118548639, 9781118800713, 1118338448, 9781118548639, 1118800710, 978-1118338445

More Books

Students also viewed these Accounting questions