Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Tarea 7.1 EX 8-2 Internal controls OBJ. 2,3 Jimmy Pace has recently been hired as the manager of Jittery Jon's Coffee Shop. Jittery Jon's Coffee

Tarea 7.1

image text in transcribed
EX 8-2 Internal controls OBJ. 2,3 Jimmy Pace has recently been hired as the manager of Jittery Jon's Coffee Shop. Jittery Jon's Coffee Shop is a national chain of franchised coffee shops. During his first month as store manager, Jimmy encountered the following internal control situations: a. Jittery Jon's Coffee Shop has one cash register. Prior to Jimmy's joining the coffee shop, each employee working on a shift would take a customer order, accept payment, and then prepare the order. Jimmy made one employee on each shift responsible for taking orders and accepting the customer's payment. Other employees prepare the orders. b. Because only one employee uses the cash register, that employee is responsible for counting the cash at the end of the shift and verifying that the cash in the drawer matches the amount of cash sales recorded by the cash register. Jimmy expects each cashier to balance the drawer to the penny every time-no exceptions. c. Jimmy caught an employee putting a case of 1,000 single-serving tea bags in her car. Not wanting to create a scene, Jimmy smiled and said, "I don't think you're putting those tea bags on the right shelf. Don't they belong inside the coffee shop?" The em- ployee returned the tea bags to the stockroom. State whether you agree or disagree with Jimmy's method of handling each situa- tion and explain your

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

Financial Accounting An Introduction

Authors: Pauline Weetman

4th Edition

0273703404, 978-0273703402

More Books

Students also viewed these Accounting questions

Question

2. Develop a good and lasting relationship

Answered: 1 week ago

Question

1. Avoid conflicts in the relationship

Answered: 1 week ago