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At the Main Street Theater, the cashier, located in a box office at the entrance, receives cash from customers and operates a machine that ejects serially numbered tickets. To gain admission to the theater, a customer hands the ticket to a door attendant stationed some 50 feet from the box office at the entrance to the theater lobby. The attendant tears the ticket in half, opens the door for the customer, and returns the stub to the customer. The other half of the ticket is dropped by the door attendant into a locked box.

What controls are present in this phase of handling cash receipts?

What steps should be taken regularly by the manager or other supervisor to give maximum effectiveness to these controls?

Assume that the cashier and the door attendant decide to collaborate in an effort to steal cash receipts. What action might they take?

Continuing the assumption made in above of collusion between the cashier and the door attendant, what features of the controls would be likely to disclose he embezzlement?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M942490

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