Answers to Activities

Activity A

Activity B

Activity D

Activity E

Activity F

 

Activity G

Activity H

Activity I

Activity L

Activity M

Activity N

Activity O

Activity P

Activity Q-2

Activity U

Activity V

Activity W

 

 

 

 

 

 

Answer Activity A                              

 

 The answer is in the passage of information preceding the question. Please re-read to find your answer.

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Answer Activity B

 

Requirements Letter

Displays name of organisation generating the document

 C

Required to have an original and a duplicate

 H

Shows the date of the transaction

 D

Numbered for filing purposes and for reference

 B

Details of transaction clearly set out

 F

Numbers/figures aligned

 G

Contact information about the organisation generating the document.

 A

Details of client.

E

  Did you realise ?

The financial documents of a business must be kept for 7 years under Australian Taxation Law

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Activity D Answers

Did you mention things such as:

Petty Cash is a reserve of cash kept on the premises of a business to meet the small, Petty Cash payments that arise in a day to day running of a business. This may include tea, coffee, stamps, courier services and donations. There is a set procedure for managing Petty Cash vouchers and a Petty Cash book.

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Activity E Answers

1 B
2 E
3 C
4 A
5 D
6 F
7 G

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Activity F Answers

Step 1

Stationary Coffee
Tea Milk
Small Gifts Stamps
Taxi Fares Couriers
Plants Flowers
Biscuits Kitchen and Cleaning Supplies

Step 2 Vouchers answers

Step 2 cheques answers

 

 

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Activity G Answers

Completed Petty Cash Book

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Activity H Answers

Step 4 - Balancing Petty Cash Book

Question 1      $116.60

Question 2      $83.40

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Activity I Answers

Completed cheque

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Activity L Answers

Security Precautions include:

a receipt should be immediately prepared/issued for all cash received

cash and credit cards and vouchers should be banked daily if possible

all cash should be kept in a safe and secure area

all cheques received should be marked "not negotiable"

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Activity M Answers

Calculation Form
  Quantity Value
Notes $100 1 $100
$50 3 $150
$20 10 $200
$10 25 $250
$5 13 $65
Coins $2 52 $104
$1 30 $30
50c 12 $6
20c 28 $5.60
10c 30 $3
5c 18 $0.90

Total   

$914.50

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Activity N Answers

Cheque 1

Cheque 2

Date on butt different to the cheque

 Not crossed ( not negotiable)

Amount in words does not match amount in numbers

 Dollars missing

A signature is missing

 Balance carried forward incorrect

 

 "Dollars missing"

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Activity  O Answers

a. Total cash

 

$1360

b. Total cheques

 

$3060

c. Total deposits

 

$4420

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Activity  P Answers

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Activity  Q-2 Answers

Goods are sent by a business to the purchaser. The invoice is sent either by mail or with the goods. It sets out the payment requirements. The purchaser will then pay for the goods, usually accompanied by a remittance slip ( this is often a tear off section at eh bottom of the invoice)

 

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Activity  U Answers

Delivery docket

Invoice

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Activity  V Answers

Contact the supplier within time limits.

2

Re-check the documentation

 1

Discuss with your supervisor

 3

 

You may have found that your action depended on the kind of problem you had to deal with . Most often you would contact the supplier as there is usually a time limit for the return of goods. However, if there was a query about whether a good was work-related you may need to discuss this with your supervisor

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Activity  W Answers

Sentence 1. The accounts receivable clerk deals with the money coming into the business

Sentence 2. Batched information is included in the financial records of the business

Sentence 3. Batching involves sorting financial documents into groups

Sentence 4. A code is used to group documents

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