Evaluating internal control over cash receipts dogtopia, Finance Basics

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Evaluating internal control over cash receipts dogtopia

Question: Evaluating internal control over cash receipts Dogtopia sells pet supplies and food and handles all sales with a cash register. The cash register displays the amount of the sale. It also shows the cash received and any change returned to the customer. The register also produces a customer receipt but keeps no internal record of the transactions. At the end of the day, the clerk counts the cash in the register and gives it to the cashier for deposit in the company bank account.

Requirements: 1. Identify the internal control weakness over cash receipts.

2. What could you do to correct the weakness?

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