In addition to serving customers in the restaurant, Ashley’s restaurant does catering for weddings and corporate events. Jill books Ashley’s restaurant to do part of the catering for her wedding—the hors d’oeuvres for the pre-dinner cocktail party and the wedding cake for the dessert (both the display cake and the individual pieces for guests to eat). Jill gives Ashley a $500 deposit on the quoted contract price of $3000. A month before the wedding, Jill calls to cancel because the groom has backed out. She requests return of her deposit, and the contract is silent about cancellation and deposit return. Ashley has not purchased any of the food yet; however, she did turn down another catering job for the same day. What should she do?
distinguish between income& expenditure and profit &loss a/ca) what do you understand by errors? What are the main types of errors (10marks) b) distinguish between income& expenditure and profit &loss a/c (5 marks) c) distinguish between trade discount and cash discount (5 marks) d) from the following information, prepare a bank reconciliation statement (10 marks) i) balance as per bank statement 9,500 ii) balance as per cash book 12,300 iii) cheques issued and not collected 2,500 iv) direct deposits 1,500 v) bank charges not included in cash book 500 vi) standing orders 2,000
May 16, 2016
7:09 pm
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