Robatelli’s Continuing Case Solution – Chapter 12
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a. Refer to the process map showing accounting cycle processes in Exhibit 12-5.
Which typical special journals and subsidiary ledgers would be needed at Robatelli’s?
Which ones would not be needed and why?
Robatelli’s purchase, accounts payable, and inventory systems are likely to be
similar to what most companies have. They purchase, pay for, and maintain a vast
inventory of food items, ingredients, and other supplies. Thus, they should have
need of purchases, cash disbursements, and payroll special journals, as well as
accounts payable, inventory, and payroll subsidiary ledgers.
Robatelli’s would not need an accounts receivable subsidiary ledger, nor a cash
receipts journal. Robatelli’s does not have sales that are paid at a later date. Sales
are cash or credit card transactions. The cash registers record and track cash
collections.
b. How do the daily close procedures and summarizations that are the responsibility of
Robatelli’s restaurant managers fit into the company’s overall accounting cycle
process? Use information from the chapter to describe this scenario.
These daily close and forwarding of sales summaries serves as the journal voucher