It is known that the cash balance on the books of $5,000 at the time of the physical cash count found that notes amounted to $4,000 and coins $500. A). What is the amount of cash according to the audit results? and B). Is there a correction journal? If there is, make it.
It is known that the cash balance on the books of $5,000 at the time of the physical cash count found that notes amounted to $4,000 and coins $500. A). What is the amount of cash according to the audit results? and B). Is there a correction journal? If there is, make it.
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter10: Auditing Cash And Marketable Securities
Section: Chapter Questions
Problem 32MCQ
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It is known that the cash balance on the books of $5,000 at the time of the physical cash count found that notes amounted to $4,000 and coins $500. A). What is the amount of cash according to the audit results? and B). Is there a correction journal? If there is, make it.
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