Additional information: a. An insurance policy examination showed $1,130 of expired insurance. b. b. An inventory count showed $103 of unused shop supplies still available. c. Depreciation expense on shop equipment, $235. d. Depreciation expense on the building. $5,428 e. A beautician is behind on space rental payments, and this $300 of accrued revenues was unrecorded at the time the trial balance was prepared. 1. $900 of the Unearned Rent account balance was still unearned by year-end. g. The one employee, a secretary, works a five-day workweek at $50 per day. The employee was paid last week but has worked three days this week for which she has not been paid. h. Three months' property taxes, totaling $450, have accrued. This additional amount of property taxes expense has not been recorded. i. One month's interest on the note payable, $700, has accrued but is unrecorded.

Additional information: a. An insurance policy examination showed $1,130 of expired insurance. b. b. An inventory count showed $103 of unused shop supplies still available. c. Depreciation expense on shop equipment, $235. d. Depreciation expense on the building. $5,428 e. A beautician is behind on space rental payments, and this $300 of accrued revenues was unrecorded at the time the trial balance was prepared. 1. $900 of the Unearned Rent account balance was still unearned by year-end. g. The one employee, a secretary, works a five-day workweek at $50 per day. The employee was paid last week but has worked three days this week for which she has not been paid. h. Three months' property taxes, totaling $450, have accrued. This additional amount of property taxes expense has not been recorded. i. One month's interest on the note payable, $700, has accrued but is unrecorded.

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

Chapter16: Advanced Topics Concerning Complex Auditing Judgments

Section: Chapter Questions

Problem 36RSCQ

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