Nancy stail assistant on mpany, was transferred to anoth she could complete the audit of unrecorded accounts payable. Her working paper, which you have review complete, appears below. Invoice Date April 1,x2 April 30,X2 Wilcox Company Unrecorded Accounts Payable April 30, 20x2 Vendor and Description Hill & Harper-unpaid legal fees at April 30, X2 (see lawyer's letter at M-4) Drew Insurance Agency-unpaid premium at year-end on fire insurance for period April 1, X2- March 31, X3 (see insurance broker letter at 3-1-1). Payment made on May 7, 20x2. Mays and Sage, Stockbrokers-advice for 100 shares of Madison Limited common stock (settlement date May 7, X2) Lane Company-shipment received April 30, X2 per receiver number 3361 and included in April 30, X2, physical inventory; invoice not yet received (amount is per purchase order) Examined document docerbed M-1-1 Amount $ 1,250 2,700y 2,25@y 5,988y $ 12,188

Nancy stail assistant on mpany, was transferred to anoth she could complete the audit of unrecorded accounts payable. Her working paper, which you have review complete, appears below. Invoice Date April 1,x2 April 30,X2 Wilcox Company Unrecorded Accounts Payable April 30, 20x2 Vendor and Description Hill & Harper-unpaid legal fees at April 30, X2 (see lawyer's letter at M-4) Drew Insurance Agency-unpaid premium at year-end on fire insurance for period April 1, X2- March 31, X3 (see insurance broker letter at 3-1-1). Payment made on May 7, 20x2. Mays and Sage, Stockbrokers-advice for 100 shares of Madison Limited common stock (settlement date May 7, X2) Lane Company-shipment received April 30, X2 per receiver number 3361 and included in April 30, X2, physical inventory; invoice not yet received (amount is per purchase order) Examined document docerbed M-1-1 Amount $ 1,250 2,700y 2,25@y 5,988y $ 12,188

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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