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1 . Naomi Leigh, CPA is on the audit team that is performing the audit of Vaden, Inc. She has obtained the bank reconciliation for
Naomi Leigh, CPA is on the audit team that is performing the audit of Vaden, Inc. She has obtained the bank reconciliation for December from the client and has been instructed to test the reconciliation. He found the following items on the reconciliation a Balance per bank at was $ b Two deposits in transit for $ and for $ c Outstanding Checks: Check # Date of Check Dollar Amount $ $ $ $ $ d Customer note collected by bank: $ e Balance per books at was $ In addition, you have a cutoff bank statement dated that you received directly from the bank. Required: For each of the items a e describe any procedures that Naomi most likely would perform to gather evidence in support of that item.
Naomi Leigh, CPA is on the audit team that is performing the audit of Vaden, Inc. She has obtained the bank reconciliation for December from the client and has been instructed to test the reconciliation. He found the following items on the reconciliation
a Balance per bank at was $
b Two deposits in transit for $ and for $
c Outstanding Checks:
Check # Date of Check Dollar Amount
$
$
$
$
$
d Customer note collected by bank: $
e Balance per books at was $
In addition, you have a cutoff bank statement dated that you received directly from the bank.
Required:
For each of the items a e describe any procedures that Naomi most likely would perform to gather evidence in support of that item.
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