4. Below are the 8 invoices being paid by Local City on September 1, 2018. You are determining whether the invoices are properly accrued and the proper accrual amount. The client has provided an AP aging for you to compare the invoices to. Determine if the AP balance is reasonably stated in relation to the financial statements as a whole. If Not make an entry on the Schedule of Audit Differences listed below The client has a policy to fully accrue all utility invoices and makes all other accruals in accordance with GAAP. Vendor Description of Service/Product Invoice Date PMT Date Amount Progress payment, 90% complete, 768,000.00 services for June 2018 ABC Construction 21-Aug-181-Sep-18 For engineering services Jan June Sparks Engineering 63,889.00 2018 2-Jul-181-Sep-18 CS Office Solutions 238.00 Coppier services - on site May 31, 2018 23-Aug-181-Sep-18 Audit services - Progress billing for CC Accounting 56,000.00 August 2018 3-Sep-181-Sep-18 Janitorial Inc. 598.00Cleaning Services - June 2018 30-Jun-181-Sep-18 Progress payment, 46% complete, services for August 2018 Local Contractor 245,500.00 12-Aug-181-Sep-18 Evn. Testing sit test performed April ENV Environmenta 323,545.00 12,22,23, July 17, 18, & 22 12-Aug-181-Sep-18 E Utilities 1,324.00 Utiliti Services 23-Jun-181-Sep-18 AP Aging 60 days Vendor Current 30 days ABC Construction 768,000.00 Sparks Engineering 63,889.00 CS Office Solutions 238.00 CC Accounting Janitorial Inc. Local Contractor 245,500.00 ENV Environmental 323,545.00 1,324.00 1,338,60700 63,889.00 1,324.00 E Utilities 1,324.00 Adjustment Material Required Mistatement Y/N Y/N Description Amount 4. Below are the 8 invoices being paid by Local City on September 1, 2018. You are determining whether the invoices are properly accrued and the proper accrual amount. The client has provided an AP aging for you to compare the invoices to. Determine if the AP balance is reasonably stated in relation to the financial statements as a whole. If Not make an entry on the Schedule of Audit Differences listed below The client has a policy to fully accrue all utility invoices and makes all other accruals in accordance with GAAP. Vendor Description of Service/Product Invoice Date PMT Date Amount Progress payment, 90% complete, 768,000.00 services for June 2018 ABC Construction 21-Aug-181-Sep-18 For engineering services Jan June Sparks Engineering 63,889.00 2018 2-Jul-181-Sep-18 CS Office Solutions 238.00 Coppier services - on site May 31, 2018 23-Aug-181-Sep-18 Audit services - Progress billing for CC Accounting 56,000.00 August 2018 3-Sep-181-Sep-18 Janitorial Inc. 598.00Cleaning Services - June 2018 30-Jun-181-Sep-18 Progress payment, 46% complete, services for August 2018 Local Contractor 245,500.00 12-Aug-181-Sep-18 Evn. Testing sit test performed April ENV Environmenta 323,545.00 12,22,23, July 17, 18, & 22 12-Aug-181-Sep-18 E Utilities 1,324.00 Utiliti Services 23-Jun-181-Sep-18 AP Aging 60 days Vendor Current 30 days ABC Construction 768,000.00 Sparks Engineering 63,889.00 CS Office Solutions 238.00 CC Accounting Janitorial Inc. Local Contractor 245,500.00 ENV Environmental 323,545.00 1,324.00 1,338,60700 63,889.00 1,324.00 E Utilities 1,324.00 Adjustment Material Required Mistatement Y/N Y/N Description Amount
