7.7, 7-8) You are the in-charge auditor on the audit of Vandervoort 1 (0lend are to review the audit schedule shown below. hedeficiencies in the audit schedule. , list ich deficiency, state how the audit schedule could be improvesd. b For e an improved audit schedule, using an electronic spreadsheet software pro- Required udean indication of the audit work done as well as the analysis of the client data (instructor's option) Vandervoort Company A/C # I 10-Notes Receivable 12-31-16 Schedule N- Date Prepared by JD 1-21-17 Approved by PP 2-15-17 MARTIN- PETERSON AJAX, INC. 11/21/15 APEX CO. 6/15/15 None 5% None TENT CO. 9/3/16 $400/mo. 11/30/16 JJ.CO PSMITH 7/26/16 5/12/15 Demand Paid Demand $200/mo. $1,000/mo. Paid 12/31/16 9/30/16 $5,000 x $3,591 x 13,180 xS 25,000 $2,100 x S 12.000 x 5% 5% 6% None 24,000 50,000 None 10000 Valae of security Note Receivable: 128115 bal. $4,000 py $3,591 py S 12,780 py S $2,100 py 2.100) x 1.600) x s S 10400 TOTALS 1231/15 bal. 25,000 12,000 (1.000 x S(B,591) x (2.400) x (5,000) x $3,000 $3,000 1231/16 bal $0 10,380 20,000 s 4,800 $22,200 tb -S 2,400 12,000 8,000 5.600 21580 tb 20,000s 0 10.400 $43,780 t 7.980 Total end. bal. $3,000es S 10,380 Interest Receivable: 104 py 0 py $ 24 py S 0 $ 128 12/31/15 bal Inerest carned 175 Imerest received Py 105 x (105) x (108) x (1.11 162 x 1,589 # 577 x (601) x 468 x 0 279 1231/16 bal. s 00268 S 0 54 601 a/r x = Tested py - Agrees with prior year's audit schedules tb Agrees with working trial balance. # Agrees with miscellaneous income analysis in operations w/p. ajr - Agrees with A/R lead schedule Chapter 7 / AUDIT EVIDENCE 217