8.61 Search for Unrecorded Liabilities. The list of vouchers payable for Potter's Magic Shoppe at December...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
8.61 Search for Unrecorded Liabilities. The list of vouchers payable for Potter's Magic Shoppe at December 31 follows: Vendor Hagrid Cleaning Services Hermione's Hats Invoice Date Amount 11/15 $ 4,322.43 12/02 2,167.76 Lockhart Magic Books 12/31 6,489.11 Malfoy Financial Consultants 12/28 23,752.63 McGonagall Veterinary Supplies 12/23 4,590.60 Moaning Myrtle's Mystical Capes 10/14 11,529.88 Nicholas Fancy Headwear 12/29 51,268.62 Snape's Snakes 12/28 36,152.45 Weasley's Wands 12/28 6,400.55 Hogwart's Rentals Total vouchers payable Checks written in the following January are 12/15 53,000.00 $199,674.03 Check Number Payee Description Invoice Date Amount 1842 Malfoy Financial Consultants Professional services 12/28 $23,752.63 1843 Hagrid Cleaning Services October monthly cleaning 11/15 4,322.43 1844 Hogwart's Rentals January rent 12/15 53,000.00 1845 Lockhart Magic Books Inventory 12/31 6,489.11 1846 Dudley Pastries Catering for office Christmas party 1/15 6,300.00 1847 Weasley's Wands Inventory 12/28 6,400.55 1848 Rowlin' Enterprises Trademark 1/1 10,000.00 1849 McGonagall Veterinary Supplies Inventory 12/23 4,590.60 1850 Nicholas Fancy Headwear Inventory 12/29 51,268.62 1851 Weasley's Wands Inventory 12/31 6,400.55 1852 Hermione's Hats Inventory 12/02 2,167.76 1853 Lockhart Magic Books Inventory 12/31 5,932.89 1854 Hagrid Cleaning Service November monthly cleaning 12/15 4,32243 1855 Malfoy Financial Consultants Professional services 1/28 13,888.56 Required b. Prepare an adjusting journal entry to correct accounts payable. Potter's maintains perpetual inventory records, and the inventory was counted and adjusted on December 31. 8.61 Search for Unrecorded Liabilities. The list of vouchers payable for Potter's Magic Shoppe at December 31 follows: Vendor Hagrid Cleaning Services Hermione's Hats Invoice Date Amount 11/15 $ 4,322.43 12/02 2,167.76 Lockhart Magic Books 12/31 6,489.11 Malfoy Financial Consultants 12/28 23,752.63 McGonagall Veterinary Supplies 12/23 4,590.60 Moaning Myrtle's Mystical Capes 10/14 11,529.88 Nicholas Fancy Headwear 12/29 51,268.62 Snape's Snakes 12/28 36,152.45 Weasley's Wands 12/28 6,400.55 Hogwart's Rentals Total vouchers payable Checks written in the following January are 12/15 53,000.00 $199,674.03 Check Number Payee Description Invoice Date Amount 1842 Malfoy Financial Consultants Professional services 12/28 $23,752.63 1843 Hagrid Cleaning Services October monthly cleaning 11/15 4,322.43 1844 Hogwart's Rentals January rent 12/15 53,000.00 1845 Lockhart Magic Books Inventory 12/31 6,489.11 1846 Dudley Pastries Catering for office Christmas party 1/15 6,300.00 1847 Weasley's Wands Inventory 12/28 6,400.55 1848 Rowlin' Enterprises Trademark 1/1 10,000.00 1849 McGonagall Veterinary Supplies Inventory 12/23 4,590.60 1850 Nicholas Fancy Headwear Inventory 12/29 51,268.62 1851 Weasley's Wands Inventory 12/31 6,400.55 1852 Hermione's Hats Inventory 12/02 2,167.76 1853 Lockhart Magic Books Inventory 12/31 5,932.89 1854 Hagrid Cleaning Service November monthly cleaning 12/15 4,32243 1855 Malfoy Financial Consultants Professional services 1/28 13,888.56 Required b. Prepare an adjusting journal entry to correct accounts payable. Potter's maintains perpetual inventory records, and the inventory was counted and adjusted on December 31.
Expert Answer:
Answer rating: 100% (QA)
Unrecorded Liabilities for Potters Magic Shoppe Unrecorded Liabilities Hagrid Cleaning Services 5432... View the full answer
Related Book For
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
Posted Date:
Students also viewed these accounting questions
-
Search for Unrecorded Liabilities. The list of vouchers payable for Potter's Magic Shoppe at December 31 is as follows: Required: a. Prepare an audit plan for the audit of unrecorded liabilities for...
-
(optional) Question 8 of 9 Kingbird & Sons Ltd. Accustart Co. Vaughn Ltd. Sales revenue $458,000 $807,000 $978,000 Cost of goods sold 235,000 420,000 550,000 Depreciation expense 40,000 75,000 85,000...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
Is there more to marketing than building product and brand awareness than what people discuss? How do marketing managers and executives manage consistent messaging across cultures?
-
How are disputes between different domain-name claimants resolved?
-
At birth, boys are slightly more common than girls. Test the hypothesis that 55% of births are boys. Consider a couple that has seven boys and one girl in a family of eight
-
Golf Holdings has two divisions: Alpha and Bravo. Alpha has a variable cost of sales of \($11\) per unit, which is its transfer price to Bravo. However, Alpha can sell its product on the open market...
-
1. How did Dansko's founder Peter Kjellerup's Danish heritage affect the development of Dansko's shoe line and its commitment to ethics and social responsibility? 2. Why might employee ownership be a...
-
Prepare the schedule of cost of goods manufactured for Barton Company using the following information. Direct materials $ 207,500 Direct labor 66,000 Factory overhead costs 31,200 Work in process,...
-
A test to see if U.S. cardinals are significantly younger than cardinals worldwide produces a P -value that is considerably greater than 0.05. Based on this result, statistics students are asked to...
-
Sandra operates a craft sewing business, making $15,000 in gross income during the year. Her only costs are inventory. She begins the year with $6,000 in inventory items, and purchases $4,500 more...
-
Automaton, Inc. recently issued a $20 million par bond, which pays an annual coupon of 10%. What is the bond's yield-to-maturity if it currently trades at 92% of par value and matures in 10 years?
-
1. Estimate weekly or monthly usage of each household expenditure. A minimum of 40 items is required from various areas of spending including groceries, transportation and entertainment. (E.g....
-
Fill out the Special event template below. Directions : Conduct event-specific research to address the relevant areas of the outline. If some sections of the outline are not used, provide a brief...
-
40) Perla Company has projected cost of goods sold of P4,000,000 including fixed cost of P800,000. Variable costs are expected to be 75% of net sales. What will be the projected net sales?
-
Considering the negative press surrounding law enforcement, what can police agencies do to interest the right kinds of people in a law enforcement career? What can law enforcement agencies do to keep...
-
Horse serum containing specific antibody to snake venom has been a successful approach to treating snakebite in humans. How do you think this anti-venom could be generated? What are some advantages...
-
Why is the accounting function of a firm likely to be centralized? What aspects of the accounting function should be centralized?
-
The implication from the discussion in this chapter is that as a company becomes more global, it concentrates more on the informal and subtle mechanisms for controlling global operations than it does...
-
What role does MIS play? Do they have a chief information officer? Do they have a Web site? How in-depth do you consider it to be? You may wish to compare it with other sites.
Study smarter with the SolutionInn App