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As auditor of the Star Manufacturing Company, you have obtained a trial balance taken from the books of Star one month before year-end: 3: (Click
As auditor of the Star Manufacturing Company, you have obtained a trial balance taken from the books of Star one month before year-end: 3: (Click the icon to view the trial balance.) There are no inventories consigned either in or out. All notes receivable are due from outsiders and held by Star. Requirement Which accounts should be confirmed with outside sources? Briefly describe from whom they should be confirmed and the information that should be confirmed. (To identify the information to be confirmed, select the best choice from the list of A-N below. Assume significant individual transactions occurred in each sales and expense category.) i (Click the icon to view the choice for "information to be confirmed".) From Whom Information to Be Confirmed Account Name Confirmed Information to Be Confirmed z3rac - Inmonop Data Table Cash in bank $ $ Trade accounts receivable Notes receivable Inventories Dr. (Cr.) 87,000 Mortgages payable 345,000 Capital stock 125,000 Retained earnings 317,000 Sales 66,000 Cost of sales 350,000 General and administrative expenses 325,000|Legal and professional fees (235,000)|Interest expense Dr. (Cr.) (400,000) (300,000) (510,000) (3,130,000) 2,300,000 622,000 3,000 35,000 Land Buildings, net Furniture, fixtures, and equipment, net Trade accounts payable Print Done
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