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Callouts Determination 1. ...although pass adjustment due to immateriality. 2. No adjusting entry is needed as of 12/31/year 5. 3. The comment is a boilerplate
Callouts Determination 1. "...although pass adjustment due to immateriality." 2. "No adjusting entry is needed as of 12/31/year 5." 3. "The comment is a "boilerplate" disclaimer of liability that definitely does not affect the reliability of the information we obtained." 4. "The deposit in transit seems properly handled on the bank reconciliation (Exhibit 2) with a debit to cash." 5. "This is because it was not written until 1/1/year 6." 6. "...be deleted from the outstanding check list; no adjusting journal entry seems necessary." 7. "No further audit response is necessary related to check 2027." 8. "Check 2032 appears to result in the cash being recorded in both accounts per books as of year-end and thus overstates total cash by $1,500 at year-end
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