Question
In connection with her audit of the financial statements of Kusaila, Inc. for the year ended December 31, 20X3, Alexander Daniels, CPA, is aware that
In connection with her audit of the financial statements of Kusaila, Inc. for the year ended December 31, 20X3, Alexander Daniels, CPA, is aware that certain events and transactions that have taken place after December 31, 20X3, but before he has issued his report dated February 28, 20X4, may affect the companys financial statements.
The following MATERIAL events or transactions have come to his attention. For each of the subsequent events, indicate whether they should result in:
Adjustment an adjusting entry as of 20X3.
Disclosure Note disclosure as of 20X3.
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