Potter's Magkc Shoppe Nama: FYE December 31 P 8.58 Voucher Payable account Vendor Amount Invoice Date Hagrid Cleaning Services Hermione's Hats Lockhart Magic Books Malfoy Financial Consultants McGonagall Veterinary Supplies 23-Dec Moaning Myrtle's Mystical Capes 14-Oct Nicholas Fancy Headwear Snape's Snakes Weasley's Wands Hogwart's Rentals Total Vouchers Payable $ 4,322.43 $ 2,167.76 $ 6,489.11 $ 23,752.63 $ 4,590.60 $ 11,529.88 $ 51,268.62 S 36,152.45 15-Nov 2-Dec 31-Dec 28-Dec 29-Dec 28-Dec 28-Dec $ 6,400.55 53,000.00 $199,674.03 15-Dec Cash Disbursements made in January Check 1842 Malfoy Financial Consultants 1843 Hagrid Cleaning Services 1844 Hogwart's Rentals 1845 Lockhart Magic Books 1846 Dudley Pastries 1847 Weasley's Wands 1848 Rowlin's Enterprises 1849 McGonagall Veterinary Supplies Inventory 1850 Nicholas Fancy Headwear 1851 Weasley's Wands 1852 Hermione's Hats 1853 Lockhart Magic Books 1854 Hagrid Cleaning Services 1855 Malfoy Financial Consultants Payee Description Invoice Date Amount $23,752.63 Professional services 28-Dec October monthly cleaning 15-Nov 4322.43 January rent Inventory Catering for Christmas party Inventory Trademark $53,000.00 S 6,489.11 $ 6,300.00 $ 6,400.55 15-Dec 31-Dec 15-Jan 28-Dec $10,000.00 $ 4,590.60 $51,268.62 1-Jan 23-Dec Inventory Inventory Inventory Inventory November Monthly cleaning Professional services 29-Dec $ 6,400.55 31-Dec 2-Dec 2,167.76 |$ 5,932.89 31-Dec 15-Dec 4,322.43 $13,888.56 28-Jan Tickmark Legend: Proposed Entries Ties to Voucher payable at 12/31 Ties to Cash payment made in Jan No effect on 12/31 FS Unrecorded liability, Paid in lan Unrecorded liability, not paid Recalculated Audit plan . 1. Obtain a trial balance of recorded accounts payable as of year-end and vouch to receiving reports to 2. Select a sample of cash disbursements from the accounting period following the balance-sheet date Vouch disbursements to supporting documents (invoice, receiving report) to determine whether the 3. Send confirmations (a) to creditors with small or zero balances (b) to creditors with whom the company has done significant business 3. Inquire of client personnel about their procedures for ensuring that all liabilities are recorded 4. Obtain a list of unmatched vendor invoices and review receiving reports to identify when the goods 5. Trace the unmatched receiving reports to accounts payable, and determine whether items recorded in the next accounting period need to be adjusted. 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 . Potter's Magkc Shoppe Nama: FYE December 31 P 8.58 Voucher Payable account Vendor Amount Invoice Date Hagrid Cleaning Services Hermione's Hats Lockhart Magic Books Malfoy Financial Consultants McGonagall Veterinary Supplies 23-Dec Moaning Myrtle's Mystical Capes 14-Oct Nicholas Fancy Headwear Snape's Snakes Weasley's Wands Hogwart's Rentals Total Vouchers Payable $ 4,322.43 $ 2,167.76 $ 6,489.11 $ 23,752.63 $ 4,590.60 $ 11,529.88 $ 51,268.62 S 36,152.45 15-Nov 2-Dec 31-Dec 28-Dec 29-Dec 28-Dec 28-Dec $ 6,400.55 53,000.00 $199,674.03 15-Dec Cash Disbursements made in January Check 1842 Malfoy Financial Consultants 1843 Hagrid Cleaning Services 1844 Hogwart's Rentals 1845 Lockhart Magic Books 1846 Dudley Pastries 1847 Weasley's Wands 1848 Rowlin's Enterprises 1849 McGonagall Veterinary Supplies Inventory 1850 Nicholas Fancy Headwear 1851 Weasley's Wands 1852 Hermione's Hats 1853 Lockhart Magic Books 1854 Hagrid Cleaning Services 1855 Malfoy Financial Consultants Payee Description Invoice Date Amount $23,752.63 Professional services 28-Dec October monthly cleaning 15-Nov 4322.43 January rent Inventory Catering for Christmas party Inventory Trademark $53,000.00 S 6,489.11 $ 6,300.00 $ 6,400.55 15-Dec 31-Dec 15-Jan 28-Dec $10,000.00 $ 4,590.60 $51,268.62 1-Jan 23-Dec Inventory Inventory Inventory Inventory November Monthly cleaning Professional services 29-Dec $ 6,400.55 31-Dec 2-Dec 2,167.76 |$ 5,932.89 31-Dec 15-Dec 4,322.43 $13,888.56 28-Jan Tickmark Legend: Proposed Entries Ties to Voucher payable at 12/31 Ties to Cash payment made in Jan No effect on 12/31 FS Unrecorded liability, Paid in lan Unrecorded liability, not paid Recalculated Audit plan . 1. Obtain a trial balance of recorded accounts payable as of year-end and vouch to receiving reports to 2. Select a sample of cash disbursements from the accounting period following the balance-sheet date Vouch disbursements to supporting documents (invoice, receiving report) to determine whether the 3. Send confirmations (a) to creditors with small or zero balances (b) to creditors with whom the company has done significant business 3. Inquire of client personnel about their procedures for ensuring that all liabilities are recorded 4. Obtain a list of unmatched vendor invoices and review receiving reports to identify when the goods 5. Trace the unmatched receiving reports to accounts payable, and determine whether items recorded in the next accounting period need to be adjusted. 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