Question
Problem 5-3A Big Box Store is located in midtown Madison. During the past several years, net income has been declining because of suburban shopping centers.
Problem 5-3A
Big Box Store is located in midtown Madison. During the past several years, net income has been declining because of suburban shopping centers. At the end of the companys fiscal year on November 30, 2017, the following accounts appeared in two of its trial balances.
| Unadjusted | Adjusted | Unadjusted | Adjusted | |||||||
| Accounts Payable | $ 25,200 | $ 25,200 | Notes payable | $35,500 | $35,500 | |||||
| Accounts Receivable | 30,500 | 30,500 | Owners Capital | 90,200 | 90,200 | |||||
| Accumulated Depr.Equipment | 33,000 | 44,000 | Owners Drawings | 9,500 | 9,500 | |||||
| Cash | 26,000 | 26,000 | Prepaid Insurance | 10,900 | 3,500 | |||||
| Cost of Goods Sold | 508,500 | 508,500 | Property Tax Expense | 2,500 | ||||||
| Freight-Out | 5,500 | 5,500 | Property Taxes Payable | 2,500 | ||||||
| Equipment | 145,500 | 145,500 | Rent Expenses | 15,000 | 15,000 | |||||
| Depreciation Expense | 11,000 | Salaries and Wages Expense | 96,000 | 96,000 | ||||||
| Insurance Expense | 7,400 | Sales Revenue | 720,000 | 720,000 | ||||||
| Interest Expense | 6,100 | 6,100 | Sales Commissions Expense | 6,500 | 11,000 | |||||
| Interest Revenue | 2,100 | 2,100 | Sales Commissions Payable | 4,500 | ||||||
| Inventory | 29,500 | 29,500 | Sales Returns and Allowances | 8,000 | 8,000 | |||||
| Utilities Expense | 8,500 | 8,500 |
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The Fraud Audit Responding To The Risk Of Fraud In Core Business Systems
Authors: Leonard W. Vona
1st Edition
0470647264, 978-0470647264
