Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

State the evidence, which you, as the auditor, would like to find in place and pay attention to when vouching the following payments made by

State the evidence, which you, as the auditor, would like to find in place and pay attention to when vouching the following payments made by RR Paper Mills Ltd, during the financial year ended 31 October 2002
a) Loans to three employees totaling Sh. 6 million


b) The last call on 5, 000 ordinary shares at Sh, 15 per share.

c)Fire insurance premiums amounting to Sh. 10, 000 paid for the office block.

d) A loan amounting factory building to Sh. 30 million obtained from a local bank and secured by the

e) Salesmen's commissions amounting to Sh 3, 000, 000.

Step by Step Solution

3.52 Rating (155 Votes )

There are 3 Steps involved in it

Step: 1

The detailed answer for the above question is provided below a Evidence for Loans to Three Employees ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting and Reporting

Authors: Barry Elliott, Jamie Elliott

18th edition

1292162406, 978-1292162409

More Books

Students also viewed these Accounting questions