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You are engaged to perform an audit of the Giordani Corporation for the year ended December 31, 2021, You have decided to perform the following

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You are engaged to perform an audit of the Giordani Corporation for the year ended December 31, 2021, You have decided to perform the following cutoff test for payobles and accruais, Select all items greater than $25,000 for fwo business days before and affer yoor. end from the purchases jouthal and ensure that alf transactions are recorded in the proper perlod. During your firm's observation of Giordani's physical inventory you obtained the following cutoff information: the tast recelving report number in 2021 was 49745. Yout audit work identified the following items for further investigation: Required: For each of the six items provided in the table above, consider whether there is evidence of proper cutolf of payables and accruals the, the transaction is recorded in the proper period). If the item is not properly recorded, prepare the necessary adjusting entries at December 31.2021 Note: If no entry is required for a transaction/event, select "No journat entry required" in the first account field. Journal entry worksheet 4 5 6 Record the purchase of chemicals for manufacturing process for $29,875 received before December 31,2021 recorded in the purchases journal on 12/30. Note: Enter debits before credits. Journal entry worksheet 6 Record the payment of $45,000 for consulting services for the three-month period beginning December 1, 2021. The entire amount was charged to consulting expenses. Note: Enter debits before credits. Journal entry worksheet Record the $205,000 raw materials used in the manufacturing process received before December 31,2021 recorded in purchases journal on 12/31. Note: Enter debits before credits. Journal entry worksheet Record the purchase of a new forklift for $75,985 received in 2022 recorded in purchases journal on 1/01. Note: Enter deblts before credits. Journal entry worksheet Record the $42,000 paper products used in manufacturing ptocess received in December 2021 recorded in purchases journal on 1/02. Note: Enter debits before credits. Journal entry worksheet Record the $32,450 telephone bill for the month of December, 2021. Note: Enter debits before credits

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