Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 5) the auditors of mikel's shops obtained the foll

5) The auditors of Mikel's Shops obtained the following information when performing cutoff testing procedures...

90.2K

Verified Solution

Question

Accounting

5) The auditors of Mikel's Shops obtained the following information when performing cutoff testing procedures during their observation of Mikel's physical inventory count at December 31, 2011

When comparing the cutoff information to the sales records, the auditors found that all these shipments were recorded as 2011 sales. The goods shipped on bills of lading 1235 and 1236 were not counted in the inventory, but the goods on bill of lading 1237 and 1238 were included.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

b)Discuss how decision making may well be influenced by a number of internal or external environmental...

Operations Management
Q

Which of the theorists’ views from the list below is most similar to Freud’s theories? Which...

Psychology
Q

This week in the Discussion module you will be looking into the use of social...

Biology
Q

Through skin absorption Only by injection Inhalation Just by looking at it QUESTION 2 Why...

Biology
Q

YA 2 0 2 y f x 4 6 f where does F have a...

Geometry
Q

Find an equation of the tangent line to the curve at the given point y...

Calculus
Q

El 30 de septiembre, Emerald Travel tiene RM540.250 de cuentas por cobrar. Emerald utiliza el...

Accounting
Q

Tito Gonzales, controller, gathered the following information from the accounting records: ...

Accounting
Q

On January 1, 2013, Smith Co. had the following balances: Projected benefit obligation 4,200,000 Fair...

Accounting
Q

Explain the difference between the primary and secondary markets. What roles do banks play in...

Finance
Q

This year, Sooner Company reports a deficit in current E\&P of ($368,000). Its accumulated E\&P...

Accounting
Q

Assume a firm is financed with 60% debt on which it pays interest of 10%....

Finance