Unformatted text preview: incorrectly extended inventory, for which I proposed a $2,650 adjustment. The Company is liable to Big City National Bank for an unsecured note in the amount of $125,000. The note, which is due April 30, 2003, has been disclosed in the footnotes. No contingent liabilities were observed. It is my opinion that the accompanying draft of the client's financial statements is in accordance with generally accepted accounting principles with proper disclosure and that we may issue the unqualified opinion as shown in the accompanying draft of the audit report. Jasper W. Parsons Audit Senior February 7, 2003 15...
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- Spring '14
- Balance Sheet, Auditor's report, Apple Blossom Cologne Company