Auditing hmwk 2

Auditing hmwk 2 - Arayawna [email protected] Auditing I...

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Arayawna Moore @02585360 Auditing I 10/22/10 CHAPTER 6 6-19 A.2 B.2 C.1 6-20 A.1 B.2 C.1 6-24 A. Cycle Balance Sheet Accounts Income Statement Accounts Sales & Collection Accounts receivable Cash Notes receivable--trade Allowance for doubtful accounts Interest receivable Sales Bad debt expense Interest income Acquisition & Payment Income tax payable Accounts payable Unexpired insurance Furniture and equipment Cash Accumulated depreciation of furniture and equipment Inventory Property tax payable Income tax expense Advertising expense Travel expense Purchases Property tax expense Depreciation expense— furniture and equipment Telephone and fax expense Insurance expense Rent expense Payroll & Personnel Cash Accrued sales salaries Sales salaries expense Salaries, office and general Inventory & Warehousing Inventory Purchases
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Capital acquisition & Repayment Bonds payable Common stock Cash Notes payable Retained earnings Prepaid interest expense Interest expense B. The general ledger accounts in the trial balance will most likely not differ much between a retail store and a wholesale company; however, only if there are departments for which there are many categories. There would most likely be huge differences for a hospital or governmental unit. A governmental unit would use a fund accounting system
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Auditing hmwk 2 - Arayawna [email protected] Auditing I...

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