Callouts Determination 1. ...although pass adjustment due to immateriality. Retain the original text. Replace with We...

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Callouts Determination 1. "...although pass adjustment due to immateriality." Retain the original text. Replace with "We should propose an adjusting entry as of 12/31/year 5 debiting cash and crediting miscellaneous revenues as net income is understated as of 12/31/year 5." 4.09 points 2. "No adjusting entry is needed as of 12/31/year 5." 3. "The comment is a "boilerplate" disclaimer of liability that definitely does not affect the reliability of the information we obtained." eBook References 4. "The deposit in transit seems properly handled on the bank reconciliation (Exhibit 2) with a debit to cash." Retain the original text. 5. "This is because it was not written until 1/1/year 6." Delete entire point 5. 6. "...be deleted from the outstanding check list; no adjusting journal entry seems necessary." 7. "No further audit response is necessary related to check 2027." Delete entire point 7. 8. "Check 2032 appears to result in the cash being recorded in both accounts per books as of year-end and thus overstates total cash by $1,500 at year-end." Retain the original text. Callouts Determination 1. "...although pass adjustment due to immateriality." Retain the original text. Replace with "We should propose an adjusting entry as of 12/31/year 5 debiting cash and crediting miscellaneous revenues as net income is understated as of 12/31/year 5." 4.09 points 2. "No adjusting entry is needed as of 12/31/year 5." 3. "The comment is a "boilerplate" disclaimer of liability that definitely does not affect the reliability of the information we obtained." eBook References 4. "The deposit in transit seems properly handled on the bank reconciliation (Exhibit 2) with a debit to cash." Retain the original text. 5. "This is because it was not written until 1/1/year 6." Delete entire point 5. 6. "...be deleted from the outstanding check list; no adjusting journal entry seems necessary." 7. "No further audit response is necessary related to check 2027." Delete entire point 7. 8. "Check 2032 appears to result in the cash being recorded in both accounts per books as of year-end and thus overstates total cash by $1,500 at year-end." Retain the original text.

Answer rating: 100% (QA)

Solution 1 Retain the original text 2 Replace with We should propose an adjusting entry as of 1231ye... View the full answer