Instructions:

a. Prepare Working Paper for each FS account containing salient information to properly analyze the account (use proper column headings)

b. Copy the format of the sample template. Contents of the WP should be as realistic as possible.

c. Property, Plant, and Equipment 

Transcribed Image Text:

1 23456234 10 11 12 13 14 15. 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 Client Name Working Paper Title Balance Sheet Date Prepared By Client? J No Customer C Customer D Customer E Customer F Customer G FGG Company Short-Term Notes Receivable 12/31/2020 Results of Procedures and Evidence Obtained Tickmark Legend Customer's Name Interest Rate Customer A Customer B 7% 9% 3 Objective To verify that the notes receivable appearing on the balance sheet exist. FGG Company has rights to them, and their valuation is appropriate. 10% 8% 9% 11% 8% Issue Date 11/17/2020 9/15/2020 1/9/2020 7/24/2020 8/21/2020 10/30/2020 12/15/2020 E F Footed TB Agreed to trial balance Maturity Date 2/19/2021 3/30/2021 5/1/2021 3/18/2021 11/1/2021 Working Paper # Preparer Date Completed Reviewer Date Reviewed 4/29/2021 6/30/2021 Face Amount 112,000.00 2 T, C T, C 330,000.00 72,000.00 T, C 91,000.00 54,000.00 T, C T, C 95,000.00 T, C T, C 219,000.00 973.000.00 F.TB I EX-2 Member 2/18/2021 Leader 2/25/2021 Accrued Interest 12/31/2020 945.00 8,707.00 C 2,387.00 3,191.00 C 1,758.00 C 1,775.00 C 768.00 C 19.531.00 F. TB T Traced face amount, interest rate, issue and maturity dates to note receivable documents C Agreed to confirmation C Calculation checked and agreed Conclusion Verified existence and rights by examining notes receivable document. Based on 100% confirmation and inquiry of controller (who confirmed collectibility of all accounts), valuation appears appropriate and no loss provision appears necessary. 1 23456234 10 11 12 13 14 15. 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 Client Name Working Paper Title Balance Sheet Date Prepared By Client? J No Customer C Customer D Customer E Customer F Customer G FGG Company Short-Term Notes Receivable 12/31/2020 Results of Procedures and Evidence Obtained Tickmark Legend Customer's Name Interest Rate Customer A Customer B 7% 9% 3 Objective To verify that the notes receivable appearing on the balance sheet exist. FGG Company has rights to them, and their valuation is appropriate. 10% 8% 9% 11% 8% Issue Date 11/17/2020 9/15/2020 1/9/2020 7/24/2020 8/21/2020 10/30/2020 12/15/2020 E F Footed TB Agreed to trial balance Maturity Date 2/19/2021 3/30/2021 5/1/2021 3/18/2021 11/1/2021 Working Paper # Preparer Date Completed Reviewer Date Reviewed 4/29/2021 6/30/2021 Face Amount 112,000.00 2 T, C T, C 330,000.00 72,000.00 T, C 91,000.00 54,000.00 T, C T, C 95,000.00 T, C T, C 219,000.00 973.000.00 F.TB I EX-2 Member 2/18/2021 Leader 2/25/2021 Accrued Interest 12/31/2020 945.00 8,707.00 C 2,387.00 3,191.00 C 1,758.00 C 1,775.00 C 768.00 C 19.531.00 F. TB T Traced face amount, interest rate, issue and maturity dates to note receivable documents C Agreed to confirmation C Calculation checked and agreed Conclusion Verified existence and rights by examining notes receivable document. Based on 100% confirmation and inquiry of controller (who confirmed collectibility of all accounts), valuation appears appropriate and no loss provision appears necessary.

Answer rating: 100% (QA)

KimberlyClark Profit Love Alc 31st March 2021 31st March 2021 Amount 150000 Der Particula... View the full answer