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.

1. Working Paper for Notes Payable

Note: Interest computations based on 365 days a year, rounded-off to the nearest peso amount. Do not copy the format of the reference.

Reference:

mm-umm-bw 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 A v e H | Working Paper Title Short-Term Notes Receivable Preparer Balance Sheet Date 1 2131 12020 Date Completed 211812021 Prepared By Client? No Reviewer Date Reviewed M Objective To verify that the notes receivable appearing on the balance sheet exist. FGG Company has rights to them. and their valuation is appropriate. Results of Procedures and Evidence Obtained Accrued Interest Customer's Name Interest Rate issue Date Maturi Date Face Amount 1213112020 Customer A 7% 1111712020 211912021 112,000.00 T, C 945.00 Customer B 9% 911512020 313012021 330,000.00 T, C 8,707.00 Customer C 10% 119120 511121 72,000.00 T, C 2,387.00 Customer D 8% 712412020 311812021 91,000.00 T, C 3,191.00 Customer E 9% 812112020 1111121 54,000.00 T, C 1,758.00 Customer F 11% 1013012020 412912021 95,000.00 T, C 1,775.00 Customer G 8% 1211512020 613012021 219 000.00 T, C 768.00 F. TB Tickmark Legend T Traced face amount, interest rate, issue and maturity dates to note receivable documents 0 Agreed to conrmation C Calculation checked and agreed F Footed TB Agreed to trial balance Conclusion Veried existence and rights by examining notes receivable document. Based on 100% conrmation and inquiry of controller (who confirmed collectibility of all accounts), valuation appears appropriate and no loss provision appears necessary