Business > QUESTIONS & ANSWERS > Analytics Mindset TechWear.P4[2022/2023] VERIFIED (All)
Analytics Mindset TechWear.P4[2022/2023] VERIFIED
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Analytics Mindset TechWear Part IV 1. Verify that every sales transaction has a shipping number and FedEx identification number. Identify and quantify any sales that have not been shipped (includin... g names of customers and transaction numbers). Propose any necessary audit adjustment. _ Based on this we notice, there are many transactions have been posted without shipping number and FedEx identification number. However, the Supervisor said that the sales transaction only posted after the shipping clerk enters the shipping number and FedEx identification number. So, they need to debit the sales and credit account receivable. Adjustment Entry: Sales 1,751,912 Accounts Receivable 1,751,912 2. Verify that every shipping number has a recorded sales transaction. Identify and quantify the cost of sales for products shipped without a sale being recorded (including names of customers and transaction numbers). Propose any necessary audit adjustment. [Show More]
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