Search for Unrecorded Liabilities. The list of vouchers payable for Potter's Magic Shoppe at December 31 is as follows: 11eb6aae_6da3_89f3_acf4_a3d97bfbfcfc_SM1539_00 Checks written in the following January are: 11eb6aae_6da3_b104_acf4_2feafb79c6fd_SM1539_00 Required: a. Prepare an audit plan for the audit of unrecorded liabilities for Potter's Magic Shoppe. b. Prepare an adjusting journal entry to correct accounts payable. Potter's maintains perpetual inventory records and the inventory was counted and adjusted on December 31.

Auditing & Assurance Services 6th Edition by Timothy Louwers

Edition 6ISBN: 978-0077862343

Auditing & Assurance Services 6th Edition by Timothy Louwers

Edition 6ISBN: 978-0077862343

Exercise 58

Search for Unrecorded Liabilities. The list of vouchers payable for Potter's Magic Shoppe at December 31 is as follows:

Checks written in the following January are:

Required:
a. Prepare an audit plan for the audit of unrecorded liabilities for Potter's Magic Shoppe.
b. Prepare an adjusting journal entry to correct accounts payable. Potter's maintains perpetual inventory records and the inventory was counted and adjusted on December 31.

Explanation

Verified

Audit Plan is the foremost step taken by...