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Determine balance that should be included in young accounts

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Reference no: EM131773744

Problem - Below is a statement reconciling the balance on Young's payable sub-ledger to the balance on one of their supplier's statements?

Balance per Young's subledger                      $ 8,145

Inv #23430 - note 1                                        3,500

Inv #20820 - note 2                                        630

Payment - note 3                                            4,355

Balance per supplier statement                        16,630

NOTES:

(1) Inv#23430 is included on the supplier's statement, but Young does not have it included in the sub-ledger 

(2) Inv#20820 is listed as $4,180 on Young's sub-ledger and listed as $4,810 on the supplier's statement

(3) This payment is included on Young's subledger, but is not included on the supplier's statement.

Required: Describe the audit work you will carry out on each of the reconciling items to determine the balance that should be included in Young's accounts payable on their financial statements.

Reference no: EM131773744

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