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Selkirk Company gets a $15,000 note receivable from a customer on 1st January, 2013. The note, along with interest at 10 percent, is due on 1st July, 2013. On 28th February, 2013, Selkirk discounted the note at Unionville Bank. The bank's discount rate is 12 percent. Required: Prepare journal entries required on 28th February, 2013, to accrue interest and to record the discounting for Selkirk. Suppose that the discounting is accounted for as a sale. (If no entry is required for a particular transaction, select "No journal entry required" in first account field.) Find the accrued interest earned. Find the discounting of note receivable.
Why might planning materiality differ from the materiality level used in evaluating audit findings? What official quantitative guidelines exist for financial statement materiality? Identify one of the quantitative guidelines commonly used in practi..
Prepare a research memo for auditing
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carl had the subsequent transactions for 2010. salary 55000 damage award compensatory for city bus accident 20000 loss
You must upload copies of MS PowerPoint slides in the moodle. These form the evidence of your presentation and you will not be eligible for a competent grade if you have not supplied them.
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Prepare a correct bank reconciliation( Hint: Deduct the amount of the theft from the adjusted balance per books).
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