8.58: Search for Unrecorded Liabilities. The list of vouchers Shoppe at December 31 is as follows: Vendor Invoice Date Amount Hagrid Cleaning Services 11/15 4,322.43 Hermione’s Hats 12/02 2,167.76 Lockhart Magic Books 12/31 6,489.11 Malfoy Financial Consultants 12/28 23,752,63 McGonagall Veterinary Supplies 12/23 4,590.60 Moaning Myrtle’s Mystical Capes 10/14 11,529.88 Nicholas Fancy Headwear 12/29 51,268.62 Snape’s Snakes 12/28 36,152,45 Wesley’s Wands 12/28 6,400.55 Hogwart’s Rentals 12/15 53,000.00 Total Vouchers Payable 199,674.03 Checks written in the following January are: Check Payee Description Invoice Date Amount 1842 Malfoy Financial Consultants Professional Services 12/28 23,752.63 1843 Hagrid Cleaning Services October cleaning 11/15 4,322.43 1844 Hogwart’s Rentals January rent 12/15 53,000.00 1845 Lockhart Magic Books Inventory 12/31 6,489.11 1846 Dudley Pastries Catering for office Christmas party 1/15 6,300.00 1847 Weasley’s Wands Inventory 12/28 6,400.55 1848 Rowlin’ Enterprises Trademark 1/1 10,000.00 1849 McGonagall Veterinary Supplies Inventory 12/23 4,590.60 1850 Nicholas Fancy Headwear Inventory 12/29 51,268.62 1851 Weasley’s Wands Inventory 12/31 6,400.55 1852 Hermione’s Hats Inventory 12/02 2,167.76 1853 Lockhart Magic Books Inventory 12/31 5,932.89 1854 Hagrid Cleaning Service November cleaning 12/15 4,322.43 1855 Malfoy Financial Consultants Professional Services 1/28 13,888.56 Prepare an audit plan for the audit of unrecorded liabilities for Potter’s Magic Shoppe. 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.

8.58: Search for Unrecorded Liabilities. The list of vouchers Shoppe at December 31 is as follows: Vendor Invoice Date Amount Hagrid Cleaning Services 11/15 4,322.43 Hermione’s Hats 12/02 2,167.76 Lockhart Magic Books 12/31 6,489.11 Malfoy Financial Consultants 12/28 23,752,63 McGonagall Veterinary Supplies 12/23 4,590.60 Moaning Myrtle’s Mystical Capes 10/14 11,529.88 Nicholas Fancy Headwear 12/29 51,268.62 Snape’s Snakes 12/28 36,152,45 Wesley’s Wands 12/28 6,400.55 Hogwart’s Rentals 12/15 53,000.00 Total Vouchers Payable 199,674.03 Checks written in the following January are: Check Payee Description Invoice Date Amount 1842 Malfoy Financial Consultants Professional Services 12/28 23,752.63 1843 Hagrid Cleaning Services October cleaning 11/15 4,322.43 1844 Hogwart’s Rentals January rent 12/15 53,000.00 1845 Lockhart Magic Books Inventory 12/31 6,489.11 1846 Dudley Pastries Catering for office Christmas party 1/15 6,300.00 1847 Weasley’s Wands Inventory 12/28 6,400.55 1848 Rowlin’ Enterprises Trademark 1/1 10,000.00 1849 McGonagall Veterinary Supplies Inventory 12/23 4,590.60 1850 Nicholas Fancy Headwear Inventory 12/29 51,268.62 1851 Weasley’s Wands Inventory 12/31 6,400.55 1852 Hermione’s Hats Inventory 12/02 2,167.76 1853 Lockhart Magic Books Inventory 12/31 5,932.89 1854 Hagrid Cleaning Service November cleaning 12/15 4,322.43 1855 Malfoy Financial Consultants Professional Services 1/28 13,888.56 Prepare an audit plan for the audit of unrecorded liabilities for Potter’s Magic Shoppe. 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.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 1PB: On June 30, Isner Inc.s bookkeeper is preparing to close the books for the month. The accounts...

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8.58: Search for Unrecorded Liabilities.

The list of vouchers Shoppe at December 31 is as follows:

Vendor	Invoice Date	Amount
Hagrid Cleaning Services	11/15	4,322.43
Hermione’s Hats	12/02	2,167.76
Lockhart Magic Books	12/31	6,489.11
Malfoy Financial Consultants	12/28	23,752,63
McGonagall Veterinary Supplies	12/23	4,590.60
Moaning Myrtle’s Mystical Capes	10/14	11,529.88
Nicholas Fancy Headwear	12/29	51,268.62
Snape’s Snakes	12/28	36,152,45
Wesley’s Wands	12/28	6,400.55
Hogwart’s Rentals	12/15	53,000.00
Total Vouchers Payable		199,674.03

Checks written in the following January are:

Check	Payee	Description	Invoice Date	Amount
1842	Malfoy Financial Consultants	Professional Services	12/28	23,752.63
1843	Hagrid Cleaning Services	October cleaning	11/15	4,322.43
1844	Hogwart’s Rentals	January rent	12/15	53,000.00
1845	Lockhart Magic Books	Inventory	12/31	6,489.11
1846	Dudley Pastries	Catering for office Christmas party	1/15	6,300.00
1847	Weasley’s Wands	Inventory	12/28	6,400.55
1848	Rowlin’ Enterprises	Trademark	1/1	10,000.00
1849	McGonagall Veterinary Supplies	Inventory	12/23	4,590.60
1850	Nicholas Fancy Headwear	Inventory	12/29	51,268.62
1851	Weasley’s Wands	Inventory	12/31	6,400.55
1852	Hermione’s Hats	Inventory	12/02	2,167.76
1853	Lockhart Magic Books	Inventory	12/31	5,932.89
1854	Hagrid Cleaning Service	November cleaning	12/15	4,322.43
1855	Malfoy Financial Consultants	Professional Services	1/28	13,888.56

Prepare an audit plan for the audit of unrecorded liabilities for Potter’s Magic Shoppe.
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.

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