apollo shoes case study 4

2747 words 11 pages
Audit plan – Accounts Receivable and Notes Receivable
Audit Procedures
Audit
Objectives
W/P Ref.
Initials
Comments
Accounts Receivable
1. Obtain an aged trial balance of individual customer accounts. Recalculate the total and trace to the general ledger control account.
2. Review the aging for large and unusual items.
3. Send confirmations to all accounts over $X. Select a random sample of all remaining accounts for confirmation.
a.i.1.a.i.1.a. Investigate exceptions reported by customers.
a.i.1.a.i.1.b. Perform alternative procedures on accounts that do not respond to positive confirmation requests.
a.i.1.a.i.1.b.i. Vouch cash receipts after the confirmation date for subsequent payment.
a.i.1.a.i.1.b.ii. Vouch sales
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5
P

$2,165,500.55

C-4 $2,165,500.55

Shoe Shack
$3,013,152.09
$730,588.25
N

$730,588.25

C-4 $730,588.25

Tread
C-2-5$3,091,017.74
C-2-5$1,388.75
N

$1,388.75

Mall-Wart
C-2-3$122,826,158.60
C-2-3$20,549,225.88
P

$5,765,081.85

$14,784,144.03

Wall of Shoes
$3,315,585.60
$9,582.25
N

$9,582.25

Trenchfoot
$3,325,046.93
$85,534.25
N

$85,534.25

C-4 $85,534.25

Shack's Shoe Shine
$3,017,205.21
$4,952.77
N

$4,952.77

C-4 $3,000.00

Imelda's Closet
$2,942,005.95
$96,452.11
N

$96,452.11

C-4 $96,452.11

Hip Hop Shoes
$695,542.21
$695,542.21
N

$695,542.21

C-4 $695,542.21

International Soccer Federation
C-2-8$3,228,779.92
C-2-8$1,222,359.56
P

$1,222,359.56

C-4 $1,222,359.56

Eight East
$3,173,304.14
$45,258.22
N

$45,258.22

C-4 $45,258.22

Company B
$1,063,564.85
$63,258.65
N

$63,258.65

Feet Lamour
$1,151,561.90
$385,241.02
N

$385,241.02

C-4 $385,241.02

Walk About
$3,015,119.00
$932,653.33
N

$932,653.33

C-4 $932,653.33

Neutralizer
C-2-2$3,051,755.48
C-2-2$3,051,755.48
P

($1,388.75)
$3,053,144.23

C-4 $3,053,144.23

Doug's Shoes
$3,211,903.23
$2,648.75
N

$2,648.75

C-4 $2,648.75

Custom Shoes
$575,619.27
$5,996.13
N

$5,996.13

C-4

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