CASH

1. Prove mathematical accuracy of:

a. Cash receipts books – The amounts in the cash receipts have been vouched from
the amounts given in the book to the supporting documents. Though there were
incorrect computations in the accounts receivable, the total cash received per cash
receipts book is accurate.
b. Cash disbursements books- The amounts in the cash disbursements book have been
vouched from the amounts given to the supporting documents. The total cash
disbursed per cash disbursements book is accurate.
2. Trace postings from CRB and CDB to the general ledger. – Total amount of Cash in Bank
per general ledger should be ₱ 4,709,230.00
3. Vouch the official receipts supporting CRB – there were unrecorded receipts (OR# 118,
119, 120, 121 and 122)
4. Vouch cash vouchers supporting CDB – there were unrecorded disbursements ( CV# 322)
5. Vouch postings in the cash accounts other than those from the CRB and CDB
6. Conduct a cash count; Have it acknowledged by the cash custodian.

Grace Corporation
Cash
Janurary 5, 2017
Denomination Quantity Amount Total
Bills PHP 500.00 1 PHP 500.00
PHP 200.00 1 PHP 200.00
PHP 100.00 2 PHP 200.00
PHP 50.00 3 PHP 150.00
PHP 20.00 5 PHP 100.00 PHP 1,150.00
Coins PHP 10.00 9 PHP 90.00
PHP 5.00 20 PHP 100.00
PHP 1.00 60 PHP 60.00
PHP 0.10 40 PHP 4.00 PHP 254.00
Total Bills & Coins PHP 1,404.00

Cash Items
Checks for Deposit
Date Number OR Drawer Amount Total
12/28/17 PCIB Check# 2255 118 Louie Tan ₱484,000.00
FEBTC Check#
12/30/17 119 Eagle Contractors 165,550.00
408
 Dynasty
12/20/17 PNB Check# 1122 120 186,250.00
Construction
Benitez
12/31/17 PCIB Check# 4425 121 93,750.00
Merchandising
FEBTC Check#
12/31/17 122 Susan de Leon 204,475.00
775
01/03/18 PNB Check# 203 123 Luli Samson 29,725.00 ₱1,163,750.00

Cash Items
Unreplenished Vouchers
Date Payee Particulars Amount Total
12/10/17 Luigi’s Deli Representation Exp. ₱2,000.00
Mobishel Gasoline
12/10/17 Gasoline Exp. 2,050.00
Station
12/18/17 Mr. Jose Castro Transportation Exp. 250.00
Manila Water
12/20/17 Workds & Water Bill 500.00
Sewerage System
12/21/17 Bureau of Posts Stamps 150.00
Mobishel Gasoline
12/29/17 Gasoline Exp. 2,550.00 ₱7500.00
Station
Cash Items
Advances or IOU’s
Date Payee PCV Amount Total
12/29/17 Maricel Pastor Representation Exp. ₱2,550.00
12/29/17 Jon Sandoval Gasoline Exp. 250.00
₱2,800.00

TOTAL AMOUNT OF FUND PER COUNT ₱1,175,454.00

I hereby certify that the above fund of ₱1,175,454.00 was counted in my presence by Ness
Cathrine C. Montejo on January 5, 2018 and the same was returned to me intact.

SARAH B. TUASON
Signature of Cashier
 7. Prepare a bank reconciliation dated December 31, 2017:

Grace Corporation
Bank Reconciliation
December 31, 2017
Adjusted Balance Method

Unadjusted Balance Per Book 4,709,230.00

Add: Credit Memo 8,890,000.00
Unrecorded Collection 1,124,025.00
Less: Debit Memo 502,500.00
Adjusted Balance Per Book 14,230,755.00

Unadjusted Balance Per Bank 14,267,272.00

Add: Deposit-in-Transit 1,219,138.00
Less: Outstanding Checks 1,255,655.00
Adjusted Balance Per Bank 14,230,755.00

Cash balance per book (per General Ledger)

Balance 1,000,000.00
Cash Disbursements (6,308,870.00)
Cash Receipts 10,018,100.00
Amount 4,709,230.00

Cash balance per bank statement 14,267,272.00

Bank Reconciling Items:

Deposits in Transit:
OR 117 85,113.00
OR 118 484,000.00
OR 119 165,550.00
OR 120 186,250.00
OR 121 93,750.00
OR 122 204,475.00
Total 1,219,138.00
Outstanding Checks:
Check No. 12349 175,000.00
Check No. 12352 14,000.00
Check No. 12361 25,490.00
Check No. 12362 13,325.00
Check No. 12363 85,000.00
Check No. 12364 942,840.00
Total 1,255,655.00

Book Reconciling Items

Credit Memos:
12/10/2017 500,000.00
12/28/2017 7,900,000.00
12/29/2017 490,000.00
Total 8,890,000.00

Debit Memos:
Return Check (12/10/2011) 500,000.00
Service Charge (12/29/2011) 2,500.00
Total 502,500.00

Unrecorded Collections

OR 118 484,000.00
OR 119 165,550.00
OR 120 186,250.00
OR 121 93,750.00
OR 122 204,475.00
1,134,025.00
 ACCOUNTS RECEIVABLE
1. Prove the mathematical accuracy of the sales book.
 All balances on sales book are accurately computed but credit output tax to
transaction on December 29 omits to present the amount.
 Based on further testing is appears an error on the allocation of output tax per
sale transaction.
2. Trace postings of sales book totals to general ledger (in the audit of cash the cash
collection were already vouched)
 Posting are properly done.
3. Trace Official Receipts postings to AR subsidiary ledgers.
 O.R. #102 total amount is incorrectly inputted but Account Receivable
Subsidiary Ledger totals are not affected.
 O.R. #110 Sampollo Corp. does not reflect on its AR Subsidiary Ledger but
reflects in the Cash Receipts Book
 O.R. #112 (S.I. #1242) Susan de Leon does not reflect on its AR Subsidiary
Ledger but reflects in the Cash Receipts Book
 O.R. #117 posting to AR Subsidiary Ledger is incorrectly inputted but in Cash
Receipts Book was properly recorded.
4. Trace sales invoice postings to AR subsidiary ledger.
 Posting are properly done.
5. Prove the mathematical accuracy of AR subsidiary ledgers.
 Balances are presented accordingly.
 6. Make an AR aging schedule.
GRACE CORPORATION
Aging of Accounts Receivable
December 31, 2011

Customer Name 1 to 30 days 31 to 60 days Over 60 days

Rex Enterprises (Sept.15) 1,700,000

Louie Tan (Nov.30) 800,000
Eagle Contactors (Nov.20) 300,000
Ida Coronel (Dec.15) 138,295
Alberto & Associates CPA's (Sept.15) 150,000
Cora Tayag (Dec.27) 289,875
Dynasty Construction (Nov.8) 50,000
Anna Reyes – Employee (Nov.20) 300,000
Gwendo Reyes (Nov.5) (50,000)
Benitez Merchandising 138,250
(Dec.30&Jan.3)
Light House Commercial 186,500
(Mar.21&April.19)
Building Blocks (Nov.19) 575,000
Carlo Santo (June 3) 264,000
J.R. Alano (Oct. 5) 1,600,000
Roces Adriano & Salas CPA (Nov. 20) 1,700,000
R.V. Castro & Co. (Sept. 20) (Nov. 224,500 1,000,000
30)
Centeno Antonio & Tantoco, CPA 736,000
(Dec. 29)
J.R Alano Trading (Nov.8) 150,000
Total 1,302,420.00 4,099,500.00 4,900,500.00
 Age of Accounts Receivable Amount
1 to 30 days P 1,302,420.00
31 to 60 days 4,099,500.00
Over 60 days 4,900,500.00
TOTAL ACCOUNTS P 10,302,420.00
RECEIVABLE
Multiply by: Bad Debt Rate 5%
Allowance for Bad Debts P 515, 221

Notes:
a) The 5% Bad debt rate is agreed upon between the company and the auditors.
b) Gwendo Reyes account will be classified as "Advances to Customers" under Current
Liabilities because it is overpayment.
c) Benitez Merchandising P138, 250 unrecorded sale is computed as sale at Dec.30 of
P232, 000 S.I. 1266 less Jan. 3 sale of P93, 750 S.I. 1267.
 7. Summarize the result of AR confirmation.
GRACE CORPORATION
Summary Result of Accounts Receivable Confirmation
December 31, 2011

Account Confirmed
Customer Name Explanation
No. Balance
Rex Enterprises 101 1,700,000 Balance is correct
P484,000 has been paid on
Louie Tan 102 1,284,000
December 28, 2011 per OR# 118
Eagle Contractors 103 No reply upon confirmation
Valera Company 104 No reply upon confirmation
Ida Coronel 105 138,295 Returned by Post Office
Alberto & Associates,
106 150,000 Balance is correct
CPAs
Legarda Company 107 No reply upon confirmation
Cora Tayag 108 289,975 Returned by Post Office
Dynasty Construction 109 No reply upon confirmation
Anna Reyes - Employee 111 300,000 Balance is correct
Gwendo Reyes 112 -50,000 Balance is correct
Benitez Merchandising 113 No reply upon confirmation
Lighthouse Commercial 114 Not Included in Send Out of Confirmation
Building Blocks, Inc. 115 575,000 Balance is correct
Solomon Enterprises 117 Not Included in Send Out of Confirmation
Carlo Santos 118 Not Included in Send Out of Confirmation
Chad Acosta 119 Not Included in Send Out of Confirmation
J.R. Alano 120 No reply upon confirmation
Susan de Leon 121 204,475 Balance is correct
Roces, Adriano, &
123 1,700,000 Balance is correct
Salas, CPA
R.V. Castro & Co. 124 1,224,500 Balance is correct
Johann Morales 125 Not Included in Send Out of Confirmation
Centeno, Antonio, &
126 73,600 Balance is correct
Tantoco, CPA
Luli Samson 127 Not Included in Send Out of Confirmation
J.R. Alano Trading 128 1,600,000 Balance is correct
Notes:
Succeeding Collections of Accounts Receivable include:
a.) PCIB #2255 for the partial payment of account no. 102 for sales invoice #1240 dated
December 28, 2011 per OR#118.
b.) FEBTC #408 for payment of account no. 103 for sales invoice #1264 dated December 30,
2011 per OR#119.
c.) PNB #1122 for payment of account no. 109 for sales invoice #1265 dated December 30,
2011 per OR#120.
d.) PCIB #4425 for payment of account no. 113 for sales invoice #1266 dated December 31,
2011 per OR#121.
e.) FEBTC #775 for payment of account no. 121 for sales invoice #1258 dated December 31,
2011 per OR#122.
f.) PCIB #2277 for payment of account no. 127 for sales invoice #1268 dated January 3,
2012 per OR#123 which will recognized next period.

8. Reconcile total of aging with balance in the general ledger.

Total Aging Balance P 10,302,420.00
Balance in General Ledger P 10,318,635.00
P (16, 215)
P16, 215 is to be deducted to the Accounts Receivable in the general ledger due to the
sales unrecorded by Grace Corporation.
9. Determine the adequacy of the allowance for bad debts.
Allowance for Bad Debts per gen. ledger P 497, 811
Allowance for Bad Debts required allowance P 515, 221
Adjustments to Allowance for Bad Debts (P 17, 410)
10. Post to “AR Confirmation Working Papers” subsequent collections of AR.
 INVENTORIES
Inventories
1. Prove postings from purchase invoices to stock cards.
2. Prove postings from sales invoices to stock cards.
3. Compare quantity per OR and Sales Invoices
4. Prove the footings of the inventory list
Physical Inventory List
January 4, 2012

Invty. List Unit Cost Total

Items
Plain Pencil 2,360 70 165,200
Charcoal Pencil 3,680 90 331,200
Red Ballpen 3,450 8.5 29,325
Blue Ballpen 8,500 8.5 72,250
Black Ballpen 9,500 8.5 80,750
Fountain Pen 230 103.5 23,805
Worksheet
16 columns 12,550 50 627,500
14 columns 10,200 50 510,000
12 columns 14,400 50 720,000
10 columns 12,150 50 607,500
Intermediate pad 3,850 15 57,750
Yellow Pad 3,800 30 114,000
Bond Paper 2,800 130 364,000
Onion Skin 1,960 110 215,600
Cartolina 1,540 9 13,860
Plastic Cover 1,300 17.5 22,750
Art Paper 600 150 90,000
Ink 350 57 19,950
Regular Folder 1,900 2.5 4,750
Long Folder 1,200 3.5 4,200
Paper Clips 300 30 9,000
Thumbtacks 350 40 14,000
Glue 660 22.5 14,850
Carbon Paper 360 100 36,000
Typewriter Ribbon 630 20.5 12,915
Scissors 150 12 1,800
Thick Notebook 3,450 32.5 112,125
 Thin Notebook 10,600 27.5 291,500
Fastener 3,450 1.1 3,795
Envelope- short - 2.5 -
Envelope- long - 3.5 -
Calculator - - -
fx-39 - - -
fx-40 - - -
hl-807 - - -
Stapler 5 152.5 762.50
TOTAL 4,571,138

Total: 4,567,038
Net: 4,077,712.50
Input Tax: 489,325.50

5. Test pricing.
Unit Cost (Invty Unit Cost (Count
Items List Sheet)
Plain Pencil 70 70
Charcoal Pencil 90 90
Red Ballpen 8.5 8.5
Blue Ballpen 8.5 8.5
Black Ballpen 8.5 8.5
Fountain Pen 103.5 103
Worksheet
16 columns 50 50
14 columns 50 50
12 columns 50 50
10 columns 50 50
Intermediate pad 15 15
Yellow Pad 30 30
Bond Paper 130 130
Onion Skin 110 110
Cartolina 9 8.5
Plastic Cover 17.5 17.5
Art Paper 150 145
Ink 57 57
Regular Folder 2.5 2.5
Long Folder 3.5 3.5
Paper Clips 30 35
Thumbtacks 40 40
Glue 22.5 22.5
Carbon Paper 100 100
Typewriter Ribbon 20.5 20.5
Scissors 12 12
Thick Notebook 32.5 32.5
Thin Notebook 27.5 27.5
Fastener 1.1 1
Envelope- short 2.5 -
Envelope- long 3.5 -
Calculator - -
fx-39 - -
fx-40 - -
hl-807 - -
Stapler 152.5 152.5

6. Prove extension.*

Count Sheet Unit Cost Total

Items
Plain Pencil 2,360 70 165,200
Charcoal Pencil 3,680 90 331,200
Red Ballpen 3,450 8.5 29,325
Blue Ballpen 8,500 8.5 72,250
Black Ballpen 9,500 8.5 80,750
Fountain Pen 250 103 25,750
Worksheet
16 columns 12,550 50 627,500
14 columns 10,200 50 510,000
12 columns 14,700 50 735,000
10 columns 12,150 50 607,500
Intermediate pad 3,850 15 57,750
Yellow Pad 3,800 30 114,000
Bond Paper 2,800 130 364,000
Onion Skin 1,860 110 204,600
Cartolina 1,850 8.5 15,725
Plastic Cover 1,300 17.5 22,750
 Art Paper 1,850 145 268,250
Ink 330 57 18,810
Regular Folder 1,800 2.5 4,500
Long Folder 1,250 3.5 4,375
Paper Clips 390 35 13,650
Thumbtacks 310 40 12,400
Glue 760 22.5 17,100
Carbon Paper 360 100 36,000
Typewriter Ribbon 830 20.5 17,015
Scissors 150 12 1,800
Thick Notebook 3,450 32.5 112,125
Thin Notebook 3,400 27.5 93,500
Fastener 3,450 1 3,450
Envelope- short - - -
Envelope- long - - -
Calculator - - -
fx-39 - - -
fx-40 - - -
hl-807 - - -
Stapler 5 152.5 763
TOTAL 4,567,038

* An inventory extension is the multiplication of an inventory unit quantity by its assigned cost.
The outcome is the total cost of the number of units on hand. The cost used in this calculation is
most commonly the standard cost assigned to a product. The outcome is then recorded as the
ending inventory balance of a company.
 Summary

Stock Invty. Unit Count Unit

Total Total
Items Card List Cost Sheet Cost
Plain Pencil 2,360 2,360 70 165,200 2,360 70 165,200
Charcoal Pencil 3,680 3,680 90 331,200 3,680 90 331,200
Red Ballpen 3,450 3,450 8.5 29,325 3,450 8.5 29,325
Blue Ballpen 8,500 8,500 8.5 72,250 8,500 8.5 72,250
Black Ballpen 9,500 9,500 8.5 80,750 9,500 8.5 80,750
Fountain Pen 250 230 103.5 23,805 250 103 25,750
Worksheet
16 columns 12,550 12,550 50 627,500 12,550 50 627,500
14 columns 10,200 10,200 50 510,000 10,200 50 510,000
12 columns 14,700 14,400 50 720,000 14,700 50 735,000
10 columns 12,100 12,150 50 607,500 12,150 50 607,500
Intermediate pad 3,850 3,850 15 57,750 3,850 15 57,750
Yellow Pad 3,800 3,800 30 114,000 3,800 30 114,000
Bond Paper 2,800 2,800 130 364,000 2,800 130 364,000
Onion Skin 1,860 1,960 110 215,600 1,860 110 204,600
Cartolina 1,600 1,540 9 13,860 1,850 8.5 15,725
Plastic Cover 1,300 1,300 17.5 22,750 1,300 17.5 22,750
Art Paper 600 600 150 90,000 1,850 145 268,250
Ink 330 350 57 19,950 330 57 18,810
Regular Folder 1,800 1,900 2.5 4,750 1,800 2.5 4,500
Long Folder 1,250 1,200 3.5 4,200 1,250 3.5 4,375
Paper Clips 190 300 30 9,000 390 35 13,650
Thumbtacks 240 350 40 14,000 310 40 12,400
Glue 760 660 22.5 14,850 760 22.5 17,100
Carbon Paper 360 360 100 36,000 360 100 36,000
Typewriter
830 630 20.5 12,915 830 20.5 17,015
Ribbon
Scissors 200 150 12 1,800 150 12 1,800
Thick Notebook 3,450 3,450 32.5 112,125 3,450 32.5 112,125
Thin Notebook 3,400 10,600 27.5 291,500 3,400 27.5 93,500
Fastener 3,450 3,450 1.1 3,795 3,450 1 3,450
Envelope- short - - 2.5 - - - -
Envelope- long - - 3.5 - - - -
Calculator - - - - - - -
 fx-39 - - - - - - -
fx-40 - - - - - - -
hl-807 - - - - - - -
Stapler - 5 152.5 762.50 5 152.5 763
TOTAL 4,571,138 4,567,038

8. Trace Count Sheet to Inventory List.

9. Trace Inventory List to Count Sheet.
10. Trace Inventory List to Stock Cards.
11. Trace Stock Cards to Inventory Lists
 INVENTORY COUNT SHEET
Date of Count: Client’s Name: Stock Location:
January 4, 2012
GRACE Corporation Store
Balance Sheet Date:
December 31,2011
DESCRIPTION

Auditor’s Stock Per Difference Remarks

Unit Per Count Per Client’s
Brand & Stock Count Count
List

Bic Ballpen
 Red pcs 3,450 3,960 3,450 510
 Blue pcs 8,500 8,500 8,500 -
 Black pcs 9,500 9,500 9,500 -
Charcoal Pencil box 3,680 3,430 3,680 250
Plain Pencil box 2,360 2,360 2,360 -

Whitey bond paper ream 2,800 2,800 2,800 -

Yellow Pad pad 3,800 3,800 3,800 -
Glue Elmer’s botls 660 760 660 100
Roll-O typewriter ribbon box 630 830 630 200
Calculator
 Fx-39 pcs 0 0 0 -
 Fx-40 pcs 0 0 0 -
 Hl-807 pcs 0 0 0 -
Max Stapler pcs 5 - 5 -
Worksheet
pads 12,550 12,550 12,550 -
 16 columns
pads 10,200 10,200 10,200 -
 14 columns
pads 14,400 14,700 14,400 300
 12 columns pads 12,150 12,100 12,150 50
 10 columns
Taken by: Sheet No ._____of_____Sheets

Auditor’s Representative Client’s Representative Complete Check

For Auditor For Client Test Check

✓
 PURCHASE BOOK
DATE PURCHASED FROM TERMS INV NO. ACCOUNTS PAYABLE Inventory INPUT TAX
Dec.1 Arboleda Co. Inc 101 413,750.00 376,136.36 37,613.64
2 Genius Paper Products 111 1,425,000.00 1,295,454.55 129,545.45
3 Sapphire Corporation 1082 459,600.00 417,818.18 41,781.82
6 Genius Paper Products 127 1,600,000.00 1,454,545.45 145,454.55
7 Arboleda Co. Inc 107 34,200.00 31,090.91 3,109.09
9 Arboleda Co. Inc 112 87,500.00 79,545.45 7,954.55
10 Genius Paper Products 130 1,250,000.00 1,136,363.64 113,636.36
12 Sapphire Corporation 1090 14,000.00 12,727.27 1,272.73
15 Genius Paper Products 135 13,250.00 12,045.45 1,204.55
16 Arboleda Co. Inc 117 85,000.00 77,272.73 7,727.27
18 Sapphire Corporation 1095 85,000.00 77,272.73 7,727.27
20 Genius Paper Products 140 127,875.00 116,250.00 11,625.00
21 Arboleda Co. Inc 120 5,000.00 4,545.45 454.55
22 Genius Paper Products 145 130,000.00 118,181.82 11,818.18
23 Sapphire Corporation 1099 12,250.00 11,136.36 1,113.64
24 Arboleda Co. Inc 127 25,750.00 23,409.09 2,340.91
26 Genius Paper Products 147 45,000.00 40,909.09 4,090.91
27 Sapphire Corporation 1100 13,325.00 12,113.64 1,211.36
28 Genius Paper Products 151 165,000.00 150,000.00 15,000.00
29 Arboleda Co. Inc 130 19,125.00 17,386.36 1,738.64
29 Genius Paper Products 7729 252,250.00 229,318.18 22,931.82
30 Arboleda Co. Inc 825 155,600.00 141,454.55 14,145.45
Total 6,418,475.00 5,834,977.27 583,497.73
12. Summarize errors in the error sheet

Errors found while tracing PI to Stock Cards

Stock Card No. Item Purchase Invoice Findings
No.
1015 130  2,250 rolls
Received dated
December 20,
2011 with PI
130 has no
purchase
invoice
Cartolina document.
(However, there
is a PI 140
dated December
20, 2011 with
Cartolina Rolls
with 2,500 rolls
purchased)
1017 140  Recorded only
750 reams
received but is
Art Paper 2,000 reams in
the PI 140 dated
December 20,
2011
1021 1099  Recorded only
250 boxes
received but is
Paper Clips 350 boxes in the
PI 1099 dated
December 23,
2011
1022  Recorded only
250 boxes
received but is
Thumbtacks 350 boxes in the
PI 1090 dated
December 12,
2011. The
record in the
 stock card
shows PI 1099
dated December
23, 2011.
 Stock Card No. 1005; PI 1095 - Purchase Invoice date: December 8, 2011; Stock Card
date December 18, 2011
 Stock Card No. 1024; PI 147 - Purchase Invoice date: December 15, 2011; Stock Card
date December 26, 2011
 Stock Card No. 1006 – Shows Fountain Pen but is actually a Ballpen in the PI 127
 Items in PI 7729 and PI 825 are not yet recorded in the stock card
 The amounts in PI 7729 and PI 825 are erroneously calculated.
 Errors found while tracing SI to Stock Cards
Stock Card No. Item Sales Invoice No. Findings
1001 1265  500 boxes sold
dated December
31, 2011 with SI
1265 has no
sales invoice
document.
Plain Pencil (However, there
is a SI 1263
dated December
29, 2011 with
500 boxes of
Plain Pencils –
Mongol sold)
1002 1265  Recorded sale in
the wrong sales
invoice. The
correct SI is
1263.
 Recorded 500 in
the Stock Card
Charcoal Pencil but in the SI
1263, it is only
250.
 Stock Card
balance is 3680
(250) but the
computed
balance is 3430
(500)
1003 1254  Recorded sale in
the wrong sales
invoice. The
correct SI is
1255.
1259  Recorded 240 in
Red Ballpen the Stock Card.
But the quantity
in the SI is only
150.
 Understated
Stock Card
Balance
 1262  Recorded 150 in
the Stock Card
but in the SI
1262, it is 750.
 Stock Card
balance is 3450
(3960 if 150)
but the
computed
balance is 3360
(750)
1005 1254  Recorded sale in
the wrong sales
Black Ballpen invoice. The
correct SI is
1255
1009 1261  Recorded 200 in
the Stock Card
Worksheet 12 but in the SI
columns 1261, it is 500.
 The Stock Card
balance is
overstated.
1010 -  The Stock Card
balance is
Worksheet 10 12,100 but it is
columns actually 12,150.
 Balance is
understated.
1021 1255  No sale of paper
clips of 100
boxes is
recorded.
 There is a
Paper Clips record of sale of
plain pencils of
100 boxes
although it is
not reflected in
the Stock Card
No. 1001
1022 1251  No sale of
Thumbtacks thumbtacks of
10 boxes is
recorded.
 1255  Recorded 100 in
the Stock Card
but in the SI
1255, it is 150.
 The Stock Card
balance is
understated.
1259  Recorded 30 in
the Stock Card
but in the SI
1259, it is 20.
 The Stock Card
balance is
overstated.
1028 1255  Recorded 4,000
in the Stock
Card but in the
SI 1255, it is
1,000.
1257  Recorded 1,200
in the Stock
Card but in the
SI 1257, it is
Thin Notebook 300.
1258  Recorded 1,200
in the Stock
Card but in the
SI 1258, it is
300.
1262  Recorded 3,200
in the Stock
Card but in the
SI 1262, it is
800.

Other Findings:
 The dates are not matching.
Findings:
 SI 1252
 For the amount for the Folder-regular, it is overstated by ₱5.00.
 Total is written as ₱46.25 when it should have been ₱4625.00