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14.
• 4. The manager asks you how much in total resources the business has
to work with and, how much it owes.
Adjust the accounts; construct the financial statements) Record the follo
wing month end adjusting entries for Gordon Construction, Inc. at June
30, 2014
Month end accruals at June 30, 2014:
• a. Accrued advertising revenue at June 30, $3,100.
• b. Supplies used during June, $3,090.
• c. Accrued salary expense at June 30 for Monday, Tuesday, and Wedn
esday. The five-day weekly payroll is $6,100 and will be paid on Friday.
Requirement 2
Prepare adjusted trial balance for Gordon Construction at June 30, 2014.
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ACCT 504 Case Study 2 (Williams Oil)
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Case study
(Learning Objectives 2, 4: Explain the components of internal control; e
valuate internal controls) Each of the following situations reveals an inte
rnal control weakness:
Situation a. In evaluating the internal control over inventory for the Willi
ams Oil Services Company, an auditor learns that the warehouse receivi
ng clerk is responsible for ordering parts for supply inventory use in drill
ing services, counts the inventory when received at the dock, records the
receipts into the inventory ledger, and takes the annual inventory, No su
pervisor reviews the receiving clerks work.