The audit work requires the verification of cut -off procedures to ensure that all transactions are recorded in the correct accounting period. During the yearend inventory count on 31 March 201X the audit team recorded the following transactions. The last Goods Received Note number was 10672. Which invoices should be recorded in purchases for the year?

Invoice no Supplier Invoice date GRN number Amount

95493 Big Trumpet plc 28 March 10674 £ 3,098.45

95494 Last Post Ltd 31 March 10671 £12,274.20

94495 Bugle Ltd 29 March 10673 £1,567.90

94496 Bangalong Ltd 30 March 10672 £12,786.42

94497 Simbol plc 1 April 10670 £ 456.48

94498 Twangalong Ltd 31 March 10675 £ 998.46

Question

The audit work requires the verification of cut -off procedures to ensure that all transactions are recorded in the correct accounting period.
During the yearend inventory count on 31 March 201X the audit team recorded the following transactions.
The last Goods Received Note number was 10672.
Which invoices should be recorded in purchases for the year?

Invoice no	Supplier	Invoice date	GRN number	Amount
95493	Big Trumpet plc	28 March	10674	£ 3,098.45
95494	Last Post Ltd	31 March	10671	£12,274.20
94495	Bugle Ltd	29 March	10673	£1,567.90
94496	Bangalong Ltd	30 March	10672	£12,786.42
94497	Simbol plc	1 April	10670	£ 456.48
94498	Twangalong Ltd	31 March	10675	£ 998.46

Quizplus · Accepted Answer

The Answer is b) 95494, 94496 and 94497

The Audit Work Requires the Verification of Cut -Off Procedures