Desepeda, Jayzel B.
BSA IV-A
Physical Inventory List
January 4, 2017
Items
Plain Pencil
Charcoal Pencil
Red Ballpen
Blue Ballpen
Black Ballpen
Fountain Pen
Worksheet
16 columns
14 columns
12 columns
10 columns
Intermediate pad
Yellow Pad
Bond Paper
Onion Skin
Cartolina
Plastic Cover
Art Paper
Ink
Regular Folder
Long Folder
Paper Clips
Thumbtacks
Glue
Carbon Paper
Typewriter Ribbon
Scissors
Thick Notebook
Inventory.
List
2,360
3,680
3,450
8,500
9,500
230
Unit Cost
Total
70
90
8.5
8.5
8.5
103.5
165,200
331,200
29,325
72,250
80,750
23,805
12,550
10,200
14,400
12,150
3,850
3,800
2,800
1,960
1,540
1,300
600
350
1,900
1,200
300
350
660
360
630
150
3,450
50
50
50
50
15
30
130
110
9
17.5
150
57
2.5
3.5
30
40
22.5
100
20.5
12
32.5
627,500
510,000
720,000
607,500
57,750
114,000
364,000
215,600
13,860
22,750
90,000
19,950
4,750
4,200
9,000
14,000
14,850
36,000
12,915
1,800
112,125
Desepeda, Jayzel B.
BSA IV-A
Thin Notebook
Fastener
Envelope- short
Envelope- long
Calculator
fx-39
fx-40
hl-807
Stapler
TOTAL
10,600
3,450
5
27.5
1.1
2.5
3.5
152.5
291,500
3,795
762.50
4,571,138
Total: 4,567,038
Net: 4,077,712.50
Input Tax: 489,325.50
1. Test pricing.
Items
Plain Pencil
Charcoal Pencil
Red Ballpen
Blue Ballpen
Black Ballpen
Fountain Pen
Worksheet
16 columns
14 columns
12 columns
10 columns
Intermediate pad
Yellow Pad
Bond Paper
Onion Skin
Cartolina
Plastic Cover
Art Paper
Ink
Regular Folder
Long Folder
Unit Cost
(Inventory List)
70
90
8.5
8.5
8.5
103.5
Unit Cost (Count
Sheet)
70
90
8.5
8.5
8.5
103
50
50
50
50
15
30
130
110
9
17.5
150
57
2.5
3.5
50
50
50
50
15
30
130
110
8.5
17.5
145
57
2.5
3.5
Desepeda, Jayzel B.
BSA IV-A
Paper Clips
Thumbtacks
Glue
Carbon Paper
Typewriter Ribbon
Scissors
Thick Notebook
Thin Notebook
Fastener
Envelope- short
Envelope- long
Calculator
fx-39
fx-40
hl-807
Stapler
30
40
22.5
100
20.5
12
32.5
27.5
1.1
2.5
3.5
152.5
35
40
22.5
100
20.5
12
32.5
27.5
1
152.5
2. Prove extension.*
Items
Plain Pencil
Charcoal Pencil
Red Ballpen
Blue Ballpen
Black Ballpen
Fountain Pen
Count Sheet
Unit Cost
Total
2,360
3,680
3,450
8,500
9,500
250
70
90
8.5
8.5
8.5
103
165,200
331,200
29,325
72,250
80,750
25,750
12,550
10,200
14,700
12,150
3,850
3,800
2,800
1,860
1,850
1,300
50
50
50
50
15
30
130
110
8.5
17.5
627,500
510,000
735,000
607,500
57,750
114,000
364,000
204,600
15,725
22,750
Worksheet
16 columns
14 columns
12 columns
10 columns
Intermediate pad
Yellow Pad
Bond Paper
Onion Skin
Cartolina
Plastic Cover
Desepeda, Jayzel B.
BSA IV-A
Art Paper
Ink
Regular Folder
Long Folder
Paper Clips
Thumbtacks
Glue
Carbon Paper
Typewriter Ribbon
Scissors
Thick Notebook
Thin Notebook
Fastener
Envelope- short
Envelope- long
Calculator
fx-39
fx-40
hl-807
Stapler
TOTAL
1,850
330
1,800
1,250
390
310
760
360
830
150
3,450
3,400
3,450
5
145
57
2.5
3.5
35
40
22.5
100
20.5
12
32.5
27.5
1
152.5
268,250
18,810
4,500
4,375
13,650
12,400
17,100
36,000
17,015
1,800
112,125
93,500
3,450
763
4,567,038
Desepeda, Jayzel B.
BSA IV-A
Summary
Items
Plain Pencil
Charcoal Pencil
Red Ballpen
Blue Ballpen
Black Ballpen
Fountain Pen
Stock
Card
2,360
3,680
3,450
8,500
9,500
250
Invty.
List
2,360
3,680
3,450
8,500
9,500
230
Unit
Cost
70
90
8.5
8.5
8.5
103.5
165,200
331,200
29,325
72,250
80,750
23,805
Count
Sheet
2,360
3,680
3,450
8,500
9,500
250
Unit
Cost
70
90
8.5
8.5
8.5
103
165,200
331,200
29,325
72,250
80,750
25,750
12,550
10,200
14,700
12,100
3,850
3,800
2,800
1,860
1,600
1,300
600
330
1,800
1,250
190
240
760
360
12,550
10,200
14,400
12,150
3,850
3,800
2,800
1,960
1,540
1,300
600
350
1,900
1,200
300
350
660
360
50
50
50
50
15
30
130
110
9
17.5
150
57
2.5
3.5
30
40
22.5
100
627,500
510,000
720,000
607,500
57,750
114,000
364,000
215,600
13,860
22,750
90,000
19,950
4,750
4,200
9,000
14,000
14,850
36,000
12,550
10,200
14,700
12,150
3,850
3,800
2,800
1,860
1,850
1,300
1,850
330
1,800
1,250
390
310
760
360
50
50
50
50
15
30
130
110
8.5
17.5
145
57
2.5
3.5
35
40
22.5
100
627,500
510,000
735,000
607,500
57,750
114,000
364,000
204,600
15,725
22,750
268,250
18,810
4,500
4,375
13,650
12,400
17,100
36,000
830
630
20.5
12,915
830
20.5
17,015
200
3,450
3,400
3,450
-
150
3,450
10,600
3,450
-
12
32.5
27.5
1.1
2.5
3.5
-
1,800
112,125
291,500
3,795
-
150
3,450
3,400
3,450
-
12
32.5
27.5
1
-
1,800
112,125
93,500
3,450
-
Total
Total
Worksheet
16 columns
14 columns
12 columns
10 columns
Intermediate pad
Yellow Pad
Bond Paper
Onion Skin
Cartolina
Plastic Cover
Art Paper
Ink
Regular Folder
Long Folder
Paper Clips
Thumbtacks
Glue
Carbon Paper
Typewriter
Ribbon
Scissors
Thick Notebook
Thin Notebook
Fastener
Envelope- short
Envelope- long
Calculator
Desepeda, Jayzel B.
BSA IV-A
fx-39
fx-40
hl-807
Stapler
TOTAL
-
5
152.5
762.50
4,571,138
5
152.5
763
4,567,038
Desepeda, Jayzel B.
BSA IV-A
INVENTORY COUNT SHEET
Client’s Name:
Date of Count:
January 4, 2017
GRACE Corporation
Balance Sheet Date:
December 31,2018
DESCRIPTION
Whitey bond paper
Yellow Pad
Glue Elmer’s
Roll-O typewriter ribbon
Calculator
 Fx-39
 Fx-40
 Hl-807
Max Stapler
Worksheet
 16 columns
 14 columns
 12 columns
 10 columns
Store
Auditor’s
Per Count
Stock
Per
Count
Per
Client’s
Count
List
Difference
Unit
pcs
pcs
pcs
box
box
3,450
8,500
9,500
3,680
2,360
3,960
8,500
9,500
3,430
2,360
3,450
8,500
9,500
3,680
2,360
510
250
-
ream
pad
botls
box
2,800
3,800
660
630
2,800
3,800
760
830
2,800
3,800
660
630
100
200
pcs
pcs
pcs
pcs
0
0
0
5
0
0
0
-
0
0
0
5
-
pads
pads
pads
pads
12,550
10,200
14,400
12,150
12,550
10,200
14,700
12,100
12,550
10,200
14,400
12,150
300
50
Sheet No .
of
Brand & Stock
Bic Ballpen
 Red
 Blue
 Black
Charcoal Pencil
Plain Pencil
Stock Location:
Taken by:
Auditor’s Representative
Client’s Representative
For Auditor
For Client
Remarks
Sheets
Complete Check
✓
Test Check
Desepeda, Jayzel B.
BSA IV-A
DATE
Dec.1
2
3
6
7
9
10
12
15
16
18
20
21
22
23
24
26
27
28
29
29
30
Total
PURCHASE BOOK
PURCHASED FROM TERMS INV NO. ACCOUNTS PAYABLE
Arboleda Co. Inc
101
413,750.00
Genius Paper Products
111
1,425,000.00
Sapphire Corporation
1082
459,600.00
Genius Paper Products
127
1,600,000.00
Arboleda Co. Inc
107
34,200.00
Arboleda Co. Inc
112
87,500.00
Genius Paper Products
130
1,250,000.00
Sapphire Corporation
1090
14,000.00
Genius Paper Products
135
13,250.00
Arboleda Co. Inc
117
85,000.00
Sapphire Corporation
1095
85,000.00
Genius Paper Products
140
127,875.00
Arboleda Co. Inc
120
5,000.00
Genius Paper Products
145
130,000.00
Sapphire Corporation
1099
12,250.00
Arboleda Co. Inc
127
25,750.00
Genius Paper Products
147
45,000.00
Sapphire Corporation
1100
13,325.00
Genius Paper Products
151
165,000.00
Arboleda Co. Inc
130
19,125.00
Genius Paper Products
7729
252,250.00
Arboleda Co. Inc
825
155,600.00
6,418,475.00
Inventory
INPUT TAX
376,136.36
37,613.64
1,295,454.55
129,545.45
417,818.18
41,781.82
1,454,545.45
145,454.55
31,090.91
3,109.09
79,545.45
7,954.55
1,136,363.64
113,636.36
12,727.27
1,272.73
12,045.45
1,204.55
77,272.73
7,727.27
77,272.73
7,727.27
116,250.00
11,625.00
4,545.45
454.55
118,181.82
11,818.18
11,136.36
1,113.64
23,409.09
2,340.91
40,909.09
4,090.91
12,113.64
1,211.36
150,000.00
15,000.00
17,386.36
1,738.64
229,318.18
22,931.82
141,454.55
14,145.45
5,834,977.27
583,497.73
Desepeda, Jayzel B.
BSA IV-A
8. Summarize errors in the error sheet
Errors found while tracing PI to Stock Cards
Stock Card No.
Item
1015
Purchase Invoice
No.
Findings
130

2,250 rolls
Received dated
December 20,
2011 with PI
130 has no
purchase
invoice
document.
(However, there
is a PI 140
dated December
20, 2011 with
Cartolina Rolls
with 2,500 rolls
purchased)
140

1099

Recorded only
750 reams
received but is
2,000 reams in
the PI 140 dated
December 20,
2011
Recorded only
250 boxes
received but is
350 boxes in the
PI 1099 dated
December 23,
2011
Cartolina
1017
Art Paper
1021
Paper Clips

1022
Thumbtacks
Recorded only
250 boxes
received but is
350 boxes in the
PI 1090 dated
December 12,
2011. The
record in the
Desepeda, Jayzel B.
BSA IV-A





stock card
shows PI 1099
dated December
23, 2011.
Stock Card No. 1005; PI 1095 - Purchase Invoice date: December 8, 2018; Stock Card
date December 18, 2011
Stock Card No. 1024; PI 147 - Purchase Invoice date: December 15, 2018; 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.
Desepeda, Jayzel B.
BSA IV-A
Errors found while tracing SI to Stock Cards
Stock Card No.
Item
1001
Sales Invoice No.
Findings
1265

1265

Plain Pencil
1002

Charcoal Pencil

1003
Red Ballpen
1254

1259


500 boxes sold
dated December
31, 2011 with SI
1265 has no
sales invoice
document.
(However, there
is a SI 1263
dated December
29, 2011 with
500 boxes of
Plain Pencils –
Mongol sold)
Recorded sale in
the wrong sales
invoice. The
correct SI is
1263.
Recorded 500 in
the Stock Card
but in the SI
1263, it is only
250.
Stock Card
balance is 3680
(250) but the
computed
balance is 3430
(500)
Recorded sale in
the wrong sales
invoice. The
correct SI is
1255.
Recorded 240 in
the Stock Card.
But the quantity
in the SI is only
150.
Understated
Stock Card
Balance
Desepeda, Jayzel B.
BSA IV-A
1262


1005
1254

1261

Black Ballpen
1009
Worksheet 12
columns
1010

-

Worksheet 10
columns

1021
1255


Paper Clips
1022
1251
Thumbtacks

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)
Recorded sale in
the wrong sales
invoice. The
correct SI is
1255
Recorded 200 in
the Stock Card
but in the SI
1261, it is 500.
The Stock Card
balance is
overstated.
The Stock Card
balance
is
12,100 but it is
actually 12,150.
Balance
is
understated.
No sale of paper
clips of 100
boxes is
recorded.
There is a
record of sale of
plain pencils of
100 boxes
although it is
not reflected in
the Stock Card
No. 1001
No sale of
thumbtacks of
10 boxes is
recorded.
Desepeda, Jayzel B.
BSA IV-A
1255


1259


1028
1255

1257

1258

1262

Thin Notebook
Other Findings:

The dates are not matching.
Recorded 100 in
the Stock Card
but in the SI
1255, it is 150.
The Stock Card
balance is
understated.
Recorded 30 in
the Stock Card
but in the SI
1259, it is 20.
The Stock Card
balance is
overstated.
Recorded 4,000
in the Stock
Card but in the
SI 1255, it is
1,000.
Recorded 1,200
in the Stock
Card but in the
SI 1257, it is
300.
Recorded 1,200
in the Stock
Card but in the
SI 1258, it is
300.
Recorded 3,200
in the Stock
Card but in the
SI 1262, it is
800.
Desepeda, Jayzel B.
BSA IV-A
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