Finding Text
As a result of our audit, we proposed ten (10) audit adjusting entries to correct the books as originally provided to us for audit. Most of these adjustments were material to the financial statements. Adjustments were necessary for basis areas, including accounts receivable, allowances for doubtful accounts, fixed assets, accumulated depreciation, accounts payable, accrued wages, accrued payroll taxes payable, the PNC line of credit, debt issuance costs, lease liability revenue, and expenses.