Prepare auditor's working paper adjusting entries resulting from above data. (assume that the ending inventory has been recorded through the cost of sales method.) solution: towering heights company audit working paper adjusting entries

Areciprocal relationship in which there is an immediate reward for giving.

The Difference between goods and services are : * Goods are the material items that the customers are ready to purchase for a price while Services are the amenities, benefits or facilities provided by the other persons. * Goods are tangible items , they can be seen or touched where as services are intangible items. * When the buyer purchases the goods by paying the consideration, the ownership of goods moves from the seller to the buyer. Conversely, the ownership of services is non-transferable. * The evaluation of services is difficult because every service provider has a different approach of carrying out services, so it is hard to judge whose services are better than the other as compared to goods it was very simple and easy . * Goods can be returned to or exchanged with the seller, but it is not possible to return or exchange services, once they are provided. * Goods can be distinguished from the seller. On the other hand, services and service provider are inseparable. * Goods can be stored for future use, but services are time bound,  if not availed in the given time, then it cannot be stored. * First of all the goods are produced, then they are traded and finally consumed, whereas services are produced and consumed at the same time.