What financial statement implications, if any, would each of the above transactions have for Canyon Outdoor?
In your audit of Canyon Outdoor Provision Company’s financial statements, the following transactions came to your attention: 1. Canyon Outdoor’s operating lease for its main store is with MTS Properties, which is a real estate investment firm owned by Andrei Mikhailov. Mr. Mikhailov is a member of Canyon Outdoor’s board of directors. 2. One of […]