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The auditors wish to test the valuation of accounts receivable in the audit of Seaside Enterprises. The client has $5,000,000 of total recorded receivables, composed of 2500 accounts. The auditors have determined the following:
Tolerable misstatement $225,000Risk of incorrect acceptance 5%Estimated misstatement 1
calculate sampling interval and sample size
What are some of the advantages and the disadvantages of database forms? What is your experience in using Queries? Have you ever read the SQL commands generated by a Query in Access database?
On May 31, 2010, James Logan Company had a cash balance per books of $8,205.62. The bank statement from Farmers State Bank on that date showed a balance of $7,749.57. A comparison of the statement with the cash account revealed the following facts..
Make a balance sheet and income statement as of December 31, 2003, for Sharpe Manufacturing Company from the following information.
Explain the product and the production process. Describe how you would find out the quantity of spoiled units that are normal versus abnormal. Explain how you would determine the cost of good units, normal spoilage and abnormal spoilage.
Explain how producing more products can be sold in a period can increase the organization's operating income. Is this a sustainable tactic to increase the organization's operating income?
As a result of a review and aging of accounts receivable, it has been determined that the Allowance for Doubtful Accounts should show a balance of $2,100 at December 31,2010.
Many individuals believe that trade deficits are troubling economic condition which points out weakness in economy while trade surpluses are sign of strength and rising prominence for economy.
Mikor has an account payable of 7,700$ due to Smiley Inc. one of its suppliers. The amount was due to be paid on October 15, 2007. Use the horizontal model, or write the journal entry to show the effect of :
The break even or cost volume profit (CVP) model is based on a number of assumptions. Discuss these assumptions and whether or not they are correct in the real world. Finally, discuss how CVP analysis can be useful in planning. Describe the advant..
Describe the discrepancy between Diamond Foods, Inc.'s description of payments to walnut growers and what the farmers themselves say the payments are for
Provide all required journal entries for fund and government-wide financial statements. What information do the government-wide financial statements present? What information do the fund out financial statements present?
Historic cost should be replaced by an alternative measurement base in order to make financial statement more useful. Critically discuss this statement, concluding with whether or not you agree with it.
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