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Problem 1: Calculate the projected likely misstatement ( PLM ) using the ratio method and determine what action is required based on the materiality level indicated .
A. Inventory general ledger value $ 980,000 with 200,400 products . Recorded balance of auditor's sample $ 115,320 for 21,000 products , audit test indicates sample value of $ 113,620 . The audit partner has set performance materiality at 1.0 % .
B. Accounts payable general ledger value $ 865,000 on 1,100 accounts . Recorded balance of auditor's sample $ 127,600 in 150 accounts , audit test indicates sample value of $ 132,100. The audit partner has set performance materiality at 1,0 %
It placed in service machinery (7-year property) on December 1 with a basis of $50,000. Calculate the maximum depreciation expense
Compute the equivalent units for materials using the weighted-average method. Equivalent units (gallons)?
Discuss how CDS can be used for hedging and speculative purposes.
During the year, dividends of $36,000 were paid to stockholders. compute the Total liabilities and stockholders equity
Discuss which forecasting model fits best for Boulanger's strategic plan. Justify the selection of one model over the other
If the amount realized from the sale is $1,750,000, compute the amount and character of the corporation's gain or loss on the sale
Question - What is the difference between an excise tax and a general sales tax? Does the Federal government impose a general sales tax
In 2010, the Sterling Farm Company produced 100,000 bushels of wheat at a cost of $2.00 per bushel. The company has a contract to deliver 80,000 bushels at $2.15 per bushel in 2011.
Compute the amount of annual deposits that along with the initial deposit will bring the fund balance up to $250,000 at the maturity of the obligation
taffy industries is considering purchasing equipment costing 60000 with a 6-year useful life. the equipment will
In today's global marketplace, business is conducted on every continent, in different currencies and in many languages.
Discuss the accounting alternatives that should be considered by Griseta & Dubel Inc. for the recognition of its revenues and related expenses.
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