User Account

All Pages

Calculate the projected misstatement for the population

Assignment Help Accounting Basics
Reference no: EM131758588

Missing problem 9 - 45 from MP Principles of Auditing and Other Assurance Services with ACL software CD.

A mean per unit sampling to evaluate the reasonableness of the book value of the accounts receivable has 10,000 accounts receivable accounts with a total book value of 1,500,000. There are estimates that the population's standard deviation to be equal to $25. After examining the audit plan, it is believed that the test's tolerable misstatement is $60,000 and that the risk of incorrect rejection of 5 % and a risk of incorrect acceptance of 10% are appropriate.

a. calculate the required sample size

b. Assuming the following results:
Avg audited value of $146
Standard deviation of sample: 28
Use the per mean per unit method to:

1. Calculate the point of the estimate of the account's audited value.

2. Calculate the projected misstatement for the population

3. Calculate the adjusted allowance for sampling risk

4. State Rachel's conclusion in the situation

Reference no: EM131758588

Questions Cloud

Explain the reasons why the united states entered wwi : Explain the reasons why the United States entered WWI, how WWI changed warfare, how WWI was fought on the home front in the United States?
Calculate the capital gain for bob arising from sale : Calculate the capital gain for Bob arising from sale of the land for
In what sense is existentialism empowering : What does Sartre mean when he says "existence precedes essence"? Do you think this is a correct characterization of the human condition?
Process of marketing more than just advertising : Please explain in detail,How is the process of marketing more than just advertising?
Calculate the projected misstatement for the population : Calculate the point of the estimate of the account's audited value. Calculate the projected misstatement for the population
Circumstances should spousal privileges be extended : Under what circumstances should spousal privileges be extended? Should any of the privileges be revoked? Should other relationships be extended privileges as we
Hearsay be admissible in court : Should statements including hearsay within hearsay be admissible in court? Can these statements truly be reliable? Why or why not?
Should dying declarations be admissible in court : Should dying declarations be admissible in court? What about excited utterances? What are the benefits and consequences from the perspective of both sides?
Discuss how useful is it for a company to include notes : How useful is it for a company to include notes with reference to the accounting methods they use

Reviews

Write a Review

Accounting Basics Questions & Answers

  Presented below is a condensed version of the comparative

presented below is a condensed version of the comparative balance sheets for sondergaard corporation for the last two

  Inland machine tool inc is authorized to issue 700000

inland machine tool inc. is authorized to issue 700000 shares of 5 par common stock. the company issued 71000 shares at

  A company issued 10-year 8 bonds with a par value of 200000

1.a company issued 10-year 8 bonds with a par value of 200000. the company received 190000 for the bonds. using the

  Develop as a team leader

Your company has just hired your foreign friend to work in a middle-management position. Since you have lived in the United States for many years, your friend believes that you understand job coaching for a traditional American company.

  Estimate elasticity of demand of transatlantic air

Transatlantic air travel in business class has an estimated elasticity of demand of 0.40 less than transatlantic air travel in economy class.

  Compute northeast usa first-year depreciation

Assume that at the beginning of 2010, Northeast USA, a FedEx competitor, purchased a used Boeing 737 aircraft at a cost of $53,000,000. Northeast USA expects the plane to remain useful for five years (six million miles) and to have a residual valu..

  As is often the case in financial transactions there are

as is often the case in financial transactions there are differences in accounting for tax purposes and accounting for

  System balanced security and usability

Analyze the new system and determine the design issues with this new system. Describe how you would correct the design issues with the system to make the restaurant managers happy.

  Jude received a 25000 distribution from bc corporation that

1. wallys investment real estate was condemned on november 14 2013. on february 14 2014 he received 250000 for the

  Demonstrate an understanding of the materials

Assume the role of Marketing Manager. Select a product (good or service) that is sold in the United States and has sales opportunities in a foreign market. Apply your critical thinking skills and the knowledge you have acquired throughout this cou..

  Depreciation expense using double-declining balance method

Calcuate the depreciation expense using the double-declining balance method for the first two years the equipment is owned.

  Compute the average collection period and free cash flow

Sales on account were $388,000. Sales returns and allowances amounted to $28,500. Compute the Average collection period and Free cash flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd