User Account

All Pages

Calculate the required sample size

Assignment Help Accounting Basics
Reference no: EM132830615

Adam William wishes to use mean-per-unit sampling to evaluate the reasonableness of the book value of the accounts receivable of Ebeco, Inc. Ebeco has l0,000 receivable accounts with a total book value of $1,500,000. Adam estimates the population's standard deviation to be equal to $25. After examining the overall audit plan, the auditors believe that the account's tolerable misstatement is $60,000, and that a risk of incorrect rejection of 5% and a risk of incorrect acceptance of 10% are appropriate.

Problem a. Calculate the required sample size.

Problem b. Assuming the following results: book value of items in sample $149; average audited value of items in sample $146; standard deviation of sample $28, use the ratio method to calculate:

1. Projected misstatement.

2. Estimated total audited value.

Reference no: EM132830615

Questions Cloud

Discuss specific items the auditors must communicate : Access AS 1301 Communication with Audit Committees. Discuss specific items the auditors must communicate with the audit committee before the audit begins.
Project management important in operations management : How is Project Management important in Operations Management? How is using PM tools beneficial in a professional life?
What did this cost you : This would typically lead to three separate overdraft charges of $32 each. What did this cost you
Analyze the importance of warehouses : Analyze the importance of warehouses and how to increase its productivity?
Calculate the required sample size : Calculate the required sample size. Adam William wishes to use mean-per-unit sampling to evaluate the reasonableness of the book value
Investigate the types of research methods used in the papers : Find research papers in your chosen professional field and investigate the types of research methods used in the papers. What questions are the studies.
Discuss importance of contracts in international management : What steps must a manager take to ensure a valid and enforceable contract?
Services marketing and pricing concepts : Communicate in a manner that is professional and consistent with expectations for members of the business profession.
Determine how many months will take to pay off : If starting next month, you pay $500/month on the loan, how many months will it take to pay it off? Express your answer in whole number.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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