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1. Evaluate the child credit for the subsequent taxpayer. Apple and James (who file a joint return)have two dependent children and 120,400 AGI. I tried 120,400-110,00(limit)=10,400/1000=10.4*50=520 said it was wrong, I also round the 10.4 to 10*50 for 500 also wrong. 2. Adoption expenses Jenny and Carl adopt a Russian orphan. The adoption takes two years and two trips to Russia and is final in 2012.They pay $6,000 in 2011 and $7500 n 2012 of qualified adoption expenses, and have AGI of 200,500. How much credit would they claim? Tried 200,000-189710(limit)=10,290/40,000=0.25725*13500=10027 -wrong also tried max of 12500 also wrong.
What are some of the pros and cons of segregation of duties over cash? What control violations might a bank statement highlight?
A Business report identifying auditing procedures and practices
There are five types of audit tests. List one audit test and describe at least two types of evidence that may be obtained from this test.?
What potential risks may be present in this engagement? What specific auditing and accounting problems appear to exist? What additional information do you feel you need to know about the company? Do you believe the engagement should be accepted or re..
You have received the bank statement for your company's account and need to reconcile it with your cash T-account. Your records show an ending balance for the month of $12,722.40 while the bank's records show an ending balance of $12,367.16.
On September 1, 2011, Triton Entertainment borrowed $24 million cash to fund a new Fun Park. The loan was made by Nevada Bank under a non-committed short-term line of credit arrangement. Prepare journal entry for the issuance of the note by Triton.
Knowing that my company 2007 audit will include attestation services, I want to know more about what attestation services encompass and what my team and I can do to prepare for this service.
Identify four types of control mechanisms (ways controls are applied) used in Wal-Mart organization. Compare and contrast these control mechanisms. Determine the effectiveness of these control mechanisms.
Explain the control principle of independent internal verification. What practices are important in applying this principle?
Show audit areas that have the highest risk for potential litigation and liability for public accounting firms and prepare two best practices for public accounting firms to minimize the risk to liability exposure.
What is the length of the channel the bank uses to distribute its own checking account products? How would you describe the channel positioning of People's Bank? What is People's unique selling proposition (USP) OR unique value proposition?
Accounts Receivable had a blalance of $5400 the beginning of the month and $2,200 at the end of the month. Credit sales totaled $30,000 during the month. Assuming that all sales were made
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