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While assessing the risk of material misstatement and determining the appropriate response with regard to the inventory of Computing Solutions Limited (Computing Solutions) for the 30 June 2020 audit, you become aware of the following information:
REQUIRED In the box below, provide your answers to the following questions:
Problem (a) Identify and explain the two key assertions at risk in relation to inventory, stating clearly the particular circumstances above that give rise to that risk.
Problem (b) Identify and describe two substantive audit procedures that you could perform in response to each risk identified above.
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Apac Construction Company purchased a forklift for $108,400 cash. It had an estimated useful life of four years and a $11,100 salvage value. At the beginning of the third year of use, the company spent an additional $9,330 that was related to the for..
prepare entries in general journal form to record the following transactions in general fund general ledger accounts
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Variable manufacturing costs per unit $103 Total fixed manufacturing costs ?$525,000 Variable marketing and administrative costs per unit $33
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