For each of the above items discuss any additional

Reference no: EM13588425

For each of the above items, discuss any additional disclosures in the financial statements and notes that the auditor should recommend to her client.Ace Inc. produces electronic components for sale to manufacturers of radios, television sets, and digital sound systems. In connection with her examination of Ace's financial statements for the year ended December 31, 2013, Gloria Rodd, CPA, completed field work 2 weeks ago. Ms. Rodd now is evaluating the significance of the following items prior to preparing her auditor's report. Except as noted, none of these items have been disclosed in the financial statements or notes.

Item2: Recently Ace interrupted its policy of paying cash dividends quarterly to its stockholders. Dividends were paid regularly through 2012, discontinued for all of 2013 to finance purchase of equipment for the company's new plant, and resumed in the first quarter of 2014. In the annual report, dividend policy is to be discussed in the president's letter to stockholders.

Reference no: EM13588425

Questions Cloud

Suppose that the group consists of six men and six women : problem 1.the drunken professor has a class of 34 students. he wants to divide them into seventeen pairs of partners

The bank account as a control device that helps to protect : the bank account as a control device that helps to protect cash. one of the requirements is to conduct periodic bank

Employability and professional development hican you please : hi ltbrgtcan you please help me with the attached assignment its total of 4000 words. ltbrgtand it needs to be based on

The resonant frequency of a certain series rlc circuit is : question the resonant frequency of a certain series rlc circuit is 3.88 khz and the value of its capacitance is 7.00

For each of the above items discuss any additional : for each of the above items discuss any additional disclosures in the financial statements and notes that the auditor

Installment sales450000 440000 cost of installment sales : charter corporation which began business in 2013 appropriately uses the installment sales method of accounting for its

A household pays 1850 per year for the supplied electricity : question a household pays 1850 per year for the supplied electricity. assuming the rate of 0.11 per kwh and 10 hours of

Flip enterprises produces miniature parasols each parasol : flip enterprises produces miniature parasols. each parasol consists of 1.20 of variable costs and .90 of fixed costs

Explain the significance of the return on equity ratio who : 1. name and briefly describe each of the four financial statements.2. briefly distinguish between financial accounting

User Account

All Pages