Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - You are conducting the audit of Advanced Technology Ltd (Advanced Technology) for the year ended 30 June 2019. Advanced Technology is a manufacturer of computer components. Your audit manager has asked you to carry out audit checks on cut-off at year end. Advanced Technology maintains details of stock quantifies on its computer. These stock quantities are updated from goods received notes and sales invoices. Advanced Technology conducts a 'wall-to-wall' count of inventory, whereby all operations cease and they count all inventory in a single stocktake.
You have noted the following risks of potential misstatement:
(i) Due to poor labelling procedures, some empty containers may be included in the inventory count.
(ii) Obsolete and damaged security alarm components may have been overlooked in the warehouse.
(iii) The lower of cost or net realisable value method may have been incorrectly applied.
There are no relevant control activities that could prevent these potential misstatements from occurring.
Required -
(a) Identify the one assertion for each of the situations.
(b) List one procedure that you could use to audit the assertions identified in (a).
a box mass m1 kg lies on a smooth horizontal table. it is connected by a light inextensible string which passes over a
This job required 240 machine-hours and incurred direct materials cost of $350 and direct labor costs of $1,250. What the unit product cost for Job F2412
your family members know you are taking this class and you learned about time value of money. four of them came
Calculate cost of goods sold using the Specific Identification method. Assume the March 9 sale consisted of 40 units form beginning inventory
Explain why the uncollectible accounts expense amount is different from the amount that was written off as uncollectible.
A firm has net working capital of $540. Long term debt is $3,410, total assets are $5,340 and fixed assets are $3,720. What is amount of the total liabilities
Neville Ltd enters into a contract to sell boat products to Patton Ltd for $300,000. Prepare the journal entries by Neville Ltd
Prepare a selling and administrative expense budget for November
Prepare a statement of comprehensive income on an all-inclusive basis. Prepare the statement of changes in shareholders equity
Compute Relix's total provision for income tax reported in its financial statements, and determine its book net income after tax.
What is the amount of cash received from customers if Holly's sales were $50.2 million
Journalize the five entries that adjusted the accounts at March 31, 2010. None of the accounts were affected by more than one adjustingentry.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd