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!
In the audit of Price Seed Company for the year ended September 30, the auditor set a tolerable misstatement of $50,000 at an ARIA of 10%. A PPS sample of 100 was selected from an accounts receivable population that had a recorded balance of $1,975,000. The following table shows the differences uncovered in the confirmation process:
A. Calculate the upper and lower misstatement bounds on the basis of the client misstatements in the sample.
B. Is the population acceptable as stated? If not, what options are available to the auditor at this point? Which option should the auditor select? Explain.
Accounts Receivable per Records
Accounts Receivable per Confirmation
Follow-up Comments by Auditor
1.
$ 2,728.00
$ 2,498.00
Pricing error on two invoices.
2.
$ 5,125.00
-0-
Customer mailed check 9/26; company received check 10/3.
3.
$ 3,890.00
$ 1,190.00
Merchandise returned 9/30 and counted in inventory; credit was issued 10/6.
4.
$ 791.00
$ 815.00
Footing error on an invoice.
5.
$ 548.00
$ 1,037.00
Goods were shipped 9/28; sale was recorded on 10/6.
6.
$ 3,115.00
$ 3,190.00
Pricing error on a credit memorandum.
7.
$ 1,540.00
Goods were shipped on 9/29; customer received goods 10/3; sale was recorded on 9/30.
anita vasquez received 130000 from her mothers estate. she placed the funds into the hands of a broker who purchased
What do you think is the more accurate basis of accounting?
At the end of the 4 years, the equipment is sold for $6,000 when the tax basis of the equipment is $4,500. Income tax rate is 35%. The net cash flow from disposal is ?
gaucho company which is located in buenos aires argentina manufactures a component used in farm machinery. the
Prepare a monthly manufacturing overhead flexible budget for each increment of 3,000 direct labor hours over the relevant range for the year ending December 31, 2008.
vulcan companys contribution format income statement for june is given belowvulcan compatnyincome statementfor the
acquiring corporation transfers 5000 shares of its stock worth 300000 and land worth 50000 basis to acquiring 30000 for
what is meant by the term transferred-out cost? why does the transferred-out cost under the wa method include only one
In your words, describe operating leverage and how it might be useful to you.
according to many articles written on the subject the corporate world of the united states has been whacking away at
Leppard Corporation sells DVD players. The corporation also offers its customers a 2-year warranty contract. During 2012, Leppard sold 20,000 warranty contracts at $103.80 each.
during the year topaz corporation has u.s. source income of 2000000 and foreign source income of 1000000. the foreign
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