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Q. If Kiner Company issues 3,000 shares of $5 par value common stock for $70,000, the accounta. Paid-in Capital in Excess of Par Value will be credited for $15,000.b. Common Stock will be credited for $15,000.c. Paid-in Capital in Excess of Par Value will be credited for $70,000.d. Cash will be debited for $55,000.
Audit Function The audit functions as follows as: 1. To verify the estimation of timing differences; 2. To ensure such permanent differences have not been got into accou
what is internal audit standardizes.
Meaning of the auditing definition a) Orderly and efficient manner: An organization which is run in an orderly and proficient manner is able to satisfy the requirements o
Checking Consolidation Papers The auditor pays particular concentration to the calculation of: a) Goodwill arising on consolidation and acquisition b) Post-acquisition a
As a senior in a professional services firm, you have been assigned to plan the financial statement audit of a private company named Toy Local Corporation (TLC). In addition, the p
Leasehold Property - Audit Process Exactly the same process is adopted for leasehold buildings and land as applied about freehold buildings and land except in the matter of de
Communication with Expert Whether the auditor intends to utilize the work of an expert then he must communicate along with the expert well in advance to confirm the terms of e
Existence of Debtors - Audit Process The easiest technique to establish the existence of a debtor is to enquire the debtor if he exists. This is done through use of a practice
list four assertions that relate to account balances
The most effective means for an AUDITOR to confirm his understanding how internal control over financial reporting is designed and operates to test and evaluate its effectiveness.
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