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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.
Disclosure Requirements - Investment In common terms, the following items have to be disclosed in the concern to all investments: (a) The accounting policies about:-
Management Representations as a Source of Audit Evidence International Standard on Auditing as abbreviated ISA 580 Management Representations gives guidance and standards on t
Factors Affecting Statistical Technique Factors to be taken into concern before adopting statistical techniques as: a) The number of clients to whom it is appropriate since
Sundry Debtors and Loans Sundry debtors and loans are not generally material assets of companies another than those companies whose business is to create loans. We shall cons
With internal audit we always require to be careful of any manipulations within the company itself. Errors & frauds within the company cannot be denied /overlooked at any cost.
Reporting to the members Except the faults and irregularities outcome in the accounts not giving an accurate and fair view, or do not conform to statute, or appropriate books h
Case Study: You have commenced work as a graduate auditor with a well established audit firm. The firm has a wide client base, which includes some of the largest companies in t
Framework of critical thinking principles (a) Identify the key steps in this framework/ concept. (b) Briefly explain each of the key steps, in your own words. Ans: Thin
Qualities for Final Accounts The qualities needed of the final accounts: the final accounts must possess specified qualities and these are: a) Utilize of acceptable account
Existence - Plant and Machinery However this should generally be checked through physical inspection, so a problem arises. Items of machinery and plant can be numerous mobile
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