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You are the auditor for a company and need to review the company's accounts receivable using probability proportional to size (PPS) sampling. In addition, the board of directors has requested that you and your team present an explanation of your PPS process at its next monthly meeting.Individual Portion:
Use the following company data and the PPS Sampling Tables 1 & 2:• The recorded book value of these accounts is $3,460,000. • The company has a tolerable error of $63,460. • The anticipated error is $13,000. • The risk of incorrect acceptance is 5%. • The acceptable number of overstatements of misstatements is 2.
Use probability proportional to size (PPS) sampling to do the following:A. Determine the reliability factor. B. Determine the correct expansion factor. C. Determine the sample size you should use. D. Determine the sampling interval you should use. This is a separate portion of the project. It needs to be on a separate sheet then the top portion.E. The objective of using probability proportional to size sampling (PPS) to test account balances F. Specifically, how you used PPS to test this company's account balances G. The purpose of the sample size and the sampling interval
Prepare the operating activities section of the business statement of cash flows for the year ended June 30, 2012, using the direct method.
the standard cost of item 285 manufactured by lemon company includes 3 pounds of direct materials at 6.00 per pound.
Calculate ending inventory, cost of goods sold, gross profit, and gross profit rate under each of the following methods.
what happens when a shareholder in a subchapter S corporation has losses and deductions allocated to him in excess of his basis in his corporate shares?
x company has two production departmentsa and b.at the start of the yearthe following budgeted information is
Red Corporation manufactures hand tools in the United States. For the current year, the QPAI derived from the manufacture of hand tools was $1 million. Red's taxable income for the current year was $1.5 million. Last year, Red had an NOL of $800,0..
The patent had a book value of $35,000. However, the technology covered by the patent appeared to have significant market potential. Thus, the patent was appraised at $280,000.
entries for asset acquisition including self-constructionbelow are transactions related to fred couples company.a the
Write a summary of asset treatment in a business. Examine the aspects of acquisition, depreciation, revising periodic depreciation, expenditures during useful life, and the three different means of disposal.
comanic corp. has common stock of 5400000 retained earnings of 2000000 unrealized gains on trading securities of 100000
xener inc. inc. did not pay dividends in 2009 or 2010 even though 49600 shares of its 7.2 70 par value cumulative
glen pool club inc. has a 150000 mortgage liabilty. the mortgage is payable in monthly installments of 1543 which
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