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!
Group project journey #8. Please assist with Orbon Inc.
For several years Orbon, Inc., has followed a policy of paying a cash dividend of $0.71 per share and having a 3% stock dividend. In the 2014 annual report, Orbon reported restated earnings per share for 2012 of $1.12.
a. Calculate the originally reported earnings per share for 2012. (Do not round your intermediate calculations and round your final answer to 2 decimal places.)
b. Calculate the restated cash dividend per share for 2012 reported in the 2014 annual report for comparative purposes. (Do not round your intermediate calculations and round your final answer to 2 decimal places.)
Prepare a two-page audit critique, and include each of the following: Briefly describe the purpose of the audit (identify the type of audit). Briefly describe the method(s) used during the audit
When assessing the tolerable deviation rate, the auditor should consider that, while deviations from control procedures increase the risk of material misstatements, such deviations do not necessarily result in misstatements.
What costs are a firm trying to balance when it decides on how much safety stock to hold? What are some accounting changes that a firm should make if it decides to implement a JIT inventory management system? Why are those changes necessary?
Explain the economic benefits provided by a financial statement audit. Explain the inherent limitations that might prevent auditors from finding every potential material misstatement in financial statements.
Spacer Company has 2 service departments and two operating departments. Budgeted costs and budgeted activity in the several departments
Determine the total estimated uncollectibles. Prepare the adjusting entry at March 31 to record bad debts expense.
Discuss what you believe to be the most sgnificant audit risk in an economic downturn. Based on the risk identified above, discuss how an auditor can minimize exposure related to this risk.
What is meant by planned detection risk? What is the effect on the amount of evidence the auditor must gather and evaluate when planned detection risk is increased from medium to high?
What was the total amount of bad debts expense recognized during the year? Explain the term "net realizable value" as it relates the presentation of Accounts Receivable on the Balance Sheet.
A credit memo in the bank statement shows a bank collection of a note for $1,300 with interest received of $16. This item was dated 18th May.
Lenter Supply Corp. is a medium-sized distributor of wholesale hardware supplied in southern Manitoba. It has been a client of yours for several years and has instituted excellent internal control for sales at your recommendation.
Verna's makes all sales on account, subject to the following collection pattern: 25% are collected in the month of sale; 60% are collected in the first month after sale; and 15% are collected in the second month after sale.
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