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Question - Wally's Billboard and Sign Supply Company Limited. was founded three years ago by Walter Johnson. The company is now preparing to expand its business and has enlisted the help of your firm. Over the past two years your firm has provided audit and assurance services to Wally's Billboard and Sign Supply Company. You have been assigned to help with the annual audit along with Bill Thompson, a senior auditor. Your assignment is to conduct substantive testing of the company's cash balances. Bill has already conducted tests of controls of each of the company's transaction cycles and has assessed control risks as relatively low in these cycles. He has also inquired of management regarding any restrictions imposed by third parties on the use of cash. Management assured him that there are no such restrictions, but you plan to corroborate this response using bank confirmations. The client has three bank accounts, a general, payroll and an interest bearing account.
1. Identify four evidence that you would need to conduct the substantive test procedures. Indicate the level of reliability for each evidence.
2. Describe six audit procedures you should perform to compete the substantive test over the Wally's cash balances and match them with the appropriate assertions.
Case - Break-Evens for Individual Products in a Multiproduct Company. What is the company's over-all break-even point in dollar sales
In 2010, Wild Corporation reported a net loss of $70,000. Wild’s only net income adjustments were depreciation expense $81,000, and increase in accounts receivable $8,100.
The allowance for uncollectible accounts currently has a credit balance of $900. After analyzing the accounts in the accounts receivable subsidiary ledger, the company's management estimates that uncollectible accounts will be $15,000.
What is the definition of communication? What are the fundamentals of communication? What does communication mean to you personally
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for some companies property is a minor item and therefore the valuation process is not important. however for
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