User Account

All Pages

Inventory of the wholeridge supply company

Assignment Help Auditing
Reference no: EM13885945

1.Included in the December 31, 2013, inventory of the Wholeridge Supply Company are 2,600 deluxe ring binders in the amount of $5,902. An examination of the most recent acquisitions of binders showed the following costs: January 26, 2014, 2,300 at $2.42 each; December 6, 2013, 1,900 at $2.28 each; November 26, 2013, 2,400 at $2.07 each. What is the misstatement in valuation of the December 31, 2013, inventory for deluxe ring binders, assuming FIFO inventory valuation? What would your answer be if the January 26, 2014, acquisition was for 2,300 binders at $2.12 each?

Reference no: EM13885945

Questions Cloud

Discuss anticipated changes to the landscape of networking : Discuss the anticipated changes to the landscape of networking architectures.
How you would promote one package over the other : Evaluate two different software packages and propose how you would promote one package over the other to the management committee. Provide specific examples to support your response.
What is the required head and discharge of water : What is the required head and discharge of water to be handled by the pump for the branching system? The flow in pipe3 is Q3 ¼ 40 L=s in the direction shown. Use HA ¼ 3 m, HB ¼ 11.5 m, HC ¼ 12 m, HD ¼ 10 m, R1 ¼ 1400 s2=m5, R2 ¼ 2000 s2=m5, R3 ¼ 1..
Risks associated with integrating a new ais system : Implementing a new AIS system could prove to be beneficial or detrimental to an organizations IT infrastructure. Assess the risks associated with integrating a new AIS system and suggest what management can do to minimize those risks.
Inventory of the wholeridge supply company : 1.Included in the December 31, 2013, inventory of the Wholeridge Supply Company are 2,600 deluxe ring binders in the amount of $5,902.
Determine discharge q : Oil (S ¼ 0.92) is pumped from a storage tank and discharges into a reservoir through a pipe whose length is L ¼ 550 m and diameter is D ¼ 350 mm. The pump efficiency is Z ¼ 80% and its power output is WW_ P ¼ 10 kW.
Explain the different types of contingent workers : Identify and explain the different types of contingent workers. Why might a company choose a contingent worker over a regular full time employee
Case study for strategic human resource management : A case study for Strategic Human Resource Management about Siemens Company and there is one question to answer about ethics.
Find the discharge for the following question : An oil pipeline (S ¼ 0.86) has three segments as shown, with a booster pump for each segment employed to overcome pipe friction. Reservoirs A and B are at the same elevation.

Reviews

Write a Review

Auditing Questions & Answers

  Accounting controls-corporate fraud

Given the increased emphasis on corporate fraud, should auditors be required to look aggressively for fraud factors like collusion, circumvention and management override? Why or why not?

  Discuss the nature of materiality and the basis

Discuss the relevance of the company policy to the firms' treatment of doubtful debts for the year ended 30/6/2013? How would the auditor determine whether the 30/6/2013 doubtful debts calculation for 2013 is reasonable?

  A number of corporate failures took place in australia and

a number of corporate failures took place in australia and united states between 2000 and 2002 causing major

  Relationship between risk and materiality

What is the relationship of risk and materiality? How are risk and materiality related? How are risk and materiality integrated into the audit process? What is an example of a statement that includes both risk tolerance and materiality?

  Limitations of the internal controls

What are some limitations of the internal controls of the business cycles at your organization? How would you address these limitations?

  Critique current auditing standards

Explain how a licensed CPA (as an outside auditor) could be of value to your company. Critique current auditing standards. Analyze the importance of ethics in the audit process.

  Risks with physically accounting for inventory

You are responsible for auditing a wholesale cosmetics distributor with an inventory consisting of thousands of individual items.

  You will then be required to audit cases available on flecs

you will then be required to audit cases available on flecs blackboard or 20 hospital records. when using the case

  Discuss the nature of audit evidence

Discuss the nature of audit evidence to be considered by the auditor in terms of the underlying accounting record, other corroborating information available to the auditor, and the methods by which the auditor tests or gathers competent evidence.

  Operational reviewer attributes

The operational reviewer typically has multiple personal attributes that make them and mold them into operational reviewer. List and describe at least three and tell why they are positive attributes for the operational reviewer.

  Submit a feasibility report

You are required to submit a feasibility report. At a minimum level, your feasibility report should contain the following generic sections:

  Discuss briefly the accounting irregularities found in enron

A number of corporate failures took place in Australia and United states between 2000 and 2002 causing major credibility crisis in the accounting and auditing profession. Discuss briefly the accounting irregularities found in ENRON and HIH's corpo..

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd