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!
You are the senior manager or audit engagement partner on Care For Kids Inc., a not-for-profit organization that has a December 31 year-end. While performing year-end substantive procedures, the engagement team identified an error in the entity’s year-end adjusting entries. Care For Kids Inc. had inadvertently not recorded an unrealized gain of $5 million in one of its many investment portfolios. The investments total approximately $200 million. Through inquiry of client management, the engagement team learned that the accounting department had not reviewed the broker’s statement for this particular portfolio. The portfolio, which consisted of traded securities, had increased in market value by $5 million. Materiality for the audit was $10 million.
As part of the audit, you must assess the operating effectiveness of controls related to the misstatement.
Required: The portfolio, which consisted of traded securities, had increased in market value by $5 million. Materiality for the audit was $10 million.
A Corp. reported $120,000 of net income and has outstanding 10,000 shares of $1 preferred stock, par of $50, and 50,000 shares of $100 par common stock. Illustrate what is the earnings per share?
Aberdeen Corp. uses activity-based costing system with three activity cost pools. The following cost information is provided: How much total cost would be allocated to the Assembly activity cost pool?
Describe general characteristics in an internal control structure that would increase an auditor’s assessment of control risk. Is there a quick list of some of these somewhere?
Find the budgeted direct-labor cost rate and find the budgeted indirect-cost rate assuming direct-labor cost is allocation base?
Find the difference between positive and normative economics? Which is more prevalent in today's economics? Why?
work in progress inventory on December 31, 2010, is expected to be 197,600. What is the budgeted cost of goods manufactured?
The president of Felde Company is under pressure from stockholders to increase net income by $103,350 in 2012. Calculate the number of units sold in 2011.
From the following selected data, compute - Total increase (decrease) in cash during the year
Identify which cost item above is fixed and variable and why and determine the cost per unit of each? what would be the total annual cost and unit cost of fixed and variable costs?
At that level Allen Company expects to sell 3,000 units next year. Illustrate what is Allen’s break-even point in units if it purchases the new equipment?
Evaluate the full unit product costs for Widgets and Gadgets using the traditional costing system and Find the full unit product costs for Widgets and Gadgets using the ABC system.
A company has capital of $200 million. It has an EROIC of 9%, forecasted constant growth of 5%, and a WACC of 10%. What is its value of operations? Illustrate what is its intrinsic MVA?
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