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Baker is an auditor for ABC Company. As part of a proactive fraud audit (using CAATs), Baker runs the following tests: (1) a review of the sales register for dormant customer accounts that posted a sale within the last two months; and (2) a comparison of the sales register and shipment register for shipping documents that have no associated sales order.
Taken together, what type of noncash scheme is Baker most likely looking for or finds with these tests? Explain how each might identify fraud.
Prepare a schedule of adjustments as of December 31, 2012, to the initial amounts per Dimitri's accounting records - The freight charges were not included in either the inventory or in accounts payable at December 31, 2012.
In addition, the company had outstanding all year a 10%, 3-year, $4,000,000 note payable and an 11%, 4-year, $7,500,000 note payable. What are weighted-average accumulated expenditures?
Goods shipped FOB destination on June 28,2011, from a vendor to gordon were receive on july 3,2011. The invoice cost was $2,500. What amount should gordon report as inventory on its June 30,2011, balance sheet?
Brian and Sandy are forming a partnership. Brian will invest a truck with a book value of $10,000 and a fair value of $14,000. Sandy will invest a building with a book value of $30,000 and a fair value of $42,000 with a mortgage of $15,000. What amou..
Discuss the cost hierarchy categories. Why do we categorize cost this way, discuss the importance of making a budget and discuss the reason for budgeting in multinational companies.
Compute the cost of civilian and military versions of Model KV10 using both direct labor dollars and machine hours as alternative allocation bases. Explain why Pelton Instruments may decide to use direct labor as an overhead allocation base.
likely level of long-term debt and equity financing.miletkov companys total assets fluctuate between 320000 and 410000
Calculate the quick ratio based on the following information: cash = $14,870; accounts receivable = $22,108; prepared = $3010; supplies = $927; equipment = $62,150; accumulated depreciation = 13,750; accounts payable = 28,000. Round to two decimal pl..
Suppose you were starting a graphics printing business. It will cost you $2000 for a computer and commercial ink jet printer. What is your breakeven? You want to consider a color laser printer instead of an ink jet. The fixed costs would be $4000 and..
How many ordinary shares were outstanding at April 3, 2010, and March 28, 2009?1) What cash outflow obligations related to the repayment of long-term debt does M&S have over the next 5 years?
a meeting of senior managers at the pringly division has been called to discuss the pricing strategy for a new product.
computation of value of mortgage.kim and dan bergholt are both government workers. they are considering purchasing a
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