Assume that an account has the following characteristics: Number of items in the account-300 Recorded amount- ($
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Assume that an account has the following characteristics:
Number of items in the account-300 Recorded amount- \(\$ 600,000\)
Sample size-100 Required:
a. If the sample mean is \(\$ 1,800\) and mean estimation is used, the estimate of the account total is \(\$\)
b. If ratio estimation is used and (1) the recorded amount of the sample is \(\$ 200,000\) and (2) the audit amount of the sample is \(\$ 210,000\), the estimate of the account total is \(\$\)
c. If difference estimation is used and (1) the recorded amount of the sample is \(\$ 200,000\) and (2) the audit amount of the sample is \(\$ 195,000\), the estimate of the account total is \(\$\)
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Related Book For
Auditing An Assertions Approach
ISBN: 9780471134213
7th Edition
Authors: G. William Glezen, Donald H. Taylor
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