ABC Client Preliminary Analytics - PBC Trial Balance December 31, 2019 Scope: Performance Materiality $210,000 and...

  

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ABC Client Preliminary Analytics - PBC Trial Balance December 31, 2019 Scope: Performance Materiality $210,000 and 10% 12/31/19 Balance 12/31/18 Account Class Balance Variance * Varlance Cash 1,940,636 2,872,029 Investments Accounts Receivable 17,884,359 1,739,185 Inventory Prepaids and Other Assets Fixed Assets 14,037,877 2,370,540 3,496,421 2,619,477 2,278,220 3,046,824 2,049,917 4,723,026 (873,950) (1,049,324) (1,805,961) (5,541,772) (1,000,000) (5,000,000) 1,727,017 Intangibles Current Portion of Debt 1,942,348 (854,270) Accounts Payable Accruals and Other Liabilities (1,233,888) (2,455,747) (6,415,722) (1,000,000) (5,000,000) (1,384,240) (4,564,183) (37,995,152) Long Term Debt Common Stock APIC AOCI 681,275 (10,721,842) (38,567,154) 18,223,005 Retained Earnings Revenues Cost of Goods Sold 17,911,437 Other Income (1,324,646) 10,392,187 699,100 372,887 1,854,028 (1,684,417) SG&A 11,685,148 Depreciation Interest Expense 678,100 460,337 Income Tax Expense 2.786,888 MacBook Air Page < of 2 Total Assets Total Libilities Total Equity Net Income Gross Profit % Sele What evidence should be used/obtained in completing the following tasks? 1 Auditor would lke to verify the amount of cash in the Fifth Third Bank operating account at December 31, 2019 2 Auditor would lke to see that client is in fact building a new headquarters 3 Auditor would like to determine whether the inventory quantities are appropriate 4 Auditor would like to determine whether the assigned inventory costs per unit are appropriate 5 Auditor needs to determine the current portion of debt 6 Auditor needs to get an understanding of the inventory controls in place for receipt of goods 7 Auditor would like to understand why sales declined so much during the year 8 Auditor would like to gain a further understanding of how the client calculates their allowance for doubtful accounts 9 Auditor would like to determine whether the client correctly catagorited the AR Aging 10 Auditor would like to compare production volumes in order to gather expectations for auditing inventory ABC Client Preliminary Analytics - PBC Trial Balance December 31, 2019 Scope: Performance Materiality $210,000 and 10% 12/31/19 Balance 12/31/18 Account Class Balance Variance * Varlance Cash 1,940,636 2,872,029 Investments Accounts Receivable 17,884,359 1,739,185 Inventory Prepaids and Other Assets Fixed Assets 14,037,877 2,370,540 3,496,421 2,619,477 2,278,220 3,046,824 2,049,917 4,723,026 (873,950) (1,049,324) (1,805,961) (5,541,772) (1,000,000) (5,000,000) 1,727,017 Intangibles Current Portion of Debt 1,942,348 (854,270) Accounts Payable Accruals and Other Liabilities (1,233,888) (2,455,747) (6,415,722) (1,000,000) (5,000,000) (1,384,240) (4,564,183) (37,995,152) Long Term Debt Common Stock APIC AOCI 681,275 (10,721,842) (38,567,154) 18,223,005 Retained Earnings Revenues Cost of Goods Sold 17,911,437 Other Income (1,324,646) 10,392,187 699,100 372,887 1,854,028 (1,684,417) SG&A 11,685,148 Depreciation Interest Expense 678,100 460,337 Income Tax Expense 2.786,888 MacBook Air Page < of 2 Total Assets Total Libilities Total Equity Net Income Gross Profit % Sele What evidence should be used/obtained in completing the following tasks? 1 Auditor would lke to verify the amount of cash in the Fifth Third Bank operating account at December 31, 2019 2 Auditor would lke to see that client is in fact building a new headquarters 3 Auditor would like to determine whether the inventory quantities are appropriate 4 Auditor would like to determine whether the assigned inventory costs per unit are appropriate 5 Auditor needs to determine the current portion of debt 6 Auditor needs to get an understanding of the inventory controls in place for receipt of goods 7 Auditor would like to understand why sales declined so much during the year 8 Auditor would like to gain a further understanding of how the client calculates their allowance for doubtful accounts 9 Auditor would like to determine whether the client correctly catagorited the AR Aging 10 Auditor would like to compare production volumes in order to gather expectations for auditing inventory