Question: For each error, concern, or adjustment you listed on the Audit Summary (schedule C 3), briefly describe at least one additional test you could perform

For each error, concern, or adjustment you listed on the Audit Summary (schedule C 3), briefly describe at least one additional test you could perform to gain evidence as to whether or not the cash account is materially misstated.

Step by Step Solution

★★★★★

3.41 Rating (164 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

There are four issues or possible concerns in the case that can be identified 1 The Balance per Bank Statement for Sunnydale Bank Co does not agree with the Cutoff Bank Statement or Bank Reconciliatio... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

841-B-A-A-P (2145).docx

120 KBs Word File

Students Have Also Explored These Related Auditing Questions!

As the partner in charge of the yearly audit of BCS, you are reviewing the audit work papers for inventory. Before you sign off on the audit, you need to determine that sufficient audit work was done...

As the partner in charge of the yearly audit for CWS, you are reviewing the audit work papers for the cash and investment accounts. Before you sign off on the audit, you need to determine that...

As the partner in charge of the yearly audit for Custom Manufacturing, you are reviewing the audit work papers for the Long-Term Debt and Owners' Equity accounts. Before you sign off on the audit,...

The cases in Section 9 each cover audit approaches for different balance sheet accounts and business processes. For this assignment, select three of these cases which appeals most to you and complete...

Wallys Billboard & Sign Supply, Inc. was founded four years ago by Walter Johnson. The company specializes in providing locations for sign and billboard advertising and has recently begun to enter...

Section 9 Auditing Cash, Fair Value, and Revenues REQUIRED Complete the audit program found on working paper C 2 , recording all your work on the audit program and marking the provided documents (...

complete the year 2020 tax problem with the forms provided (fille out the all the forms for problem, all fhe forms needed to fill out for the problem are provided) Individual Tax Return Required: Use...

1. List and define the four type of damages, which are usually determined by the jury 2. Terry O'Rourke, a 25-year old patient of Dr. Williams, refuses to take her medication to control diabetes and...

You can only answer part 16-1 (steps 2,3,5), 16-2, 16-3, 16-4, and evaluation. Thanks! A In this mini-case you will audit and evaluate documents such as bank confirmations and bank reconciliations in...

plz highlight answer in RED!!!!!!!!!!!!!! 93% COORECT ARE NEEDED!!!!!!!!!! if not, answer wil not accetpt!!!!!!!!!!!!!!! plz!!!!!!!!!! carefully answer Question 1 of 45 Which of the following...

a) Pursuant to the UCC, what is "breach of peace?" b) What is default? c) What does the secured party have the right to do when the debtor defaults?

An analysis of the payroll for the month of November for Projection Inc. reveals the information shown: *All regular time Hathaway, Kunis, and Portman are production workers, and Streep is the plant...

Big Fish Inc. is selling a 5 0 % - stake in its wholly - owned subsidiary called Little Fish Corp. through an initial public offering. This activity is an example of a / an _ _ _ _ _ _ _ _ _ ....

Who is/are the biotech firm's customers?

How will the conduct of an audit of a medium-sized company be affected by the company's being a small part of a large conglomerate as compared with it being a separate entity?

Define the audit risk model and explain each term in the model. Also describe which two factors of the model when combined reflect the risk of material misstatement.

What is meant by planned detection risk? What is the effect on the amount of evidence the auditor must accumulate when planned detection risk is increased from medium to high?

Healthcare Financial Management and Economics Week 9 Assignment-Budgeting and Variance Analysis Instructions The following are budgeted and actual revenues and expenses for a hospital Budgeted Actual...

You are given a cash flow diagram to determine the ROR by trial and error. After trying 4 different i* values, the following PW values have been obtained: Step 1: try i* = 5%, AW = $767 Step 2 = try...

Risk is not only measured in terms of losses, but also in terms of variability. The highest possible value for positive correlation is +1. Combining assets with highly correlated returns will greatly...