Scott Duffney, CPA, has randomly selected and audited a sample of 100 of Will Marts accounts receivable Will Mart has 3,000 accounts receivable accounts with a total book value of $3,000,000 Duffney has determined that the accounts tolerable misstatement is $250,000 His sample results are as follow...

a The meanperunit method estimates the total value of the pop ...

Scott Duffney, CPA, has randomly selected and audited a sample of 100 of Will-Marts accounts receivable. Will-Mart

Question:

Scott Duffney, CPA, has randomly selected and audited a sample of 100 of Will-Mart’s Will-Mart has 3,000 accounts with a total book value of $3,000,000. Duffney has determined that the account’s tolerable misstatement is $250,000.
His sample results are as follows:
Average audited value $990
Average book value 998
Calculate the estimated audited value and projected misstatement using the:
(a) Mean-per-unit method.
(b) Ratio method.
(c) Difference method.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...