Question: Using ACL software* and the ACL practice project file Workbook.acl perform the following procedures: Required: A. Open the Accounts Receivable file (Ar.fil), then (1) Determine

Using ACL software* and the ACL practice project file “Workbook.acl” perform the following procedures:

Required:

A. Open the Accounts Receivable file (Ar.fil), then (1) Determine the number (count) of customers. (2) Find the customers who owe more than $5,000. (3) Perform Benford analysis.

B. Open the inventory file (inventory.fil), then (1) Count the number of inventory items. (2)

Determine the most expensive and least expensive item. (3) Find which products have a sales price less than the unit price.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

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

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Principles of Auditing Questions!

Select 2 companies in the same industry and go to each companys stock information page on finance.yahoo.com. Use the information stated under Statistics to help answer the following questions. (a)...

X Your answer is incorrect. Cullumber Company incurs these expenditures in purchasing a truck: cash price $23,600, accident insurance (during use) $2,310, sales taxes $1,062, motor vehicle license...

Un asesor financiero de Diehl Investments identific dosempresas que son candidatas probables para una adquisicin en unfuturo prximo. Eastern Cable es un fabricante lder de sistemas decables 0 answers

Attribute Sampling Problem 1 You have been assigned by the in charge auditor to test controls over accounts receivable, specifically, to determine credit authorization. P & P requires that the credit...

14-32 (Objective 14-5) As part of the engagement team for the audit of JA Tire Manufacturing for the year ended December 31, 2019, you are responsible for auditing the sales and collection cycle. If...

VIEW THE STEP-BY-STEP SOLUTION TO: Title: ABC Appliance Inherent Risk and Control Design Assessment Prepare Inherent Risks and Control Design Assessment. This course project/case... I.Title: ABC...

Chapter 9 Quiz Note : The material contained within these pages is taken directly from your textbook, Computerized Auditing Using ACL Data Analytics . Alterations were made only for formatting and...

From Exercise 9B-2, journalize the receipt of a check from Pearl Co. for payment of invoice no.1 on November 24. In Exercise 9B-2, 201X Nov. 16 Sold merchandise on account to Pearl Co., invoice no....

A client phones to ask you to explain the financial intermediation process as they were getting confused about the differences between mutual fund managers and stock brokers. They also ask whether...

what is Houstons free cash flow for all debt and equity holders for year 2 0 1 2 ? a . $ 5 6 4 B . $ 3 9 9 C . $ 3 2 4 D . $ 2 0 2

Assume you were given information regarding current ratios for three consecutive years. Can you determine the general condition of liquidity without calculating working capital? If the following...

What is the purpose of a financial statement audit by CPAs?

Briefly explain the difference between the CAPM and the Arbitrage Pricing Theory (APT).

Describe the accounting information system.

Q3 (Essential to cover) The optimal risky portfolio P* has an expected return of 12.5% and a standard deviation of 22%. The current risk-free rate in the market is 1.5%. a. Draw the capital...

Sales and Production Budgets Sonic Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, prepare (a) a sales budget and (b) a...

Issue Price The following terms relate to independent bond issues: a. 500 bonds; $1,000 face value; 8% stated rate; 5 years, annual interest payments b. 500 bonds; $1,000 face value; 8% stated rate;...