Question: I need the help with this. Current Asset Account tolerable Misstatement below is what I have and the Current Assets are for 2011 332,024; for

I need the help with this. Current Asset Account tolerable Misstatement below is what I have and the Current Assets are for 2011 332,024; for 2012 379,900 percentage is 2 Dollare amount is 7,598 percentage is 7 dollar amount is 26,593: Then there is the Current Liabilities tolerable misstatement below is what I have and the Current liabilities are for 2011 181,088; 2012 194,700; percent 2; dollar amount 3,894; percent 7; dollar amount 13,629. Planning materiality level is lower litmit and upper limit.

Likelihood of Management Fraud (check one):

* Low Likelihood of Management Fraud

________ Reasonably Low Likelihood of Management Fraud

________ Moderate Likelihood of Management Fraud

Tolerable Misstatement (in thousands):

Planning Materiality:

Multiplication Factor (0.75 if low likelihood of management fraud, 0.50 if reasonably low likelihood of management fraud, and 0.25 if

moderate likelihood of management fraud).

$ _4,095_______

X .75

Tolerable Misstatement (in thousands)

$ _3,071.25____

Specific Accounts Requiring Lower Tolerable Misstatement:

Account

Tolerable Misstatement

Current Asset Accounts

________

Explanation:

Current Liability Accounts

________

Explanation:

Explanation:

Explanation:

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