Need help with an audit on fixed assets. Ive never done an audit on fixed assets to I have no idea what it would consists of.

\fDate: 26 JAN 2015 10:24:53 +0000 From: "Darlene Wardlaw" Subject: Fixed Assets They purchased quite a bit of computer equipment in the last couple of years. When you audit PP&E, let \"the Crumpler\" do most of the legwork (vouching invoices, examining cancelled checks, examining titles, etc.) for you. Given all of the recent additions, make sure that the depreciation amounts are correct. Apollo Shoes, Inc. Fixed Asset Detail Listing 12/31/2014 F-1 Prepared by Reviewed by Depreciation Expense PBC Fixed Asset Acquisition Tag Date A32767 A32766 A32768 A32769 A32764 Miscellaneous PC0001 PC0002 PC0003 PC0004 PC0005 PC0006 PC0007 PC0008 PC0009 PC0010 PC0011 PC0012 PC0013 PC0014 PC0015 PC0016 PC0017 PC0018 E00001 M0001 7/3/2011 9/1/2012 9/1/2012 9/1/2012 9/1/2012 2/1/2013 2/1/2013 2/1/2013 2/1/2013 2/1/2013 2/1/2013 2/1/2013 2/1/2013 2/1/2013 2/1/2013 2/1/2013 2/1/2013 2/1/2013 2/1/2013 2/1/2013 2/1/2013 2/1/2013 2/1/2013 2/1/2013 2/1/2013 2/1/2013 4/14/2014 7/6/2014 1/5/2014 Description Landrover Jaguar Landrover Landrover Landrover Land Building Office furniture Smart Chip 5 Ghz PC Smart Chip 5 Ghz PC Smart Chip 5 Ghz PC Smart Chip 5 Ghz PC Smart Chip 5 Ghz PC Smart Chip 5 Ghz PC Smart Chip 5 Ghz PC Smart Chip 5 Ghz PC Smart Chip 5 Ghz PC Smart Chip 5 Ghz PC Smart Chip 5 Ghz PC Smart Chip 5 Ghz PC Smart Chip 5 Ghz PC Smart Chip 5 Ghz PC Smart Chip 5 Ghz PC Smart Chip 5 Ghz PC Smart Chip 5 Ghz PC Smart Chip 5 Ghz PC Repair/Repaint original building New computing system Machinery Cost $45,000.00 $102,000.00 $51,000.00 $51,000.00 $51,000.00 $117,000.00 $623,905.92 $38,178.54 $5,279.93 $5,279.93 $5,279.93 $5,279.93 $5,279.93 $5,279.93 $5,279.93 $5,279.93 $5,279.93 $5,279.93 $5,279.93 $5,279.93 $5,279.93 $5,279.93 $5,279.93 $5,279.93 $5,279.93 $5,279.93 $50,408.00 $1,200,519.90 $1,295,359.98 $3,720,411.05 Estimated Useful Life 5 5 5 5 5 15 6 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 30 5 5 2011 2012 5000 $9,000.00 $6,800.00 $3,400.00 $3,400.00 $3,400.00 2013 2014 $9,000.00 $20,400.00 $10,200.00 $10,200.00 $10,200.00 $9,000.00 $20,400.00 $10,200.00 $10,200.00 $10,200.00 $38,127.58 $5,832.81 $1,613.31 $1,613.31 $1,613.31 $1,613.31 $1,613.31 $1,613.31 $1,613.31 $1,613.31 $1,613.31 $1,613.31 $1,613.31 $1,613.31 $1,613.31 $1,613.31 $1,613.31 $1,613.31 $1,613.31 $1,613.31 $41,593.73 $6,363.09 $1,759.98 $1,759.98 $1,759.98 $1,759.98 $1,759.98 $1,759.98 $1,759.98 $1,759.98 $1,759.98 $1,759.98 $1,759.98 $1,759.98 $1,759.98 $1,759.98 $1,759.98 $1,759.98 $1,759.98 $1,759.98 $1,260.20 $120,051.99 $185,051.43 $446,000.00 $5,000.00 $26,000.00 $133,000.00 Accumulated Depreciation $32,000.00 $47,600.00 $23,800.00 $23,800.00 $23,800.00 $0.00 $79,721.31 $12,195.90 $3,373.29 $3,373.29 $3,373.29 $3,373.29 $3,373.29 $3,373.29 $3,373.29 $3,373.29 $3,373.29 $3,373.29 $3,373.29 $3,373.29 $3,373.29 $3,373.29 $3,373.29 $3,373.29 $3,373.29 $3,373.29 $1,260.20 $120,051.99 $185,051.43 $610,000.01 Date: 3 FEB 2015 12:35:15 +0000 From: "Bradley Crumpler" Subject: PP&E I mean, do you ever work?!? So here is what I found out: According to Sam Shaw, the fixed asset coordinator, Apollo Shoes moved into new quarters and acquired new equipment in February 2013. Up to that time, Apollo purchased only a fleet of vehicles for key executives and rented everything else. (All of their salesmen rent cars on an as needed basis for visiting clients.) Since the move, there have been only three major capital additions: Apollo repaired damage to the new building from a hurricane in April. Also, the building was repainted at the same time. I examined an invoice from ZZZ Best Building Repair Company for $50,408.00 as well as the cancelled check. The company purchased and installed new machinery to make shoes themselves. Apparently, they have been buying all the shoes pre-made from an overseas company. The machinery was installed in January 2014, but hasn't yet been operated. They had hoped to start production in January 2015, although the machinery has not been operated yet. I examined an invoice for $1,295,359.98 as well as the cancelled check. Apollo purchased and installed a new computer system in July. I examined three invoices and related cancelled checks for $1,200,519.90. One was to Smart Chip for $1,000,000. One was to FastMove for moving services for $519.90. The third was to Professor Josephine Mandeville for $200,000 for \"system analysis consulting.\" I scanned the invoices in the Repairs and Maintenance account. Repairs and small capital additions (