Question: Per the facts/information below calculate the sampling interval:_________. Tolerable misstatement $1,000 Sample size 25 Expected misstatement $500 Book Value of accounts receivable $75,000 Number of

Per the facts/information below calculate the sampling interval:_________.

Tolerable misstatement

$1,000

Sample size

25

Expected misstatement

$500

Book Value of accounts receivable

$75,000

Number of accounts in the population

750

100

20

30

1,000

3,000

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 Accounting Questions!

Q:

Per the facts below Based on the information below the sampling interval is ______. Tolerable misstatement $ 1,000 Sample size 25 Expected misstatement $ 500 Book Value of accounts receivable $25,000...

Q:

Edwards has decided to use monetary unit sampling (MUS) in the audit of a clients accounts receivable balance. Few, if any, misstatements of the account balance are expected. Use the MUS Excel...

Q:

Data Analytics Case Edwards has decided to use monetary unit sampling (MUS) in the audit of a client's accounts receivable balance. Few, if any, misstatements of the account balance are expected. Use...

Q:

Biltrite Bicycles' recorded additions to factory equipment increased approximately 20% from 2019 to 2020. The recorded additions for 2020 totaled $9,000,000. Although controls over factory equipment...

Q:

Assume that you are preparing to confirm accounts receivable at December 31, 2022, which is one month prior to the fiscal year-end of January 31, 2023. The book value of gross accounts receivable is...

Q:

*** I need help with the Nonstatistical Evaluation of Errors and Statistical Evaluation of Errors Using the IDEA Monetary Unit Sampling *** Required information In this mini-case you will complete...

Q:

94-13 Edwunds has decided to use monetary unit sampling (MUS) in the audit of a client's accounts receivable bulance. Few. ir any mistatements of the account balance are expected Edwards plans to use...

Q:

In-Class Team Case 9A-13. Edwards has decided to use monetary unit sampling (MUS) in the audit of a client's accounts receivable balance. Few, if any, misstatements of the account balance are...

Q:

9A-14. Edwards has decided to use monetary unit sampling (MUS) in the audit of a clients accounts receivable balance. Few, if any, misstatements of the account balance are expected. Edwards plans to...

Q:

A 65 B 78 C 60 D 96 A 30 B 142 C 122 D54 An auditor planning tests of controls specifies a risk of assessing control risk too low of 10% and a tolerable deviation rate of 5% and expects one...

Q:

Companies that have adopted meaningful corporate values, all followed four basic imperatives in creating and implementing their values. Discuss (refer to the article, "Make your values mean...

Q:

The last constituent to fail in fiber-reinforced composites is O both matrix and fiber because they fail at the same time O the matrix O the fibers O usually cannot be determined

Q:

Use the method discussed under "Homogeneous Equations" to solve Problems 9 - 1 6 . 9 . ( x y + y 2 ) d x - x 2 d y = 0 1 0 . ( 3 x 2 - y 2 ) d x + ( x y - x 3 y - 1 ) d y = 0 1 1 . ( y 2 - x y ) d x...

Q:

Scenario: A Multi-national Corporation called The Globe has created a subsidiary called Thirst in an under-developed country called non-potable waters. This hosting country suffers from a severe...

Q:

b. Explain how you initially felt about the communication.

Q:

3. Identify the methods used within each of the three approaches.

Q:

a. When did your ancestors come to the United States?