Question: Request assistance with the following questions? QUESTION 1 Using problem 18-23 in the text, for Thibodeau Mines, Inc., the auditor should issue which type of

Request assistance with the following questions?

QUESTION 1

  1. Using problem 18-23 in the text, for Thibodeau Mines, Inc., the auditor should issue which type of audit opinion?

    a.

    Standard unqualified opinion with NO modified wording or explanatory language
    b.

    Unqualified opinion with modified wording or explanatory language
    c.

    Qualified opinion due to a scope limitation
    d.

    Qualified opinion or adverse opinion due to failure to follow GAAP
    e.

    Disclaimer of opinion

5 points

QUESTION 2

  1. Using problem 18-23 in the text,, assuming the Walker Computers case is properly disclosed in the notes to the financial statements, the auditor should issue which type of audit opinion?

    a.

    Standard unqualified opinion with NO modified wording or explanatory language
    b.

    Unqualified opinion with modified wording or explanatory language
    c.

    Qualified opinion due to a scope limitation
    d.

    Qualified opinion or adverse opinion due to failure to follow GAAP
    e.

    Disclaimer of opinion

5 points

QUESTION 3

  1. Using problem 18-23 in the text, for Worcester Wool Mills., assuming all periods reported on are now using the FIFO method to value the inventory instead of current market prices, the auditor should issue which type of audit opinion?

    a.

    Standard unqualified opinion with NO modified wording or explanatory language
    b.

    Unqualified opinion with modified wording or explanatory language
    c.

    Qualified opinion due to a scope limitation
    d.

    Qualified opinion or adverse opinion due to failure to follow GAAP
    e.

    Disclaimer of opinion

5 points

QUESTION 4

  1. Using problem 18-23 in the text, for Gas Leak Technology, assuming the change in the lives of the assets is disclosed in the notes to the financial statements, the auditor should issue which type of audit opinion?

    a.

    Standard unqualified opinion with NO modified wording or explanatory language
    b.

    Unqualified opinion with modified wording or explanatory language
    c.

    Qualified opinion due to a scope limitation
    d.

    Qualified opinion or adverse opinion due to failure to follow GAAP
    e.

    Disclaimer of opinion

5 points

QUESTION 5

  1. Using problem 18-23 in the text, for Brannon Bakery Equipment, the auditor should issue which type of audit opinion?

    a.

    Standard unqualified opinion with NO modified wording or explanatory language
    b.

    Unqualified opinion with modified wording or explanatory language
    c.

    Qualified opinion due to a scope limitation
    d.

    Qualified opinion or adverse opinion due to failure to follow GAAP
    e.

    Disclaimer of opinion

5 points

QUESTION 6

  1. Using problem 18-23 in the text, for Jay Rich, CPA, the auditor should issue which type of audit opinion?

    a.

    Standard unqualified opinion with NO modified wording or explanatory language
    b.

    Unqualified opinion with modified wording or explanatory language
    c.

    Qualified opinion due to a scope limitation
    d.

    Qualified opinion or adverse opinion due to failure to follow GAAP
    e.

    Disclaimer of opinion

5 points

QUESTION 7

  1. Using problem 18-23 in the text, for Ramamoorthi Savings & Loan's, the auditor should issue which type of audit opinion?

    a.

    Standard unqualified opinion with NO modified wording or explanatory language
    b.

    Unqualified opinion with modified wording or explanatory language
    c.

    Qualified opinion due to a scope limitation
    d.

    Qualified opinion or adverse opinion due to failure to follow GAAP
    e.

    Disclaimer of opinion

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:

i need this by early morning. His mother later remarried--a fellow named MacAdam--and Johnny grew up in his stepfather's home with his mother, stepfather, sisters, brothers, and the stepfather's...

Q:

Plz answer questions, highlight in red, and at least 93% correct, otherwise answer will be deny!!! plz really carefully working in it!!!!!!!!! plz!!!!!!!!! if you cannot make that correct, don't take...

Q:

CHAPTER ONE INTRODUCTION 1.1 Background to the Study Auditors are the third pair of eyes for people who use financial statements ( Uzuh,2008). The audit provides users of the financial statements...

Q:

Highlight the right answers in colors ,make sure I,ll get more than 95% Question 1 of 45 All of the following statements are true, except: A tendency for fraud may exist when the granting of stock...

Q:

1) Given that a firm is being sued for $12 million over a major product liability claim. Describe the conditions under which GAAP would require the firm to: Hint: You are not to decide which of the...

Q:

Part I For each of the following independent situations, indicate the type of nancial statement audit report that you would issue and briey explain your reasoning. Assume that each item is at least...

Q:

AUDITING AND ASSURANCE SERVICES - QUESTION 12 & 13 - PLEASE AND THANK YOU! (BOTH QUESTION ANSWERS MUST BE 100-200 WORDS LONG) 12. You purchased a company's stocks and you suffered a big loss as a...

Q:

I need help for writing these reports, please see attachments, thanks! ISSUES IN ACCOUNTING EDUCATION Vol. 29, No. 4 2014 pp. 577-586 American Accounting Association DOI: 10.2308/iace-50890...

Q:

I need some assistance with this worksheet Please and Thank you. I JUST NEED THE ANSWERS FOR THEM THANK YOU THEY ARE 5 SECTIONS WITH A TOTAL OF 15 QUESTIONS Question 1 of 15 1. A small consulting...

Q:

second year auditing Background information - Q1 You are a final-year registered candidate auditor at Zolani Paulina and Khabzela Inc (ZPK), a Johannesburg-based firm of registered auditors. Your...

Q:

a. Suppose you want to buy 10,000 shares of MegaWorld Corporation at a price of 4.00 You put up P10,000 and borrow the rest. What would your account balance sheet look like? What is your margin? b....

Q:

Among the items reported on Neal Corporations income statement for the year ended December 31, year 3, are the following: Interest received on municipal bonds $10,000 Penalties and related interest...

Q:

The following facts will remain the same for all questions this is used on: Sally contributes a Warehouse & its loan balance to Brown Partnership. Sam contributes an Office & its loan balance to...

Q:

Exercise 1-4 Fixed and Variable Cost Behavior (LO1-4] Espresso Express operates a number of espresso coffee stands in busy suburban malls. The fixed weekly expense of a coffee stand is $1,200 and the...