Question: Smith Company: Ratio and Difference Estimation Note: This problem uses the information presented in the previous question and extends the analysis to ratio and difference

Smith Company: Ratio and Difference Estimation

Note: This problem uses the information presented in the previous question and extends the analysis to ratio and difference estimation.

Use the replies presented in the preceding problem for this problem.

a. Use the ratio method to calculate:

(1) Projected misstatement.

(2) Estimated total audited value.

b. Use the difference estimation method to calculate:

(1) Projected misstatement.

(2) Estimated total audited value

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