Question: URGENT !!! PLEASE ANSWER THE FULL QUESTION AND PROVIDE VALID SOLUTION WITH DESCRIPTION Key to audit tick marks: Agrees to purchase invoice. Agrees to sales

 URGENT !!! PLEASE ANSWER THE FULL QUESTION AND PROVIDE VALID SOLUTION

URGENT !!!

PLEASE ANSWER THE FULL QUESTION AND PROVIDE VALID SOLUTION WITH DESCRIPTION

Key to audit tick marks: Agrees to purchase invoice. Agrees to sales invoice and receipt of payment. (c) Depreciation starting date appears reasonable. Auditor's Comments: - No issue from testing of additions. - Loss on disposal of item tested is not material and confirms relevance of depreciation rate used by company. Required ( 20 marks) a. What assertions are relevant to additions and disposals of PPE? Briefly explain the assertions in context to the additions and disposals of PPE. (10 marks) b. Review the details of the additions. Explain the difference between the two items, particularly with respect to depreciation. If there is any issue in the section, explain what the issue is and what implications it will have on financial statements. (4 marks) c. Review the details of the disposal. If there are any issues identify and correct them and explain their implications on the financial statements. (4 marks) d. Why is the auditor interested in the amount of the gain/loss? Explain the comment by the auditor about the disposal in the working paper. (2 marks)

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