What is the the projected likely misstatement (PLM) for both cases (show detailed calculations). What approach...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
What is the the projected likely misstatement (PLM) for both cases (show detailed calculations). What approach of sampling would have been used here in your view? Population size (logical units Population size (accts. rec. total Sample size (logical units) Book value in sample Audited value in sample Case A Case B 1,500 customer accounts 1,500 customer accounts $300,000 $300,000 100 $23,466 $22,431 300 $62,095 $60,295 What is the the projected likely misstatement (PLM) for both cases (show detailed calculations). What approach of sampling would have been used here in your view? Population size (logical units Population size (accts. rec. total Sample size (logical units) Book value in sample Audited value in sample Case A Case B 1,500 customer accounts 1,500 customer accounts $300,000 $300,000 100 $23,466 $22,431 300 $62,095 $60,295
Expert Answer:
Answer rating: 100% (QA)
1 Calculate the projected likely misstatement PLM for both cases Where Total Audited Value The total ... View the full answer
Related Book For
Auditing Cases An Interactive Learning Approach
ISBN: 9780134421827
7th Edition
Authors: Mark S Beasley, Frank A. Buckless, Steven M. Glover, Douglas F Prawitt
Posted Date:
Students also viewed these accounting questions
-
C&A is a car manufacturer. If its days-of-supply decreases, what would happen to its annual inventory turns?
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Required a. Use professional judgment in deciding on the preliminary judgment about materiality for earnings, current assets, current liabilities, and total assets. Your conclusions should be stated...
-
4. Using Euler's method to solve following equation with time step of 1. dy = = 4t - 0.5y dt y(0)=2 You only need to write out three steps to get values of y(1), y(2), y(3). 5. Write your Euler's...
-
A geothermal supply of hot water at 500 kPa, 150C is fed to an insulated flash evaporator at the rate of 1.5 kg/s. A stream of saturated liquid at 200 kPa is drained from the bottom of the...
-
Bangles Corporation issued 5-year, 11% bonds with a face value of $300,000 on April 1, 2019. Assume that the bonds are sold for $318,000. Interest is paid semiannually at October 1 and April 1....
-
Derive equation (4.1) for the total sample of the two-sample t-test. Data from Equation 4.1 n = 2 40 (21-a/2 + 21-3)
-
During the first year of operation, 2012, Martin's Appliance recognized $292,000 of service revenue on account. At the end of 2012, the accounts receivable balance was $57,400. Even though this is...
-
! Required information [The following information applies to the questions displayed below.] Camille Sikorski was divorced in 2018. She currently provides a home for her 15-year-old daughter Kaly....
-
Supreme Videos, Inc., produces short musical videos for sale to retail outlets. The company?s balance sheet accounts as of January 1, the beginning of its fiscal year, are given on the following...
-
Sexton Corporation has projected the following sales for the coming year. Sales 01 $720 Q2 $ 840 Q3 $ 960 04 $ 930 Sales in the year following this one are projected to be 10 percent greater in each...
-
With the consumer price index rising at a faster pace, President-elect Donald Trump wants to slash taxes and boost infrastructure spending, which could cause inflation to rise further. Explain what...
-
Discuss all the advantages and disadvantages of starting a venture without prior experience.
-
What would be the effect of the first quarter budget surplus on real GDP and jobs? The federal government ran a surplus of $16 million for the first quarter of the 201718 fiscal year but projected a...
-
Analyze the impact of the arguments about millennials demand for different services.
-
The government of South Korea announced a $10 billion (11.2 trillion won) fiscal stimulus package. It will increase social welfare subsidies for maternity leave and for the healthcare needs of older...
-
Create a class Student with data members age and marks, both of type integer. Provide a parameterized constructor and a set member function to set the data members. The age should be a positive...
-
Transform the while loop from the previous exercise into an equivalent for loop (make sure it produces the same output).
-
Confirmations of accounts receivable play an important role in the accumulation of sufficient, appropriate audit evidence. One of the principal strengths of confirmations is that they provide...
-
The Runners Shop (TRS) was a family-owned business founded 17 years ago by Robert and Andrea Johnson. In July of 2018, TRS found itself experiencing a severe cash shortage that forced it to file for...
-
Wallys Billboard & Sign Supply, Inc. was founded four years ago by Walter Johnson. The company specializes in providing locations for sign and billboard advertising and has recently begun to enter...
-
Match the terms in the first column with an appropriate definition from the second column. Terms (a) Breakeven analysis (b) Sensitivity analysis (c) Risk analysis Definitions (1) Determining how the...
-
Cecils Manufacturing is considering producing a new product. The sales price would be \($10.25\) per unit. The cost of the equipment is \($100,000.\) Operating and maintenance (O&M) costs are...
-
The Fence Company is setting up a new production line to create top rails. The relevant data for two alternatives are shown below. a. Based on MARR of 8 percent, determine the annual rate of...
Study smarter with the SolutionInn App