Define the terms (a) sampling risk, (b) tolerable rate of deviation, and (c) expected populationdeviation rate. How does the audit team assess or determine these factors?

Q: I don't understand question P1-64A

A: Balance Sheet at 31 June, 2019 of Brandon Hilton Realtor, Inc. is as follows:  

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A: Bond indenture: Its a written legal document.

Q: What is lapping? What procedures can auditors employ to detect lapping?

A: Lapping: It refers to a type of accounting fraud that involves the hiding of misappropriated or stol...

Q: Use the following information to answer Exercises E2- The following transactions occurred for Wilke ...

A: Journal entry: It is a book of original entry in which transactions are first to be recorded in the ...

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A: 1.  

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A:

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A:   Option B is correct.

Q: Accounting Question

A: Petty cash fund is a little amount of money available or kept aside for paying off small expenses in...

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A: Total Earning for employees per month = Earning per employee x Total no. of employees =$2,000 per em...

Q: Amortize Premium by Interest Method Shunda Corporation wholesales parts to appliance manufacturers. ...

A: A bond is a fixed pay instrument issued to represents to an advance made by a financial specialist t...

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A: Definition: Asset: Assets refer to the resources owned by the business, which are utilized in the co...

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A: Make or buy is a decision in which managers analyze the profits and costs, in case a good or part is...

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A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. Th...

Q: Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer ma...

A: Bond is a long-term financial instrument issued by a company for which the company pays interest to ...

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A: Umbrella Excess Liability policy refers to a liability insurance policy that safeguards the assets a...

Q: On January 1, 2021, the company obtained a $3 million loan with a 10% interest rate. The building wa...

A: Given: Loan on Jan 1 2021 = $ 3 million Interest rate = $ 10 % Expenses:  January 1, 2021 = $1,080,0...

Q: Fraud Opportunities. Simon Blank Construction Company has two divisions. The president (Chris Simon)...

A: Fraud is the act of deliberately conducting false reporting of facts, to acquire funds or property w...

Q: Sample Size Determination. Jule Phillips is examining the internal control of CowboyCompany and has ...

A: a. Note .Refer to sample size table

Q: Describe three ways in which liabilities are used to financebusiness activities.

A:

Q: During the most current year, XYZ Corp paid $55,240 in interest and $80,400 in dividends. In order t...

A: Workings: Cash flow to shareholders = Dividends paid - New equity raised

Q: ndirect Method— Preparing a Statement of Cash Flows Range Company has the following selected data fr...

A: Cash flow statement: Under this statement shown the inflow and outflow of the cash. This statement i...

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A: A typical calculation often used to discount or amortize a bond, is identified as the effective inte...

Q: Collecting Evidence in a Fraud Examination. A fraud examiner was called into a businessbecause of a ...

A: Hello, since your question has multiple parts we will solve the first question for you. If you want ...

Q: Weatherly Lumber Company processes wood pulp for manufacturing various paper products. The company e...

A: FIFO: First in First out.

Q: In what way can audit procedures be modified to address assessed fraud risks?a. Obtain more reliable...

A: Audit procedures are the methods and steps which an auditor performs when the process of auditing ta...

Q: Marin Company began operations on January 2, 2019. It employs 11 individuals who work 8-hour days an...

A: The compensated absence is referred to as the leave taken by the employee which is paid, i.e. it is ...

Q: “If a product is generating a loss, then it should be discontinued.” Do you agree? Explain.

A: Given statement is: If a product is generating a loss, then it should be discontinued. 

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A: Journal: Recording of a business transactions in a chronological order.

Q: which type of organization should be formed. Sharif, Henry, and Korb want to start a tech firm. They...

A: Limited liability: This is one of the distinct features of a corporation that describes that, the st...

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A: 1. Differential costs incurred because of addition of new client:

Q: The Bradford Company issued 10% bonds, dated January 1, with a face amount of $80 million on January...

A:   Given information Future value= 80,000,000 Number of years= 10 × 2= 20 Rate of interest= 12% ÷ 2= ...

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A: In order to decide whether to purchase the asset we need to find out the present value of cash inflo...

Q: Evaluate the moral intensity of the issues faced by Diem-Thi Le in her whistleblowing experience at ...

A:

Q: How can diff erences in accounting methods aff ect fi nancial ratio comparisons between companies, a...

A: Financial Ratios of a Company affect the statement of affairs which also relates to risks, profitabi...

Q: XYZ Company declared a $.25 dividend on common stock. (Pretend there are 1,000 common shares outstan...

A: Dividends declared = Common shares outstanding * Dividend per share

Q: Gibson Manufacturing Company (CMC) was started when it acquired $92,000 by issuing common stock. Dur...

A: Definition: Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a co...

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A: Fraud Brainstorming includes recording and inspecting all the details , observing like a fraudster a...

Q: Q4 Determine the quantity of each component necessary to produce 20 units of final assembly called a...

A: Bill of materials (BOM) is list of all the materials and their quantities required in the manufactur...

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A: A cycle indicating a set of business activities and its information processing operations that provi...

Q: A company had three stock transactions: January 1—Issues 100,000 shares of $0.01 par value common st...

A: Treasury stock: Treaseury stock are the shares which are bought back by the company from the open ma...

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A: The accounting information system is a computer-based system to record all the informationrelated to...

Q: This is a two part question

A: “Hey, since there are multiple questions posted, we will answer first question. If you want any spec...

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A: Inventories are the stocks of the goods maintained by a company that can either be in the form of fi...

Q: Gibson Manufacturing Company (CMC) was started when it acquired $92,000 by issuing common stock. Dur...

A: Calculation of product cost is as follows:  

Q: Which of the following ratios is used to analyze liquidity?a. Earnings per share.b. Debt-to-assets.c...

A: Liquidity is the ability of the organisation to pay off its short term obligations.