Explain Audit data analytics in risk assurance

Q: his year, Sigma, Incorporated generated $656,000 income from its routine business operations. In…

A: Computation of Taxable income are as follows

Q: Regular Pay: $8.70 per hour Overtime Pay: 1.5X regular pay for hou 2X regular pay for Sund Hrs Rate…

A:

Q: Cari’s Manufacturing Company manufactures Tye Dye Special Garment (SG), using cotton and dye as…

A: The revenue budget is the budget prepared to estimate the revenue, the expected number of units to…

Q: On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $28,000 in…

A: As per standard accounting principals when we purchase any asset then all revenue expenses…

Q: BookPrintReferencesCheck my workCheck My Work button is now disabled1Item 5 Dacker Products is a…

A: Answer : Residual income = Department net operating income  - (Minimum required return on assets *…

Q: Bridgeport Company had 192,000 ordinary shares outstanding on December 31, 2022. During the year…

A: Net Income :— It is the difference between sales revenue and expenses.    Earning Per Share :— It is…

Q: Toxaway Company is a merchandiser that segments its business into two divisions—Commercial and…

A: Since you have asked for multiple sub-parts, we will do the first three sub-parts asked by you.…

Q: Question 10 A Php300,000 loan is to be amortized by paying equal amount every 6 months for a period…

A: When an individual or an organization finance a product or funds they have to pay an extra amount…

Q: Purse Corporation acquired 70 percent of Scarf Corporation’s ownership on January 1, 20X8, for…

A: The process of recording business transactions in the books of accounts for the first time is…

Q: On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 40 million,…

A: The stock split would not affect the overall capital of the company. It increases the number of…

Q: For the sinking fund, use Table 12-1 to calculate the amount (in $) of the periodic payments needed…

A: Sinking Fund: It is the specific amount of money,needed at some future date,is accumulated by a…

Q: A building acquired at the beginning of the year at a cost of $76,800 has an estimated residual…

A: The question is based on the concept of Depreciation Accounting. Depreciation is the decrease in the…

Q: Giovanna gave a note amounting to Php15,000 to Alessandro on October 12, 2011 which matures after 2…

A: Given Information: Present Value: Php15,000 Rate: 15% Number of months: 2  Future value: ? Note of…

Q: Diego Company manufactures one product that is sold for $75 per unit in two geographic regions-the…

A: BREAKEVEN POINT    Break Even Point is the point at which cost and income are equal and there is…

Q: Supplier Corp. enters into a government contract during the year to provide computer equipment for…

A: According to IFRS 15, Revenue should be recognized on the basis of Completion Method.  In completion…

Q: Exercise 20-25 (Algorithmic) (LO. 3) Townsend, the sole shareholder of Pruett Corporation, has a…

A: A capital gain is the increase in a capital asset's value and is realized when the asset is sold.…

Q: On January 1, 2025, Manatee Corporation sold a warehouse that cost $411,000 and that had accumulated…

A: Introduction: A fundamental idea in finance is the Time Value of Money (TVM), which holds that,…

Q: Suppose that General Motors Acceptance Corporation issued a bond with 10 years until maturity, a…

A: Bond is a borrowing security issued by the company to raise funds from the market by making an…

Q: Restaurant supply sells a walk- in refrigerator for $5250 while using a markup of 25% on cost. Find…

A: INTRODUCTION: The cost of a thing or service in a business is the sum of money spent on its…

Q: Cash Accounts receivable Inventories Total current assets Net fixed assets Total assets X Accounts…

A: Answer to the above first part a) statement showing the Computaton of NET INCOME Laiho Industries:…

Q: Ferdon Watches, Inc., makes four models of watches, Gag-Gift, Commuter, Sport, and Retirement.…

A: Information on cost per unit is required in order to determine price which should be charged from…

Q: Based on the fundamental principle of IAS2, identify two (2) circumstances where the NRV of…

A: The fundamental principles of IAS 2 are: 1) Recognition: Items should be recognized in the financial…

Q: Journalize the following transactions, using the direct write-off method of accounting for…

A: The process of recording business transactions in the books of accounts for the first time is…

Q: a. Deposited P120,000 in a bank account in the name of the business. b. Bought office equipment on…

A: The journal entries are prepared to record the transactions on regular basis. The assets and…

Q: Requirement 1. Prepare a comparative common-size income statement for Mariner Designs, Inc. using…

A: COMPARATIVE INCOME STATEMENT   Comparative income statements which show a company's income…

Q: The cash contributed by Gel into the partnership was ? what is B7*2?

A: Partnership refers to the agreement which is contractual in nature and it is formed by two or more…

Q: The CJ Partnership has two equal​ partners, Cory and Jack.

A: As per IRS rules any capital loss can be adjusted against capital gains.  With this basic…

Q: ABC Company sells clothes.  They sold a coat for $100.  It cost them $60 to get the coat from the…

A: COST OF GOODS SOLD    Cost of Goods Sold is Computed :—  Cost of Goods sold = Cost of Goods…

Q: Exercise 8-11 (Algo) Record gift card transactions (L08-4) Vall is one of the largest ski resorts in…

A: Journal entry for above transaction are as follows

Q: Determining cost of land On-Time Delivery Company acquired an adjacent lot to construct a new…

A: An asset is a resource with economic value that an individual, corporation, or country owns or…

Q: The management accountant of Mega Ltd, a local manufacturing firm, is currently preparing the…

A: Production Budget :— This budget is prepared to estimate the number of units produced or…

Q: A truck acquired at a cost of $60,000 has an estimated residual value of $2,000, has an estimated…

A: Business entities must record depreciation expense in their books of accounts in order to reflect…

Q: During Heaton Company’s first two years of operations, it reported absorption costing net operating…

A: Absorption costing and variable costing are defined as two method of calculating net profit. There…

Q: following: A: The significance of audit data analytics B: Audit standards and

A: The Data analytics played any important role because audit reason independent examination of data so…

Q: As of December 31, 2021, Warner Corporation reported the following:            Cash dividends…

A: calculation of effect of the sale of half of the treasury stock  are as follows

Q: PROBLEM 4-22 Basics of CVP Analysis; Cost Structure [LO1, L03, L04, L05, L05–6] Due to erratic sales…

A: As per the guidelines we can provide the answer of three sub part of any question .Answer for…

Q: Due in 9/19 in class Prepare a multiple-step income statement for 2024, excluding EPS disclosures.…

A: Income Statement :— It is one of financial statement that shows profitability of company during the…

Q: EP, a calendar year corporation, reported $918,000 net income before tax on its current year…

A: In this question we have to calculate the taxable income of SEP. It is given that - Net Income…

Q: LO 3.6 LO 3.7 LO 3.8 Surian Motors Company prepared a trial balance on the following partially…

A: Introduction: The aim of adjusted trial balance is that shows that all amounts of "debits" against…

Q: White Company has two departments, Cutting and Finishing. The company uses a job-order costing…

A: Predetermined Overhead Rate :— It is calculated by dividing total estimated Overhead by estimated…

Q: 3 Joe Mama starts a new business. The following transactions occur: 1 2 3 4 5 6 7 8 9 10 11 1/1/21…

A: All transactions may be first recorded in the journal as and when they occur; the record is…

Q: issuance on April 30, 2006. Which of the following options is the appropriate accounting treatment…

A: The number of questions which has been asked is the two questions but only one question is answered…

Q: Find the depreciation for the fourth year using MACRS​ cost-recovery rates for the property placed…

A: Depreciation = Cost x Depreciation Rate for the year

Q: On 1/1, $400,000 of specific accounts receivable of Annie's Animal Shop are assigned as collateral…

A:

Q: Vulcan Company’s contribution format income statement for June is as follows:   Vulcan Company…

A: Company Nothern Southern   $ $ $ Sales 900000 500000 400000 Variable expenses 400000 200000…

Q: A company uses the periodic inventory system. The company began the month with zero inventory…

A: Computation of cost of goods sold under FIFO method are as follows

Q: Question: 1) one of the advantages of operating a partnership business is that it has limited…

A: Partnership It is one of the forms of business organization under requires more than one person who…

Q: P4-1A Combat Fire, Inc. manufactures steel cylinders and nozzles for two models of fire…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: The above link pertains to 2021 annual report for the Walt Disney Company. Use the information…

A: Cash Flow statement is the statement that shows the inflow and outflow of cash in any business. This…

Q: I have found the variable portion (51.9%) but don't understand how to get the fixed portion in…

A: Calculation of fixed and variable portions of store cost based on revenues using high low method are…