State that the misstatement identified in 2017 affect net income, asset, liabilities, and equity in 2017.

Question

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Answer 1

Question

Chapter 11, Problem 60EP

a.

To determine

State that the misstatement identified in 2017 affect net income, asset, liabilities, and equity in 2017.

b.

To determine

Explain the rollover method of calculating the uncorrected misstatements and describe the manner through which Mr. C evaluate the materiality of the misstatement under the rollover method. Also, explain the adjustments if any that would Mr. C propose to M’s financial statements.

c.

To determine

Explain the iron curtain method of calculating the uncorrected misstatements and describe the manner through which Mr. C evaluate the materiality of the misstatement under the rollover method. Also, explain the adjustments if any that would Mr. C propose to M’s financial statements.

d.

To determine

Examine the method through which Mr. C evaluate the performance materiality of the $100,000 sales cutoff error in 2017 under the rollover method and iron curtain method.

e.

To determine

Identify the adjustments (if any) in financial statement propose by Mr. C, under roll over method and iron curtain method.

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Answer 2

Question

Chapter 11, Problem 60EP

a.

To determine

State that the misstatement identified in 2017 affect net income, asset, liabilities, and equity in 2017.

b.

To determine

Explain the rollover method of calculating the uncorrected misstatements and describe the manner through which Mr. C evaluate the materiality of the misstatement under the rollover method. Also, explain the adjustments if any that would Mr. C propose to M’s financial statements.

c.

To determine

Explain the iron curtain method of calculating the uncorrected misstatements and describe the manner through which Mr. C evaluate the materiality of the misstatement under the rollover method. Also, explain the adjustments if any that would Mr. C propose to M’s financial statements.

d.

To determine

Examine the method through which Mr. C evaluate the performance materiality of the $100,000 sales cutoff error in 2017 under the rollover method and iron curtain method.

e.

To determine

Identify the adjustments (if any) in financial statement propose by Mr. C, under roll over method and iron curtain method.

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Answer 3

Question

Chapter 11, Problem 60EP

a.

To determine

State that the misstatement identified in 2017 affect net income, asset, liabilities, and equity in 2017.

b.

To determine

Explain the rollover method of calculating the uncorrected misstatements and describe the manner through which Mr. C evaluate the materiality of the misstatement under the rollover method. Also, explain the adjustments if any that would Mr. C propose to M’s financial statements.

c.

To determine

Explain the iron curtain method of calculating the uncorrected misstatements and describe the manner through which Mr. C evaluate the materiality of the misstatement under the rollover method. Also, explain the adjustments if any that would Mr. C propose to M’s financial statements.

d.

To determine

Examine the method through which Mr. C evaluate the performance materiality of the $100,000 sales cutoff error in 2017 under the rollover method and iron curtain method.

e.

To determine

Identify the adjustments (if any) in financial statement propose by Mr. C, under roll over method and iron curtain method.

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Answer 4

Question

Chapter 11, Problem 60EP

a.

To determine

State that the misstatement identified in 2017 affect net income, asset, liabilities, and equity in 2017.

b.

To determine

Explain the rollover method of calculating the uncorrected misstatements and describe the manner through which Mr. C evaluate the materiality of the misstatement under the rollover method. Also, explain the adjustments if any that would Mr. C propose to M’s financial statements.

c.

To determine

Explain the iron curtain method of calculating the uncorrected misstatements and describe the manner through which Mr. C evaluate the materiality of the misstatement under the rollover method. Also, explain the adjustments if any that would Mr. C propose to M’s financial statements.

d.

To determine

Examine the method through which Mr. C evaluate the performance materiality of the $100,000 sales cutoff error in 2017 under the rollover method and iron curtain method.

e.

To determine

Identify the adjustments (if any) in financial statement propose by Mr. C, under roll over method and iron curtain method.

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Answer 5

Chapter 11, Problem 60EP

a.

To determine

State that the misstatement identified in 2017 affect net income, asset, liabilities, and equity in 2017.

b.

To determine

Explain the rollover method of calculating the uncorrected misstatements and describe the manner through which Mr. C evaluate the materiality of the misstatement under the rollover method. Also, explain the adjustments if any that would Mr. C propose to M’s financial statements.

c.

To determine

Explain the iron curtain method of calculating the uncorrected misstatements and describe the manner through which Mr. C evaluate the materiality of the misstatement under the rollover method. Also, explain the adjustments if any that would Mr. C propose to M’s financial statements.

d.

To determine

Examine the method through which Mr. C evaluate the performance materiality of the $100,000 sales cutoff error in 2017 under the rollover method and iron curtain method.

e.

To determine

Identify the adjustments (if any) in financial statement propose by Mr. C, under roll over method and iron curtain method.

Answer 6

Chapter 11, Problem 60EP

a.

To determine

State that the misstatement identified in 2017 affect net income, asset, liabilities, and equity in 2017.

Answer 7

Chapter 11, Problem 60EP

a.

To determine

State that the misstatement identified in 2017 affect net income, asset, liabilities, and equity in 2017.

Answer 8

b.

To determine

Explain the rollover method of calculating the uncorrected misstatements and describe the manner through which Mr. C evaluate the materiality of the misstatement under the rollover method. Also, explain the adjustments if any that would Mr. C propose to M’s financial statements.

Answer 9

b.

To determine

Explain the rollover method of calculating the uncorrected misstatements and describe the manner through which Mr. C evaluate the materiality of the misstatement under the rollover method. Also, explain the adjustments if any that would Mr. C propose to M’s financial statements.

Answer 10

c.

To determine

Explain the iron curtain method of calculating the uncorrected misstatements and describe the manner through which Mr. C evaluate the materiality of the misstatement under the rollover method. Also, explain the adjustments if any that would Mr. C propose to M’s financial statements.

Answer 11

c.

To determine

Explain the iron curtain method of calculating the uncorrected misstatements and describe the manner through which Mr. C evaluate the materiality of the misstatement under the rollover method. Also, explain the adjustments if any that would Mr. C propose to M’s financial statements.

Answer 12

d.

To determine

Examine the method through which Mr. C evaluate the performance materiality of the $100,000 sales cutoff error in 2017 under the rollover method and iron curtain method.

Answer 13

d.

To determine

Examine the method through which Mr. C evaluate the performance materiality of the $100,000 sales cutoff error in 2017 under the rollover method and iron curtain method.

Answer 14

e.

To determine

Identify the adjustments (if any) in financial statement propose by Mr. C, under roll over method and iron curtain method.

Answer 15

e.

To determine

Identify the adjustments (if any) in financial statement propose by Mr. C, under roll over method and iron curtain method.

Answer 16

Expert Solution & Answer

Answer 17

Expert Solution & Answer

Answer 18

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Answer 19

Ch. 11 - Prob. 1RC Ch. 11 - Prob. 2RC Ch. 11 - Prob. 3RC Ch. 11 - What additional issues are involved with...Ch. 11 - Prob. 5RC Ch. 11 - Prob. 6RC Ch. 11 - Prob. 7RC Ch. 11 - Prob. 8RC Ch. 11 - Prob. 9RC Ch. 11 - Prob. 10RC

State that the misstatement identified in 2017 affect net income, asset, liabilities, and equity in 2017.

State that the misstatement identified in 2017 affect net income, asset, liabilities, and equity in 2017.

Explain the rollover method of calculating the uncorrected misstatements and describe the manner through which Mr. C evaluate the materiality of the misstatement under the rollover method. Also, explain the adjustments if any that would Mr. C propose to M’s financial statements.

Explain the iron curtain method of calculating the uncorrected misstatements and describe the manner through which Mr. C evaluate the materiality of the misstatement under the rollover method. Also, explain the adjustments if any that would Mr. C propose to M’s financial statements.

Examine the method through which Mr. C evaluate the performance materiality of the $100,000 sales cutoff error in 2017 under the rollover method and iron curtain method.

Identify the adjustments (if any) in financial statement propose by Mr. C, under roll over method and iron curtain method.

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Chapter 11 Solutions