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1 3 4 Recorded balance $15,000 $30,000 (e) $12,000 Audited value $12,000 (c) $6,000 (g) Tainting percentage (a) 5% 25% (h) Sampling interval $50,000 (d) $25,000 $48,000 Projected misstatement (b) $5,000 (f) $24,000

1 3 4 Recorded balance $15,000 $30,000 (e) $12,000 Audited value $12,000 (c) $6,000 (g) Tainting percentage (a) 5% 25% (h) Sampling interval $50,000 (d) $25,000 $48,000 Projected misstatement (b) $5,000 (f) $24,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Projected Misstatement Calculation: Monetary Unit Sampling. For each of the following independent misstatements, identify the missing value:

 

1 3 4 Recorded balance $15,000 $30,000 (e) $12,000 Audited value $12,000 (c) $6,000 (g) Tainting percentage (a) 5% 25% (h) Sampling interval $50,000 (d) $25,000 $48,000 Projected misstatement (b) $5,000 (f) $24,000
Transcribed Image Text:1 3 4 Recorded balance $15,000 $30,000 (e) $12,000 Audited value $12,000 (c) $6,000 (g) Tainting percentage (a) 5% 25% (h) Sampling interval $50,000 (d) $25,000 $48,000 Projected misstatement (b) $5,000 (f) $24,000
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