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es You have been assigned to select an MUS sample from Whitney Company's detailed inventory records as of September 30. Whitney's controller gave you a list of the 23 different inventory items and their recorded book amounts. The senior accountant told you to select a sample of 10 dollar units and the inventory items that contain them. ID 1 Amount $1,750 ID Amount ID Amount ID Amount 7 $1,255 13 $ 937 19 $2,577 2 1,492 8 3,761 14 5,938 20 1,126 3 994 9 1,956 15 2,001 21 565 629 10 1,393 16 222 22 2,319 5 6 2,272 1,163 11 884 17 12 729 18 1,738 1,228 23 1,681 Required: Prepare audit documentation showing a systematic selection of 10 dollar units and the related logical units. Arrange the items in their numerical identification number order and use a random starting point at the 1,210th dollar. ID Recorded Amount Cumulative Amount Dollar Selected Selected Logical Unit 1 $ 1,750 1,210 2 1,492 3 994 4 629 5 2,272 6 1,163 7 1,255 8 3,761 9 1,956 10 1,393 11 884 12 729 13 937 14 5,938 15 2,001 16 222 17 1,738 18 1,228

es You have been assigned to select an MUS sample from Whitney Company's detailed inventory records as of September 30. Whitney's controller gave you a list of the 23 different inventory items and their recorded book amounts. The senior accountant told you to select a sample of 10 dollar units and the inventory items that contain them. ID 1 Amount $1,750 ID Amount ID Amount ID Amount 7 $1,255 13 $ 937 19 $2,577 2 1,492 8 3,761 14 5,938 20 1,126 3 994 9 1,956 15 2,001 21 565 629 10 1,393 16 222 22 2,319 5 6 2,272 1,163 11 884 17 12 729 18 1,738 1,228 23 1,681 Required: Prepare audit documentation showing a systematic selection of 10 dollar units and the related logical units. Arrange the items in their numerical identification number order and use a random starting point at the 1,210th dollar. ID Recorded Amount Cumulative Amount Dollar Selected Selected Logical Unit 1 $ 1,750 1,210 2 1,492 3 994 4 629 5 2,272 6 1,163 7 1,255 8 3,761 9 1,956 10 1,393 11 884 12 729 13 937 14 5,938 15 2,001 16 222 17 1,738 18 1,228

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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es You have been assigned to select an MUS sample from Whitney Company's detailed inventory records as of September 30. Whitney's controller gave you a list of the 23 different inventory items and their recorded book amounts. The senior accountant told you to select a sample of 10 dollar units and the inventory items that contain them. ID 1 Amount $1,750 ID Amount ID Amount ID Amount 7 $1,255 13 $ 937 19 $2,577 2 1,492 8 3,761 14 5,938 20 1,126 3 994 9 1,956 15 2,001 21 565 629 10 1,393 16 222 22 2,319 5 6 2,272 1,163 11 884 17 12 729 18 1,738 1,228 23 1,681 Required: Prepare audit documentation showing a systematic selection of 10 dollar units and the related logical units. Arrange the items in their numerical identification number order and use a random starting point at the 1,210th dollar. ID Recorded Amount Cumulative Amount Dollar Selected Selected Logical Unit 1 $ 1,750 1,210 2 1,492 3 994 4 629 5 2,272 6 1,163 7 1,255 8 3,761 9 1,956 10 1,393 11 884 12 729 13 937 14 5,938 15 2,001 16 222 17 1,738 18 1,228
Transcribed Image Text:es You have been assigned to select an MUS sample from Whitney Company's detailed inventory records as of September 30. Whitney's controller gave you a list of the 23 different inventory items and their recorded book amounts. The senior accountant told you to select a sample of 10 dollar units and the inventory items that contain them. ID 1 Amount $1,750 ID Amount ID Amount ID Amount 7 $1,255 13 $ 937 19 $2,577 2 1,492 8 3,761 14 5,938 20 1,126 3 994 9 1,956 15 2,001 21 565 629 10 1,393 16 222 22 2,319 5 6 2,272 1,163 11 884 17 12 729 18 1,738 1,228 23 1,681 Required: Prepare audit documentation showing a systematic selection of 10 dollar units and the related logical units. Arrange the items in their numerical identification number order and use a random starting point at the 1,210th dollar. ID Recorded Amount Cumulative Amount Dollar Selected Selected Logical Unit 1 $ 1,750 1,210 2 1,492 3 994 4 629 5 2,272 6 1,163 7 1,255 8 3,761 9 1,956 10 1,393 11 884 12 729 13 937 14 5,938 15 2,001 16 222 17 1,738 18 1,228
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