The 10,000 accounts receivable of DEF Company have a total book value of $120,000. A CPA has selected and audited a sample of 100 accounts with a total book value of $1,000 and an audited value of $1,200. Using the ratio estimation technique, the estimated total audited value of the population is: 140,000 100,000 144,000 120,000
The 10,000 accounts receivable of DEF Company have a total book value of $120,000. A CPA has selected and audited a sample of 100 accounts with a total book value of $1,000 and an audited value of $1,200. Using the ratio estimation technique, the estimated total audited value of the population is: 140,000 100,000 144,000 120,000
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter8: Specialized Audit Tools: Attributes Sampling, Monetary Unit Sampling, And Data Analytics Tools
Section: Chapter Questions
Problem 30RQSC
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![The 10,000 accounts receivable of DEF Company have a total book value of
$120,000. A CPA has selected and audited a sample of 100 accounts with a total
book value of $1,000 and an audited value of $1,200.
Using the ratio estimation technique, the estimated total audited value of the
population is:
140,000
100,000
144,000
120,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fee65e4b8-ecb6-4029-afff-e3ce275f015a%2F9b55dfbf-02e8-4b74-acca-27b99330b2bc%2Foi2le1j_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The 10,000 accounts receivable of DEF Company have a total book value of
$120,000. A CPA has selected and audited a sample of 100 accounts with a total
book value of $1,000 and an audited value of $1,200.
Using the ratio estimation technique, the estimated total audited value of the
population is:
140,000
100,000
144,000
120,000
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