You are auditing accounts receivable for a small company and have found the following results: Number and Size of Client Accounts Book Value of Stratum Book Value of Sample Audit Value of Sample 1,202 accounts < $1,000 $ 1,000,000 $ 75,000 $ 60,000 532 accounts > $1,000 $ 777,504 $ 36,400 $ 34,400 Use ratio projection to project your results. Show your final results. and label appropriately.
You are auditing accounts receivable for a small company and have found the following results: Number and Size of Client Accounts Book Value of Stratum Book Value of Sample Audit Value of Sample 1,202 accounts < $1,000 $ 1,000,000 $ 75,000 $ 60,000 532 accounts > $1,000 $ 777,504 $ 36,400 $ 34,400 Use ratio projection to project your results. Show your final results. and label appropriately.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter10: Accounting For Sales And Cash Receipts
Section: Chapter Questions
Problem 7SEB: JOURNALIZING SALES RETURNS AND ALLOWANCES Enter the following transactions starting on page 60 of a...
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Question
You are auditing
|
Number and Size of Client Accounts |
Book Value of Stratum |
|
Book Value of Sample |
|
Audit Value of Sample |
||||||
|
1,202 accounts < $1,000 |
$ |
1,000,000 |
|
|
$ |
75,000 |
|
|
$ |
60,000 |
|
|
532 accounts > $1,000 |
$ |
777,504 |
|
|
$ |
36,400 |
|
|
$ |
34,400 |
|
Use ratio projection to project your results. Show your final results. and label appropriately.
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