Identify the specific assertions for the audit of the held-to-maturity securities assuming that internal controls are acceptable.

Question

Brun Company produces its product through two processing departments: Mixing and Baking. Information for the Mixing department follows. Direct Materials Conversion Unit Percent Complete Percent Complete Beginning work in process inventory 7.500 Units started this period 104,500 Units completed and transferred out 100.000 Ending work in process inventory 12.000 100% 25% Beginning work in process inventory Direct materials Conversion $6.800 14.500 $21.300 Costs added this period Drect materials 116,400 Conversion Total costs to account for 1.067,000 1.183.400 $1.204.700 Required 1. Prepare the Mixing department's production cost report for November using the weighted average method Check (1) C$1.000 2. Prepare the November 30 journal entry to transfer the cost of completed units from Mixing to Baking

Answer 1

Question

Chapter 10, Problem 49EP

a.

To determine

Identify the specific assertions for the audit of the held-to-maturity securities assuming that internal controls are acceptable.

b.

To determine

Identify the audit procedures that should be undertaken in order to obtain an audit evidence for the existence and valuation of company B’s securities.

c.

To determine

Identify the procedure that should be performed in order to obtain audit evidence for company B’s investment in the company C.

d.

To determine

The procedures that should be undertaken to gather audit evidences for classification of securities in company B.

e.

To determine

Identify the procedures that an auditor can undertake to obtain evidence about fair market value of company B’s investments.

f.

To determine

State the procedures that should be undertaken by an auditor to collect evidences regarding impairment valuation other than temporary.

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Brun Company produces its product through two processing departments: Mixing and Baking. Information for the Mixing department follows. Direct Materials Conversion Unit Percent Complete Percent Complete Beginning work in process inventory 7.500 Units started this period 104,500 Units completed and transferred out 100.000 Ending work in process inventory 12.000 100% 25% Beginning work in process inventory Direct materials Conversion $6.800 14.500 $21.300 Costs added this period Drect materials 116,400 Conversion Total costs to account for 1.067,000 1.183.400 $1.204.700 Required 1. Prepare the Mixing department's production cost report for November using the weighted average method Check (1) C$1.000 2. Prepare the November 30 journal entry to transfer the cost of completed units from Mixing to Baking

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Not need ai solution please solve this general accounting question

Answer 2

Question

Chapter 10, Problem 49EP

a.

To determine

Identify the specific assertions for the audit of the held-to-maturity securities assuming that internal controls are acceptable.

b.

To determine

Identify the audit procedures that should be undertaken in order to obtain an audit evidence for the existence and valuation of company B’s securities.

c.

To determine

Identify the procedure that should be performed in order to obtain audit evidence for company B’s investment in the company C.

d.

To determine

The procedures that should be undertaken to gather audit evidences for classification of securities in company B.

e.

To determine

Identify the procedures that an auditor can undertake to obtain evidence about fair market value of company B’s investments.

f.

To determine

State the procedures that should be undertaken by an auditor to collect evidences regarding impairment valuation other than temporary.

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Answer 3

Question

Chapter 10, Problem 49EP

a.

To determine

Identify the specific assertions for the audit of the held-to-maturity securities assuming that internal controls are acceptable.

b.

To determine

Identify the audit procedures that should be undertaken in order to obtain an audit evidence for the existence and valuation of company B’s securities.

c.

To determine

Identify the procedure that should be performed in order to obtain audit evidence for company B’s investment in the company C.

d.

To determine

The procedures that should be undertaken to gather audit evidences for classification of securities in company B.

e.

To determine

Identify the procedures that an auditor can undertake to obtain evidence about fair market value of company B’s investments.

f.

To determine

State the procedures that should be undertaken by an auditor to collect evidences regarding impairment valuation other than temporary.

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Answer 4

Question

Chapter 10, Problem 49EP

a.

To determine

Identify the specific assertions for the audit of the held-to-maturity securities assuming that internal controls are acceptable.

b.

To determine

Identify the audit procedures that should be undertaken in order to obtain an audit evidence for the existence and valuation of company B’s securities.

c.

To determine

Identify the procedure that should be performed in order to obtain audit evidence for company B’s investment in the company C.

d.

To determine

The procedures that should be undertaken to gather audit evidences for classification of securities in company B.

e.

To determine

Identify the procedures that an auditor can undertake to obtain evidence about fair market value of company B’s investments.

f.

To determine

State the procedures that should be undertaken by an auditor to collect evidences regarding impairment valuation other than temporary.

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Answer 5

Chapter 10, Problem 49EP

a.

To determine

Identify the specific assertions for the audit of the held-to-maturity securities assuming that internal controls are acceptable.

b.

To determine

Identify the audit procedures that should be undertaken in order to obtain an audit evidence for the existence and valuation of company B’s securities.

c.

To determine

Identify the procedure that should be performed in order to obtain audit evidence for company B’s investment in the company C.

d.

To determine

The procedures that should be undertaken to gather audit evidences for classification of securities in company B.

e.

To determine

Identify the procedures that an auditor can undertake to obtain evidence about fair market value of company B’s investments.

f.

To determine

State the procedures that should be undertaken by an auditor to collect evidences regarding impairment valuation other than temporary.

Answer 6

Chapter 10, Problem 49EP

a.

To determine

Identify the specific assertions for the audit of the held-to-maturity securities assuming that internal controls are acceptable.

Answer 7

Chapter 10, Problem 49EP

a.

To determine

Identify the specific assertions for the audit of the held-to-maturity securities assuming that internal controls are acceptable.

Answer 8

b.

To determine

Identify the audit procedures that should be undertaken in order to obtain an audit evidence for the existence and valuation of company B’s securities.

Answer 9

b.

To determine

Identify the audit procedures that should be undertaken in order to obtain an audit evidence for the existence and valuation of company B’s securities.

Answer 10

c.

To determine

Identify the procedure that should be performed in order to obtain audit evidence for company B’s investment in the company C.

Answer 11

c.

To determine

Identify the procedure that should be performed in order to obtain audit evidence for company B’s investment in the company C.

Answer 12

d.

To determine

The procedures that should be undertaken to gather audit evidences for classification of securities in company B.

Answer 13

d.

To determine

The procedures that should be undertaken to gather audit evidences for classification of securities in company B.

Answer 14

e.

To determine

Identify the procedures that an auditor can undertake to obtain evidence about fair market value of company B’s investments.

Answer 15

e.

To determine

Identify the procedures that an auditor can undertake to obtain evidence about fair market value of company B’s investments.

Answer 16

f.

To determine

State the procedures that should be undertaken by an auditor to collect evidences regarding impairment valuation other than temporary.

Answer 17

f.

To determine

State the procedures that should be undertaken by an auditor to collect evidences regarding impairment valuation other than temporary.

Answer 18

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Answer 19

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Ch. 10 - Prob. 1RC Ch. 10 - Prob. 2RC Ch. 10 - Prob. 3RC Ch. 10 - Prob. 4RC Ch. 10 - Prob. 5RC Ch. 10 - Prob. 6RC Ch. 10 - Prob. 7RC Ch. 10 - Prob. 8RC Ch. 10 - Prob. 9RC Ch. 10 - Prob. 10RC

Identify the specific assertions for the audit of the held-to-maturity securities assuming that internal controls are acceptable.

Identify the specific assertions for the audit of the held-to-maturity securities assuming that internal controls are acceptable.

Identify the audit procedures that should be undertaken in order to obtain an audit evidence for the existence and valuation of company B’s securities.

Identify the procedure that should be performed in order to obtain audit evidence for company B’s investment in the company C.

The procedures that should be undertaken to gather audit evidences for classification of securities in company B.

Identify the procedures that an auditor can undertake to obtain evidence about fair market value of company B’s investments.

State the procedures that should be undertaken by an auditor to collect evidences regarding impairment valuation other than temporary.

Chapter 10 Solutions