State the effect of misstatement identified in 2017 on net income, asset, liabilities, and equity in 2017.

Question

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Answer 1

Question

Chapter 11, Problem 58EP

a.

To determine

State the effect of misstatement identified in 2017 on net income, asset, liabilities, and equity in 2017.

b.

To determine

Identify whether the reasoning of Mr. T is correct or not.

c.

To determine

Describe rollover method and iron curtain method.

d.

To determine

Examine the method through which Mr. R calculate the performance materiality of the $11,000 sales cutoff error in 2017 under the rollover method and iron curtain method.

e.

To determine

Identify the adjustments (if any) in financial statement propose by Mr. R, under roll over method and iron curtain method.

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Answer 2

Question

Chapter 11, Problem 58EP

a.

To determine

State the effect of misstatement identified in 2017 on net income, asset, liabilities, and equity in 2017.

b.

To determine

Identify whether the reasoning of Mr. T is correct or not.

c.

To determine

Describe rollover method and iron curtain method.

d.

To determine

Examine the method through which Mr. R calculate the performance materiality of the $11,000 sales cutoff error in 2017 under the rollover method and iron curtain method.

e.

To determine

Identify the adjustments (if any) in financial statement propose by Mr. R, under roll over method and iron curtain method.

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Answer 3

Question

Chapter 11, Problem 58EP

a.

To determine

State the effect of misstatement identified in 2017 on net income, asset, liabilities, and equity in 2017.

b.

To determine

Identify whether the reasoning of Mr. T is correct or not.

c.

To determine

Describe rollover method and iron curtain method.

d.

To determine

Examine the method through which Mr. R calculate the performance materiality of the $11,000 sales cutoff error in 2017 under the rollover method and iron curtain method.

e.

To determine

Identify the adjustments (if any) in financial statement propose by Mr. R, under roll over method and iron curtain method.

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Answer 4

Question

Chapter 11, Problem 58EP

a.

To determine

State the effect of misstatement identified in 2017 on net income, asset, liabilities, and equity in 2017.

b.

To determine

Identify whether the reasoning of Mr. T is correct or not.

c.

To determine

Describe rollover method and iron curtain method.

d.

To determine

Examine the method through which Mr. R calculate the performance materiality of the $11,000 sales cutoff error in 2017 under the rollover method and iron curtain method.

e.

To determine

Identify the adjustments (if any) in financial statement propose by Mr. R, under roll over method and iron curtain method.

Expert Solution & Answer

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Answer 5

Chapter 11, Problem 58EP

a.

To determine

State the effect of misstatement identified in 2017 on net income, asset, liabilities, and equity in 2017.

b.

To determine

Identify whether the reasoning of Mr. T is correct or not.

c.

To determine

Describe rollover method and iron curtain method.

d.

To determine

Examine the method through which Mr. R calculate the performance materiality of the $11,000 sales cutoff error in 2017 under the rollover method and iron curtain method.

e.

To determine

Identify the adjustments (if any) in financial statement propose by Mr. R, under roll over method and iron curtain method.

Answer 6

Chapter 11, Problem 58EP

a.

To determine

State the effect of misstatement identified in 2017 on net income, asset, liabilities, and equity in 2017.

Answer 7

Chapter 11, Problem 58EP

a.

To determine

State the effect of misstatement identified in 2017 on net income, asset, liabilities, and equity in 2017.

Answer 8

b.

To determine

Identify whether the reasoning of Mr. T is correct or not.

Answer 9

b.

To determine

Identify whether the reasoning of Mr. T is correct or not.

Answer 10

c.

To determine

Describe rollover method and iron curtain method.

Answer 11

c.

To determine

Describe rollover method and iron curtain method.

Answer 12

d.

To determine

Examine the method through which Mr. R calculate the performance materiality of the $11,000 sales cutoff error in 2017 under the rollover method and iron curtain method.

Answer 13

d.

To determine

Examine the method through which Mr. R calculate the performance materiality of the $11,000 sales cutoff error in 2017 under the rollover method and iron curtain method.

Answer 14

e.

To determine

Identify the adjustments (if any) in financial statement propose by Mr. R, under roll over method and iron curtain method.

Answer 15

e.

To determine

Identify the adjustments (if any) in financial statement propose by Mr. R, under roll over method and iron curtain method.

Answer 16

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Answer 17

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Answer 18

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Answer 19

Ch. 11 - Prob. 1RC Ch. 11 - Prob. 2RC Ch. 11 - Prob. 3RC Ch. 11 - What additional issues are involved with...Ch. 11 - Prob. 5RC Ch. 11 - Prob. 6RC Ch. 11 - Prob. 7RC Ch. 11 - Prob. 8RC Ch. 11 - Prob. 9RC Ch. 11 - Prob. 10RC

State the effect of misstatement identified in 2017 on net income, asset, liabilities, and equity in 2017.

State the effect of misstatement identified in 2017 on net income, asset, liabilities, and equity in 2017.

Identify whether the reasoning of Mr. T is correct or not.

Describe rollover method and iron curtain method.

Examine the method through which Mr. R calculate the performance materiality of the $11,000 sales cutoff error in 2017 under the rollover method and iron curtain method.

Identify the adjustments (if any) in financial statement propose by Mr. R, under roll over method and iron curtain method.

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Chapter 11 Solutions