Identify those steps mentioned that are of test of controls or substantive test of transactions.

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Answer 1

Question

Chapter 20, Problem 24DQP

a. (1)

To determine

Identify those steps mentioned that are of test of controls or substantive test of transactions.

a. (2)

To determine

Identify those steps mentioned that are tests of details of balances.

b.

To determine

Enlist the sequence of the test of control and substantive test of transaction in order of their performance in audit.

c.

To determine

Enlist the sequence of the test of details of balance properly.

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The Falcon Company has reported the following data: Item Amount Operating expenses $ 1,80,00 Cost of goods sold $ 5,20,00 Net sales $9,70,00 Interest expense $ 45,000 Gain on sale of $ 35,000 assets Income tax expense $95,000 What was Falcon's gross profit? A. $450,000 B. $380,000 C. $250,000 D. $520,000

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Answer 2

Question

Chapter 20, Problem 24DQP

a. (1)

To determine

Identify those steps mentioned that are of test of controls or substantive test of transactions.

a. (2)

To determine

Identify those steps mentioned that are tests of details of balances.

b.

To determine

Enlist the sequence of the test of control and substantive test of transaction in order of their performance in audit.

c.

To determine

Enlist the sequence of the test of details of balance properly.

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Answer 3

Question

Chapter 20, Problem 24DQP

a. (1)

To determine

Identify those steps mentioned that are of test of controls or substantive test of transactions.

a. (2)

To determine

Identify those steps mentioned that are tests of details of balances.

b.

To determine

Enlist the sequence of the test of control and substantive test of transaction in order of their performance in audit.

c.

To determine

Enlist the sequence of the test of details of balance properly.

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Answer 4

Question

Chapter 20, Problem 24DQP

a. (1)

To determine

Identify those steps mentioned that are of test of controls or substantive test of transactions.

a. (2)

To determine

Identify those steps mentioned that are tests of details of balances.

b.

To determine

Enlist the sequence of the test of control and substantive test of transaction in order of their performance in audit.

c.

To determine

Enlist the sequence of the test of details of balance properly.

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Answer 5

Chapter 20, Problem 24DQP

a. (1)

To determine

Identify those steps mentioned that are of test of controls or substantive test of transactions.

a. (2)

To determine

Identify those steps mentioned that are tests of details of balances.

b.

To determine

Enlist the sequence of the test of control and substantive test of transaction in order of their performance in audit.

c.

To determine

Enlist the sequence of the test of details of balance properly.

Answer 6

Chapter 20, Problem 24DQP

a. (1)

To determine

Identify those steps mentioned that are of test of controls or substantive test of transactions.

Answer 7

Chapter 20, Problem 24DQP

a. (1)

To determine

Identify those steps mentioned that are of test of controls or substantive test of transactions.

Answer 8

a. (2)

To determine

Identify those steps mentioned that are tests of details of balances.

Answer 9

a. (2)

To determine

Identify those steps mentioned that are tests of details of balances.

Answer 10

b.

To determine

Enlist the sequence of the test of control and substantive test of transaction in order of their performance in audit.

Answer 11

b.

To determine

Enlist the sequence of the test of control and substantive test of transaction in order of their performance in audit.

Answer 12

c.

To determine

Enlist the sequence of the test of details of balance properly.

Answer 13

c.

To determine

Enlist the sequence of the test of details of balance properly.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 20 - Prob. 1RQ Ch. 20 - Prob. 2RQ Ch. 20 - Distinguish among a payroll master file, a W-2...Ch. 20 - Prob. 4RQ Ch. 20 - Prob. 5RQ Ch. 20 - Prob. 6RQ Ch. 20 - Prob. 7RQ Ch. 20 - Prob. 8RQ Ch. 20 - Prob. 9RQ Ch. 20 - Prob. 10RQ

Identify those steps mentioned that are of test of controls or substantive test of transactions.

Solution Summary: The author explains the steps that form a part of test of controls or substantive tests of transactions: Identify controls and deficiencies in internal control for payroll and personnel cycle; design and perform payroll – and personnel related substantive analytical

Identify those steps mentioned that are of test of controls or substantive test of transactions.

Identify those steps mentioned that are tests of details of balances.

Enlist the sequence of the test of control and substantive test of transaction in order of their performance in audit.

Enlist the sequence of the test of details of balance properly.

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Chapter 20 Solutions