Provide solution for the situation given.

Question

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Answer 1

Question

Chapter 21, Problem 24DQP

a.

To determine

Provide solution for the situation given.

b.1

To determine

Explain whether adequate items are testes.

b.2

To determine

Explain the act that could be done if test-counted 150 items and found a substantial number of counting errors.

c.

To determine

Explain the action that can be taken if it is found that the liquid has solidified in most of the bottles.

d.

To determine

Identify the significance of the procedure and explain the action that could be taken.

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Refer to the statement of comprehensive income for the year ended 31 December 2023, statement of financial position as at 31 December 2023 and additional information related to the 2023 financial year. REQUIRED Calculate the ratios for 2023 (expressed to two decimal places) that would reflect each of the following and comment on your answers. Use only the formulas provided in the formula sheet that appear after Question 4 or in the module guide. 2.1 The efficiency of the company to collect its debts on time. 2.2 The amount of debt that the company uses to finance its assets. 2.3 The ability of the company to settle its short-term debts without relying on the sale of inventories. 2.4 The percentage of the profit that has been put back into the company. 2.5 The efficiency with which the company has managed its inventory. 2.6 The return that the shareholders achieved on their investment.

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Answer 2

Question

Chapter 21, Problem 24DQP

a.

To determine

Provide solution for the situation given.

b.1

To determine

Explain whether adequate items are testes.

b.2

To determine

Explain the act that could be done if test-counted 150 items and found a substantial number of counting errors.

c.

To determine

Explain the action that can be taken if it is found that the liquid has solidified in most of the bottles.

d.

To determine

Identify the significance of the procedure and explain the action that could be taken.

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Answer 3

Question

Chapter 21, Problem 24DQP

a.

To determine

Provide solution for the situation given.

b.1

To determine

Explain whether adequate items are testes.

b.2

To determine

Explain the act that could be done if test-counted 150 items and found a substantial number of counting errors.

c.

To determine

Explain the action that can be taken if it is found that the liquid has solidified in most of the bottles.

d.

To determine

Identify the significance of the procedure and explain the action that could be taken.

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Answer 4

Question

Chapter 21, Problem 24DQP

a.

To determine

Provide solution for the situation given.

b.1

To determine

Explain whether adequate items are testes.

b.2

To determine

Explain the act that could be done if test-counted 150 items and found a substantial number of counting errors.

c.

To determine

Explain the action that can be taken if it is found that the liquid has solidified in most of the bottles.

d.

To determine

Identify the significance of the procedure and explain the action that could be taken.

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Answer 5

Chapter 21, Problem 24DQP

a.

To determine

Provide solution for the situation given.

b.1

To determine

Explain whether adequate items are testes.

b.2

To determine

Explain the act that could be done if test-counted 150 items and found a substantial number of counting errors.

c.

To determine

Explain the action that can be taken if it is found that the liquid has solidified in most of the bottles.

d.

To determine

Identify the significance of the procedure and explain the action that could be taken.

Answer 6

Chapter 21, Problem 24DQP

a.

To determine

Provide solution for the situation given.

Answer 7

Chapter 21, Problem 24DQP

a.

To determine

Provide solution for the situation given.

Answer 8

b.1

To determine

Explain whether adequate items are testes.

Answer 9

b.1

To determine

Explain whether adequate items are testes.

Answer 10

b.2

To determine

Explain the act that could be done if test-counted 150 items and found a substantial number of counting errors.

Answer 11

b.2

To determine

Explain the act that could be done if test-counted 150 items and found a substantial number of counting errors.

Answer 12

c.

To determine

Explain the action that can be taken if it is found that the liquid has solidified in most of the bottles.

Answer 13

c.

To determine

Explain the action that can be taken if it is found that the liquid has solidified in most of the bottles.

Answer 14

d.

To determine

Identify the significance of the procedure and explain the action that could be taken.

Answer 15

d.

To determine

Identify the significance of the procedure and explain the action that could be taken.

Answer 16

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Answer 17

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Answer 18

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Answer 19

Ch. 21 - Prob. 1RQ Ch. 21 - Prob. 2RQ Ch. 21 - Prob. 3RQ Ch. 21 - Prob. 4RQ Ch. 21 - Prob. 5RQ Ch. 21 - Prob. 6RQ Ch. 21 - Prob. 7RQ Ch. 21 - Prob. 8RQ Ch. 21 - Prob. 9RQ Ch. 21 - Prob. 10RQ

Provide solution for the situation given.

Solution Summary: The author explains that the auditor should examine the recording of the shipments on the day of occurrence and enter these details in the working papers so an ascertainment could be done.

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Provide solution for the situation given.

Explain whether adequate items are testes.

Explain the act that could be done if test-counted 150 items and found a substantial number of counting errors.

Explain the action that can be taken if it is found that the liquid has solidified in most of the bottles.

Identify the significance of the procedure and explain the action that could be taken.

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Chapter 21 Solutions