AUDITING+ASSURANCE SERVICES-CONNECT >I<
AUDITING+ASSURANCE SERVICES-CONNECT >I<
8th Edition
ISBN: 9781265005405
Author: LOUWERS
Publisher: INTER MCG
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Chapter 3, Problem 22RC
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Explain the advantages for using the CAAT in the financial statements audit.

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On 2015/1/1, Samantha Ltd. purchased machinery for $60,000. The useful life is 8 years with a salvage value of $6,000. The company uses the double declining balance method. What is the second year's annual depreciation expense (2016/12/31)?
Brenda Confections is preparing its cash budget and expects to have sales of $50,000 in April, $65,000 in May, and $75,000 in June. If 30% of sales are for cash, 50% are credit sales paid in the month after the sale, and 20% are credit sales paid 2 months after the sale, what are the expected cash receipts for June?
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