The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time. Requirement 1 To describe: For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

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I am looking for help with this financial accounting question using proper accounting standards.

Answer 1

Question

Chapter 6, Problem 11RQSC

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 1

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 2

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 3

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 4

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 5

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 6

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 7

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

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I am looking for help with this financial accounting question using proper accounting standards.

Bergo Bay's accounting system generated the following account balances on December 31. The company's manager knows something is wrong with this list of balances because it does not show any balance for Work in Process Inventory and the accrued factory payroll (Factory Wages Payable) has not been recorded. Debit Credit Notes payable Cash Accounts receivable Raw materials inventory Work in process inventory Finished goods inventory Prepaid rent Accounts payable Common stock Retained earnings (prior year) Sales Cost of goods sold $ 75,000 44,000 27,000 0 12,000 4,000 $ 9,800 12,800 40,000 76,000 221,400 Factory overhead General and administrative expenses Totals 118,000 27,000 53,000 $ 360,000 $ 360,000 These six documents must be processed to bring the accounting records up to date. Materials requisition 10: Materials requisition 11: Materials requisition 12: Labor time ticket 52: Labor time ticket 53: $ 4,500 direct materials to Job 402 $ 7,000 direct materials to Job 404 $ 2,100…

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Answer 2

Question

Chapter 6, Problem 11RQSC

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 1

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 2

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 3

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 4

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 5

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 6

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 7

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

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Answer 3

Question

Chapter 6, Problem 11RQSC

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 1

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 2

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 3

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 4

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 5

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 6

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 7

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

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Answer 4

Question

Chapter 6, Problem 11RQSC

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 1

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 2

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 3

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 4

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 5

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 6

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 7

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

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Answer 5

Chapter 6, Problem 11RQSC

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 1

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 2

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 3

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 4

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 5

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 6

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 7

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

Answer 6

Chapter 6, Problem 11RQSC

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 1

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

Answer 7

Chapter 6, Problem 11RQSC

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 1

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

Answer 8

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 2

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

Answer 9

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 2

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

Answer 10

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 3

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

Answer 11

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 3

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

Answer 12

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 4

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

Answer 13

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 4

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

Answer 14

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 5

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

Answer 15

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 5

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

Answer 16

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 6

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

Answer 17

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 6

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

Answer 18

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 7

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

Answer 19

To determine

Introduction:

The reports generated by a company that exhibit the financial performance during a particular period of time and show the financial position at a point of time.

Requirement 7

To describe:

For the disclosed risk factor, identify the relevant account that may have an effect on the balance. And for each such account, point out the effect on the audit evidence, and also the specific assertion that the auditor is primarily concerned about.

Answer 20

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Answer 31

Ch. 6 - Prob. 1CYBK Ch. 6 - Prob. 2CYBK Ch. 6 - Prob. 3CYBK Ch. 6 - Which of the following statements is true...Ch. 6 - Prob. 5CYBK Ch. 6 - Prob. 6CYBK Ch. 6 - Prob. 7CYBK Ch. 6 - Prob. 8CYBK Ch. 6 - Prob. 9CYBK Ch. 6 - Prob. 10CYBK

Chapter 6 Solutions