Introduction:
The university conducts assignments to the students and it is the responsibility of the faculty members to conduct thorough checking of the records and assign true or false to those.
Requirement 1
To describe:
Explain if the individual faced a low quality job that is considered mundane, and also state if assumed that it has remained undiscovered.
Introduction:
The university conducts assignments to the students and it is the responsibility of the faculty members to conduct thorough checking of the records and assign true or false to those.
Requirement 2
To describe:
Decide why the misrepresentation of the individual stands important to the university firm.
Introduction:
The university conducts assignments to the students and it is the responsibility of the faculty members to conduct thorough checking of the records and assign true or false to those.
Requirement 3
To describe:
Explain the reaction of the individual after the misrepresentation of the individual was discovered.
Introduction:
The university conducts assignments to the students and it is the responsibility of the faculty members to conduct thorough checking of the records and assign true or false to those.
Requirement 4
To describe:
Find out whether the outcome of the above action is correct, in terms of being lenient or harsh, and offer a recommendation, and also using the framework for ethical decision making discussed in the 1 Chapter provide a conclusion.
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Chapter 6 Solutions
ACP AUDITING - RISK BASED APPROACH
- Provide correct answer financial accountingarrow_forwardQuestion:Financial Account - 09-69 Martinez Company's ending inventory includes the following items. Product Units Cost per Unit Market per Unit Helmets 31 $ 59 $ 63 Bats 24 $ 113 $ 81 Shoes 45 $ 104 $ 100 Uniforms 49 45 45 Compute the lower of cost or market for ending inventory applied separately to each product. Per unit Total Inventory Unit Mar Mark LCM Applied to Cost Cost Items S ket et items Helmets 31 $ 59 $ 63 Bats 24 24 113 81 shops 45 104 100 uniforms 49 49 45 49 45 45 $ 0 $ 0arrow_forwardUse the following information for questions 2-9 Category Accounts payable Accounts receivable Accruals 2016 2017 34,500 37,500 96,000 102,000 13,500 11,250 Additional paid in capital Cash Common Stock@par value COGS Depreciation expense 187,500 204,000 6,000 16,800 10,500 11,550 109,500 144,000 18.000 19,500 Interest expense 13,500 13,800 Inventories 93,000 96,000 Long-term debt 112,500 116,250 Net fixed assets 315,000 ??? Notes payable 49,500 54,000 Operating expenses (excl. depr.) 42,000 52,500 Retained earnings Sales Taxes Net fixed assets in 2017 were $ 1) 331,750 2) 332,750 102,000 114,000 213,000 282,000 8,250 15,750 3) 333,750 4) 344,750 5) 345,750arrow_forward
- COST ACCOUNT-MARTINEZ COMPANY'S ENDING INVENTORY INCLUDES THE FOLLOWING ITEMS. COMPUTE THE LOWER OF COST OR MARKET FOR ENDING INVENTORY APPLIED SEPARATELY TO EACH PRODUCT. HELMETS 24 $50 $54 BATS 17 $78 $72 SHOES 38 $95 $91 UNIFORMS 42 $36 $36arrow_forwardGet correct solution with explanation for this financial accounting questionarrow_forwardVariable Costing?? It's General Account issuearrow_forward
Auditing: A Risk Based-Approach (MindTap Course L...AccountingISBN:9781337619455Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:Cengage Learning
Auditing: A Risk Based-Approach to Conducting a Q...AccountingISBN:9781305080577Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:South-Western College Pub