Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company. The statistical conclusion if no misstatements are found in the sample and whether its account balance acceptable.

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Answer 1

Question

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 8, Problem 29RQSC

a.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

The statistical conclusion if no misstatements are found in the sample and whether its account balance acceptable.

b.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

Compute the total estimated misstatements.

c.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

The results indicates the account balance as acceptable.

d.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

If results are not acceptable other course of action available to the auditor.

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1.3 1.2.5 za When using a computerised accounting system, the paper work will be reduced in the organisation. Calculate the omitting figures: Enter only the answer next to the question number (1.3.1-1.3.5) in the NOTE. Round off to TWO decimals. VAT report of Comfy shoes as at 30 April 2021 OUTPUT TAX INPUT TAX NETT TAX Tax Gross Tax(15%) Gross (15%) Standard 75 614,04 1.3.1 Capital 1.3.2 9 893,36 94 924,94 Tax (15%) 1.3.3 Gross 484 782,70 75 849,08 -9 893,36 -75 849,08 Bad Debts TOTAL 1.3.4 4 400,00 1 922,27 14 737,42 -1 348,36 1.3.5 (5 x 2) (10

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Answer 2

Question

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 8, Problem 29RQSC

a.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

The statistical conclusion if no misstatements are found in the sample and whether its account balance acceptable.

b.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

Compute the total estimated misstatements.

c.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

The results indicates the account balance as acceptable.

d.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

If results are not acceptable other course of action available to the auditor.

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Answer 3

Question

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 8, Problem 29RQSC

a.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

The statistical conclusion if no misstatements are found in the sample and whether its account balance acceptable.

b.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

Compute the total estimated misstatements.

c.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

The results indicates the account balance as acceptable.

d.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

If results are not acceptable other course of action available to the auditor.

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Answer 4

Question

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 8, Problem 29RQSC

a.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

The statistical conclusion if no misstatements are found in the sample and whether its account balance acceptable.

b.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

Compute the total estimated misstatements.

c.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

The results indicates the account balance as acceptable.

d.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

If results are not acceptable other course of action available to the auditor.

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Answer 5

Chapter 8, Problem 29RQSC

a.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

The statistical conclusion if no misstatements are found in the sample and whether its account balance acceptable.

b.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

Compute the total estimated misstatements.

c.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

The results indicates the account balance as acceptable.

d.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

If results are not acceptable other course of action available to the auditor.

Answer 6

Chapter 8, Problem 29RQSC

a.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

The statistical conclusion if no misstatements are found in the sample and whether its account balance acceptable.

Answer 7

Chapter 8, Problem 29RQSC

a.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

The statistical conclusion if no misstatements are found in the sample and whether its account balance acceptable.

Answer 8

b.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

Compute the total estimated misstatements.

Answer 9

b.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

Compute the total estimated misstatements.

Answer 10

c.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

The results indicates the account balance as acceptable.

Answer 11

c.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

The results indicates the account balance as acceptable.

Answer 12

d.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

If results are not acceptable other course of action available to the auditor.

Answer 13

d.

To determine

Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.

If results are not acceptable other course of action available to the auditor.

Answer 14

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Answer 15

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Answer 16

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Answer 17

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

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