Auditing & Assurance Services
6th Edition
ISBN: 9780077862343
Author: LOUWERS, Timothy J.
Publisher: Mcgraw-hill Education,
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Chapter C6, Problem 4DQ
To determine
State the steps DTS should have taken regarding the GT’s audit of the subsidiary company CI.
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I am searching for the correct answer to this general accounting problem with proper accounting rules.
A
1 DATE VALUE
VALUE
FORMULA
Use E6 "Problem Date" for green cells in col. E & I
C
D
E
F
G
H
VALUE
MEASURE
VALUE
FORMULA
MEASURE
1
Current Date (TODAY)
9
Current Time (NOW)
#N/A
#N/A
Cumulative full days this year
Year to date fraction (YEARFRAC)
Use E6 "Problem Date" for green cells in col. E & I
2
3
4
548
5
3835
6
40468
Problem Date
7
Year (YEAR)
8 Date Value
Fractional Date
Month (MONTH)
9
40468.25
10
40468.375
11
40468.625
12
Day (DAY)
End of month
Start of month
13
Start of next month
14
15 DATE DATA CLEANUP and MANIPULATION
First day of the year
10/8/2019
#N/A
#N/A
#N/A
#N/A
#N/A
#N/A
#N/A
Month to date fraction of year
Day of the week
TIP: Use custom date format to display
as the name of the day (dddd)
Name of month
#N/A
#N/A
#N/A
#N/A
#N/A
Workdays in current month
#N/A
30 workdays (excluding weekends) from today
#N/A
Days between today and 30 workdays from now
#N/A
16
Target
$2,000
17
18 DATE
REVENUE
MONTH
DAY OF WEEK
Hit Target?
MONTH
FORMULAS for TABLE COLUMNS C through E…
Please explain the solution to this general accounting problem with accurate explanations.
Chapter C6 Solutions
Auditing & Assurance Services
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- hello, can u give correct answerarrow_forwardD4 ☑✓ fx 10 11 12 14 12345678901234 A B 4 Investment A 5 Investment B 6 Investment C с D E F Growth Rate (Expected) Year 0 Year 1 Formulas 12% $2,200 #N/A 1% $2,200 3% $2,200 #N/A #N/A 8 "Take each value in column C and multiply it by its adjacent growth rate in column B (which is 1 plus the percentage expected growth)." 0) H J K L M N P R ABSOLUTE CELL REFERENCES 13 Investment A Growth Rate (Expected) 12% Year 0 $2,200 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 15 Formulas #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A 16 17 "Start in column D, then move across allowing the column to change, and multiply the preceding value by its FIXED growth rate in cell $B$13 (which is 1 plus the percentage expected growth) to get the current value." 18 19 FIXED COLUMN / RELATIVE ROW CELL REFERENCES 20 21 22 Investment A 23 Investment B Growth Rate (Expected) Year 0 12% $2,200 1% $2,200 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 24…arrow_forwardI am trying to find the accurate solution to this general accounting problem with the correct explanation.arrow_forward
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