The following is a copy of the auditor?s working paper for auditing additions and disposals relevant to

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The following is a copy of the auditor?s working paper for auditing additions and disposals relevant to the balance of property, plant, and equipment (PPE) for the client New Millennium Ecoproducts.

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a. What assertions are relevant to additions and disposals of PPE?

b. Find the details of the additions. Explain the difference between the two items, particularly with respect to depreciation.

c. Find the details of the disposal. How much was the gain on sale? Why is the auditor interested in the amount of the gain? Explain the comment by the auditor about the disposal in the working paper.

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Related Book For  book-img-for-question

Auditing A Practical Approach with Data Analytics

ISBN: 978-1119401742

1st edition

Authors: Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton

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