It was stated that each account balance contains assertions about the nature of the item reflected on
Question:
It was stated that each account balance contains assertions about the nature of the item reflected on the financial statements.
Required
Identify the accounting assertions that are contained in the following accounts reflected on a company's financial statements:
• Sales
• Inventory
• Accounts receivable
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (21 reviews)
Sales Existence or occurrence the sales mentioned did occur Completeness the total sales amount repr...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Auditing a business risk appraoch
ISBN: 978-0324375589
6th Edition
Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston
Question Posted:
Students also viewed these Auditing questions
-
In Section 10.4, it was stated that both an arithmetic left shift and a logical left shift correspond to a multiplication by 2 when there is no overflow, and if overflow occurs, arithmetic and...
-
In Chapter 8, it was stated that an essential feature of weirs is that flow achieves critical depth passing over the weir. Because that is the case, derive Equation 9.9 using Equation 6.14, which...
-
In Section 6.4 it was stated that hyperconjugation is less effective in stabilizing the charge on a vinylic cation than the charge on an alkyl cation. Why do you think this is so?
-
Jellio, Maker of Whimsical Furnishings, Considers Growth. Start by asking yourself, who is the customer for this product, not who is currently buying it. There is a difference. Then, where would they...
-
What machining difficulties would you expect to have in making the legs?
-
Raylenes personal automobile is destroyed by a tornado. Her insurance company paid her $5,000, which she used to purchase a new automobile costing $10,000. Raylene received the automobile that was...
-
Probability in a reverse Cocaine Sting: Was Cocaine really Sold? LO9
-
The following are system benefits for Interglobal Paper Company (from Problem 10): Year Benefits 1 ........... $55,000 2 ...........75,000 3 ...........80,000 4 ...........85,000 a. Use the costs of...
-
Given the sample -6 11, add one more sample value that will neither change the median nor the range. Round to two decimal places as necessary. If this is not possible, indicate "Cannot create sample
-
The city manager of a large midwestern city was negotiating with the three unions that represented the police, firefighters, and building inspectors over the salaries for these groups of employees....
-
Audits of financial statements are designed to test the correctness of account balances. Required a. A construction company shows the following assets on its balance sheet Construction equipment...
-
The AICPA has issued attestation standards in recognition that attestation services can be much broader than audits of an entity's financial statements. One type of an attestation is a "fairness...
-
Refer to the Simon Company information in Exercises 13-6 and 13-8. Compare the company's long-term risk and capital structure positions at the end of 2015 and 2014 by computing these ratios: (1) Debt...
-
What can you do to plan ahead and educate others about the international groups? Consider How do you communicate during the meeting with your colleagues?
-
What do you think should be the role of personality tests in candidate selection? Do you think they should play a major, minor or no part in an organization\'s hiring decision for a job? What are...
-
What channels do our target customers prefer for discovering, researching, and purchasing products? How do cultural or societal shifts affect consumer attitudes and behaviors towards our products or...
-
What role do symbolic artifacts and rituals play in the construction and maintenance of organizational culture, and how do they influence employee identification and commitment ?
-
Describe all you would do and what you would consider in converting some or all of your employees to independent contractors, the rate you would pay and the reason therefor and how it would be paid....
-
(ModelCost sheet quotation) The accounts of ABC Co. Ltd. show the following: What price the company quote to manufacture a machine which will require an expenditure of Rs. 1,000 in materials and Rs....
-
A survey of 70 college freshmen asked whether students planned to take biology, chemistry, or physics during their first year. Use the diagram to answer each question. How many of the surveyed...
-
In caches, we use both write-through and write-back as potential writing approaches. But for virtual memory, only an approach that resembles writeback is used. Give a sound explanation of why this is...
-
What are the strengths of MUS? Provide at least three examples in which MUS might be used.
-
Practice calculating the sample size in a MUS sample using Exhibit with the following combinations ofinputs. Ratio of Expected to Tolerable Ratio of Tolerable Misstatement to Risk of Incorrect...
-
Calculate the sampling interval for cases a. through h. in Problem, assuming a population size of $8,500,000. Recall that sampling interval = population size ÷ sample size. Round the...
-
Diplomatic Security Service provides Airport Transportation and Surveillance Service to Foreign Diplomats in Guyana. The company has two support departments - Information Systems and Equipment...
-
Q1: A disparity of bargaining power between the parties to a contract may result in unfair terms but a court is not likely to consider the contract unconscionable. Group of answer choices a. True b....
-
Life Tool Manufacturing has a system in place to recall products that prove to be dangerous at some time after manufacture and distribution. This represents which element of the due care theory?...
Study smarter with the SolutionInn App