This problem requires the use of ACL software, which can be accessed through the textbook website. Information

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This problem requires the use of ACL software, which can be accessed through the textbook website. Information about downloading and using ACL and the commands used in this problem can also be found on the textbook website. You should read all of the reference material, especially the material on sampling, to answer questions a. through d. For this problem, use the “Invoices” file in the “Sales and Collection” subfolder under tables in the ACL_Rockwood project. This file contains information on sales invoices generated during calendar year 2014, including those that have been paid versus those still outstanding. The suggested command or other source of information needed to solve the problem requirement is included at the end of each question. 


Required:

a. Using the Invoices file, filter the file to retain only those invoices that are still outstanding and save this filter as “Accounts Receivable” (Filter). Determine the number and total dollar amount of the outstanding invoices (Total). 

b. Determine accounts receivable outstanding from each customer and total the amount for comparison to part a. (Summarize and Total). Which customer number has the largest balance due? 

c. What is the largest and smallest account balance outstanding? (Quick Sort) 

d. Using the “Accounts_Receivable” data, age the balances based on invoice date. Use December 31, 2014, as the cutoff date, and enter aging periods of 0, 30, 60, and 90 days. (Age) How many invoices are more than 90 days outstanding? How will the auditors use the aging information in the audit of accounts receivable?

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Auditing And Assurance Services An Integrated Approach

ISBN: 9780135176146

17th Edition

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley

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