Refer to the master file data for the auditors program. Assume the following information about three customer

Question:

Refer to the master file data for the auditor’s program. Assume the following information about three customer accounts.

a. Customer No. 500 has an \($8,000\) balance, of which \($6,000\) is current, \($1,000\) is 31-60 days old, and \($1,000\) is 61-90 days old.

b. Customer No. 501 has a \($4,000\) balance, of which \($3,500\) is current and \($500\) is over 90 days old.

c. Customer No. 502 has a \($3,000\) balance, all of which is current.

Required:

Using the program flowchart to read accounts receivable master files, located, indicate which accounts would have positive confirmations sent by the auditors. Also indicate the exception messages, if any, that would be sent on these three accounts.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Auditing Integrated Concepts And Procedures

ISBN: 9781260299397

5th Edition

Authors: Donald H. Taylor, G. William Glezen

Question Posted: