19-26 (OBJECTIVE 19-2) You are doing the audit of the UTE Corporation for the year ended December 31, 2016. The following schedule for the property, plant, and. equipment and related allowance for depreciation accounts has been prepared by the client. compared the opening balances with the prior year's audit documentation. You have UTE Corporation Analysis of Property, Plant, and Equipment and Related Allowance for Depreciation Accounts Year Ended December 31,2016 Per Books 12/31/15 Additions Retirements 12/31/16 Final Description Assets Land Buildings Machinery and equipment 3,850,000 404,000 260,000 3,994,000 $ 225,000 $50,000 1,200,000 175,000 $ 275,000 1,375,000 $ 5,275,000 $ 629,000 $260,000 $5,644,000 Allowance for Depreciation $651,500 2,124,700 $ 2,776,200 $600,000 $51,500 Building Machinery and equipment 1,732,500 392,200 $ 2,332,500 $443,700 Chapter 19 /COMPLETING THE TESTS IN THE ACQUISITION AND PAYMENT CYCLE 19-26 (OBJECTIVE 19-2) You are doing the audit of the UTE Corporation for the year ended December 31, 2016. The following schedule for the property, plant, and. equipment and related allowance for depreciation accounts has been prepared by the client. compared the opening balances with the prior year's audit documentation. You have UTE Corporation Analysis of Property, Plant, and Equipment and Related Allowance for Depreciation Accounts Year Ended December 31,2016 Per Books 12/31/15 Additions Retirements 12/31/16 Final Description Assets Land Buildings Machinery and equipment 3,850,000 404,000 260,000 3,994,000 $ 225,000 $50,000 1,200,000 175,000 $ 275,000 1,375,000 $ 5,275,000 $ 629,000 $260,000 $5,644,000 Allowance for Depreciation $651,500 2,124,700 $ 2,776,200 $600,000 $51,500 Building Machinery and equipment 1,732,500 392,200 $ 2,332,500 $443,700 Chapter 19 /COMPLETING THE TESTS IN THE ACQUISITION AND PAYMENT CYCLE