Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

7 points During auditing the sales and payment cycle, the audit manager gives you comparative information for inventory and accounts payable and calculated the days

image text in transcribed
7 points During auditing the sales and payment cycle, the audit manager gives you comparative information for inventory and accounts payable and calculated the days purchases accounts payable: 2020 2021 Inventory 40,970 AED 67,150 AED Account payable 9.300AED 11,800 Days purchases in account payable 412 365 days/payable turnovers 41.6 Required: Your superior asks you to analyze the tables and to discuss a list of possible concerns that you might have about potential misstatements in both accounts Marks) For the toolbar, press ALT F10 PC or ALTHEN F10 Mac B TV5 Paragraph Arla 10pt T: x X2 119

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

EDI Security Control And Audit

Authors: Albert J. Marcella Jr, Sally Chan, John Merriam

1st Edition

0890066108, 978-0890066102

More Books

Students also viewed these Accounting questions