ANALYSIS OF SUPERIOR COMPANY PROPERTY, PLANT AND EQUIPMENT AS OF DECEMBER 31, 2008
Property, Plant, and Equipment							Accumulated Depreciation
	Balance				Balance			Balance			Balance
Account	12/31/07	Additions	Disposals	Other	12/31/08	Life	Method	12/31/07	Provision	Disposal	12/31/08
Land	650,000				650,000 T2
Building	3,270,000	230,000		(30,000)	3,470,000 T2	20 years	S/L	1,144,500 T	168,500 R		1,313,000 T2
Equipment	1,750,000	90,000	(12,000) X	30,000	1,858,000 T2	10 years	S/L	700,000 T	179,500 R	(12,000)	867,500 T2
	5,670,000	320,000	(12,000)	0	5,978,000			1,844,500	368,000	(12,000)	2,189,500
What audit test would each of the following symbols (tickmarks) represent?
							AUDIT TESTS
=							1. Does not recompute correctly.
							2. Tested reasonableness of calculation
							3. Traced amount to current year's trial balance and general ledger.
=							4. Reclassification entry for equipment erroneously recorded as building.
							5. Reclassification entry for building erroneously recorded as equipment.
							6. Traced amount to prior year's working papers.
=							7. Sold equipment to employees. Traced cash receipt into cash receipt journal.
							8. Confirmed with exception.
							9. Confirmed without exception.
=							10. Examined supporting vendors' invoices, canceled checks, asset subsidiary ledger,
							and board of directors' minutes of meetings authorizing transactions.
							11. Examined supporting work orders and engineers' reports, canceled checks, asset
X =							subsidiary ledger, and board of directors' minutes of meetings authorizing transactions.
							12. Examined supporting deed and purchase contract, canceled checks, asset subsidiary
							ledger, and board of directors' minutes of meetings authorizing transactions.
T2 =
R =
EXTRA QUESTION:
There is a big problem with this workpaper that many auditors
would overlook. What is it?