CAN SOMEONE HELP ME ANSWER THESE QUESTIONS. PLEASE SEE ATTACHED

ACC 693 Chapter 8 Quiz Note: The material contained within these pages is taken directly from your textbook, Computerized Auditing Using ACL Data Analytics. Alterations were made only for formatting and the omission of specific questions. Reference Arens, A. A., Elder, R. J., & Borsum, C. J. (2013). Computerized Auditing Using ACL Data Analytics. (3rd ed.). Okemos, MI: Armond Dalton Publishers, Inc. Assignment #1 Simpson Company: Using ACL in the Audit of the Sales and Collection Cycle - Part 2 Answer all parts of these requirements on this page through page 8-11. It is more convenient to complete the assignment if you remove pages 8-5 through 8-11 now. You are assigned to audit of the sales and collection cycle for Simpson Company that is included in three parts: Chapter 7 Part 1 - Planning the audit of the sales and collection cycle. If you have not completed this part do so before continuing with Part 2. Chapter 8 Part 2 - Tests of controls and substantive tests of transactions in the audit of sales, payments, and other cred its Chapter 9 Part 3 - Tests of the year-end balance of accounts receivable Complete the following requirements using ACL: Q 1. You are concerned that some of the amounts for each of the four transaction types may be misclassified as a negative when they should be a positive, or vice versa. First decide which transaction types should have positive amounts and which ones should have negative amounts. Then determine if there are any misclassifications. List any transactions that are misclassified. (Hints: Use a separate filter for each of the four transaction types. It is not necessary to create any new tables.) Q 2. Account for all document numbers for each of the four transaction types and list all duplicates and missing document numbers, if any. The beginning and ending document number for each type was provided by accounting and is as follows: Sales invoices Beginning 87911 Ending 88723 Payments from customers Credit memos Write-offs 64260 2614 36 64675 2734 36 Q 3. Determine if Simpson follows their established policy for the due date for payment for each sales transaction. Simpson's policy is that the due date for payment is 30, 60, or 90 days from the billing date, depending on the volume of business that the customer does with Simpson in the previous year. For customers with annual sales of less than $100,000 payment is due in 30 days, from $100,000 to $200,000 payment is due in 60 days, and over $200,000 payment is due in 90 days. You believe the 2014 sales amounts are similar to those in the previous years so you should use those amounts to determine whether the policy is being followed for each customer. Q 4. Determine if any customer's accounts receivable balance exceeds the credit limit for that customer in the master file table. List the customer number, accounts receivable balance, and credit limit for those that do. Q 5. Determine the two largest transaction a mounts for each of the four types of transactions (for transaction types with negative balances use absolute values). Identify any that are significant enough to warrant further testing by examining supporting documentation. Q 8. Because one of the tests to be performed on sales involves is considered particularly important, the in-charge asks you to determine the sample size assuming a confidence level of 95%, and an upper error limit of 6% (the expected error rate remains zero). Calculate the revised sample size and explain the result compared to your answer for Question 7. Assignment #2 Jaysberg Electric: Using ACL in the Audit of Accounts Receivable Transactions Answer all parts of these requirements on this page through page 8-23. It is more convenient to complete the assignment if you remove pages 8-15 through 8-23 now. You are responsible for performing tests of controls and substantive tests of transactions for sales and sales returns and allowances in the audit of Jaysberg Electric Co. for the year ended 12/31/14. You will be using ACL to do as many audit tests as possible. You will be using three tables already included for the Jaysberg project: Jaysberg_Auth_Prices, Jaysberg_Sales_Returns, and Jaysberg_Sales_Trans. You will also be using the table of authorized prices. The headings for each table are sufficiently descriptive for your understanding. Complete the following requirements using ACL: For each requirement include the correct answer or exception(s) that you found and other information referred to in the question. Q 1. Perform Verify and Count commands for all three tables and identify any exceptions. Q 2. Test the accuracy of the monthly postings to the general ledger. Note that the table includes a month code. Monthly sales per the general ledger are provided below. January $ 283,329.37 July $ 44,668.29 February March April May June 105,863.36 44,842.76 249.48 189,390.87 133,752.33 August September October November December 11,811.15 141,178.84 658,064.64 601,760.99 404,044.14 Q 3. Perform the following tests of controls. For each control state the command or commands that you did to test the control and the results of the test. a. Document numbers for all documents are accounted for periodically to make sure there are no duplicates or omissions. Control(s): Result(s): b. The unit cost of each product should be no more than 80% of the unit selling price. Control(s): Result(s): c. All shipments are billed within four days of the shipping date. Control(s): Result(s): d. No individual sale is to exceed $150,000. Control(s): Result(s): e. No credit memo for a sales return is more than 60 days after the sale. Control(s): Result(s): Q 4. Perform the following substantive tests of transactions. For each substantive test, state the command or commands that you did to test the amounts and the results of the test. a. Determine that there is a shipping document number for every sales invoice number. Command(s): Result(s): b. Determine the two product numbers with the largest total dollar sales for subsequent follow-up to verify the selling prices and quantities shipped. Command(s): Result(s): c. Determine the two product numbers with the largest unit selling prices for subsequent follow-up to verify the unit selling prices. Command(s): Result(s): d. Compare the authorized prices to the unit selling prices on the sales transactions list. Command(s): Result(s): Q 5. Stratify the sales transactions. Identify and list large transactions that you believe should all be verified by examining supporting documents. Command: Table: Assignment #3 Stabler Services: Using ACL in the Audit of Acquisitions Transactions Answer all parts of these requirements on this page through page 8-31. It is more convenient to complete the assignment if you remove pages 8-27 through 8-31 now. Stabler Services is a privately held services company located in Minneapolis that provides consulting services and conferences for small banks in the U.S. and Canada needing expertise in managing their banks. TM business has nine departments that are all in one location. Department 1 is the administrative department and is responsible for making sure the consulting and conference departments are able to operate effectively. Department 3 includes only part-time salespeople who travel away from Minnesota to attract new business. The other seven departments each offer a different type of service, but they each provide both consulting and conference services. Conferences are an essential part of the business because a conference fee is charged to each participant, which is a major source of revenue for Stabler. Conference information is also the primary way that departments solicit business. You are auditing acquisitions for the year ended 12/31/14 and will be using three files that are already included in ACL in the Stabler Service project as tables. The tables are as follows, with information provided by the IT department in parentheses: Stabler Acquisitions 2014 (320 records; total of invoices amounts $1,128,744.09) Stabler_Chart_of_Accounts (20 records; only for acquisition-related accounts) Stabler_ AP_Master_File (55 records) Complete the following requirements using ACL: Q 2. Use the Statistics command and list any information that appears unusual or you believe should be investigated further. Q 3. Determine if there are any missing vouchers or duplicate numbers. Q 4. Use Join or Relations to determine the account name for each chart of account number in the Stabler_Acquisitions_2014 table. Do the following using the combined table. For each one, state any concerns that you have for potential misstatements: a. Review the account names and identify any monthly expense that is likely to be the same or similar and determine if the amounts are reasonable. Account #: Concern(s): Account #: Concern(s): b. Evaluate whether the expenses charged to Department 1 are reasonable. Account #: Concern(s): c. Evaluate if an expense charged to other departments should have been charged to Department 1. Account #: Concern(s): Q 5. Review and evaluate the expenses for each department. Based on your evaluation identify any transactions you believe should be further investigated. Q 6. Determine if all vendor numbers included in the Stabler-Acquisitions-2014 table are also included in the Stabler_AP_Master_File table. Q 8. Which two vendors does Stabler do the most business with? Does this seem reasonable for the nature of their business? Assignment #4 Eastland Publications: Using ACL in the Audit of Payroll Transactions Answer all parts of these requirements on this page through page 8-37. It is more convenient to complete the assignment if you remove pages 8-35 through 8-37 now. You are assigned to the audit of salary and bonus disbursements for Eastland Publications for the quarter ended 12/31/14. Eastland is a medium-sized publisher of technical journals for a wide variety of industries. Eastland employs approximately 200 salaried professionals, and no hourly employees. Each employee works in one of six departments related to one or two industries. The company was started in 1999 by John Lawson who is still president and chairman of the boa rd. It has grown steadily since then by aggressively seeking new journals to publish and delivering quality publications on time every month. Experienced employees are well paid relative to competing companies in the industry and working conditions a re excellent, resulting in low turnover and experienced people. Starting in May 2014 the company started a new program that hi res entry level liberal arts graduates directly from colleges and universities who have the potential to develop into competent journal designers and editors. Each of these employees starts on the first day of the month and immediately begins a n extensive training program to learn the way Eastland publishes. All employees a re paid one-twelfth of their annual salary monthly, at the end of the month. Withholdings for taxes follow government requirements and vary depending on the salary level and number of dependents. Combined withholding percentages are included in the pay roll master file. In addition to the annual salary, most employees a re paid a n annual bonus in December based on a percentage of their annual salary decided by the board of directors. All employees receive the full bonus percent regardless of their start d ate, as long as they were still employed at December 31. Trainees are not eligible for a bonus. The approved bonus percent is included in the payroll master file. You are assigned to audit the salary payroll for the year ended 12/31/2014, but you will be testing only the last quarter's pay. You will be using two payroll Excel fi les that are included in the Eastland project. The payroll transaction fi le includes all salary transactions for October through December, including the annual bonus. The payroll master table includes all employees who were employed at 9/30/14 plus those who were hired during the last three months of the year. Information about the records in each table was provided by the IT department and is included with the description of the files: Eastland _Payroll_Trans file (753 records; $4,928,955.56 Gross Pay) Eastland Payroll Master file (200 records; $12,127,375 Salary) - Complete the following requirements using ACL: Q 1. Determine that the record count and totals for the two tables are consistent with the information provided by the IT department. Q 2. Determine that all employees on the Eastland- Payroll- Trans table are included in the Eastland Payroll Master table. Q 3. Determine that employees hired on November 1 and December 1 were paid only for the months they were employed. Q 4. Compare the monthly salary for each month on the payroll transaction table with information in the payroll master table. Q 5. Determine if the December bonus payment for each employee is consistent with the policy established by the board of directors. Employees who earn less than $40,000 are trainees and do not receive a bonus. Q 7. Account for all check numbers issued during the period including both missing check numbers and duplicates. The first check number issued in October was 65785 and the last one issued was 67537. Q 8. Compare total salaries, not including the December bonus, for each department and assess whether the amounts appear reasonable