can someone help me solve these problems,, please!

3-24 Gruen Corporation is a large diversified equipment and intangible assets, including g0odwill rge amonnt of property. P ner enced a significant t year the company decline in a number its lines of business. What risk of material misstatement is indicated from the information provided? escribe how the auditors would generally obtain evidence abou Kadex auditors durine the retained Jones & Scranton, CPAS, to nerforman audit for the vear ended December 31 Off- cials of the company requested that the CPA firm perform pre Du itreport sitions of plant 3-25 the value of goodwill. mall manufacturing company, did not use the services of independent only the audit work necessary to on the financial statements for the current year. x ha eated son and equipment as resanu e No u od in tha tid CPAS, be likely to learm of the trans- and 2? Explain. a Under these circumstances, would Jones & Scranton. actions erroneously treated as revenue expenditures years b. Would the income statement and balance sheet prepared at the end of year 3 be affected by the above accounting errors made in years and 2? If so, identify the specific items. plain fully Allen als Corporation, and lowa Metals Cornoration. Each of the three cornorations owned lund and buildings acquired for approximately S500,000. estimated the - 26 president of three Met- retained by Fraser in 20X1 An appraise of the land and buildings in each corporation at approximately current value e ierde in the accounts. A new corporation, called Mid- west Comoratin purchased the assets The balance sheet amount of $9,000,000, the carrying values to the vendor dwest Corporation. Do you consider this treatment acceptable of the three predecessor corporations, making payment in capital stock f Midwest Corporation shows land and buildings "valued at cost" in the companies at the time of transfer to ? Explain pleted its first fiscal course of your audit you discover the following entry in the general year March 31, 20X4. During the journal, dated April 1, 20X3 27 Building Mor 2,400,000 tgage Note Payable 1,400.000 Common Stock 1,000,000 To record proprietorship) of the building; and (3) issuance of entire authorized common (1) acquisition of building constructed : ( 2) assumption of Ross Construction Co. mortgage by J. A. Ros a sole eloan for construc stock (10,000 shares, $100 par value ) to J. Ross. Under these recorded cost of the building? Explain fully. circumstances, what steps should the auditors take to verify the $2,400.000 28 Case Corporation, you agement that the corporation had recently you were retained to audit the financial statements learned from man: business, the Mall Com acquired tion, you rized by the competing find that the total purchase price was paid in cash and that the transacti board of directors and fully described in the minutes o the acquisition of the Mall Company that raises ol lhe the directors' meetings any doubts in your mind is The only aspect the allocation of the total purchase price among the several kinds of assets acquired. The allo- values on the tn te board of directors of Case Coporation believe that the allocation of the allowed nothing for goodwill. ral types of placed very high You are inclined t assets was somewhat unreasonable because the total price for the business was as t more than the current replacement cost of the tangible assets tor, you do not claim to allocation expert in property values. f the lump-sum purchase price? acquired. However, as an audi- Would you question the propriety of a Explain fully auditors to determin of all audit procedures that might all property and equipment retirements List and i reasonably be applied by the have been recorded in the accounting records