i have submit this same problem but the amounts were not pick up correctly the number are hundred thousand not million ex 123,456

CX-4: FINANCIAL STATEMENT MATERIALITY WORKSHEET FOR PLANNING PURPOSES Balance Sheet Date: Company Completed by: Instructions 1. This form should be completed for all audit engagement See Section 203. The purpose of this form is to determine and document the materiality amount that will be considered suitable for aud planning purposes. 2. Use amounts from the financial statements to be audited or the trial balance from which those financial statements will be prepared whenever available. not available, use annuaired amounts from the most recent interim financial statements. For revenue, use an annualized amount even if the period is shorter than a year 3. When current amounts we unavailable or when significant audit adjustments to client prepared accounting data are expected, use historical averages based on the past two or three years. (Attach the calculation on a separate page.) 4. Based on your professional judgment determine a planning materiality amount using the following table as a guideline. (Amounts should be rounded to two significant digits) Planning Materiality is: Amount + Percent x Base) 05.5% If the Base Amount (larger of total assets or total revenue) is: Over But Not Over 30 $50 thousand $50 thousand $100 thousand $100 thousand $500 thousand $500 thousand $1 milion $1 million $5 million 1250 + 3.0% 2.250 2.0% 7500 1045 9.500 + 0.8% $5 million 19.500 0.5% $10 $50 $10 milion million million million 40 00000 $50 milion $100 115 000 - 0.25% $100 milion 15 000 0.19% Example: the base amount were $3.5 million, then the planning materiality amount would be as follows: $9.500 (003 x $3.500.000 $37500 Round amount to two significant digita: 538,000 De m wd computing and welcoming become ang PCsEnamorare Per ader during the e n Index Calculations 1. Planning Materiality. (Complete a and b.) a. BASE AMOUNT (larger of total revenue or total assets) Total Revenue (Annualize if interim amount is used.) 490700 847,400 Total Assets b. PLANNING MATERIALITY CALCULATION Amount Percentage from Table + from Table Base Amount Planning Materiality" 2. Tolerable Misstatement. Tolerable misstatement is used in computing sample sizes and in making other scope decisions. As a rule of thumb, tolerable misstatement can be computed as follows: Planning Materiality Amount from Line 1b X Factor Tolerable Misstatement1 3. Individually significant items. The dollar amount used to identify individually significant dollar items can be any amount up to tolerable misstatement. CX Ta provides guidance on determining individually significant items for specific account balances or transaction classes. Round to two significant digits. If reliable estimates can be made of uncorrected known misstatement and likely misstatement, tolerable mis- statement may be computed as follows: Planning Uncorrected Likely Tolerable Materiality Misstatement Misstatement Misstatement Known Files 3:37 PM Sun Feb 16 * 100% Sandifer's Trial balance Home Insert Draw Formulas Data Review View Calibri (Body) 11 B LUB A EE5 4 3 O Sandifer's Accounting Service, Inc. Trial Balance For the year ended 12/31/19 Debit Credit $ 156,500 116,650 $ 51,250 2,950 1,700 260,000 125,000 111,500 167,000 24,000 5,650 & Cash 9 Accounts Recieveable 10 Allowance for Doubtful Accounts 11 Supplies 12 Prepaid insurance 13 Building 14 Equipment 15 Land 16 Accumulated Depreciation 17 Investment in Bonds held to Maturity 18 Accounts Payable 19 Current Maturity of Note Payable 20 Note Payable 21 Unearned Revenue 22 Interest Payable 23 Salaries Payable 24 common stock 25 Retained earnings 26 Service Revenue 27 Advertising Expense 28 Depreciation Expense 29 Insurance Expense 30 interest Expense 31 Rent Expense 32 Salaries Expense 33 Supplies Expense 34 Travel Expense 35 Utilities Expense 36 Loss on Sale of Equipment 37 Total 170,000 2,000 1,500 1,950 49,100 100,000 488,700 6,000 55,600 5.800 6,700 155,000 2,200 6.200 $ 1,040,150 $ 1,040,150 Sheet1 Sheet2 Sheet3 + CX-4: FINANCIAL STATEMENT MATERIALITY WORKSHEET FOR PLANNING PURPOSES Balance Sheet Date: Company Completed by: Instructions 1. This form should be completed for all audit engagement See Section 203. The purpose of this form is to determine and document the materiality amount that will be considered suitable for aud planning purposes. 2. Use amounts from the financial statements to be audited or the trial balance from which those financial statements will be prepared whenever available. not available, use annuaired amounts from the most recent interim financial statements. For revenue, use an annualized amount even if the period is shorter than a year 3. When current amounts we unavailable or when significant audit adjustments to client prepared accounting data are expected, use historical averages based on the past two or three years. (Attach the calculation on a separate page.) 4. Based on your professional judgment determine a planning materiality amount using the following table as a guideline. (Amounts should be rounded to two significant digits) Planning Materiality is: Amount + Percent x Base) 05.5% If the Base Amount (larger of total assets or total revenue) is: Over But Not Over 30 $50 thousand $50 thousand $100 thousand $100 thousand $500 thousand $500 thousand $1 milion $1 million $5 million 1250 + 3.0% 2.250 2.0% 7500 1045 9.500 + 0.8% $5 million 19.500 0.5% $10 $50 $10 milion million million million 40 00000 $50 milion $100 115 000 - 0.25% $100 milion 15 000 0.19% Example: the base amount were $3.5 million, then the planning materiality amount would be as follows: $9.500 (003 x $3.500.000 $37500 Round amount to two significant digita: 538,000 De m wd computing and welcoming become ang PCsEnamorare Per ader during the e n Index Calculations 1. Planning Materiality. (Complete a and b.) a. BASE AMOUNT (larger of total revenue or total assets) Total Revenue (Annualize if interim amount is used.) 490700 847,400 Total Assets b. PLANNING MATERIALITY CALCULATION Amount Percentage from Table + from Table Base Amount Planning Materiality" 2. Tolerable Misstatement. Tolerable misstatement is used in computing sample sizes and in making other scope decisions. As a rule of thumb, tolerable misstatement can be computed as follows: Planning Materiality Amount from Line 1b X Factor Tolerable Misstatement1 3. Individually significant items. The dollar amount used to identify individually significant dollar items can be any amount up to tolerable misstatement. CX Ta provides guidance on determining individually significant items for specific account balances or transaction classes. Round to two significant digits. If reliable estimates can be made of uncorrected known misstatement and likely misstatement, tolerable mis- statement may be computed as follows: Planning Uncorrected Likely Tolerable Materiality Misstatement Misstatement Misstatement Known Files 3:37 PM Sun Feb 16 * 100% Sandifer's Trial balance Home Insert Draw Formulas Data Review View Calibri (Body) 11 B LUB A EE5 4 3 O Sandifer's Accounting Service, Inc. Trial Balance For the year ended 12/31/19 Debit Credit $ 156,500 116,650 $ 51,250 2,950 1,700 260,000 125,000 111,500 167,000 24,000 5,650 & Cash 9 Accounts Recieveable 10 Allowance for Doubtful Accounts 11 Supplies 12 Prepaid insurance 13 Building 14 Equipment 15 Land 16 Accumulated Depreciation 17 Investment in Bonds held to Maturity 18 Accounts Payable 19 Current Maturity of Note Payable 20 Note Payable 21 Unearned Revenue 22 Interest Payable 23 Salaries Payable 24 common stock 25 Retained earnings 26 Service Revenue 27 Advertising Expense 28 Depreciation Expense 29 Insurance Expense 30 interest Expense 31 Rent Expense 32 Salaries Expense 33 Supplies Expense 34 Travel Expense 35 Utilities Expense 36 Loss on Sale of Equipment 37 Total 170,000 2,000 1,500 1,950 49,100 100,000 488,700 6,000 55,600 5.800 6,700 155,000 2,200 6.200 $ 1,040,150 $ 1,040,150 Sheet1 Sheet2 Sheet3 +