Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need to know the total assets, total liabilities, total equity and gross profit for both years. Can ypu show how ypu get the answer.

I need to know the total assets, total liabilities, total equity and gross profit for both years. Can ypu show how ypu get the answer. then questions 1-10. image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
ABC Client 2 Preliminary Analytics - PRC Tri lance 3 December 31, 2019 Scope: Performance Materiality=$210,000 and 10% Account Class 12/31/19 Balance 12/31/18 Balance Valance Variance 1931,393) 3,846,482 1631,355) [1,218,201) 427,347 322.900 2,780,678 (19,680) 184,564 649,786 873,950 -32 27 -27% 35% 16 19% 143N 2 -15N Investments Accounts Receivable Inventory Prepalds and Other Assets Fixed Assets Intangibles Current Portion of Debt Accounts Payable Accruals and other abilities Long Term Debt Common Stock APIC AOCI Retained Earnings Revenues Cost of Goods Sold Other Income SG&A Depreciation Interest Expense Income Tax Expense 1,940,636 17,884 359 1,739,185 2,278,220 3,046,824 2,049,917 4,723,026 (873,950) (1,049,324) (1,805,961) (5,541,772) (1,000,000) (5,000,000) 681,275 110,721,842) (38,567,154) 18,223,005 (1,324,646) 10,392,187 699,100 372,887 1,854,028 2,872,029 14,037,877 2,370,540 3,496,421 2,619,477 1,727,017 1,942,348 1854,270) (1,233,888) (2,455,747) (6,415,722) (1,000,000) (5,000,000) (1,384,240) (4,564,183) (37,995,152) 17,911,437 (1,684,417) 11,685,148 678,100 460,337 2,786,888 2,065,515 16,157,659) 1572,002) 311,568 359,771 (1,292,961) 21,000 (87.450) 1932,860) -14% ON ON -149 135% 2% 2% 21% 3 -19% BI ST Total Assets Analytics Evidence + AQG Retained Earnings Revenues Cost of Goods Sold Other Income SGAA Depreciation Interest Expense Income Tax Expense 681,275 (10,721,842) (38,567,154) 18,223,005 (1,324,646) 10,392,187 699,100 372,887 1,854,028 (1,384,240 (4,564,183) (37,995,152) 17,911,437 (1,684,417 11,685,148 678,100 460,337 2,786,888 2,065,515 (6,157,659) (572,002) 311,568 359,771 (1,292,961) 21,000 (87.450) 1932,860 -149% 135 2x 2 -21% 3N 24 25 26 27 28 29 30 31 32 23 34 35 36 37 38 39 40 41 42 43 Total Assets Total Libilities Total Equity Net Income 8,350,593 6,157,659 Gross Profit 5 45 46 47 Analytics Evidence + Selection What evidence should be used/obtained in completing the following tasks? 1 Auditor would like to verify the amount of cash in the Pith Third Rank operating account at December 31, 2019 2 Auditor would like to see that client is in fact building a new headquarters 3 Auditor would like to determine whether the inventory quantities are appropriate 4 Auditor would like to determine whether the assigned Inventory costs per unit are appropriate 5 Auditor needs to determine the current portion of debt 6 Auditor needs to get an understanding of the inventory controls in place for receipt of goods 7 Auditor would like to understand why sales declined so much during the year 8 Auditor would like to gain a further understanding of how the client calculates their allowance for doubtful accounts 9 Auditor would like to determine whether the client correctly catagorized the AR Aging 10 Auditor would like to compare production volumes in order to gather expectations for auditing inventory ABC Client Preliminary Analytics. PBC Trial Balance December 31, 2019 Scope: Performance Materiality - $210,000 and 10% Varlance % Variance Account Class Cash Investments Accounts Receivable Inventory Prepalds and Other Assets Fixed Assets Intangibles Current Portion of Debt Accounts Payable Accruals and Other Liabilities Long Term Debt Common Stock APIC AOCI Retained Earnings Revenues Cost of Goods Sold Other Income SG&A Depreciation Interest Expense Income Tax Expense Total Assets Total Libilities Total Equity Net Income Gross Profit 12/31/19 Balance 1,940,636 17,884,359 1,739,185 2,278,220 3,046,824 2,049,917 4,723,026 (873,950) (1,049,324) (1,805,961) (5,541,772) (1,000,000) (5,000,000) 681,275 (10,721,842) (38,567,154) 18,223,005 (1,324,646) 10,392,187 699,100 372,887 1,854,028 12/31/18 Balance 2,872,029 14,037,877 2,370,540 3,496,421 2,619,477 1,727,017 1,942,348 (854,270) (1,233,888) (2,455,747) (6,415,722) (1,000,000) (5,000,000) (1,384,240) (4,564,183) (37,995,152) 17,911,437 (1,684,417) 11,685,148 678,100 460,337 2,786,888 What evidence should be used/obtained in completing the following tasks? 1 Auditor would like to verify the amount of cash in the Fifth Third Bank operating account at December 31, 2019 2 Auditor would like to see that client is in fact building a new headquarters 3 Auditor would like to determine whether the inventory quantities are appropriate 4 Auditor would like to determine whether the assigned inventory costs per unit are appropriate 5 Auditor needs to determine the current portion of debt 6 Auditor needs to get an understanding of the inventory controls in place for receipt of goods 7 Auditor would like to understand why sales declined so much during the year 8 Auditor would like to gain a further understanding of how the client calculates their allowance for doubtful accounts 9 Auditor would like to determine whether the client correctly catagorized the AR Aging 10 Auditor would like to compare production volumes in order to gather expectations for auditing inventory ABC Client 2 Preliminary Analytics - PRC Tri lance 3 December 31, 2019 Scope: Performance Materiality=$210,000 and 10% Account Class 12/31/19 Balance 12/31/18 Balance Valance Variance 1931,393) 3,846,482 1631,355) [1,218,201) 427,347 322.900 2,780,678 (19,680) 184,564 649,786 873,950 -32 27 -27% 35% 16 19% 143N 2 -15N Investments Accounts Receivable Inventory Prepalds and Other Assets Fixed Assets Intangibles Current Portion of Debt Accounts Payable Accruals and other abilities Long Term Debt Common Stock APIC AOCI Retained Earnings Revenues Cost of Goods Sold Other Income SG&A Depreciation Interest Expense Income Tax Expense 1,940,636 17,884 359 1,739,185 2,278,220 3,046,824 2,049,917 4,723,026 (873,950) (1,049,324) (1,805,961) (5,541,772) (1,000,000) (5,000,000) 681,275 110,721,842) (38,567,154) 18,223,005 (1,324,646) 10,392,187 699,100 372,887 1,854,028 2,872,029 14,037,877 2,370,540 3,496,421 2,619,477 1,727,017 1,942,348 1854,270) (1,233,888) (2,455,747) (6,415,722) (1,000,000) (5,000,000) (1,384,240) (4,564,183) (37,995,152) 17,911,437 (1,684,417) 11,685,148 678,100 460,337 2,786,888 2,065,515 16,157,659) 1572,002) 311,568 359,771 (1,292,961) 21,000 (87.450) 1932,860) -14% ON ON -149 135% 2% 2% 21% 3 -19% BI ST Total Assets Analytics Evidence + AQG Retained Earnings Revenues Cost of Goods Sold Other Income SGAA Depreciation Interest Expense Income Tax Expense 681,275 (10,721,842) (38,567,154) 18,223,005 (1,324,646) 10,392,187 699,100 372,887 1,854,028 (1,384,240 (4,564,183) (37,995,152) 17,911,437 (1,684,417 11,685,148 678,100 460,337 2,786,888 2,065,515 (6,157,659) (572,002) 311,568 359,771 (1,292,961) 21,000 (87.450) 1932,860 -149% 135 2x 2 -21% 3N 24 25 26 27 28 29 30 31 32 23 34 35 36 37 38 39 40 41 42 43 Total Assets Total Libilities Total Equity Net Income 8,350,593 6,157,659 Gross Profit 5 45 46 47 Analytics Evidence + Selection What evidence should be used/obtained in completing the following tasks? 1 Auditor would like to verify the amount of cash in the Pith Third Rank operating account at December 31, 2019 2 Auditor would like to see that client is in fact building a new headquarters 3 Auditor would like to determine whether the inventory quantities are appropriate 4 Auditor would like to determine whether the assigned Inventory costs per unit are appropriate 5 Auditor needs to determine the current portion of debt 6 Auditor needs to get an understanding of the inventory controls in place for receipt of goods 7 Auditor would like to understand why sales declined so much during the year 8 Auditor would like to gain a further understanding of how the client calculates their allowance for doubtful accounts 9 Auditor would like to determine whether the client correctly catagorized the AR Aging 10 Auditor would like to compare production volumes in order to gather expectations for auditing inventory ABC Client Preliminary Analytics. PBC Trial Balance December 31, 2019 Scope: Performance Materiality - $210,000 and 10% Varlance % Variance Account Class Cash Investments Accounts Receivable Inventory Prepalds and Other Assets Fixed Assets Intangibles Current Portion of Debt Accounts Payable Accruals and Other Liabilities Long Term Debt Common Stock APIC AOCI Retained Earnings Revenues Cost of Goods Sold Other Income SG&A Depreciation Interest Expense Income Tax Expense Total Assets Total Libilities Total Equity Net Income Gross Profit 12/31/19 Balance 1,940,636 17,884,359 1,739,185 2,278,220 3,046,824 2,049,917 4,723,026 (873,950) (1,049,324) (1,805,961) (5,541,772) (1,000,000) (5,000,000) 681,275 (10,721,842) (38,567,154) 18,223,005 (1,324,646) 10,392,187 699,100 372,887 1,854,028 12/31/18 Balance 2,872,029 14,037,877 2,370,540 3,496,421 2,619,477 1,727,017 1,942,348 (854,270) (1,233,888) (2,455,747) (6,415,722) (1,000,000) (5,000,000) (1,384,240) (4,564,183) (37,995,152) 17,911,437 (1,684,417) 11,685,148 678,100 460,337 2,786,888 What evidence should be used/obtained in completing the following tasks? 1 Auditor would like to verify the amount of cash in the Fifth Third Bank operating account at December 31, 2019 2 Auditor would like to see that client is in fact building a new headquarters 3 Auditor would like to determine whether the inventory quantities are appropriate 4 Auditor would like to determine whether the assigned inventory costs per unit are appropriate 5 Auditor needs to determine the current portion of debt 6 Auditor needs to get an understanding of the inventory controls in place for receipt of goods 7 Auditor would like to understand why sales declined so much during the year 8 Auditor would like to gain a further understanding of how the client calculates their allowance for doubtful accounts 9 Auditor would like to determine whether the client correctly catagorized the AR Aging 10 Auditor would like to compare production volumes in order to gather expectations for auditing inventory

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

Accounting Tools For Business Decision Making

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

4th Edition

0470534788, 978-0470534786

More Books

Students also viewed these Accounting questions

Question

20. What is a feature detectorpg99

Answered: 1 week ago

Question

What is regret ? (p. 2 49)

Answered: 1 week ago

Question

Explain the meaning of ergonomics.

Answered: 1 week ago