I will like answers to problems 3 , problem 4, problem 5 of the attached document. Thanks

ACL Assignments The ACL software bundled with the textbook comes with a tutorial, which is a PDF file entitled, \"ACL in Practice.\" The tutorial contains 7 Chapters and utilizes the sample data files that are included when ACL is installed on your computer. In addition to the exercises imbedded within the ACL in Practice, the Messier/Glover/Prawitt author team has created ACL problems for each chapter. A new data set entitled Roger Company, created for Messier/Glover/Prawitt, is introduced in Chapter 3. The Roger Company data set is used to solve the ACL end-of-chapter problems for Chapters 3-21, which are more focused on auditing concepts than are the exercises included in the tutorial. Chapter 1 ACL Exercises and Problems Read Chapter 1: Introducing Metaphor Corporation of the ACL in Practice (Note: ACL software is bundled with each copy of the textbook. Insert the ACL disk and follow the instructions to install the software (ACL 9 Educational Edition) and related documentation. (ACL 9 User Documentation)) To access the ACL in Practice tutorial file: 1. After installing the ACL software (ACL 9 Educational Edition) and the ACL Manuals (ACL 9 User Documentation), open the Start Menu on your computer 2. Click All Programs 3. Find the \"ACL Desktop Education Edition\" folder icon 4. Single click or place your mouse on the \"ACL Desktop Education Edition\" folder icon to display the folder contents (i.e., ACL Desktop Education Edition, ACL Help, ACL in Practice, ACL Utility, Readme). 5. Click on \"ACL in Practice\" to open the tutorial 6. Alternatively, you can navigate directly to the file, ACL_in_Practice.pdf, in the folder where ACL manuals are saved on your hard drive (e.g., C:\\ACLManualsV9) Chapter 2 ACL Exercises and Problems You will find a video with the solution for these problems in the ACL folder. You should not submit the answers to these Chapter 2 problems...use them and the video to increase your understanding of the ACL software. Problem 1 Create a filter to display the employees at Metaphor Company that were hired after January 1, 2000 and who make $60,000 per year or more in salary. How many records result from the filter described? Include the expression you used to create the filter in your solution. Problem 2 Use ACL to compute how much was paid in commissions to Metaphor Agents (Comm 2002 column, Agents_Metaphor table). ACL Assignments The McGraw-Hill Companies, Inc., 2014 ACL-1 Problem 3 How does computing the amount paid in commissions to Metaphor agents in Problem 2 help an auditor verify the management assertion of completeness? You will submit the solutions for the next three chapter exercises and problems in a Word document. Do not include the questions in your Word document...just the solution. Chapter 3 ACL Exercises and Problems Problem 1 Using the Metaphor Company data, edit the layout of the Employee_List table to form a new column for total compensation (salary plus bonus). Now determine how many employees earned more than $75,000 in total compensation in 2002 (use the Metaphor Company data for this problem). Problem 2 Roger Company is a mid-size company located in the Midwest that handles the distribution of various home and garden products. You are part of the engagement team assigned to audit the financial statements of Roger Company. Roger Company has been a client of your firm for many years, and your firm has rarely encountered any problems with them. However, the engagement partner has made it very clear to you that there is no room for mistakes. Your tasks as one of the auditors on the engagement are outlined below and in other problems of the remaining chapters. Please download the Roger Company ACL data files, found under Course-Wide Content, ACL Content folder on the Student Edition of your text's Online Learning Center, www.mhhe.com/messier9e. The Roger Company files are already in ACL format; however the files must first be extracted or \"unzipped.\" After unzipping the files, click on FILE from the menu toolbar and use the OPEN PROJECT command to navigate to where you have saved the \"Roger Company 9e\" file and open the project. Net income before taxes at Roger Company is stable, predictable, and representative of its size. The auditors at Roger Company calculate materiality to be 5 percent of net income before taxes. Net income before taxes at Roger Company for fiscal 2013 is $1,388,500. (a) What is materiality for the audit of Roger Company's 2013 financial statements? (b) Use ACL to determine if the reported AR account balance, $487,000, is materially different from the detailed files in Rogers Company AR table. (c) Define tolerable misstatement as 60 percent of materiality and report the amount. (d) What might cause differences between the number reported in the financial statements and the details in the file? Problem 3 The McGraw-Hill Companies, Inc., 2014 ACL-2 Auditing & Assurance Services, 9/e As a quality control procedure, management at Roger Company reviews each approved vendor at least once a year. In the reviews, management compares pricing across vendors, retests products being purchased from vendors to ensure they meet quality control standards, and performs testing to ensure purchasing personnel are not inappropriately favoring a vendor or potentially colluding with vendors (e.g., receiving kickbacks from the vendors). Use ACL to check the Roger Company Vendors table to make sure each vendor has been reviewed sometime since January 1, 2013. 1. Open the Roger Company Vendors table 2. Click on the Edit View Filter button to open the Edit view filter dialogue box 3. 4. 5. 6. 7. 8. In the Available Fields list, double-click on the Last_Review field Click on the \"90 day past due category as of the reporting date (in this case December 31). Use the Roger Company AR table in ACL and the Analyze >> Age command to re-compute the allowance for uncollectible accounts. In addition to re-computing the allowance for uncollectible accounts, include the aging table that you are asked to complete. 1. Once in the Roger Company AR Table, click the Analyze drop down menu. 2. Click Age. 3. In the Age dialog box, click the Age On button and make sure Due_Date is the selected field. 4. Change the cutoff date to December 31, 2013. 5. In the Aging Periods box, delete the numbers 10000 and 120 so that your table will compute a >90 day past due total. 6. Highlight the Amount field under the Subtotal Fields column. 7. Click OK. Problem 2 Assuming no cash is collected on past due accounts, how much will be more than 60 days past due as of January 31, 2014? The McGraw-Hill Companies, Inc., 2014 ACL-4 Auditing & Assurance Services, 9/e Chapter 5 ACL Exercises and Problems Problem 1 How many inventory items at Roger Company have a market value that exceeds $9,000? What is the total market value of those items? How many inventory items at Roger Company have a value-at-cost in excess of $9,000? What is the total value-at-cost of those items? Problem 2 Use information from Roger Company to determine how many inventory items have a market value lower than their original value-at-cost. What is the total market value of those items? What is the total value-at-cost of those items? ACL Assignments The McGraw-Hill Companies, Inc., 2014 ACL-5