Johnson Inc. is being audited by Thompson, CPA. The auditor determines that the objectives stated below will be part of Johnson's audit. Double-click on each shaded cell and select the substantive test that would most likely be utilized as support for the objective. A substantive test may be used once, more than once, or not at all.

Substantive Tests:

Select cash disbursements made after year-end and examine supporting documentation

Select cash disbursements made before year-end and examine vendor invoices

Confirm with third-party confirmation

Obtain and read the financial statements and audit report of the investee. Apply appropriate calculations

Perform analytical procedures to test the reasonableness of amount.

Agree the year-end market value reported on the financial statements to various sources, such as Moody's or finance.yahoo.com

Determine management's intent to hold securities.

Inspect the property ledger and then tour the client's facility.

Analyze the repair and maintenance account and then tour the client's faciliity

Obtain vendor invoices and then analyze property ledger.

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Objective	Substantive Tests
1. Accounts Payable includes all outstanding balances as of year-end.	Select cash disbursements made before year-end and examine vendor invoices
2. Equity in investee income is fairly stated.
3. All stock issued is included on the balance sheet.	Agree the year-end market value reported on financial statements to various sources.
4. Warranty expense is valued correctly.	Perform analytical procedures to test the reasonableness of amount.
5. Search for unrecorded retirements of fixed assets.	Inspect the property ledger and then tour the client's facility

I answered most of them, but can't verify. Thanks! I'll give thumbs-up.