Kindly please answer the attached 2 questions

Original wok please

Q 1: (5 marks) The following are common audit procedures for tests of sales and cash receipts: 1. Compare the quantity and description of items on duplicate sales invoices with related shipping documents. 2. Examine duplicate sales invoices for an indication that unit selling prices were compared to the approved price list. 3. Examine duplicate sales invoices to determine whether the account classification for sales has been included on the document. 4. Examine the sales journal for related-party transactions, notes receivable, and other unusual items. 5. Select a sample of customer orders and trace the document to related shipping documents, sales invoices, and the accounts receivable master file for comparison of name, date, and amount. 6. Perform a proof of cash receipts. 7. Examine a sample of remittance advices for approval of cash discounts. 8. Account for a numerical sequence of remittance advices and determine whether there is a cross-reference mark for each one, indicating that it has been recorded in the cash receipts journal. Requirements: a. Identify whether each audit procedure is a test of control or substantive test of transactions. b. State which transaction-related audit objective(s) each of the audit procedures fulfills. Page 1 of 2 Q 2: (10 Marks) The following are audit procedures in the sales and collection cycle: 1. Examine a sample of shipping documents to determine whether each has a sales invoice number included on it. 2. Examine a sample of customer orders and see if each has a credit authorization. 3. Compare the date on a sample of shipping documents a few days before and after the balance sheet date with related sales journal transactions. 4. Discuss with the sales manager whether any sales allowances have been granted after the balance sheet date that may apply to the current period. 5. Observe whether the controller makes an independent comparison of the total in the general ledger with the trial balance of accounts receivable. 6. Compute the ratio of allowance for uncollectible accounts divided by accounts receivable and compare with previous years. Requirements a. For each procedure, identify the applicable type of audit evidence. b. For each procedure, identify which of the following it is: (1) Test of control (2) Substantive test of transactions (3) Analytical procedure (4) Test of details of balances c. For those procedures you identified as a test of control or substantive test of transactions, what transaction-related audit objective or objectives are being satisfied? d. For those procedures you identified as a test of details of balances, what balance related audit objective or objectives are being satisfied? Page 2 of 2