L. Shapes Sketch Practice Question 3 ACCOUNT Accounts Receivable Image Inventory Cash PP&E All Other Accounts Subsequent Events Accounts Receivable Inventory O Camera Hyperlink Direct Tested Items: 50 Direct Tested Misstatements: $12,000 Direct Tested Items Book Value: $600,000 O O TOTAL POPULATION BALANCE $1,200,000 $2,500,000 $1,000,000 TOTAL ESTIMATED MISSTATEMENT Using the information provided in the table and detailed below, answer questions below. The partner has requested that you evaluate the audit results for substantive testing of account balances in relation to the establish materiality thresholds for the audit. In addition to the nation in the table above, the partner has provided you with the following information. O Attachment TOLERABLE MISSTATEMENT No Direct Testing Performed Sample Size: 100 $75,000 $75,000 $100,000 $30,000 TA 68.77% Stamp Cash 100% tested via confirmations All other confirmations noting no exceptions to the clients recorded receivable balance. For 5 of the confirm