Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ow first we calculate misstatement as per sample value categories as follows:- Stratum/Category 1, >$75,000 includes only one misstatement as $26,003 Now, Estimation of total

ow first we calculate misstatement as per sample value categories as follows:-

Stratum/Category 1, >$75,000 includes only one misstatement as $26,003

Now, Estimation of total amount of misstatements in account receivable population:-

how were projected misstatement calculated

Stratum Sample value (a) Sample Book value (c) Projected Misstatement
1 1287643 26003 1287643 26003
2 1349678 15565 4348268 50145.88029144729
3 94637 5825 947682 58330.75488445323
TOTAL 2731958 47393 6583593 134479.63517590053

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

Financial Accounting An Introduction To Concepts Methods And Uses

Authors: Clyde P. Stickney, Roman L. Weil

9th Edition

0030259622, 978-0030259623

More Books

Students also viewed these Accounting questions

Question

Define indirect financial compensation (employee benefits).

Answered: 1 week ago