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Part B 1. Assume a 30%% tax rate, and the Totals per financial statements provided. Complete the following schedule as per Figure 16.4 (p. 686)
Part B 1. Assume a 30%% tax rate, and the Totals per financial statements provided. Complete the following schedule as per Figure 16.4 (p. 686) in the text. Assume that the Totals per financial statements (second to bottom row) have appropriately been entered on this schedule from the financial statements. Use the Excel worksheet provided. Beta Computer Equipment Company Total Likely Misstatement December 31, 20X3 Debit (Credit) Assets Liabilities Income Statement Non- Non- Cost of Selling Gen! Number Type Current current Current current Revenue Sales Admin_Other Income Total Uncorrected Ten effect at MOM on current lab. After Tix Effect on income Totals por financial statements 9,206 553.00 1 137,543.00 6,219.93206 3403080.04 827004600.08 71/000,406.00 8,002 378.081 1323,14900 Percent of unproceeded to f-L. 2. Assume that the client does not intend to record any of the above misstatements and that 6 percent of income after taxes is considered a material misstatement. Provide the auditor's conclusion in this situation. Only consider the income effect. 3. Assume that the client does intends to record correcting entries for each above misstatement. Provide the auditor's conclusion in this situation
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