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Please Help! Find attached picture with the requirements. Scroll down to all parts of this task. The auditors of TQ, Inc.. a @rporation, obtained the
Please Help! Find attached picture with the requirements.
Scroll down to all parts of this task. The auditors of TQ, Inc.. a @rporation, obtained the selected Informa(ion for years I and 2 located the Financial Informaton tab. The auditors are performing analytical relative to the expectations of expenses for year 2 and have established a materiality threshdd of 5% of tba year 2 account balance. For each of in column A below.@nsider the additional notes in column B and the information in the Financial Information tab. and: In @lumn C, enter the auditors expectation of year 2 expense. Round all amounts 'to the nearest dollar. Consider each account independentlye Additional notes Bonus expense for year 2 is expected to be 7% of total prior.yer wage and salary expense if total unit sales increase by than 5%. Short-term disability expense for year 2 is expected to be 2% of the prior-year wage and salary expense, Average salaries increased 4% effective July 1 year 2. Headcount was 40 in year 1 and increased to 48 on July year 2. TQ matches 50% of the first 604 of 'total current.yoar compensation (salaries, wages, and bonuses) for participating employees. Historically, 80% of Tats employpes have Participated in the 401 (k) plan, Historically, hourly payroll tax expense, excluding federal unemployment tax, has been 8% of total wages, In addition, federal unemployment tax was expected to 'increase on October 1, year 2, from to 2%. Total hourly payroll is expected to increase by 2%. Total headcount was 200 employees for year 1 and 260 for year 2. Health insurance premiums are expected to increase 120/0 in year Auditors expectation 2 3 4 5 6 7 Expense Bonus expense Short-term disability expense Office salary expense 401 (k) match expense Hourly payroll tax expense Health insurance expense
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