Question
Teal Corporation has 2,000 accounts receivable, with a total book value of $300,000. Ricardo Ramaro, CPA, has selected and audited a sample of 100 of
Teal Corporation has 2,000 accounts receivable, with a total book value of $300,000. Ricardo Ramaro, CPA, has selected and audited a sample of 100 of the accounts with a combined book value of $16,100; the total of the audited values was $16,000.
Using the mean-per-unit method, calculate the:
a. Accounts receivable estimated audited value.
b. Projected misstatement.
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Managerial Accounting
Authors: Ray Garrison, Theresa Libby, Alan Webb
10th Canadian edition
978-1259024900
