{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T03:41:27-04:00", "answer_date": "2024-06-28 03:41:27", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4232900", "url": "\/study-help\/questions\/the-following-are-common-tests-of-details-of-balances-for-4232900", "question_creation_date_js": "2024-06-28T03:41:27-04:00", "question_creation_date": "Jun 28, 2024 03:41 AM", "meta_title": "[Solved] The following are common tests of details | SolutionInn", "meta_description": "Answer of - The following are common tests of details of balances for the audit of accounts receivable: Trace 35 accounts to the a | SolutionInn", "meta_keywords": "common,tests,details,balances,audit,accounts,receivable,trace,35,master,file,amount", "question_title_h1": "The following are common tests of details of balances for the audit of accounts receivable: Trace 35 accounts to the accounts receivable master file for", "question_title": "The following are common tests of details of balances for the audit", "question_title_for_js_snippet": "The following are common tests of details of balances for the audit of accounts receivable Trace 35 accounts to the accounts receivable master file for name, amount, and age categories Examine and document cash receipts on accounts receivable for 20 days after the engagement date Request 25 positive and 65 negative confirmations of accounts receivable Perform alternative procedures on accounts not responding to second requests by examining subsequent cash receipts documentation and shipping reports or sales invoices Evaluate the materiality of credit balances in the aged trial balance For each audit procedure, identify the balance related audit objective or objectives it partially or fully satisfies ", "question_description": "

The following are common tests of details of balances for the audit of accounts receivable: <\/p>

<\/p>

  1. Trace 35 accounts to the accounts receivable master file for name, amount, and age categories. <\/li>
  2. Examine and document cash receipts on accounts receivable for 20 days after the engagement date. <\/li>
  3. Request 25 positive and 65 negative confirmations of accounts receivable. <\/li>
  4. Perform alternative procedures on accounts not responding to second requests by examining subsequent cash receipts documentation and shipping reports or sales invoices. <\/li>
  5. Evaluate the materiality of credit balances in the aged trial balance. <\/li> <\/ol>

    <\/p>

    For each audit procedure, identify the balance-related audit objective or objectives it partially or fully satisfies.<\/p>", "transcribed_text": "", "related_book": { "title": "Global Strategy", "isbn": "0357512367, 978-0357512364", "edition": "5th Edition", "authors": "Mike W. Peng", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/649592eaa157d_32303.jpg", "uri": "\/textbooks\/global-strategy-5th-edition-9780357512364", "see_more_uri": "" }, "free_related_book": { "isbn": "1946203041", "uri": "\/textbooks\/get-it-right-the-five-most-important-financial-planning-concepts-doctors-get-wrong-1st-edition-978-1946203045-256517", "name": "Get It Right The Five Most Important Financial Planning Concepts Doctors Get Wrong", "edition": "1st Edition" }, "question_posted": "2024-06-28 03:41:27", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-13", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/at-the-end-of-world-war-ii-goods-production-and", "description": "At the end of World War II, goods production and services provision were each responsible for roughly one-half of economic activity and total employment in the United States. Today, the provision of...", "stars": 3 }, { "url": "\/study-help\/business-statistics-in-practice\/10-for-which-one-of-the-following-situations-would-kendalls-1983527", "description": "=+10. For which one of the following situations would Kendalls tau be appropriate?", "stars": 3 }, { "url": "\/tim-madsen-is-the-purchasing-agent-for-computer-center-a", "description": "Tim Madsen is the purchasing agent for Computer Center, a large discount computer store. He has recently added the hottest new computer, the Power model, to the stores stock of goods. Sales of this...", "stars": 3 }, { "url": "\/study-help\/questions\/c-inheritance-why-would-we-need-to-use-an-abstract-9840329", "description": "C# Inheritance Why would we need to use an abstract class and why is it different than a regular parent:child class? Please give an example of why the abstract class is necessary.", "stars": 3 }, { "url": "\/study-help\/questions\/relevant-range-and-fixed-and-variable-costs-child-play-inc-9484241", "description": "Relevant Range and Fixed and Variable Costs Child Play Inc. manufactures electronic toys within a relevant range of 88,400 to 142,800 toys per year. Within this range, the following partially...", "stars": 3 }, { "url": "\/study-help\/questions\/pharoah-corporation-was-organized-on-january-1-2021-during-its-999086", "description": "Pharoah Corporation was organized on January 1, 2021. During its first year, the corporation issued 2,000 shares of $50 par value preferred stock and 104,000 shares of $10 par value common stock. At...", "stars": 3 }, { "url": "\/study-help\/questions\/when-we-analyze-data-for-the-census-tracts-in-the-1000158", "description": "When we analyze data for the census tracts in the greater Los Angeles area, we find no significant correlation between median tax bill and median lot size. Yet a considerable positive correlation...", "stars": 3 }, { "url": "\/study-help\/questions\/from-a-point-along-a-straight-road-the-angle-of-1000913", "description": "From a point along a straight road, the angle of elevation to the top of a hill is 36. From 270 ft farther down the road, the angle of elevation to the top of the hill is 23. How high is the hill?...", "stars": 3 }, { "url": "\/study-help\/questions\/gary-is-awarding-a-gift-card-randomly-to-a-list-975523", "description": "Gary is awarding a gift card randomly to a list of names on a spreadsheet. To keep it fair he wants to draw a number and then award it to the person located at that number on the list. What function...", "stars": 3 }, { "url": "\/study-help\/questions\/according-to-the-isa-300-planning-and-audit-of-financial-992637", "description": "According to the ISA 300 'Planning and Audit of Financial Statement'. Outline the overall content of this audit strategy and the audit plan.", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/cash-collection-budget-2018-qtr-1-qtr-2-qtr-3-4232899", "next": "\/study-help\/questions\/table-of-contents-chapter-1-introducing-city-of-smithville-welcome-4232901" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "The following are common tests of details of balances for the audit", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/the-following-are-common-tests-of-details-of-balances-for-4232900" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }1" } }