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This is Auditing of Canada, I need the answers ASAP. Thank you very much!!! You are a PA examining the financial statements of a public
This is Auditing of Canada, I need the answers ASAP. Thank you very much!!!
You are a PA examining the financial statements of a public corporation for the year ended December 31. The shareholders' equity section of the public corporation's balance sheet at December 31 follows: Shareholders' equity: Share capital-100,000 no par value shares authorized; 50,000 shares issued and outstanding Contributed capital Retained earnings Total shareholders' equity $ 750,000 132,580 117,490 $1,000,070 Requirements: 1. Present at least three audit procedures (descriptive) that you would apply to the Retained Earnings account (10%). 2. Briefly describe the transaction(s) that have occured which possibly gave rise to the 'Contributed capital' (5%). For the toolbarStep by Step Solution
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