You are conducting the first-time audit of the accounts of Baklava Pty Ltd, a small ptisserie in regional Victoria. To get the business up and running, one of the owners contributed cash and other private assets to the business, with the following general journal bringing them to initial account in the books

DR Cash 2500

DR Motor Vehicle 25000

DR Computer 1500

DR Printer 800

CR Capital 29800

(Contribution by owner )

Required:

In relation to the above journal entry, explain substantive tests that would enable you to substantiate each of the following:

a. The existence of the motor vehicle;

b. The valuation and allocation of the computer;

c. The classification of the printer.