{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T07:17:44-04:00", "answer_date": "2024-06-28 07:17:44", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4261907", "url": "\/study-help\/questions\/you-are-conducting-the-firsttime-audit-of-the-accounts-of-4261907", "question_creation_date_js": "2024-06-28T07:17:44-04:00", "question_creation_date": "Jun 28, 2024 07:17 AM", "meta_title": "[Solved] You are conducting the first-time audit o | SolutionInn", "meta_description": "Answer of - You are conducting the first-time audit of the accounts of Baklava Pty Ltd, a small ptisserie in regional Victoria. To | SolutionInn", "meta_keywords": "conducting,first-time,audit,accounts,baklava,pty,ltd,small,ptisserie,regional,victoria,business", "question_title_h1": "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", "question_title": "You are conducting the first-time audit of the accounts of Baklava Pty", "question_title_for_js_snippet": "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 2,500 DR Motor Vehicle 25,000 DR Computer 1,500 DR Printer 800 CR Capital (Contribution by owner) 29,800 Required In relation to the above journal entry, explain substantive tests that would enable you to substantiate each of the following The existence of the motor vehicle The valuation and allocation of the computer The classification of the printer ", "question_description": "

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<\/p>

private<\/em>assets to the business, with the following general journal bringing them to initial account in the books:<\/p>

<\/p>

DR Cash 2,500<\/p>

DR Motor Vehicle 25,000<\/p>

DR Computer 1,500<\/p>

DR Printer 800<\/p>

CR Capital (Contribution by owner) 29,800<\/p>

<\/p>

Required:<\/p>

In relation to the above journal entry,<\/em>explain substantive tests that would enable you to substantiate each of the following:<\/p>

  1. Theexistence<\/em>of themotor vehicle<\/em>;<\/li>
  2. Thevaluation and allocation<\/em>of thecomputer<\/em>;<\/li>
  3. Theclassification<\/em>of theprinter<\/em>.<\/li> <\/ol>", "transcribed_text": "", "related_book": { "title": "Managerial Accounting Tools for Business Decision Making ", "isbn": "1118856996, 978-1118856994", "edition": "4th Canadian edition", "authors": "Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1190.jpg", "uri": "\/textbooks\/managerial-accounting-tools-for-business-decision-making-4th-canadian-edition-1190", "see_more_uri": "" }, "free_related_book": { "isbn": "981103219X", "uri": "\/textbooks\/special-economic-zones-and-chinas-development-path-1st-edition-978-9811032196-285520", "name": "Special Economic Zones And Chinas Development Path", "edition": "1st Edition" }, "question_posted": "2024-06-28 07:17:44", "see_more_questions_link": "\/study-help\/questions\/business-general-management-2023-February-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/online-network-inc-has-a-net-income-of-650000-in", "description": "Online Network Inc. has a net income of $650,000 in the current fiscal year. 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Use two decimal places in all numerical answers. 2.8,...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/not-a-high-school-graduate-high-school-graduate-some-college-4261906", "next": "\/study-help\/questions\/calculate-the-mean-and-variance-for-the-0-and-0-4261908" }, "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": "You are conducting the first-time audit of the accounts of Baklava Pty", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/you-are-conducting-the-firsttime-audit-of-the-accounts-of-4261907" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } } } }