Calculate the statement on auditing standard
Using the Statement on Auditing standard as your source, list one standard you think relates directly to gathering audit evidence and state your reason for your selection.
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Hillside issues $1,500,000 of 6%, 15-year bonds dated January 1, 2013, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,296,168.
The interest rate for the investment is 6%. What will the price of the investment be if it has a life of 5 years? 10 years? 20 years?
You are the systems analyst for the wee willie Williams widget works company. You have decided to review the order processing system. All customer orders, which are all credit sales, arrive via email or by phone.
The articles of partnership provide for salary allowances of $25,000 and $35,000, respectively, an allowance of interest at 12% on the capital balances at the beginning of the year.
The standards for a product call for 2.5 pounds of a raw material that costs $6.10 per pound. Last month, 30,000 pounds of the raw material were purchased for $187,500.
By the end of the period 37,300 units of product had been produced. To produce this output 65,000 hours had been worked at an actual cost of $780,000.
What are the major risk factors that you see in this project?As the controller and a management accountant, what is your responsibility to this project?
What is the present value of an investment that pays $80 at the end of each year for 10 years and pays an additional $1,000 at the end of the tenth year if the required rate of return is 7%? 8%? 9%?
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