the_hatstealer posted a question Sep 18, 2013 at 11:46pm
I need help finding these answers. I am attaching my current solutions in an excel format.

f.Explain whether you believe the information in requirement d or e provides the most useful data for evaluating the potential for misstatements. Explain why.

g.Analyze the account balances for accounts receivable, inventory, and short/current long-term debt. Describe any observations about those accounts and discuss additional information you want to consider during the current year audit.

h. Based on your calculations, assess the likelihood (high, medium, or low) that Pinnacle is likely to fail financially in the next 12 months. (Arens 247)
Arens, Alvin A, Randal J Elder, and Mark Beasley. Auditing and Assurance Services, VitalSource for DeVry University, 14th Edition. Pearson Learning Solutions, 12/2012.
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  • acct 444.xlsx Download Attachment

    Pinnacle Manufacturing Company
    Income Statement
    For the Year ended December 31
    2011
    Net sales
    Cost of goods sold
    Gross profit
    Operating expenses
    Income from operations
    Other revenues and gains...
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