Practice Problems Ch. 14 (ACCT-422)

Practice Problems Ch. 14 (ACCT-422) - Solutions to Chapter...

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Solutions to Chapter 14 Practice Problems 14-21 a. (4) b. (4) c. (3) 14-22 a. (4) b. (3) c. (1) d. (1) 14-23 a. (4) b. (4) c. (2) 14-25 1. a. Test of control b. Existing sales transactions are recorded. (Completeness) c. Documentation 2. a. Test of control b. Recorded sales are for shipments actually made to existing customers. (Occurrence) c. Documentation 3. a. Substantive test of transactions b. Recorded sales are for the amount of goods shipped. (Accuracy) c. Documentation 4. a. Substantive test of transactions b. Sales transactions are properly included in the accounts receivable master file and are correctly summarized. (Posting and summarization) c. Reperformance 5. a. Test of control b. Recorded sales returns are for returns from existing customers. (Occurrence) c. Documentation 6. a. Test of control b. (1) Cash received is recorded in the cash receipts journal. (Completeness) (2) Cash receipts are recorded on the correct dates. (Timing)
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Practice Problems Ch. 14 (ACCT-422) - Solutions to Chapter...

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