L12 Notes_Part_6 - 1213 Andrew Call Medical-2,472,032 1214...

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Select Sample assume random start = 200 Population Item Recorded Cumulative Invoice # Amount Total 1 357 357 2 1281 1638 3 60 1698 4 573 2271 5 729 3000 ___ _____________ _ ______ _______ | | | | | | 1 1-357 200 2 358-1638 700, 1200 3 1639-1698 4 1699-2271 1700 2200 5 2272-3000 2700 MUS Pulling a Sample
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Book value = $2,500,000, sample size = 93. The sampling interval = $26,882 ($2,500,000 ÷ 93). The random start = $3,977 Cumulatvie Sample Account Balance Dollars Item 1001 Ace Emergency Center 2,350 $ 2,350 $ 1002 Admington Hospital 15,495 17,845 3,977 $ (1) 1003 Jess Base, Inc. 945 18,780 1004 Good Hospital Corp. 21,893 40,673 30,859 (2) 1005 Jen Mara Corp. 3,968 44,641 1006 Zippy Corp. 32,549 77,190 57,741 (3) 1007 Green River Mfg. 2,246 79,436 1008 Bead Hospital Centers 11,860 91,306 84,623 (4)
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Unformatted text preview: 1213 Andrew Call Medical-2,472,032 1214 Lilly Heather, Inc. 26,945 2,498,977 2,477,121 (93) 1215 Janyne Ann Corp. 1,023 2,500,000 $ Total Accounts Receivable 2,500,000 $ 3,977 $ 26,882 30,859 $ What is the probability that account 1005 will be included in the sample if you use random sampling? If you use systematic sampling? Account 1006? Steps in MUS Sampling Application Performance 4. Select sample items. 5. Perform the auditing procedures. Evaluation 6. Calculate the projected misstatement and the upper limit on misstatement 7. Draw final conclusions. After the sample items have been selected, the auditor conducts the planned audit procedures on the logical units containing the selected dollar sampling units....
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L12 Notes_Part_6 - 1213 Andrew Call Medical-2,472,032 1214...

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