L15 6 - 40,000 Additional Paid-in-Capital—Common 118,000...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
P13-9 Barron Co. Equity Audit The disclosure objective for the equity portion of the audit is said to be critical. Examine the partial balance sheet of Barron Co., a large, diversified financial services firm with 22,000 employees worldwide: Stockholder's Equity (000's omitted) Preferred Stock 6%, $100 par $ 42,000 Additional Paid-in-Capital—Preferred 31,000 Common Stock, $1 par
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 40,000 Additional Paid-in-Capital—Common 118,000 Retained Earnings 442,000 Treasury Shares (9,000) Receivable from Exercise of Stock Options (1,000) $ 663,000 a. What are the deficiencies in this disclosure? b. What further disclosures should be made in the footnotes? How does the auditor go about auditing these disclosures for accuracy and completeness?...
View Full Document

This note was uploaded on 10/05/2011 for the course ACG 5637 taught by Professor Monikacaushoulli during the Fall '08 term at University of Florida.

Ask a homework question - tutors are online