Interview with Machine Operator
Auditor: Hi Im an auditor with the companys External Auditing Team. I was told that you were on break,
so Id like to ask you a couple of questions.
Operator: Yeah, thats great. They told me you might be by.
A: First, Id jus
Internal Auditor Interview
Auditor: Hi, Im part of the External Auditing team. I was just hoping to ask you a couple of questions.
Internal Auditor: Sure. That would be great.
A: Great. Could you tell me how long youve been with Alchemy Inc.?
I: Ive been
Interview with Receive Clerk
Auditor: Hi, Im an auditor with your External Auditing team. I was hoping to ask you a few questions. Is
now a good time?
Receive Clerk: Yeah, sure. This is my break.
A: How long have you been with the company?
R: Two years.
Interview with CEO
Auditor: Chris, thanks for meeting with us.
Chris E. Ready: Good morning, Pat. Nice to see you again. Pease sit down.
A: Did you receive the agenda I emailed to you?
C: Yes, I did. Thanks. I read it and reviewed the areas you wanted to
Interview with Ship Clerk
Auditor: Hi, Im an auditor with your External Auditing team. I was hoping to ask you a couple questions.
Is now a good time?
Ship Clerk: Yeah, sure. Whats up?
A: Can you tell me a little bit about your background? How long youve
ACC331 Final Review Chapter 9
Muckenthaler Company sells product 2005WSC for $30 per unit. The cost of one unit of
2005WSC is $27, and the replacement cost is $26. The estimated cost to dispose of a unit is $6,
and the normal profit is 40%. At what amo
ACC331Chapter 10 Review for Final
On February 1, 2012, Nelson Corporation purchased a parcel of land as a factory site for
$250,000. An old building on the property was demolished, and construction began on a new
building which was completed on Novembe
Chapter 4 Review for the Final -1.Ortiz Co. had the following account balances:
Cost of goods sold
Salaries and wages expense
ACC331 Chapter 11 Review for Final
Ferguson Company purchased a depreciable asset for $120,000. The estimated salvage value is
$10,000, and the estimated useful life is 10 years. The straight-line method will be used for
depreciation. What is the depre
Chapter 7 Review for the Final - Accounting
1.Consider the following: Cash in Bank checking account of $18,500, Cash on hand of $500,
Post-dated checks received totaling $3,500, and Certificates of deposit totaling
$124,000. How much should be reported as
Chapter 6 Review - Accounting
Assume ABC Company deposits $50,000 with First National Bank in an account earning
interest at 6% per annum, compounded semi-annually. How much will ABC have in the
account after five years if interest is reinvested?
Chapter 2 Review - Accounting
1. Which basic assumption is illustrated when a firm reports financial results on an annual
a. Economic entity assumption.
b. Going concern assumption.
c. Periodicity assumption.
d. Monetary unit assumption.
2. Which a
Chapter 5 Review for the Final
For Grimmett Company, the following information is available:
In Grimmetts balance sheet, intangible assets should be reported at
E5-1 (Moderate 15 minutes)
1. Property taxes receivable
Allowance for refunds and uncollectible taxes
Revenues property taxes
To record property tax levy.
2. Allowance for refunds and uncollectible taxes
Property taxes receivable
To record adjus
Materiality is the amount of
misstatement that probably would have
made a difference in the judgment of
a reasonable user who is relying on
Auditors consider materiality in
3 phases of the audit: planning,
Help for auditors in evaluating financial statement misstatements.
the Abuse of Materiality
BY C. TERRY GRANT, CHAUNCEY M. DEPREE, JR.,
AND GERRY H. GRANT
EARNINGS MANAGEMENT HAS RECEI
Name _ Circle Section 9:30AM or 11:00AM
Knapp Case 3 Berkshire Hathaway questions
1. a. Describe the nature of the transaction between GEICO and Berkshire
b. What were the two accounting choices for how to account for the transaction,
Circle Section 9:30AM or 11:00AM
Knapp Case 1: Leigh Ann Walker, Staff Accountant
The following questions will help you remember the facts of the case when we discuss it in
class. We will also discuss other aspects of the case in class. For each of