Mathews and Company Has $112,000 in an Accrued Payroll Account

question 70

Essay

Mathews and Company has $112,000 in an accrued payroll account. The company's weekly payroll is $186,700 and the accrual represents 3 days out of 5 working days. If the auditor has determined that controls are effective over payroll, what additional work should the auditor perform for this account?

---

Definitions:

Language Development

The method through which young children grasp and express language in the initial stages of their childhood.

Two-word Stage

A phase in early language development during which children begin to use two-word sentences to communicate their desires, thoughts, and feelings.

Problem-solving Strategy

An approach or method specifically designed and used to find solutions to difficult or complex issues.

Nondeclarative Memory

Refers to the type of long-term memory that implies the recall of skills and habits, sometimes known as implicit memory, which operates without conscious awareness.