The Hamster Stop Has $93,650 in the Accrued Payroll Account

question 8

Essay

The Hamster Stop has $93,650 in the Accrued Payroll account. Hamster's weekly payroll is $156,000 and the accrual represents payroll for 3 days. If controls are strong, determine whether additional audit work should be performed on this account.

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Definitions:

Mental Image

A representation of sensory experience that occurs in the absence of direct external stimuli, often visual or auditory in nature.

Memory Strategy

Techniques or methods employed to enhance memory and recall, including mnemonics, chunking, and rehearsal.

Elaborative Rehearsal

A technique in memory strategies involving the linking of new information to existing knowledge through deeper cognitive processing.

Maintenance Rehearsal

A cognitive process that involves repeatedly verbalizing or thinking about a piece of information to keep it in short-term memory.