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:

Syllogism Validity

A measure of a syllogism's correctness in deducing the conclusion from two premises, based on the structure of the argument.

Syllogism Validity

The logic of an argument's structure determining its correctness or faultiness based on premises leading to a conclusion.

Universal Premise

A statement in logic that asserts something is true for all members of a certain category or class.

Particular Premise

A statement in an argument that makes a claim about some, but not all, members of a category.