Based on the Company and Its Environment,including Its Internal Control,the

question 38

Essay

Based on the company and its environment,including its internal control,the auditors assessed the risk of material misstatements to the financial statements,whether due to error or fraud,and designed the nature,timing,and extent of further audit procedures to be performed.As a result of conducting the above risk assessment procedures,the audit program for year 2 includes the following changes from the audit program for year 1.The company has a calendar year end and operates only on weekdays.
In conducting the audit procedures for the search for unrecorded liabilities,the materiality/scope for this area was assessed by the auditors at $6,000.Adjustments are only recorded for items equal to,or exceeding materiality.The last day of fieldwork is estimated to be February 1,year 3.
For the items reflected in the following check register,which are not recorded in the accounts payable subsidiary ledger at December 31,year 2,determine if each potential liability is recorded in the proper accounting period and also determine the amount that should be journalized,if any.If no action is required,you must enter $0.
For each of the check numbers in the table below,double-click on each of the associated shaded cells and select from the lists provided if any action or adjustment is required,as well as the dollar value of the required adjustment.Each selection may be used once,more than once,or not at all.
Check Register

Explain how adaptations contribute to the survival and reproductive success of organisms.

Recognize the use of artificial selection in the development of agricultural products.

Identify the role of mutations and genetic variability in evolution.

Comprehend the significance of biogeographical evidence in supporting evolutionary theory.

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Definitions:

Online Special

Refers to exclusive deals or discounts available through a website or online platform, often used to attract and engage digital shoppers.

Extended Problem Solving

A consumer decision-making process used in complex buying situations, involving detailed search and evaluation.

College Graduation

A formal ceremony where students receive their academic degrees, marking the completion of their studies.

Routine Problem Solving

Routine problem solving involves addressing and resolving common or regularly occurring issues using established methods or procedures.