Based on the Company and Its Environment, Including Its InternalSelection List for Adjustment Needed

The Answer of Based on the Company and Its Environment, Including Its InternalSelection List for Adjustment Needed

Based on the Company and Its Environment, Including Its InternalSelection List for Adjustment Needed

The Answer of Based on the Company and Its Environment, Including Its InternalSelection List for Adjustment Needed

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Based on the Company and Its Environment, Including Its Internal

question 31

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 plan for year 2 includes the following changes from the audit plan 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 $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 plan for year 2 includes the following changes from the audit plan 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 $0. For each of the check numbers in the table below, double-click on each of the associated shaded cells and select from the lists provided if any action or adjustment is required, as well as the dollar value of the required adjustment. Each selection may be used once, more than once, or not at all. Check Register \begin{array} { | c | c | c | } \hline \text { Check\# } & \text { Adjustment Needed? } & \text { Amount } \\ \hline 1333 & & \\ \hline 1334 & & \\ \hline 1335 & & \\ \hline 1336 & & \\ \hline 1337 & & \\ \hline 1338 & & \\ \hline 1339 & & \\ \hline 1340 & & \\ \hline 1341 & & \\ \hline 1342 & & \\ \hline \end{array} Selection list for adjustment needed \begin{array}{|l|} \hline No~ action~ required\\\hline Adjustment\\\hline \end{array} Selection list for amount \begin{array} { | r | r | r | r | } \hline \$ 0 & \$ 4,413 & \$ 7,650 & \$ 12,750 \\ \hline \$ 2,002 & \$ 6,000 & \$ 9,900 & \$ 25,500 \\ \hline \$ 2,970 & \$ 6,500 & \$ 11,000 & \$ 41,188 \\ \hline \$ 3,500 & \$ 6,800 & \$ 12,230 & \$ 45,601 \\ \hline \end{array}$ $\begin{array} { | c | c | c | } \hline \text { Check\# } & \text { Adjustment Needed? } & \text { Amount } \\\hline 1333 & & \\\hline 1334 & & \\\hline 1335 & & \\\hline 1336 & & \\\hline 1337 & & \\\hline 1338 & & \\\hline 1339 & & \\\hline 1340 & & \\\hline 1341 & & \\\hline 1342 & & \\\hline\end{array}$ Selection list for adjustment needed $\begin{array}{|l|}\hlineNo~ action~ required\\\hlineAdjustment\\\hline\end{array}$ Selection list for amount $\begin{array} { | r | r | r | r | } \hline \$ 0 & \$ 4,413 & \$ 7,650 & \$ 12,750 \\\hline \$ 2,002 & \$ 6,000 & \$ 9,900 & \$ 25,500 \\\hline \$ 2,970 & \$ 6,500 & \$ 11,000 & \$ 41,188 \\\hline \$ 3,500 & \$ 6,800 & \$ 12,230 & \$ 45,601 \\\hline\end{array}$

Identify the proper selection and use of tools for measuring driveline components and their operating angles.

Understand the specifications and selection criteria for different driveshaft components based on operational requirements.

Comprehend the effects of modifications to driveshaft components on the overall drive system and its performance.

Understand the operational principles of non-latching solenoids in transmission systems.

Definitions:

ABC Model

The ABC Model is a cognitive behavioral therapy framework that outlines the relationship between an activating event, beliefs, and consequences in understanding behavior.

Behavior

The actions or reactions of an individual or system in response to external or internal stimuli.

Overt Behaviors

Actions or reactions that are visible and observable by others.

Covert Behaviors

Actions that are not observable to others, such as thoughts and emotions, which can influence an individual's external behavior.