WebHow do you calculate random sampling? Step 1: Define the population. Start by deciding on the population that you want to study. ... Step 2: Decide on the sample size. Next, you … WebMar 6, 2024 · Projected misstatement = (Sample net misstatement/Book value of sample) * Book value of population Projected misstatement = ($302 */$16,041) * $1000,000 Projected misstatement = $18,826 c. Since the projected misstatement does not approach $50,000, it follows that the population will be accepted Advertisement Previous Advertisement

Evaluation of misstatements ACCA Global

WebRisk of Incorrect Acceptance 5%, Book Value of Accounts Receivable $500,000 Items found with misstatements in the accounts receivable sample Audit Value Book Value Projected Value Included in Incremental Allowance Projected Misstatements Interval $1,000 $1,600 $4,000 Yes No $800 $740 $4,000 Yes No $2,800 $5,000 $4,000 Yes No A) Calculate the … WebProjected misstatement = 0.20 x $50,000 = $10,000 c. 0.05 = ($30,000 – Audited balance) ÷ $30,000 Audited balance = $28,500 d. $5,000 = 0.05 x Sampling interval Sampling interval = $100,000 e. 0.25 = (Recorded balance – $6,000) ÷ Recorded balance Recorded balance = $8,000 f. Projected misstatement = 0.25 x $25,000 = $6,250 Mod G-20 easy brownie in a mug

Attached are the pages for IAPC Assignment 6. In her lecture, we …

http://archives.cpajournal.com/1997/0297/depts/AUDITING.htm WebMay 17, 2024 · Projected/extrapolated mean the same thing – i.e. estimating misstatement in a population based on the misstatements in a sample. The projection may or may not … Web(1) Calculate Projected Misstatement Two steps: 1. First, consider accounts with book values ____ than the sampling interval in which misstatements were found. These accounts represent other unselected accounts of similar size in the population. For these accounts, each misstatement must be projected to the population. easy brownie cheesecake bars