Questions Set At the Examinations of Candidates for the Certificate of Certified
Questions Set At the Examinations of Candidates for the Certificate of Certified
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00 in forty years.
Criticise each of the above plans, stating which you recom- mend, if any, and why.
2. You are appointed the auditor of an estate the assets of which consist of Real Estate (Improved City and Farm Lands) Corporation Stocks (Common and Preferred), Railroad Bonds (with coupons attached and without coupons attached), and First Mortgages on Farm Property. How will you verify the revenues 92 ILLINOIS EXAMINATIONS IN ACCOUNTANCY from the various classes of assets, and what procedure... would you take to verify the existence of these assets? In your first audit, what would be the first two things you would examine?
3. An investigation of the details of an inventory dater Janu- ary i, 1904, brings to light the following entry: Contract dated July I, 1903, for delivery of 20, 000 tons of between January ist and June 3Oth, 1904, at $25. 00 per ton, the market price at date of inventory being $27. 50, $50, 000. 00.
Discuss the validity of the above entry under the following circumstances : (a) In the preparation of a certified balance sheet for stock- holders' meetings.
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You can find similar books in the "Read Also" column, or choose other free books by University of Illinois Urbana Champaign Campus to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
00 in forty years.
Criticise each of the above plans, stating which you recom- mend, if any, and why.
2. You are appointed the auditor of an estate the assets of which consist of Real Estate (Improved City and Farm Lands) Corporation Stocks (Common and Preferred), Railroad Bonds (with coupons attached and without coupons attached), and First Mortgages on Farm Property. How will you verify the revenues 92 ILLINOIS EXAMINATIONS IN ACCOUNTANCY from the various classes of assets, and what procedure... would you take to verify the existence of these assets? In your first audit, what would be the first two things you would examine?
3. An investigation of the details of an inventory dater Janu- ary i, 1904, brings to light the following entry: Contract dated July I, 1903, for delivery of 20, 000 tons of between January ist and June 3Oth, 1904, at $25. 00 per ton, the market price at date of inventory being $27. 50, $50, 000. 00.
Discuss the validity of the above entry under the following circumstances : (a) In the preparation of a certified balance sheet for stock- holders' meetings.
What to read after Questions Set At the Examinations of Candidates for the Certificate of Certified?
You can find similar books in the "Read Also" column, or choose other free books by University of Illinois Urbana Champaign Campus to read onlineMoreLess
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