1:57 56% 0.01 K/s 0 Read Only - You can't save changes to th... Group Assignment 3 (GA) for ACCT 742, Spring/Summer 2020 Stephen Hudovernik - The Business School Centennial College [Part 4) Michele is considering the Shareholders Equity section of the balance shtet, specifically the balances in Share Capital and Retained Earrings Relevant data during the year are as follows: On March 1, 2020, Foot Fault declared a dividend of 0.25 per share and disbursed the cash on March 15, 2020 On August 1, 2020, Foot Fault issued an incremental 30,000 shares at a price of $125 per share. In the Draft 2020 financial statements, Net Income is reported as $150,000 Documents (we will call them "Pieces of Evidence") provided to Michele by Foot Faut are: General Articles of incorporation, the bylaws, and the minutes of the board of directors from the inception of the corporation Share Capital Minutes from the Board of Directors from July 2.2020 approval for sale of new shares The corporation's share certificate stubbook including all share certificate numbers Transactions in the Share Capital account from the inception of the corporation Retained famig: A continuity schedule of Retained Earnings transactions from the inception of the corporation Minutes from the Board of Directors from February 1, 2020 (dividend declaration) Transactions in the Retained Earnings account from the inception of the corporation, specifically including disbursements of dividend payments Below is a partial balance sheet for Foot Fault, for 2020 Draft statements and 2019 Audited Statements Foot Four Portal Balance Sheet Shareholders Equity Section only) For the Year ended October 31 2030 2010 Draft Audited Shareholders' Equity Share Capital 250.000 no par value Common shares authorised: $11,250,000 $10.000.000 Issued Oct. 31, 2020: 110,000 issued Oct. 31, 2018 100,000 Retained Earning $3,125,000 $3.000.000 TOTAL Shareholden' Capital $14.375.000 $15.000,000 GUT_ACTIS 2020 Group Assignment.docx Group Assignment 3 (GA) for ACCT 742. Spring/Summer 2020 Stephen Hudovernik - The Business School Centennial College = Required Suggest three substantive audit procedures for each of: al The Share Capital scount, and The Retained Earnings account 1:58 55% 0.00 k/s Read Only - You can't save changes to th... GAU ACTA Summer 2020 Group Assignment.docx Group Assignment 3 GAB) for ACCT 742, Spring/Summer 2020 Stephen Hudovernike - The Business School Centennial College [Part 2) As part of substantive testing. Michele Teper starts to plan her analysis of payroll transactions and balances. She does so by developing expectations for payroll expenses based on her understanding the entity, including production volumes, new product lines, prior period's payroll expenses, industry changes, etc. Next, Michele has asked for several pieces of information we will call each bullet belowa "Piece of Evidence": Budgeted and prior year payroll expenses Accrued liabilities Average annual per employee wage Production volume, facility side, manufacturing process times and product-line changes Payroll and benefits by employee type Michele is now prepared to engage in analysis as part of substantive testing Required: Provide 4 examples of analysis that Michele can perform and relate each of the examples your provide to one for more) of the pieces of Evidence requested from foot Fault Example response template Pieces) of Evidence used, and WHY used. Analysis to be performed Insert rows as needed GAZ ACC2 Summer 2020 Group Assignment 3.docx Group Assignment GAS for ACCT 742, Spring/Summer 2020 Stephen Hudovernik - The Business School Centennial College [Part 3 Unfortunately, near the end of the year, Foot Fault had to terminate the employment of John Smith, its coordinator for 1:57 56% 0.01 K/s 0 Read Only - You can't save changes to th... Group Assignment 3 (GA) for ACCT 742, Spring/Summer 2020 Stephen Hudovernik - The Business School Centennial College [Part 4) Michele is considering the Shareholders Equity section of the balance shtet, specifically the balances in Share Capital and Retained Earrings Relevant data during the year are as follows: On March 1, 2020, Foot Fault declared a dividend of 0.25 per share and disbursed the cash on March 15, 2020 On August 1, 2020, Foot Fault issued an incremental 30,000 shares at a price of $125 per share. In the Draft 2020 financial statements, Net Income is reported as $150,000 Documents (we will call them "Pieces of Evidence") provided to Michele by Foot Faut are: General Articles of incorporation, the bylaws, and the minutes of the board of directors from the inception of the corporation Share Capital Minutes from the Board of Directors from July 2.2020 approval for sale of new shares The corporation's share certificate stubbook including all share certificate numbers Transactions in the Share Capital account from the inception of the corporation Retained famig: A continuity schedule of Retained Earnings transactions from the inception of the corporation Minutes from the Board of Directors from February 1, 2020 (dividend declaration) Transactions in the Retained Earnings account from the inception of the corporation, specifically including disbursements of dividend payments Below is a partial balance sheet for Foot Fault, for 2020 Draft statements and 2019 Audited Statements Foot Four Portal Balance Sheet Shareholders Equity Section only) For the Year ended October 31 2030 2010 Draft Audited Shareholders' Equity Share Capital 250.000 no par value Common shares authorised: $11,250,000 $10.000.000 Issued Oct. 31, 2020: 110,000 issued Oct. 31, 2018 100,000 Retained Earning $3,125,000 $3.000.000 TOTAL Shareholden' Capital $14.375.000 $15.000,000 GUT_ACTIS 2020 Group Assignment.docx Group Assignment 3 (GA) for ACCT 742. Spring/Summer 2020 Stephen Hudovernik - The Business School Centennial College = Required Suggest three substantive audit procedures for each of: al The Share Capital scount, and The Retained Earnings account 1:58 55% 0.00 k/s Read Only - You can't save changes to th... GAU ACTA Summer 2020 Group Assignment.docx Group Assignment 3 GAB) for ACCT 742, Spring/Summer 2020 Stephen Hudovernike - The Business School Centennial College [Part 2) As part of substantive testing. Michele Teper starts to plan her analysis of payroll transactions and balances. She does so by developing expectations for payroll expenses based on her understanding the entity, including production volumes, new product lines, prior period's payroll expenses, industry changes, etc. Next, Michele has asked for several pieces of information we will call each bullet belowa "Piece of Evidence": Budgeted and prior year payroll expenses Accrued liabilities Average annual per employee wage Production volume, facility side, manufacturing process times and product-line changes Payroll and benefits by employee type Michele is now prepared to engage in analysis as part of substantive testing Required: Provide 4 examples of analysis that Michele can perform and relate each of the examples your provide to one for more) of the pieces of Evidence requested from foot Fault Example response template Pieces) of Evidence used, and WHY used. Analysis to be performed Insert rows as needed GAZ ACC2 Summer 2020 Group Assignment 3.docx Group Assignment GAS for ACCT 742, Spring/Summer 2020 Stephen Hudovernik - The Business School Centennial College [Part 3 Unfortunately, near the end of the year, Foot Fault had to terminate the employment of John Smith, its coordinator for