I need help answering #6, 7 and 8 Green Pastures...
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Accounting
I need help answering #6, 7 and 8
| Green Pastures Cheese, LLC Audit Sample Plan for Confirmation of Accounts Receivable 12/31/-- | B-9 WL 1/10/-- |
| Objective: Establish the existence and gross valuation of accounts receivable and occurrence of sales by confirmation. | |
| Population: The trial balance of accounts receivable at 12/31/--, with a total book value of $ 269,000 | |
| Definition of Misstatement: Any amount that is determined not to be a valid account receivable. | |
| Sampling Technique: Probability-proportionate-to-size | |
| Sampling Parameters: | |
| Tolerable Misstatement: | |
| Total materiality as indicated in the audit plan | $8,000 |
| Less: Estimate of undetected misstatements (50% of overall materiality) | $4,000 |
| Tolerable misstatement for this test | $4,000 |
| Acceptable Level of Risk of Incorrect Acceptance | 4.6% |
| Acceptable Level of Risk of Incorrect Rejection | 1.0% |
| Population Size (Total number of sampling units | 250 |
| Estimated Standard Deviation | 11.25 |
| Determine the Incorrect Acceptance Coefficient |
|
| Determine the Incorrect Rejection Coefficient |
|
| Determine the Sample Size (rounded to the next highest round number) SHOW YOUR WORK |
|
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