Noncurrent Archives - Essay Quoll

Balance sheet and income statement materiality for the audit of Westmoreland financial statements is $75,000. What is your conclusion about the financial statements if the audit findings are not corrected by Westmoreland management before you issue the audit report?

Posted on February 23, 2023 by Assessments

The following items were discovered during the December 31, 2019, audit of the financial statements of Westmoreland Corporation: 1. The company’s financial statements did not include an accrual for bonuses earned by senior management in 2019 but payable in March 2020. The aggregate bonus amount was $125,000. 2. Equipment originally costing $725,000 that was fully […]

ven the following statement of Financial Position and Statement of Financial Performance, Prepare the Statement of Cash Flow s using the Indirect Method.

Posted on November 9, 2022 by Assessments

Managerial Accounting and Control 1 Cash Flow Statement Analysis Activity 1. Given the following statement of Financial Position and Statement of Financial Performance, Prepare the Statement of Cash Flow s using the Indirect Method. STATEMENT OF FINANCIAL POSITION ASSETS 2020 2019 Current assets Cash and cash equivalents 5,137,144,792 4,624,655,095 Short-term investment 11,493,502 11,389,621 Receivables 3,674,543,057 […]