Acct. 506 Auditing - Group Project
Assessing the Risk of Material Misstatements ("What Could Go Wrong")
Chapter 9 and 6 (Assertions)
Extra Credit - Up to 15 points
Assets
Cash
Accounts Receivable
Inventory
Land
Property and Equipment
Accumulative Depreciation - Property and Equipment
Total
Liabilities & Stockholders' Equity
Accounts payable
Bonds payable
Common stock ($1 par)
Retained earnings
Total
December 31
2024
$\hspace{1cm}73,000
$\hspace{1cm}82,000
$\hspace{1cm}180,000
$\hspace{1cm}71,000
$\hspace{1cm}260,000
$(69,000)
$\hspace{1cm}597,000
$\hspace{1cm}34,000
$\hspace{1cm}150,000
$\hspace{1cm}214,000
$\hspace{1cm}199,000
$\hspace{1cm}597,000