November 1, 2008 ga-1 dear mr lancaster this is a letter will confirm our understanding of the arrangement for our audit of the financial of apollo shoes inc, for the year ending december 31, 2008 we will audit the eh company’s balance sheet at december 31, 2008, and the related statements of income, comprehensive income, stockholders equity, and cash flows for the year ended, for the. Analytical review apollo shoes essay sample the following refers to the comparative trial balances, ga-71 through ga-75: accounts receivable, other receivables, allowance for doubtful accounts, bad debt expenseinventories and reserve for inventory obsolescence prepaid insurance and insurance expense. Apollo shoes, inc preclosing trial balance (audited) december 31, 2001 account id account description 10100 cash on hand 10200 regular checking account 10300 payroll checking. Apollo shoes case assignment using the apollo shoes case materials, available under the assessment section of week four - answered by a verified tutor (preparation of a balance sheet) presented below is the trial balance of john nalezny corporation at december 31, 2007 apollo shoes case assignment using the apollo shoes case materials.
Cost of goods sold represents an expense account while allowance for obsolete inventory is a contra-asset account the allowance for obsolete inventory account is reported in the trial balance below the inventory account. Apollo shoes case solutions 194 pages apollo shoes case solutions uploaded by alisha lewis download with google download with facebook or download with email apollo shoes case solutions download apollo shoes case solutions uploaded by. Compare pay rates with the contract approved by apollo shoes board of directors the analytical procedures are used in the payroll and personnel cycle to detect any misstatements in payroll expense accounts there will be a test of controls and direct labor and inventory and are based on comparison of the payroll expense account balance with. Week 6 individual assignment 1 prepare the balance sheet as of december 31, 2007, and the income statement for the year ended december 31, 2007 assuming apollo doesn’t adjust sales and accounts receivable for the questionable december sale.
Balance sheet as at that date, the directors' and auditors' report thereon 2to confirm the payment of interim dividend of rs 3/- per equity share for the financial year 2006-2007 and declare a final dividend of rs 2/- per equity share for the said financial year. Zoom snowboards: audit planning document please work in groups of two aar can decrease as risk of misstatements on the income statement and balance sheet increases 2007 mr joe bootwell executive senior vice-president & cfo apollo shoes, inc 100 shoe plaza shoetown, maine 00001 dear mr bootwell, thank you for choosing team d auditing. Apollo shoes audit case 1 i want you to put the numbers into three spreadsheets (one for the comparative (ie, two-year) balance sheet (a-1), one for the comparative income statement (a-2), and one for the comparative statement of cash flows (a-3)) page 44 apollo shoes, inc preclosing trial balance (audited) 31-dec-13 account id.
Apollo shoe case financials i am sorry that you were unable to attend the audit meeting last week, but darlene wardlaw said that you were busy with another client - apollo shoe case financials introduction she asked that i forward a copy of our 10-k directly to you. View notes - 2011_working trial_balance balance sheet from acc 3455 at university of north texas ga-5 apollo shoes, inc working trial balance balance sheet 31-dec-11 adjusting find study resources. Apollo business advisors delivers customized strategies to ensure our clients focus on the right objectives, achieve optimal levels of profitability, provide a healthy business model for long-term success. We will audit apollo shoe’s balance sheet as of 12/31/2012, along with the related income statement, statement of retained earnings, and statement of cash flows for the entire year of 2012 we will provide a professional opinion based on the information found in the audit. What is a comparative balance sheet a comparative balance sheet usually has two columns of amounts that appear to the right of the account titles or other descriptions such as cash and cash equivalents, accounts receivable, accounts payable, etcthe first column of amounts contains the amounts as of a recent moment or point in time, say december 31, 2012.
We have audited the financial statements of apollo shoes inc, including the balance sheet, income statement, and statement of cash flows the company’s management is responsible for preparing these financial statements in addition, the management is responsible for implementing adequate internal controls to ensure the accuracy and. Crystal teneyuquenovember 1, 2008 ga-1 dear mr lancaster this is a letter will confirm our understanding of the arrangement for our audit of the financial of apollo shoes inc, for the year ending december 31, 2008 we will audit the eh company’s balance sheet at december 31, 2008, and the related statements of income, comprehensive income, stockholders equity, and cash flows for the year. Question this question was answered on jul 25, 2010 view the answer apollo shoes case assignment using the apollo shoes case materials, available under the assessment section of week three of your page, complete the inventory audit section.
Controller the balance due apollo shoes as of december 3158 purchases from apollo shoes during the year 2011 totaled $29458 and watershed is $10apollo shoes anderson inc270. Scenario: hightower, inc plans to announce it will issue $20 million of perpetual debt and use the proceeds to repurchase common stock the bonds will sell at par with a coupon rate of 5% the bonds will sell at par with a coupon rate of 5. Case study “audit of apollo shoes, inc (ie, two-year) balance sheet (a-1), one for the comparative income statement (a-2), and one for the comparative statement of cash flows (a-3)) i know that everyone has a particular style of workpaper formatting, but my preference is for the following columns for the income statement and balance.
April 3, 2013 mr - apollo shoes engagement letter introduction larry lancaster, chairman apollo shoes, inc shoetown, me dear mr lancaster: this will confirm our understanding of the arrangements for auditing apollo shoes, inc financial statements for 2011 we will audit the balance sheet at december 31, 2011, and the related statements of income, retained. Substantive procedures – asset irregularities essay sample introduction this next phase of the auditing process for apollo shoes inc (apollo) is the designing of an audit program, which will detail substantive procedures for detecting irregularities in the accounts receivable, inventory, and fixed assets audit cycles. Sheet music 20k views 0 up votes, mark as useful 0 down votes, apollo shoes, inc preclosing trial balance december 31, 2002 account id account description 10100 cash on hand documents similar to apollo shoes trial balance wk 5 issuing audit reports simulation uploaded by preciousa420 flowchart examples.