Essay and Flow Chart
Paper instructions:
Outline substantive procedures by using the Apollo Shoes Casebook for detecting irregularities in each of the following audit cycles:
Fixed assets
Use a checklist or flowchart to outline your process.
They purchased quite a bit of computer equipment in the last couple of years. When you audit PP&E, let “the Crumpler” do most of the legwork (vouching invoices, examining cancelled checks,
examining titles, etc.) for you. Given all of the recent additions, make sure that the depreciation amounts are correct
Apollo Shoes, Inc. F-1
Fixed Asset Detail Listing Prepared by
12/31/2011 Reviewed by
PBC Depreciation Expense
Fixed Asset Tag Acquisition Date Description Cost Estimated Useful Life 2008 2009 2010 2011 Accumulated Depreciation
A32767 7/3/2008 Landrover $45,000.00 5 5000 $9,000.00 $9,000.00 $9,000.00 $32,000.00
A32766 9/1/2009 Jaguar $102,000.00 5 $6,800.00 $20,400.00 $20,400.00 $47,600.00
A32768 9/1/2009 Landrover $51,000.00 5 $3,400.00 $10,200.00 $10,200.00 $23,800.00
A32769 9/1/2009 Landrover $51,000.00 5 $3,400.00 $10,200.00 $10,200.00 $23,800.00
A32764 9/1/2009 Landrover $51,000.00 5 $3,400.00 $10,200.00 $10,200.00 $23,800.00
2/1/2010 Land $117,000.00 $0.00
2/1/2010 Building $623,905.92 15 $38,127.58 $41,593.73 $79,721.31
Miscellaneous 2/1/2010 Office furniture $38,178.54 6 $5,832.81 $6,363.09 $12,195.90
PC0001 2/1/2010 Smart Chip 5 Ghz PC $5,279.93 3 $1,613.31 $1,759.98 $3,373.29
PC0002 2/1/2010 Smart Chip 5 Ghz PC $5,279.93 3 $1,613.31 $1,759.98 $3,373.29
PC0003 2/1/2010 Smart Chip 5 Ghz PC $5,279.93 3 $1,613.31 $1,759.98 $3,373.29
PC0004 2/1/2010 Smart Chip 5 Ghz PC $5,279.93 3 $1,613.31 $1,759.98 $3,373.29
PC0005 2/1/2010 Smart Chip 5 Ghz PC $5,279.93 3 $1,613.31 $1,759.98 $3,373.29
PC0006 2/1/2010 Smart Chip 5 Ghz PC $5,279.93 3 $1,613.31 $1,759.98 $3,373.29
PC0007 2/1/2010 Smart Chip 5 Ghz PC $5,279.93 3 $1,613.31 $1,759.98 $3,373.29
PC0008 2/1/2010 Smart Chip 5 Ghz PC $5,279.93 3 $1,613.31 $1,759.98 $3,373.29
PC0009 2/1/2010 Smart Chip 5 Ghz PC $5,279.93 3 $1,613.31 $1,759.98 $3,373.29
PC0010 2/1/2010 Smart Chip 5 Ghz PC $5,279.93 3 $1,613.31 $1,759.98 $3,373.29
PC0011 2/1/2010 Smart Chip 5 Ghz PC $5,279.93 3 $1,613.31 $1,759.98 $3,373.29
PC0012 2/1/2010 Smart Chip 5 Ghz PC $5,279.93 3 $1,613.31 $1,759.98 $3,373.29
PC0013 2/1/2010 Smart Chip 5 Ghz PC $5,279.93 3 $1,613.31 $1,759.98 $3,373.29
PC0014 2/1/2010 Smart Chip 5 Ghz PC $5,279.93 3 $1,613.31 $1,759.98 $3,373.29
PC0015 2/1/2010 Smart Chip 5 Ghz PC $5,279.93 3 $1,613.31 $1,759.98 $3,373.29
PC0016 2/1/2010 Smart Chip 5 Ghz PC $5,279.93 3 $1,613.31 $1,759.98 $3,373.29
PC0017 2/1/2010 Smart Chip 5 Ghz PC $5,279.93 3 $1,613.31 $1,759.98 $3,373.29
PC0018 2/1/2010 Smart Chip 5 Ghz PC $5,279.93 3 $1,613.31 $1,759.98 $3,373.29
4/14/2011 Repair/Repaint original building $50,408.00 30 $1,260.20 $1,260.20
E00001 7/6/2011 New computing system $1,200,519.90 5 $120,051.99 $120,051.99
M0001 1/5/2011 Machinery $1,295,359.98 5 $185,051.43 $185,051.43
$3,720,411.05 $5,000.00 $26,000.00 $133,000.00 $446,000.00 $610,000.01
ScholarMatic: Explanation & Answer
Your ready answer from a verified tutor is just a click away for as little as $14.99
Click Order Now to get 100% Original Answer Customized to your instructions!
