Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. you are the senior in charge of the audit of jewel

You are the senior in charge of the audit of Jewels Manufacturing Limited. The information...

60.1K

Verified Solution

Question

Accounting

image

You are the senior in charge of the audit of Jewels Manufacturing Limited. The information below has been prepared to assess the going concern of the company at the planning stage of the audit and to identify other issues that may impact on audit risk. Ratio 2019 2018 2017 Unaudited 2020 figures 1.45 1.83 2.69 3.35 Inventory turnover Quick asset 0.97 1.4 1.81 1.8 ratio 3.8 5.5 4.1 5.4 Accounts Receivable turnover Required: Identify issues that affect going concern and/or raise issues and explain the audit steps that you would undertake to minimise audit risk. Complete the table below in the answer box

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

4 y cot 20 2 A B D 3x 2x 3x 7 270 4 2...

Calculus
Q

Show with numerical judgement the voltage at Node A impact should R4 fail open. Vs1...

Electrical Engineering
Q

When a transparent sheet of thickness t and refractive index u is introduced in one...

Physics
Q

Question 6 If sin x 0 8 then what is the value of cos 90...

Geometry
Q

Suppose that events E and F are independent P E 0 3 and P F...

Statistics
Q

Question 2 of 16 2 A random sample of 36 individuals is obtained from a...

Statistics
Q

Exercise 4 14A Algo Single step and multistep Income statements LO 4 6 The following...

Algebra
Q

Kingbird Company manufactures a check-in kiosk with an estimated economiclife of 12 years...

Accounting
Q

Using the following information: a. Beginning cash balance on March 1, $81,000. ...

Accounting
Q

Exercise 13-7 Issuing shares and preparing the shareholders' equity section of the balance sheet...

Accounting
Q

The owners of Metlock de Trois-Rivires hockey club are considering a deal with an older,...

Accounting
Q

Northwood Company manufactures basketballs. The company has a ball that sells for $35. At present,...

Accounting