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(Doc) Auditing Theory and Practice | Assignment

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Added on  2020-03-16

(Doc) Auditing Theory and Practice | Assignment

   Added on 2020-03-16

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Running head: AUDITING THEORY AND PRACTICEAuditing theory and practiceName of the studentName of the universityAuthor note
(Doc) Auditing Theory and Practice | Assignment_1
1AUDITING THEORY AND PRACTICE Table of ContentsIncome statement of Alizarin enterprises for two years.............................................................2Balance sheet of Alizarin Enterprises........................................................................................3Analysis......................................................................................................................................4Reference....................................................................................................................................7
(Doc) Auditing Theory and Practice | Assignment_2
2AUDITING THEORY AND PRACTICE Income statement of Alizarin enterprises for two yearsIncome statement of Alizarin Enterprises Particulars31st March201630th June2016 (b)30th June2015 (a)Percentagechangefrom (a-b)AmountAmountSales 182,812 243,749 187,45030.03%Less: cost of sales 49,024 65,365 63,5952.78%Sales revenue 133,788 178,384 123,85544.03%Service fees 44,063 58,751 58,0001.29%Other income 900 1,200 25,000-95.20%Interest income 36 48 50-4.00%Total revenue 178,787 238,383 206,90515.21%Less: ExpensesBank charges 261 348 350-0.57%Depreciation 26,114 34,819 15,590123.34%Printing 189 2522500.80%Miscellaneous 1,800 2,400 - Wages 42,134 56,179 53,0006.00%Superannuation 4,002 5,336 4,77011.87%Total expenses 74,500 99,333 73,96034.31%Net profit before interest and tax 104,287 139,049 132,9454.59%Less: Interest expenses 8,100 10,800 10,8000.00%Net profit 96,187 128,249 122,1455.00%
(Doc) Auditing Theory and Practice | Assignment_3
3AUDITING THEORY AND PRACTICE Balance sheet of Alizarin EnterprisesBalance sheet of Alizarin EnterprisesParticulars31st March201630th June2015AmountAmountAssetsCurrent assetsCash at bank 99,251 1,02,503 Accounts receivable 1,21,820 1,12,000 Inventory 1,89,000 1,75,000 Total current assets 4,10,071 3,89,503 Non-current assetsMachinery 65,000 65,000 Less: Depreciation 43,964 24,375 Net value of machinery 21,036 40,625 Motor vehicles 65,000 65,000 Less: Depreciation 26,000 20,150 Net value of motor vehicles 39,000 44,850 Furniture 7,500 7,500 Less: Depreciation 2,925 2,250 Net value of furniture 4,575 5,250 Total non-current assets 64,611 90,725 Total assets 4,74,682 4,80,228 LiabilitiesBank Loan 2,16,000 2,16,000 Total liabilities 2,16,000 2,16,000 Shareholder's equityEquity 1,62,495 1,42,083 Retained profit 96,187 1,22,145 Shareholder's equity 2,58,682 2,64,228 Total liabilities and equity 4,74,682 4,80,228
(Doc) Auditing Theory and Practice | Assignment_4

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