Assume that you have completed your procedures on the audit of Warren Corporation and have found the following audit issues. a. Indicate the account balance financial statement assertion that is likely to be most impacted by each of the issues.
b. Indicate whether the impact of the issue would be understatement or overstatement of the account.
1. It was discovered that a number of the items on hand and counted in the inventory were on consignment.
2. In performing a price test of inventory items, you found a number of items priced below cost.
3. It appears that the selling price of certain of the company's products has declined significantly.
4. During the physical inventory it was noted that a number of inventory items were damaged.
5. Completeness Existencee Rights and Obligations Valuation and Allocation Inventory items were stored in three different warehouses and the auditors fear that some items might be in an undisclosed fourth warehouse.
6. Some inventory items owned by the company were in transit during the physical inventory.

9. tax types: taxes are classified based on whether they are applied directly to income, called direct taxes, or to some other measurable performance characteristic of the firm, called indirect taxes. identify each of the following as a “direct tax,” an “indirect tax,” or something else: a. corporate income tax paid by a japanese subsidiary on its operating income b. royalties paid to saudi arabia for oil extracted and shipped to world markets c. interest received by a u.s. parent on bank deposits held in london d. interest received by a u.s. parent on a loan to a subsidiary in mexico e. principal repayment received by u.s. parent from belgium on a loan to a wholly owned subsidiary in belgium f. excise tax paid on cigarettes manufactured and sold within the united states g. property taxes paid on the corporate headquarters building in seattle h. a direct contribution to the international committee of the red cross for refugee relief i. deferred income tax, shown as a deduction on the u.s. parent’s consolidated income tax j. withholding taxes withheld by germany on dividends paid to a united kingdom parent corporation

Aborrower takes out a 30-year adjustable rate mortgage loan for $200,000 with monthly payments. the first two years of the loan have a "teaser" rate of 4%, after that, the rate can reset with a 5% annual payment cap. on the reset date, the composite rate is 6%. what would the year 3 monthly payment be?

After the price floor is instituted, the chairman of productions office buys up any barrels of gosum berries that the producers are not able to sell. with the price floor, the producers sell 300 barrels per month to consumers, but the producers, at this high price floor, produce 700 barrels per month. how much producer surplus is created with the price floor? show your calculations.