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Anston Products sells equipment and parts to retailers throughout the United States

Answer all parts of these requirements on this page through page 7-33. It is more convenient to complete the assignment if you remove pages 7-31 and 7-33 now. For each requirement, include the command you used, where applicable, and the correct answer or exception(s) found. For requirements that require a printout, include the assignment number on the printout you hand in to the instructor.
Anston Products sells equipment and parts to retailers throughout the United States. You are planning tests of inventory purchases for the yea r ended 6/30115. Inventory acquisitions are by far the most significant acquisition transactions, and they a rerecorded in a separate acquisitions journal already included in ACL as the Inventory _Purchases table in the Anston Products project.
You have already completed the preliminary internal controls assessment for acquisitions and have identified several deficiencies. After completing planning, your assistant will be doing tests of controls and substantive tests of transactions for acquisitions, as well as year-end testing of accounts payable.
The IT department informed you that there a re 752 records in the file and the control totals for only the amount column is 4,090,981.79. The general ledger totals for inventory purchases are:
July
$ 234,250.59
January
$ 247,300.69
August
$ 190,742.00
February
$ 1,358,603.66
September
$ 311,244.41
March
$ 250,049.56
October
$ 176,435.11
April
$ 204,049.56
November
$ 300,942.85
May $ 321,416.05
December $ 301,940.49
June $ 293,731.16
Complete the following requirements using ACL:
Q 1. Use the Verify, Count, and Total commands to determine the completeness of the inventory purchases file and the accuracy of the information provided by IT. Explain.
Answer:
Q 2. Determine whether the general ledger monthly total is correct. Explain.
Answer:
Q 3. Without using any analysis commands, identify any date or data concerns that you believe require any follow-up. State what you did and any concerns identified.
Answer:
Q 4. Perform classify or summarize commands on the key fields as a test of their reasonableness. State each command you used, the fields used in the command, and any concerns that you believe require additional testing.
Answer:
Q 5. The audit plan calls for testing a random sample of all acquisition transactions, as well as tests of the existence and completeness of year-end accounts payable. Indicate how you would modify your testing in response to the concerns identified

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