[The following information applies to the questions displayed below.]The 4,000 accounts receivable of Miller Company have a total book value of $150,000. A CPA has selected and audited a sample of 100 accounts with a total book value of $3,700 and an audited value of $3,800.Using the difference estimation technique, estimated total audited value of the population is:
A. $154,054.
B. $154,000.
C. $152,000.
D. $150,000.
Answer: B
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The following balance sheet information is provided for Apex Company for Year 2: Assets Cash$5200? Accounts receivable 11,350? Inventory 14,600? Prepaid expenses 1400? Plant and equipment, net of depreciation 19,300? Land 13,200? Total assets$65,050? Liabilities and stockholders' Equity Accounts payable$2670? Salaries payable 8430? Bonds payable (due in ten years) 11,000? Common stock, no par 17,500? Retained earnings 25,450? Total liabilities and stockholders' equity$65,050? What is the company's working capital?
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