Projected Misstatement=(Sample Misstatement / Sample Book Value)×Population Book Value
Where:
• Sample Misstatement = $420,000
• Sample Book Value = $12,000,000
• Population Book Value = $20,000,000
Now, let's calculate it:
Projected Misstatement=(420,000/12,000,000)×20,000,000=0.035×20,000,000=700,000
So, the projected misstatement for the population is $700,000.
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emtofid
2 months, 1 week ago8aaab27
6 months ago