BMAL 530 Prepare Balance Sheet and Pro-forma Financial Statements

BMAL 530 Prepare Balance Sheet and Pro-forma Financial Statements in $19 only                               (Instant Download)

Excel Project Instructions

Assume ABC Company has asked you to not only prepare their 2013 year-end Balance Sheet but to also provide pro-forma financial statements for 2014. In addition, they have asked you to evaluate their company based on the pro-forma statements with regard to ratios. They also want you to evaluate 3 projects they are considering. Their information is as follows:

End of the year information:

Account 12/31/13

Ending Balance

Cash 160,000
Accounts Receivable 126,000
Inventory 75,200
Equipment 745,000
Accumulated Depreciation 292,460
Accounts Payable 36,900
Short-term Notes Payable 18,300
Long-term Notes Payable 157,225
Common Stock 450,000
Retained Earnings solve

Additional Information:

· Sales for December total 12,000 units. Each month’s sales are expected to exceed the prior month’s results by 5%. The product’s selling price is $15 per unit.

· Company policy calls for a given month’s ending inventory to equal 80% of the next month’s expected unit sales. The December 31 2012 inventory is 9,400 units, which complies with the policy. The purchase price is $8 per unit.

· Sales representatives’ commissions are 10.0% of sales and are paid in the month of the sales. The sales manager’s monthly salary will be $3,500 in January and $4,000 per month thereafter.

· Monthly general and administrative expenses include $8,000 administrative salaries, $5,000 depreciation, and 0.9% monthly interest on the long-term note payable.

· The company expects 30% of sales to be for cash and the remaining 70% on credit. Receivables are collected in full in the month following the sale (none is collected in the month of sale).

· All merchandise purchases are on credit, and no payables arise from any other transactions. One month’s purchases are fully paid in the next month.

· The minimum ending cash balance for all months is $140,000. If necessary, the company borrows enough cash using a short-term note to reach the minimum. Short-term notes require an interest payment of 1% at each month-end (before any repayment). If the ending cash balance exceeds the minimum, the excess will be applied to repaying the short-term notes payable balance.

· Dividends of $100,000 are to be declared and paid in February.

· No cash payments for income taxes are to be made during the first calendar quarter. Income taxes will be assessed at 35% in the quarter.

· Equipment purchases of $55,000 are scheduled for March.

ABC Company’s management is also considering 3 new projects consisting of the purchase of new equipment. The company has limited resources, and may not be able to complete make all 3 purchases. The information is as follows for the purchases below.

Project 1 Project 2 Project 3
Purchase Price $50,000 $75,000 $32,500
Required Rate of Return 12% 8% 10%
Time Period 3 years 5 years 2 years
Cash Flows – Year 1 $18,000 $25,000 $20,000
Cash Flows – Year 2 $22,000 $20,000 $18,000
Cash Flows – Year 3 $22,000 $18,000 N/A
Cash Flows – Year 4 N/A $16,500 N/A
Cash Flows – Year 5 N/A $15,000 N/A

 

Required Action:

Part A:

  • Prepare the year-end balance sheet for 2013. Be sure to use proper headings.
  • Prepare budgets such that the pro-forma financial statements may be prepared.
  • Sales budget, including budgeted sales for April.
  • Purchases budget, the budgeted cost of goods sold for each month and quarter, and the cost of the March 31 budgeted inventory.
  • Selling expense budget.
  • General and administrative expense budget.
  • Expected cash receipts from customers and the expected March 31 balance of accounts receivable.
  • Expected cash payments for purchases and the expected March 31 balance of accounts payable.
  • Cash budget.
  • Budgeted income statement.
  • Budgeted statement of retained earnings.
  • Budgeted balance sheet.

Part B:

  • Calculate using Excel formulas, the NPV of each of the 3 projects.
  • It is possible that ABC Company may not be able to complete all 3 projects. Therefore, advise ABC Company as to the order in which they should pursue the projects (i.e., which project should ABC Company attempt to do first, second, and last).
  • Provide justification and analysis as to why you chose the order you did. The analysis must also be done in Excel, not in a separate document.

This assignment must be submitted as 1 Excel document.

This assignment is due by 11:59 p.m. (ET) on Friday of Module/Week 8.

Sample Answer: 

Sales Budget

Sample Answer

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Managerial Accounting Budget Project

Managerial Accounting Budget Project 

Using the supplied Excel spreadsheet, complete the required elements contained in the BUDGET PROJECT – ACCT 2202 pdf file. You will be graded on:

1) Your use of Excel formulas and reference cells to build a spreadsheet that functions, in all schedules, when performing “what-if” analysis by changing the assumptions located in the assumptions tab.

2) The accuracy of the budgeted figures as derived from the formulas entered. Since I will be supplying you with check figures, simply hard keying those figures into their respective cells will not count.

A general recommendation: there should not be any cell that doesn’t contain either a formula or a reference back to another cell located either in the assumptions tab or another schedule. Each cell identified with manual calculations or hard keyed figures will be deducted 10 points for each cell.

Finally, a general warning: while I encourage you to work in groups on this project, each student will be graded by their individual spreadsheet submitted for grading. With that in mind, construct your own spreadsheet. There are several ways to track the origination of the spreadsheet, which should act as a deterrent from breaching academic integrity. Any files that are deemed to be someone else’s work will result in a zero for the project and further options will be pursued. There will be substantial opportunity to perform well on this project if those opportunities are harvested.

Price of Answer: Just US$31 onlybuy-nowNeed Assistance…??  email us at [email protected].

If you need any type of help regarding Homework, Assignments, Projects,  Case study, Essay writing or any thing else then just email us at [email protected]solvemyquestion.com.  We will get back to you ASAP. Do not forget to maintain the time frame you need you work to be done.

ACC206 Chapter 8 Solutions (5 Questions)

ACC206 Chapter 8 Solutions (5 Questions) in $50 only

1. Basic present value calculationsCalculate the present value of the following cash flows, rounding to the nearest dollar:a. A single cash inflow of $12,000 in five years, discounted at a 12% rate of return.b. An annual receipt of $16,000 over the next 12 years, discounted at a 14% rate of return.c. A single receipt of $15,000 at the end of Year 1 followed by a single receipt of $10,000 at the end of Year 3. The company has a 10% rate of return.d. An annual receipt of $8,000 for three years followed by a single receipt of $10,000 at the end of Year 4. The company has a 16% rate of return.

2. Cash flow calculations and net present value

Financial Accounting Four Problems Assignment

Financial Accounting Four Problems Assignment in $14 only

Answer all 4 questions. Must provide a response in order to received partial credit.

Question 1:

During March, the following transactions were completed by ABC Inc., a new business started on March 1, 2015.

March

1 Sold 20,000 shares of $10 par value stock for $200,000 cash.

1 Purchased equipment for $36,000, paying $6,000 cash, charging the balance on account.

3 Purchased office supplies for $5,000 on account.

5 Paid $3,600 cash for 1-year insurance policy effective March 1. Use the account Prepaid Insurance to record this asset.

12 Billed customers $8,000 for professional services.

18 Paid $12,000 cash on amount owed on equipment and $3,000 on amount owed on office supplies.

20 Paid $7,000 cash for employee salaries.

21 Collected $4,000 cash from customers billed on March 12.

25 Billed customers $10,000 for professional services.

31 Paid $1,200 for the monthly utilities for the office.

31 Paid cash dividend of $.80 per share to shareholders

Questions on Operating and Financial Budget

Questions on Operating and Financial Budget in $15

E22-24 Preparing an operating budget

Dunbar Company manufactures drinking glasses. One unit is a package of 8 glasses, which sells for $20. Dunbar projects sales for April will be 3,000 packages, with sales increasing by 100 packages per month for May, June, and July. On April 1, Dunbar has 250 packages on hand but desires to maintain an ending inventory of 10% of the next month’s sales. Prepare a sales budget and a production budget for Dunbar for April, May, and June.

E22-27 Preparing a  budget

Cramer Company projects the following sales for the first three months of the year: $12,500 in January; $13,240 in February; and $14,600 in March. The company expects 70% of the sales to be cash and the remainder on account. Sales on account are collected 50% in the month of the sale and 50% in the following month. The Accounts Receivable account has a zero balance on January 1. Round to the nearest dollar.

Management Accounting Case Report Assignment 2015

Management Accounting Case Report Assignment 2015 in $17 only (Instant Download)

Having impressed the Board of Directors with the analysis that you prepared for Maureen Pistana, the Chief Financial Officer at Greenwood Industries, you have been invited to be present at the next senior managers’ meeting. Before you attended the meeting, Maureen spoke to you. “Be careful with what you promise them in the meeting as you will be held accountable for that. Don’t go promising to do things that you cannot, otherwise I won’t be able to back you up. Trust me, your first analysis is not going to save you if you take on too much and stuff-up here!”
All the divisional managers were present at the meeting and these included Michael Fowler (Birchtree: electronic medical products), Gordon Stapleton (Pinetree: video cameras), Shirley Robson (Oaktree: large screen TVs), Alice Nguyen (Cedartree: kitchen accessories) and Vijay Chandra (Gumtree: sound systems). Additionally, the CEO, Charles Kim, was present along with Maureen. This made for a very large and noisy meeting.

ACCT 304 Week 4 Midterm

ACCT 304 Week 4 Midterm

1. (TCO 1) Which of the following has the authority to set accounting standards in the United States?

2. (TCO 2) The conceptual framework’s qualitative characteristic of faithful representation includes:

3. (TCO 3) A sale on account would be recorded by:

4. (TCO 3) When a tenant makes an end-of-period adjusting entry credit to the “Prepaid rent” account:

5. (TCO 3) Permanent accounts would not include:

ACC 300 Entire Course 2015

ACC 300 Entire Course 2015 

ACC300 Entire Course 2015

ACC/300 Complete Course 2015

Following files are available with the answer:

  1. Week 2 – Accounting Equation Paper (500 Words)
  2. Week 3 – P1-3A and P3-5A Solutions
  3. Week 3 – Accounting Terms Paper and P4-2A Solutions
  4. Week 4 – P2-6A and P13-2A Solutions
  5. Week 5 – Publicly Traded Corporation Paper
  6. Week 5 – PE-2, E7-5, E7-6 and E7-9 Solutions
  7. Week 5 Final Exam Answer Guide – 30 Questions

Price of Answer: Just US$16 only (Instant Download)

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If you need any type of help regarding Homework, Assignments, Projects,  Case study, Essay writing or any thing else then just email us at [email protected]solvemyquestion.com.  We will get back to you ASAP. Do not forget to maintain the time frame you need you work to be done.

Capital Budgeting/ Cost of Capital

Capital Budgeting/ Cost of Capital in $14

Shell Solar Water Inc. (SSI) is a market leader in the production and distribution of solar water heating systems throughout the OECS.The company is considering establishing a production plant on the island of Grand Cayman to decrease the cost of its operations. SSI had already purchased some land two years ago for $1,500,000 on which it plans to build its new plant which costs $4,000,000 to house its manufacturing business.The legal fee attached to this purchase was $120,000 and the company believes it can recover this cost through the sales of its systems which it expects to be more than what it currently enjoys.The company uses a CCA rate of 8 percent for the amortizing of its plant which can be scrapped for $780,000 at the end of the project life.

Breakeven Analysis

AC 325 Budgeting Project $12 onlygallery-thumbnails

According to the course syllabus, this project will count as 30% of your grade. The project is to be completed as follows:

1) The project must be completed using Excel or similar electronic spreadsheet software. Your cell formulas must be turned in with the project itself. That is, you may print out the project but you must also turn an excel file with your spreadsheets on it. (i.e. do not just type the project in Word). The goal is to prepare the budget and then reference certain totals and line items to the flexible budget and the performance report.

2) Good form and readability is important. You are the accounting manager of the Company so your work should be professional and complete as well as accurate.

Brand Management

Brand Management in $7 only

Your task is to present a detailed analysis of the branding strategy for the following brand:

Disney

The questions / statements below will guide each section of your report. Make sure that in addressing the issues below you define the terms that you are using and demonstrate an understanding of the theoretical concepts you are
studying.

1. the first step in strategically managing a brand is to identify and establish brand
positioning and values. Comment on how this has been done with your chosen brand and evaluate their
success in positioning this brand.

Financial Accounting Exam 4

Financial Accounting Exam 4 in $8 only

1. Accounts receivable amounted to $215,000 at the beginning of the year and $245,000 at the end of the year. Income reported on the income statement for the year was $300,000. The cash flow from operating activities on the cash flow statement using the indirect method is

A. $315,000.

B. $270,000.

C. $300,000.

D. $330,000.

2. In a common-size income statement, selling expenses are 55%. This means that they’re 55% of…

Accounting Quiz 2 MCQs 2015

Accounting Quiz 2 MCQs 2015 in $11 only (Instant Download)

Multiple choice (5 pts each) 

1) In a good internal control system, which of the following documents are required for proper approval of a payment to a supplier?

a) a journal entry, a supplier invoice, and a description of the goods being purchased

b) a receiving report, an invoice, and a purchase order (Sample  Answer)

c) a purchase order, a journal entry, and a price catalog

d) a supplier invoice, a bill of lading, and the supplier’s financial statements

2) In the following situation, which internal control procedure needs strengthening?

Tulane University Houston Financial Accounting Final Exam (Summer 2015)

Tulane University Houston Financial Accounting Final Exam (Summer 2015) done June 2015 in $19

Presented below is the year-end 2005 balance sheet for The Little Corporation.

During 2006, the company entered into the following events:

1. Sales to customers totaled $2 million, of which $1.6 million were on credit and the remainder was cash sales. The cost of goods sold totaled $800,000.

2. Purchased $700,000 of inventory on credit.

3. Paid $620,000 cash to employees as wages. (This amount includes the wages payable at December 31, 2005.)

4. Collected $1.75 million cash from customers as payment on outstanding accounts receivable.

5. Paid $1.2 million cash to suppliers on outstanding accounts payable.

6. Sold machinery for $120,000 cash on January 1, 2006. The machinery had cost $370,000 and at the time of sale it had a net book value of $160,000.

7. Paid miscellaneous expenses totaling $98,000 cash.

8. Sold common stock for $450,000 cash.

9. Invested $200,000 of excess cash in short-term marketable securities.

10. Declared and paid a cash dividend of $100,000.

As part of the year-end audit, the internal audit staff identified the following additional information:

1. $180,000 of prepaid rent was consumed during the year.

2. The equipment had a useful life of ten years and the machinery of 20 years. The company uses straight-line depreciation. (No depreciation should be recorded for machinery in Item 6 above.)

3. The intangible assets had a remaining useful life of ten years.

4. Interest on the bank loan and bonds payable was ten percent. During the year, interest payments totaling $260,000 had been paid in cash.

Cost Accounting Problem 3-21 – Savallas Company

Cost Accounting Problem 3-21 – Savallas Company in $8 only

Savallas Company is highly automated and uses computers to control manufacturing operations. The company uses a job-order costing system and applies manufacturing overhead cost to products on the basis of computer-hours. The following estimates were used in preparing the predetermined overhead rate at the beginning of the year:

Computer-hours 85,000
Fixed manufacturing overhead cost $ 1,275,000
Variable manufacturing overhead per computer-hour $ 3.00

Cost Accounting Questions Assignment

Cost Accounting Questions Assignment

First two questions use this:

Company produced 2100 units

Standard:

Material 2lbs per unit at 5.80 per lb

Labor 3 direct labor hours per unit at 10 per hour

Actual:

Material 4250lbs purchased and used at 5.65 per lb

Labor 6,600 direct labor hours at 9.75 per hours

1. What is the labor rate variance

A. 1650U

B. 1650F

C. 1575U

D. 1575F

2. What is the labor efficiency variance?

ACC – Toy Box, Inc.,

ACC – Toy Box, Inc., in $8.50 (Instant Download)

Toy Box, Inc., is contemplating expanding sales of their children’s toys. The have an opportunity to stock and sell the X toy that has been a big hit with children everywhere. They must order the X toys from the manufacturer in a minimum order of 100 at a cost of $12 each. They could resell the X toy in their store for $22 each.

Due to anticipated demand, Toy Box, Inc., will need to hire an additional part-time cashier at $600 a month, which will be classified as a fixed-cost attributable to the X toy. In addition, they have offered a $1 sales commission per toy to their floor sales representative. Finally, they will include a package of trading cards with every purchase of an X toy, which will cost them an additional $2 each.

ACC – Eastwood Company’s Balance Sheet

ACC – Eastwood Company’s Balance Sheet

Prepare a balance sheet as of December 31, 2014, so that all important information is fully disclosed.

EASTWOOD COMPANY
ADJUSTED TRIAL BALANCE
31-Dec-14
Debit Credit
Cash $41,000
Accounts Receivable $163,500
Allowance for Doubtful Accounts $8,700
Prepaid Insurance $5,900
Inventory $208,500
Equity Investments (long-term) $339,000
Land $85,000
Construction in Process (building) $124,000
Patents $36,000
Equipment $400,000
Accumulated Depreciation—Equipment $240,000
Discount on Bonds Payable $20,000
Accounts Payable $148,000
Accrued Liabilities $49,200
Notes Payable $94,000
Bonds Payable $200,000
Common Stock $500,000
Paid-in Capital in Excess of Par—Common Stock $45,000
Retained Earnings $138,000
Grand Total $1,422,900 $1,422,900

Additional information: