BUS591 – Financial Statement and Analysis

 

Week 4 Homework Assignment Templates

 

Instructions:  Only enter data in the yellow boxes.  The remaining areas are already completed for you.

 

Save the file as follows:  lastnamewk4.docx

 

Submit to the assignment box before the due date. (Late assignments will receive a late penalty).

 

 

Problem 8-2B

 

(a) Journalize the transactions, including explanations.  (Note, enter all accounts in one box.  The dates have been included to help with formatting). 

 

 

Date		Account Titles and Explanation		Debit		Credit
1
2
3
4
5

 

 

(b) Enter the January 1, 2014 balances in Accounts Receivable and Allowance for Doubtful Accounts. Post the transactions to the ledger T Accounts

Be sure to post the amounts to the correct side of the T-Account!

 

Accounts Receivable
Bal.	(2)
(1)	(3)
(5)	(4)
	(5)
Bal.

 

 

Allowance for Doubtful Accounts
(4)	Bal.
	(5)
	Bal.

 

 

(c) Prepare the journal entry to record bad debt expense for 2014, assuming that aging the accounts receivable indicates that expected bad debts are $140,000.

 

Balance needed…………………………………………………………………….                                               $

Balance before adjustment [see (b)]…………………………………………

Adjustment required……………………………………………………………..                                                $

The journal entry would therefore be as follows:

 

(d) Accounts Receivable Turnover Ratios:

 

Enter your answer here

 

Average Collection Period: 

 

Enter your answer here

 

 

 

 

 

 

 

Problem 8-6B (next page)

 

 

(a) Journalize the transactions, including explanations.  (Note, enter all accounts in one box.  The dates have been included to help with formatting). 

 

 

Date		Account Titles and Explanation		Debit		Credit
5
20
Feb     18
Apr     20
30
May   25
Aug    18
Sept.    1

 

 

Problem 9-2B

 

(a) Journalize the transactions, including explanations.  (Note, enter all accounts in one box.  The dates have been included to help with formatting). 

 

If there are two entries for the same day, then you do not need to enter the date again.

 

 

Date		Account Titles and Explanation		Debit		Credit
April     1
May     1
May     1
June      1
Sept     1
		PART B
Dec     31
31

 

 

(c) Partial Balance Sheet

 

TONG CORPORATION
Partial Balance Sheet
December 31, 2014
Assets
Plant assets
Account title	Amount
Account title	Amount
Account title	Amount
Account title (or contra account)	Amount
Total plant assets		Amount

 

 

 

 

Problem 9-7B

 

(a)

BUS 1
Year	Computation	Accumulated Depreciation
	Amount
	Amount
	Amount

 

 

BUS 2
Year	Computation	Accumulated Depreciation
	Amount
	Amount
	Amount

 

BUS 3
Year	Computation	Accumulated Depreciation
	Amount
	Amount
	Amount

 

(b)

 

BUS 2
Year	Depreciation Expense
	Amount
	Amount

 

Assignment4

Template Week FourPreview the document or you may complete problems P8-2B and P8-6B from Chapter 8 and problems P9-2B and P9-7B from Chapter 9 of your text. Submit all your work to your instructor by the posted due date. Show all your work in order to earn full credit.

Discussion5 Wednesday 7/5 1)Discuss current liabilities and long-term liabilities. What are the differences between the two? Illustrate your understanding of liabilities, making sure to identify major types of current liabilities. 2)Obtain a copy of Colgate’s annual report from the Ashford Online Library or from a valid academic source found elsewhere on the Internet. Use this information to answer the following questions. If researching online, go to the Colgate company website (Links to an external site.)Links to an external site. (http://www.colgate.com). Use the ratios discussed in Chapter 11 (dividend payout ratio and return on common stockholders’ equity) to evaluate Colgate’s dividend and earnings performance from a stockholder’s perspective. Your answer should illustrate understanding of dividend ratios and return on equity ratios, an analysis of financial statements.

Assigment5 Sunday 7/9

In an eight- to ten-page paper (not including the title and reference pages) research and discuss the SEC’s company filings requirements. In your paper:

Describe how investors can use the Securities and Exchange Commission’s (SEC) EDGAR database (https://www.sec.gov/edgar/searchedgar/webusers.htm) Links to an external site.to quickly research a company’s financial information filed on Forms 10-K and 10-Q. Identify the differences between the Annual Report send to shareholders and the Annual Report on Form 10-K, which must be filed with the SEC. Describe the contents of: Form 10-K SEC filings Management Discussion and Analysis Auditors’ Report Selected Financial Data Discuss how the SEC”s requirement for domestic and foreign companies using US GAAP to provide their financial statements in the XBRL format can improve financial reporting? Most publicly traded companies are examined by numerous analysts. Find analysts’ ratings about a company of your choice by visiting biz.yahoo.com/I. Provide a comparison over time and across companies in the same industry by answering the following questions: How many analysts rated the company? What percentage rated it a strong buy? What was the average rating for the week? Did the average rating improve or decline relative to the previous week? It must include at least six scholarly sources