Flower Shoppe: adjusted trial balance to financial stmts
Not what you're looking for?
Based on the adjusted trial balance and additional information, prepare the following in an Excel file to give to the controller for review:
o Balance sheet
o Income statement
o Statement of retained earnings
o Statement of cash flows
The following is additional information about the Flower Shoppe that is needed for financial-statement preparation:
Net income for the year ended December 31, 2008 was $10,845.
Changes from the prior year's balances included the following:
- a decrease in accounts receivable of $300.
- a decrease in inventory of $450.
- an increase in accounts payable of $250.
- an decrease in accrued expenses of $100.
Land was purchased in April for $3,500.
Cash as of January 1, 2008 was $10,105.
The Flower Shoppe
Adjusted Trial Balance
[see the attached file]
Purchase this Solution
Solution Summary
Your excel spreadsheet with an income statement, a balance sheet, a statement of cash flows and a statement of retained earnings is attached. Click in cells to see computations.
Education
- BSc, University of Virginia
- MSc, University of Virginia
- PhD, Georgia State University
Recent Feedback
- "hey just wanted to know if you used 0% for the risk free rate and if you didn't if you could adjust it please and thank you "
- "Thank, this is more clear to me now."
- "Awesome job! "
- "ty"
- "Great Analysis, thank you so much"
Purchase this Solution
Free BrainMass Quizzes
Six Sigma for Process Improvement
A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.
Business Ethics Awareness Strategy
This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.
Organizational Behavior (OB)
The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.
Marketing Research and Forecasting
The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.
Team Development Strategies
This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.