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    The Financial Statements

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    Financial Statements

    PLEASE HELP! I am to use the attached Mini-Case Study (Home Safety Inc) and prepare a one-year financial plan by creating a pro forma set of financial statements (income statement, balance sheet, and statement of cash flows) based on a 25% increase in profitability and other criteria presented in the case. Microsoft® Excel®

    Income Statement, Balance Sheet, and paragraph

    Details: Doug Maltbee formed a lawn service business as a summer job. To start the business on May 1, he deposited $1,000 in a new bank account in the name of the proprietorship. The $1,000 consisted of a $600 loan from his father and $400 of his own money. Doug rented lawn equipment, purchased supplies, and hired fellow student

    Problem Set

    P4.) At the end of august 20xx, the sheri alexander, capital account had a balance of $74,600. After operating during Sept.,her Moon Valley Riding had the following account balances: Cash 17,400 Buildings 60,000 Accounts Receivable 2,400 Horses 20,000 Supplies 2,000

    P6. Rosa Partidge started The Creative Frames Shop

    P6.)Rosa Partidge started The Creative Frames Shop. The owner: a. Deposited 21,00 to strat business b. paid current months rent $1,500 c. purchased store equipment on credit 10.800 d. purchased framing supplies 5,100 e. received framing revenue 2,400 f. billed cu

    Balance Sheet Analysis

    The proprietors of two businesses, L.L. Sams Company and Melinda Garcia Career Services, have sought business loans from you. To decide whether to make the loans, you have requested their balance sheets. Solely on the basis of these balance sheets, to which entity would you be more comfortable lending money? Explain fully, c

    Preparation of financial statements

    Please help with the following problem. Provide at least 300 words. Discuss why no estimates or subjectivity is allowed in the preparation of financial statements.

    Building Financial Models

    The following tables contain financial statements for Dynastatics Corporation. Although the company has not been growing, it now plans to expand and will increase net fixed assets (that is, assets net of depreciation) by $200,000 per year for the next 5 years and forecasts that the ratio of revenues to total assets will remain a

    Fundamentals of Financial Statements

    Many of the transactions affect more than one financial statement. What are five transactions that for example can specify different information that is conveyed within financial statements. Suppose Aunt Connie is getting ready to visit her banker seeking a loan to expand her business. She wants to demonstrate the strength

    Set of pro forma financials (income statement)

    For the company Bristol Myers Squibb Pharmaceuticals Develop a set of pro forma financials (income statement and balance sheet only) for the next fiscal year end using the percent-of-sales-method.

    Consolidated Financial Statement of Cash Flows for Peak and its Subsidiary

    The following information has been taken from the consolidation worksheet of Peak and its 90 percent-owned subsidiary, Valley: - Peak reports a $12,000 gain on the sale of a building. The building had a book value of 32,000 but was sold for $44,000 cash. - The noncontrolling interest in Valley's income is reported as $23

    Mill Company Income Recognition

    Mill Company began operations on January 1, 2005 and recognized income from construction type contracts under the percentage of completion method for tax purposes and the completed contract method for financial reporting purposes. Information concerning income recognition under each method is as follows: Percentage of

    ASSISTANCE

    SUPERIOR LIVING, INC IS A PRIVATE DOMESTIC PRIVATE MANUFACTURER OF HOME FURNITURE WHICH RUNS 3 DIVISIONS: 1. SALES 2. MARKETING 3. MANUFACTURING PERSONNEL LIST THE ADVANTAGES OF COST VERSUS REVENUE OF THE LUXURY DEPT VERSUS THE OTHER DIVISIONS: SALES, MARKETING, AND MANUFACTURING PERSONNEL/AND ITS 6 PRODUCT LINES:

    Balance Sheet J

    Please see the attached file. (Preparation of a Balance Sheet) Presented below is the trial balance of John Nalezny Corporation at December 31, 2004. Debits Credits Cash $ 197,000 Sales $ 8,100,000 Trading Securities (at cost, $145,000) 153,000 Cost of Goods Sold 4,800,000 Long-term Investments

    What should the company report on its balance sheet at December 31, 2005?

    At the close of its first year of operations, on December 31, 2005, the Walker Company had accounts receivable of $250,000, which was net of the related allowance for doubtful accounts. During 2005, the company had charged to bad debt expense of $40,000 and wrote off, as uncollectible, accounts receivable of $10,000. Require

    Income statement/Classified balance sheet help

    Need help in preparing an income statement for Doug's Lawn Service for the four months May through August, 200_. I then need to prepare the classified balance sheet of Doug's Lawn Service at August 31. I need to find out if the summer work business was successful? and wat was the net income? Please include any calculations that

    Prepare Retained Earnings Statement

    All revenue and expense accounts have been closed at the end of the calendar year for Spehr Company. The Income Summary account has total debits of $500,000 and total credits of $650,000. As of the same date, Retained Earnings has a balance of $115,000, and Dividends has a balance of $60,000. Instructions (a) Prepare a reta

    Given balance sheet accounts, what is the amount of quick assets?

    Based on the following data, what is the amount of quick assets? Accounts payable $ 30,000 Accounts receivable 65,000 Accrued liabilities 7,000 Cash 20,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 100,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (sho

    Financial accounting problem7-8

    (See attached file for full problem descriptions) --- Problem #7 The life of the construction contract is 4 years. The firm used the percentage-of-completion method. Under this method, cash collected and revenues recognized are shown below. Total cost of the project was $ 800,000. What portion of the total cost was incurre

    Preparing a Corrected Balance Sheet for Eric's Bike Shop, Inc.

    Problem #3 A friend of yours has prepared the following balance sheet for his bicycle shop but it has a problem. He thought his total assets did not reflect the assets available to the firm. He has asked you to take a look at his balance sheet and help him out. (see data in attached file) Required: a) Prepare a corr

    journal entries and balance sheet presentation of the bonds

    Stover Company issues $400,000 of 10%, 10-year bonds on January 1, 2003 at 102. Interest is payable semiannually on July 1 and January 1. The issue was correctly recorded. The company uses the straight-line method of amortization. Instructions (a) Journalize the entries for bond interest on (1) July 1, 2003 and (2) December

    income statement and balance sheet related to pensions in 2004

    (See attached file for full problem description) --- Simson, Inc. obtained the following information from the insurance company that administers the company's employee defined benefit pension plan: For the Year Ended December 31, 2004 2005 Plan assets (at fair value) $2,000,000 $2,800,000 Accumulated benefi

    Student query: Balance Sheet

    (Preparation of a Balance Sheet) Presented below is the trial balance of John Nalezny Corporation at December 31, 2004. Debits Credits Cash $ 197,000 Sales $ 8,100,000 Trading Securities (at cost, $145,000) 153,000 Cost of Goods Sold 4,800,000 Long-term Investments in Bonds 299,000 Long-term I

    Melanie Griffith Company closes its books monthly...

    (See attached file for full problem description) --- Melanie Griffith Company closes its books monthly. On September 30, selected ledger account balances are: Notes Receivable $28,000 Interest Receivable $ 216 Notes receivable include the following. Date Maker Face

    Need a simple Income statement and a balance sheet.

    Hello What I need is a simple Income statement and a balance sheet in excel for a business plan. Please make up the 2 financial sheets balanced and ready for me to view and understand. You may add numbers and make up fictional debits and credits, etc as you go. Just as long as it balances. The purpose is for me to be able to s

    Jamestown Company

    1. Fill in the balance sheet for the Jamestown Company presented below based on the following data (assume a 365-days year): Sales = $3,650,000 Total Asset Turnover = 4X Current Ratio = 3:1 Quick Ratio = 2:1 Current Liabilities to net worth = 30% Average collection period = 20 days Total debt to total assets = .4