Week 7 Assignment Notes More of the Basics and Beyond
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Strayer University, Raleigh *
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317
Subject
Accounting
Date
May 22, 2024
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docx
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4
Uploaded by ProfPowerIbis26
Scents From Heaven Balance Sheet (Actual for 2024 and Projected for 2025)
ASSETS
Cash
Accounts Receivable
Inventories
Total Current Assets Net Plant and Equipment
Total Assets Accounts Payable
Accrued Liabilities Bank Loan
Total Current Liabilities
Common Equity Additional Funds Needed
Total Liabilities & Equity Other Current Assets
Fixed Assets
Accum Depreciation
Net fixed assets
Hello, Tutor, I help with creating the financial sheets and explaining them. Trouble with coming up with the figures, and where they go. The financial sheets are an example of the components on each sheet. I am confused. So the writing
involves explaining the figures that I am confused about. Thank you so very much for your help, maybe you can put it a way that I can understand visionally. My Candle Making Work Shop plans are attached as well.
LIABILITIES & EQUITY
Current Liabilities
Debt outstanding
Total Liabilities
Share Capital
Retained earnings
Total Equity
TOTAL LIABILITIES & EQUITY
Overview
Using the same business you started in the first assignment, Your Business Venture, you will continue to build a financial plan for the business.
Instructions
Write a 4-5 page paper in which you:
1.
Explain figures on a pro forma balance sheet for the first 12 months
of your business. Include the assumptions on which it is based. Justify your balance sheet.
2.
Explain figures on a pro forma income statement for the first 12 months of your business. Include the assumptions on which it is based. Justify your income statement.
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Related Questions
Required: Prepare a Balance sheet in good form (always start with the top row in each section) Put into these categories: Current Assets, Long-Term Investments, PPE, Intangible Assets, Current Liabilities, Long-Term Liabilities, and Stockholders Equity. Also label as debit or credit. The Correct total amount for each category is at the top.
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How I can calculate in which year Office Depot has the most financial liquidity using the data
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Create pro-Forma Financial Statements for 39 Storage.
This Business.
https://www.39storage.com/
Inclue the following:
cash flow statements, income statements, balance sheets, detailed financial projections, and the capital equipment list
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Hello Tutor,
Can I have assistance with creating the attached commomn statement using income and Balance sheet statements along with the interpreation. I would really appreciate it.
using the column of difference on Balance sheet and some transactions on income to determine added or subtracted and transfer to appropriate activity (operating, investing, and financing) with numbers (NO ü). Please insert more column as you need
Items
2020
2019
Difference
Added
Subtracted
Operating
Investing
Financing…
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please provide answers on the financial calculator how to calculate!!
( explain all question with proper step by step and type the answers) .
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Can you please use the attached example and walk me through basic net income calculation and net cash flow so that I can get a refresher from a previous course?
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Block 2 2018/ 2.
What additional information does an investment grid or an investment report offer compared to the information that an addressee of the financial statements can extract from the balance sheet and the profit and loss account anyway? Does Klein OHG have to create an investment grid or an investment mirror?
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Referring to the balance sheet and extra information, what is the value of the total assets?Round the answer to the nearest dollar
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Matching Type
Put a Check for the answers.
Statement of financial position.
Current assets
Liabilities
Current liabilities.
Obligations expected to be liquidated through use of current assets.
Statement showing financial condition at a point in time.
Probable future outflows of economic benefits
Resources expected to be converted to cash in one year or the operating cycle, whichever is longer
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Carter Paint Company has plants in four provinces. Sales last year were $100 million, and the balance sheet at year-end is similar in
percent of sales to that of previous years (and this will continue in the future). All assets and current liabilities will vary directly with
sales. Assume the firm is already using capital assets at full capacity.
Cash
Accounts receivable.
Inventory
Current assets
Capital assets
Assets
Total assets
$9
15
10
34
34
$68
Balance Sheet
(in $ millions)
Liabilities and Shareholders' Equity
Accounts payable
Accrued vages
Accrued taxes
Current liabilities.
Long-term debt
Common stock
Retained earnings
Total liabilities and shareholders' equity
$9
8
7
24
10
15
19
$68
The firm has an aftertax profit margin of 8 percent and a dividend payout ratio of 40 percent.
a. If sales grow by 20 percent next year, determine how many dollars of new funds are needed to finance the expansion. (Do not
round intermediate calculations. Enter the answer in millions. Round the final…
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Question -
A formalized report that summarizes your current financial situation, analyzes your
financial needs, and recommends future financial activities is:
the life cycle model
a balance sheet
a personal financial plan
a tax return
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1. Basic concepts
A. Finance, or financial management, requires the knowledge and precise use of the language of the field.
Match the terms relating to the basic terminology and concepts of the time value of money on the left with the descriptions of the terms on the right. Read each description carefully and type the letter of the description in the Answer column next to the correct term. These are not necessarily complete definitions, but there is only one possible answer for each term.
Term
Answer
Description
Discounting
A.
A schedule or table that reports the amount of principal and the amount of interest that make up each payment made to repay a loan by the end of its regular term.
Time value of money
B.
A loan in which the payments include interest as well as loan principal.
Amortized loan
C.
A value that represents the interest paid by borrowers or earned by lenders, expressed as a percentage of the amount borrowed or invested over a…
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I have a question about Assets and the order of Assets in terms of where they are placed on the Balance Sheet. Investment Funds/Investment in Stock. That is an Asset correct, and a Debit Account? Let's say you have that as an Asset for $56,000. Since there has to be an offsetting credit where would be record that offset?
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Financial concepts
Match the financial concepts in Column A with the correct meaning in Column B, and the
correct description of the concept in Column C. You may use the numbering as indicated
without writing the words. Please do not create your own numbering.
hu
Concepts in Financial
Management
(Column A)
1. Balance sheet
2. Fixed assets
3. Current assets
4. Liability
5. Short-term funds
6. Capital
7. Income
Meaning
(Column B)
A. Costs that re- main
unchanged
B. Receipts of sales
C. Income exceeds costs
D. Cash in the bank
E. Overall view on the
financia posi- tion of a
business
F. Purchase of assets
G. Current liabilities
Description
(Column C)
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Match the words to the definitions.
Solvency
Accounts Receivable
Balance Sheet
Noncurrent Assets
Income Statement
Retained Earnings
Noncurrent Liabilities.
Liquidity
Current Assets
Cash Flow Statement
✓ [Choose ]
A forecast of the amount and timing of future cash inflows and outflows over some period of time.
A summary of the revenues and expenses of a business over a given period of time.
When net worth is greater than zero, or assets are greater than liabilities on the balance sheet.
The ability to meet the day-to-day cash needs of the firm.
Profits that are not paid out in dividends but are reinvested in the firm itself.
Summarizes a firm's financial position at a given point in time and lists the firm's assets, liabilities, and net worth.
Debts that others owe the business, usually arising from previous credit sales.
Something the firms owns or uses that will not turn into cash within the next accounting period.
Either cash or an items that will become cash in the next accounting…
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I need help with filling out this financial statement sheet
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MODULE 4 HOMEWORK (MISSED QUESTIONS)
For each of the following accounts, place the NUMBER of the financial statement on which it would be found in the space provided. The numbers are listed below and the accounts are listed below that.
Answers To Choose From
1) Current Asset
2) Investments
3) Property Plant Equipment
4) Intangibles
5) Current Liabilities
6) Long Term Liabilities
7) Contributed Capital
8) Retained Earnings
Accounts:
Fund to Retire
Trucks
Investment XYZ
Additional paid-in-capital
Machinery
Preferred Stock
Merchandise Inventory
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Where We Get the Most Up-to-Date Financial Information?
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a. Recreate the income statement and balance sheet using formulas wherever possible. Each statement should be on a separate worksheet. Try to duplicate the formatting exactly.
b. On another worksheet, create a statement of cash flows for 2020. Do not enter any numbers directly on this worksheet. All formulas should be linked directly to the source on previous worksheets.
C. Using Excel's outlining feature, create an outline on the statement of cash flows that, when collapsed, shows only the subtotals for each section.
d. Suppose that sales were $425,000 in 2020 rather than $412,500. What is the 2020 net income and retained earnings?
e. Undo the changes from part d, and change the tax rate to 20%. What is the 2020 net income and retained earnings?
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View Policies
Current Attempt in Progress
Financing activities involve
O acquiring long-lived assets.
O lending money.
O acquiring investments.
O issuing debt.
Save for Later
Attempts: 0 of 1 used
Submit Answer
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Suppose that you are doing a financial statement analysis. Assume you took a financial statement and divided every entry amount in the statement by the amount of total assets. The resulting statement is commonly called a?
current ratio
common base year income statement
common size balance sheet
common size income statement
common base year balance sheet
.DO NOT GIVE PLAGRIZED ANSWER
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Application of the financial concepts you learnt (e.g. CAPM) in dailylives.
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Can you fill in the tables and answer the questions?
I would appreciate it If you could also explain how to plug this into a financial calculator.
Here's a link to a financial calculator: http://www.fncalculator.com/financialcalculator?type=tvmCalculator
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Please help me fill out this table. I am so confused on how to.
A) please help me determine the amount of assets that appear on the December 31, year 1, balance sheet.
B) Please help me find the total amount of net income that will appear on the income statement.
C) Please help me find the amount of cash flow from financing activities that will appear on the statement of cash flows.
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Identifying capital and revenue nature receipts and expenses from following information:
Salary paid, loan taken, Almirah purchase, sale of old machinery, Rent received, Electricity bill paid, Commission paid, Interest on Investment received, bank charge, Computer Purchase
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As a Finance Manager of the company you are required to:
Requirement : 1
Calculate the following from the Balance Sheet:
A
Total fixed assets
B
Total long term liabilities
C
Total current assets
D
Total current liabilities
E
Shareholders’ funds
F
Capital employed
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How can I calculate in which year Office Depot has the greatest financial liquidity using the data provided
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Find out the missing value assets in an accounting equation if liabilities is OMR 320000 and capital is OMR 119000 Select one : O a . OMR 439000 assets O b . OMR 201000 assets O c . OMR 349000 assets O d . OMR 102000 assets Clear my choice
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Related Questions
- Required: Prepare a Balance sheet in good form (always start with the top row in each section) Put into these categories: Current Assets, Long-Term Investments, PPE, Intangible Assets, Current Liabilities, Long-Term Liabilities, and Stockholders Equity. Also label as debit or credit. The Correct total amount for each category is at the top.arrow_forwardHow I can calculate in which year Office Depot has the most financial liquidity using the dataarrow_forwardCreate pro-Forma Financial Statements for 39 Storage. This Business. https://www.39storage.com/ Inclue the following: cash flow statements, income statements, balance sheets, detailed financial projections, and the capital equipment listarrow_forward
- Hello Tutor, Can I have assistance with creating the attached commomn statement using income and Balance sheet statements along with the interpreation. I would really appreciate it. using the column of difference on Balance sheet and some transactions on income to determine added or subtracted and transfer to appropriate activity (operating, investing, and financing) with numbers (NO ü). Please insert more column as you need Items 2020 2019 Difference Added Subtracted Operating Investing Financing…arrow_forwardplease provide answers on the financial calculator how to calculate!! ( explain all question with proper step by step and type the answers) .arrow_forwardCan you please use the attached example and walk me through basic net income calculation and net cash flow so that I can get a refresher from a previous course?arrow_forward
- Block 2 2018/ 2. What additional information does an investment grid or an investment report offer compared to the information that an addressee of the financial statements can extract from the balance sheet and the profit and loss account anyway? Does Klein OHG have to create an investment grid or an investment mirror?arrow_forwardReferring to the balance sheet and extra information, what is the value of the total assets?Round the answer to the nearest dollararrow_forwardMatching Type Put a Check for the answers. Statement of financial position. Current assets Liabilities Current liabilities. Obligations expected to be liquidated through use of current assets. Statement showing financial condition at a point in time. Probable future outflows of economic benefits Resources expected to be converted to cash in one year or the operating cycle, whichever is longerarrow_forward
- Carter Paint Company has plants in four provinces. Sales last year were $100 million, and the balance sheet at year-end is similar in percent of sales to that of previous years (and this will continue in the future). All assets and current liabilities will vary directly with sales. Assume the firm is already using capital assets at full capacity. Cash Accounts receivable. Inventory Current assets Capital assets Assets Total assets $9 15 10 34 34 $68 Balance Sheet (in $ millions) Liabilities and Shareholders' Equity Accounts payable Accrued vages Accrued taxes Current liabilities. Long-term debt Common stock Retained earnings Total liabilities and shareholders' equity $9 8 7 24 10 15 19 $68 The firm has an aftertax profit margin of 8 percent and a dividend payout ratio of 40 percent. a. If sales grow by 20 percent next year, determine how many dollars of new funds are needed to finance the expansion. (Do not round intermediate calculations. Enter the answer in millions. Round the final…arrow_forwardQuestion - A formalized report that summarizes your current financial situation, analyzes your financial needs, and recommends future financial activities is: the life cycle model a balance sheet a personal financial plan a tax returnarrow_forward1. Basic concepts A. Finance, or financial management, requires the knowledge and precise use of the language of the field. Match the terms relating to the basic terminology and concepts of the time value of money on the left with the descriptions of the terms on the right. Read each description carefully and type the letter of the description in the Answer column next to the correct term. These are not necessarily complete definitions, but there is only one possible answer for each term. Term Answer Description Discounting A. A schedule or table that reports the amount of principal and the amount of interest that make up each payment made to repay a loan by the end of its regular term. Time value of money B. A loan in which the payments include interest as well as loan principal. Amortized loan C. A value that represents the interest paid by borrowers or earned by lenders, expressed as a percentage of the amount borrowed or invested over a…arrow_forward
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![Text book image](https://www.bartleby.com/isbn_cover_images/9781111581565/9781111581565_smallCoverImage.gif)
Excel Applications for Accounting Principles
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ISBN:9781111581565
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Publisher:Cengage Learning