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Reference Chart
Instructions:
Create a chart detailing the three different forms of business
organizations (proprietorships, partnerships, and corporations).
1. HCS 380 Week 1 Individual Assignment Reference
Chart
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Reference Chart
Instructions:
Create a chart detailing the three different forms of business
organizations (proprietorships, partnerships, and corporations). Also
include key users of financial information and briefly explain their
roles.
Cite 3 peer-reviewed, scholarly, or similar references to support your
paper.
2. Click on the Assignment Files tab to submit your assignment.
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HCS 380 Week 1 WileyPLUS (Ex 1-15, Ex Problem 1-
3A, Ex 2-1, Ex 2-5, Problem 2-3A)
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This Tutorial contains Excel Sheet which can be used to solve below
mentioned Problem for any numbers/values
Complete the assigned exercises in WileyPLUS.
Excel Exercise 1-15
Excel Problem 1-3A
Exercise 2-1
Exercise 2-5
3. Problem 2-3A
Problem 2-2A
You should see the following assignments that are due for a grade:
• Chapter 1 - Excel assignment;
• Chapter 2 - Homework assignment – wileyplus prepare excel sheet
• Chapter 2 – Problems -- prepare excel sheet
NOTE: Assignment must be completed by Due Date.
E1-15
Classify items as assets, liabilities, and stockholders' equity, and
prepare accounting equation
Suppose the following items were taken from the balance sheet of
Nike, Inc. (All items are in millions.)
1. Cash $2,291.1 7. Inventory $2,357.0
2. Accounts receivable 2,883.9 8. Income taxes payable 86.3
3. Common stock 2,874.2 9. Equipment 1,957.7
4. Notes payable 342.9 10. Retained earnings 5,818.9
5. Buildings 3,759.9 11. Accounts payable 2,815.8
4. 6. Mortgage payable 1,311.5
Instructions
(a) Classify each of these items as an asset, liability, or stockholders'
equity and determine the total
dollar amount for each classification.
(b) Determine Nike's accounting equation by calculating the value of
total assets, total liabilities, and
total stockholders' equity.
(c ) To what extent does Nike rely on debt versus equity financing?
NOTE: Enter a number in cells requesting a value; enter either a
number or a formula in cells with a "?"
P1-3A
Prepare an income statement, retained earnings statement and balance
sheet; discuss results
On June 1, Hightower Service Co. was started with an initial
investment in the company of $22,100 cash.
Here are the assets, liabilities, and common stock of the company at
June 30, and the revenues and
expenses for the month of June, its first month of operations:
Cash $4,600 Notes payable $12,000
5. Accounts receivable 4,000 Accounts payable 500
Service revenue 7,500 Supplies expense 1,000
Supplies 2,400 Maintenance and repairs expense 600
Advertising expense 400 Utilities expense 300
Equipment 26,000 Salaries and wages expense 1,400
Common Stock 22,100
In June, the company issued no additional stock but paid dividends of
$1,400.
Instructions
(a) Prepare an income statement and retained earnings statement for
the month of June and a balance sheet
at June 30, 2014.
(b) Briefly discuss whether the company's first month of operations
was a success.
(c ) Discuss the company's decision to distribute a dividend.
NOTE: Enter a number in cells requesting a value; enter either a
number or a formula in cells with a "?" .
Exercise 2-1
6. Classify each of the following financial statement items taken from
Mordica Corporation’s balance sheet.
Accounts payable
Accounts receivable
Entry field with incorrect answer Accumulated depreciation—
equipment
Buildings
Cash
Interest payable
Goodwill
Income taxes payable
Inventory
Stock investments (to be
Land (in use)
Mortgage payable
Supplies
Equipment
Prepaid rent
Exercise 2-5
7. These items are taken from the financial statements of Donavan Co. at
December 31, 2014.
Buildings
$121,035
Accounts receivable
14,414
Prepaid insurance
3,661
Cash
13,545
11. Problem 2-3A
You are provided with the following information for Ramirez
Enterprises, effective as of its April 30, 2014, year-end.
Accounts payable
$ 868
Accounts receivable
918
Accumulated depreciation—equipment
670
Cash
1,378
16. 5,208
Stock investments (short-term)
1,274
Prepare an income statement for Ramirez Enterprises for the year
ended April 30, 2014.
Problem 2-2A
These items are taken from the financial statements of Tresh
Corporation for 2014.
Retained earnings (beginning of year)
$34,462
Utilities expense
2,128
21. Financial Statement Components
Instructions:
Your team has been asked by a local community college instructor to
speak to a class about health care accounting. The instructor has asked
you to prepare a 10-to 15- slide Microsoft® PowerPoint®
presentation in
which you do the following:
• Describe the relationship between financial statements and the
supplemental components comprised in an annual report.
• Explain how the accounting equation affects financial statement
components.
22. • Determine the effects of transactions on the accounting equation.
Include the following with your presentation:
• Detailed speaker notes
• Specific examples
• A 1-page handout to give to students
Format your presentation according to APA guidelines.
Cite 3 peer-reviewed, scholarly, or similar references to support your
paper.
Click on the Assignment Files tab to submit your assignment.
***************************************************
HCS 380 Week 2 WileyPLUS Excel Assignment (Ex 4-
12, Ex 4-13, Ex 4-16, Ex P4-1A)
23. For more course tutorials visit
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Complete the assigned exercises in WileyPLUS.
You should see the following assignments that are due for a grade:
•
o Chapter 4 - Excel assignment
NOTE: Assignment must be completed by Due Date. Automatic
deduction of 50% of points if received after due date. No points
awarded if completed after 4 days from Due Date.
Excel Exercise 4-12
Excel Exercise 4-13
Excel Exercise 4-16
Excel Problem 4-1A
E4-12 Prepare a correct income statement
24. The income statement of Garska Co. for the month of July shows net
income of $2,000
based on Service Revenue $5,500; Salaries and Wages $2,100;
Supplies Expense $900;
and Utilities Expense $500. In reviewing the statement, you discover
the following:
1. Insurance expired during July of $350 was omitted.
2. Supplies expense includes $200 of supplies that are still on hand at
July 31.
3. Depreciation on equipment of $150 was omitted.
4. Accrued but unpaid wages at July 31 of $360 were not included,
5. Services performed but unrecorded totaled $700.
Instructions
Prepare a correct income statement for July 2014.
NOTE: Enter a number in cells requesting a value; enter either a
number or a formula in cells with a "?" .
E4-13 Analyze adjusted data
This is a partial adjusted trial balance of Barone Company
BARONE COMPANY
Adjusted Trial Balance
January 31, 2014
25. Debit Credit
Supplies $700
Prepaid Insurance 1,560
Salaries and Wages Payable $1,060
Unearned Service Revenue 750
Supplies Expense 950
Insurance Expense 520
Salaries and Wages Expense 1,800
Service Revenue 4,000
Instructions
Answer these questions, assuming the year begins January 1.
(a) If the amount in Supplies Expense is the January 31 adjusting
entry, and
$300 of supplies was purchased in January, what was the balance in
Supplies
on January 1?
(b) If the amount in Insurance Expense is the January 31 adjusting
entry, and the
original insurance premium was for 1 year, what was the total
premium and
when was the policy purchased?
26. (c ) If $2,500 of salaries was paid in January, what was the balance in
Salaries and
Wages Payable at December 31, 2013?
(d) If $1,800 was received in January for services performed in
January, what was
the balance in Unearned Service Revenue at December 31, 2013?
NOTE: Enter a number in cells requesting a value; enter either a
number or a formula in cells with a "?" .
E4-16 Prepare adjusting entries from analysis of trial balance
The trial balance shown below are before and after adjustment for
Bere Company at the end of its fiscal year.
BERE OMPANY
Trial Balance
August 31, 2014
Instructions
Prepare the adjusting entries that were made
NOTE: Enter a number in cells requesting a value; enter either a
number or a formula in cells with a "?" .
27. P4-1A Record transactions on accrual basis; convert revenue to cash
receipts
The following selected data are taken from the comparative financial
statements of American
Curling Club. The club prepares its financial statements using the
accrual basis of accounting.
Dues are billed to members based upon their use of the club's
facilities. Unearned sales
revenues arise from the sale of tickets to events, such as the Skins
Game.
Instructions
(Hint: You will find it helpful to use T-accounts to analyze the
following data. You must
analyze these data sequentially, as missing information must first be
deduced before
moving on. Post your journal entries as you progress, rather than
waiting until the end.)
(a) Prepare journal entries for each of the following events that took
place during 2014.
1. Dues receivable from members from 2013 were all collected
during 2014.
2. During 2014, goods were provided for all of the unearned sales
revenue at the end
28. of 2013.
3. Additional tickets were sold for $44,000 cash during 2014, a
portion of these were
used by the purchasers during the year. The entire balance
remaining in Unearned
Sales Revenue relates to the upcoming Skins Game in 2014.
4. Dues for the 2013-2014 fiscal year were billed to members.
5. Dues receivable for 2014 (i.e., those billed in item (4) above ) were
partially collected.
(b) Determine the amount of cash received by American from the
above transactions during
the year ended September 30, 2014.
NOTE: Enter a number in cells requesting a value; enter either a
number or a formula in cells with a "?" .
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HCS 380 Week 3 Individual Assignment Accounting
Comparison (2 Papers)
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This Tutorial contains 2 Papers
29. HCS 380 Week 3 Individual Assignment Accounting Comparison
Accounting Comparison
Instructions:
Create a diagram comparing accrual and cash accounting. Also
include
a 350- to 700-word summary of the differentiation and uses of the
two.
Cite 3 peer-reviewed, scholarly, or similar references to support your
paper.
Click on the Assignment Files tab to submit your assignment.
***************************************************
HCS 380 Week 3 WileyPLUS Ex 13-9, Ex 13-13
30. For more course tutorials visit
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This Tutorial contains Excel Sheet which can be used to solve below
mentioned Problem for any numbers/values
Complete the assigned exercises in WileyPLUS.
Exercise 13-9
Exercise 13-13
Exercise 13-9
Your answer is partially correct.
Kinder Company has these comparative balance sheet data:
KINDER COMPANY
Balance Sheets
35. Net income was $30,600.
2.
Sales on account were $377,000. Sales returns and allowances
amounted to $26,600.
3.
Cost of goods sold was $201,000.
4.
Net cash provided by operating activities was $58,500.
5.
Capital expenditures were $26,100, and cash dividends were $17,300.
36. Compute the following ratios at December 31, 2014.
Exercise 13-13
Your answer is partially correct.
The condensed financial statements of Elliott Company for the years
2013 and 2014 are presented below.
ELLIOTT COMPANY
Balance Sheets
December 31 (in thousands)
2014
2013
Current assets
45. Net income
$ 315
$ 195
Compute the following ratios for 2014 and 2013. (Round all answers
to 2 decimal places, e.g. 1.83 or 12.61%.)
(a)
Current ratio.
(b)
Inventory turnover. (Inventory on December 31, 2012, was $380.)
(c)
46. Profit margin.
(d)
Return on assets. (Assets on December 31, 2012, were $1,950.)
(e)
Return on common stockholders’ equity. (Equity on December 31,
2012, was $940.)
(f)
Debt to assets ratio.
(g)
Times interest earned.
47. ***************************************************
HCS 380 Week 4 Individual Signature Assignment
Financial Statement (2 Papers)
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This Tutorial contains 2 Papers
Signature Assignment: Financial Statement
Instructions:
The community college instructor has asked for your help again. This
time, he has asked for you to personally create a document he could
48. give to his students.
Write a 750- to 1,050-word paper in which you:
• Explain the ways financial information is used in health care
organizations.
• Explain the use of the financial statement analysis as a method to
address financial issues.
• Analyze the effects of unusual or irregular items on financial
statements.
Format your paper according to APA guidelines.
Cite 3 peer-reviewed, scholarly, or similar references to support your
paper.
49. Click on the Assignment Files tab to submit your assignment.
***************************************************
HCS 380 Week 4 WileyPlus Ex 7-8, Ex7-14
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This Tutorial contains Excel Sheet which can be used to solve below
mentioned Problem for any numbers/values
Complete the assigned exercises in WileyPLUS.
Chapter 7 - Excel Assignment (E7-8);
Chapter 7 - Excel Assignment (E7-14: Cash Budget)
Exercise 7-8
The following information pertains to Joyce Company.
1.
50. Cash balance per bank, July 31, $7,419.
2.
July bank service charge not recorded by the depositor $57.
3.
Cash balance per books, July 31, $7,455.
4.
Deposits in transit, July 31, $2,791.
5.
Note for $2,091 collected for Joyce Company in July by the bank,
plus interest $55 less fee $39. The collection has not been recorded by
Joyce Company, and no interest has been accrued.
51. 6.
Outstanding checks, July 31, $705.
Exercise 7-14
Enright Company expects to have a cash balance of $63,550 on
January 1, 2014. These are the relevant monthly budget data for the
first two months of 2014.
1.
Collections from customers: January $88,550, February $163,550.
2.
Payments to suppliers: January $57,550, February $92,550.
3.
52. Wages: January $30,161, February $40,161. Wages are paid in the
month they are incurred.
4.
Administrative expenses: January $21,161, February $24,161. These
costs include depreciation of $1,000 per month. All other costs are
paid as incurred.
5.
Selling expenses: January $15,161, February $20,161. These costs are
exclusive of depreciation. They are paid as incurred.
6.
Sales of short-term investments in January are expected to realize
$12,161 in cash. Enright has a line of credit at a local bank that
enables it to borrow up to $25,000. The company wants to maintain a
minimum monthly cash balance of $37,550.
53. Prepare a cash budget for January and February.
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HCS 380 Week 5 Individual Signature Assignment
Cash Control (2 Papers)
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This Tutorial contains 2 Papers
Signature Assignment: Cash Control
Instructions:
Write a 750- to 1,050-word paper in which you:
• Explain the principles of internal control.
54. • Explain the use of cash and internal controls to prevent fraud.
• Explain why corporations invest in stocks and debt securities.
• Explain how debt and stock investments are reported in financial
statements.
Format your paper according to APA guidelines.
Cite 3 peer-reviewed, scholarly, or similar references to support your
paper.
Click on the Assignment Files tab to submit your assignment.
***************************************************
HCS 380 Week 5 Team Assignment Business Proposal
(2 Papers)
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55. This Tutorial contains 2 Papers
HCS 380 Week 5 Team Assignment Business Proposal
Business Proposal
Instructions:
For this assignment, you will use the consolidated financial
statements
you chose in Week Four. As a team, analyze your chosen
consolidated
financial statements and make recommendations to leadership based
56. on your findings.
Write a 750- to 1,050-word proposal, and include a link to your
chosen
financial statements.
Format your proposal according to APA guidelines.
Cite 3 peer-reviewed, scholarly, or similar references to support your
paper.
Click on the Assignment Files tab to submit your assignment.
SupportingMaterial:Business Proposal Grading Guide
***************************************************
HCS 380 Week 5 WileyPLUS Ex 10-8A, Ex 10-8B, Ex
10-10A, Problem 11-2A, 11-7A
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57. This Tutorial contains Excel Sheet which can be used to solve All
Wiley Problem for any numbers/values
Complete the assigned exercises in WileyPLUS
Excel Problem 10-8A
Excel Problem 10-8B
Excel Problem 10-10A
Problem 11-2A
Problem 11-7A
P10-8A
Prepare journal entries to record issuance of bonds, interest, straight-
line amortization, and balance sheet presentation
58. and balance sheet presentation
Yung Corporation sold $2,000,000, 7%, 5 year bonds on January 1,
2014. The bonds were dated January 1, 2014, and pay interest
on January 1. The company uses straight-line amortization on bond
premiums or discounts.
Instructions
(a) Prepare all necessary journal entries to record the issuance of the
bonds and bond interest expense for 2014,
assuming the bond sold at 102.
(b) Prepare journal entries as in part (a) assuming the bonds sold at
97.
(c ) Show the balance sheet presentation for the bond issue at
December 31, 2014, using (1) the 102 selling price, and
then (2) the 97 selling price
NOTE: Enter a number in cells requesting a value; enter either a
number or a formula in cells with a "?" .
P10-8B
Prepare journal entries to record issuance of bonds, interest, straight-
line amortization, and balance sheet presentation
and balance sheet presentation
59. Holmes Corporation sold $2,200,000, 8%, 5-year bonds on January 1,
2014. The bonds were dated January 1, 2014, and pay interest
on January 1. Holmes Corporation uses the straight-line method to
amortize bond premiums or discounts.
Instructions
(a) Prepare all necessary journal entries to record the issuance of the
bonds and bond interest expense for 2014,
assuming the bond sold at 102.
(b) Prepare journal entries as in part (a) assuming g the bonds sold at
98.
(c ) Show the balance sheet presentation for the bond issue at
December 31, 2014, using (1) the 102 selling price, and
then (2) the 98 selling price
NOTE: Enter a number in cells requesting a value; enter either a
number or a formula in cells with a "?" .
P10-10A
Prepare journal entries to record issuance of bonds, payment of
interest, and amortization of bond discount using effective interest
method.
60. On January 1, 2014, Lock Corporation issued $1,800,000 face value,
5%
10 -year bonds at $1,667,518 This price resulted in an effective-
interest rate of
6% on the bonds. Lock uses the effective-interest method to amortize
bond premium or
discount. The bonds pay annual interest January 1.
Instructions: (Round all computations to the nearest dollar.)
(a) Prepare the journal entry to record the issuance of the bonds on
January 1, 2014.
(b) Prepare an amortization table through December 31, 2016, (three
interest periods) for this bond issue.
Problem 11-2A
The stockholders’ equity accounts of Miley Corporation on January 1,
2014, were as follows.
Preferred Stock (7%, $100 par noncumulative, 4,100 shares
authorized)
61. $246,000
Common Stock ($3 stated value, 338,600 shares authorized)
812,640
Paid-in Capital in Excess of Par Value—Preferred Stock
12,300
Paid-in Capital in Excess of Stated Value—Common Stock
270,880
Retained Earnings
698,300
62. Treasury Stock—(4,100 common shares)
32,800
During 2014, the corporation had the following transactions and
events pertaining to its stockholders’ equity.
Feb. 1
Issued 5,300 shares of common stock for $31,800.
Mar. 20
Purchased 1,760 additional shares of common treasury stock at $7 per
share.
Oct. 1
63. Declared a 7% cash dividend on preferred stock, payable November
1.
Nov. 1
Paid the dividend declared on October 1.
Dec. 1
Declared a $0.90 per share cash dividend to common stockholders of
record on December 15, payable December 31, 2014.
Dec. 31
Determined that net income for the year was $277,500. Paid the
dividend declared on December 1.
Journalize the transactions.
64. Enter the beginning balances in the accounts and post the journal
entries to the stockholders’ equity accounts.
Prepare the stockholders’ equity section of the balance sheet at
December 31, 2014.
Calculate the payout ratio, earnings per share, and return on common
stockholders’ equity.
Problem 11-7A
Your answer is incorrect.
Cepeda Company manufactures backpacks. During 2014, Cepeda
issued bonds at 11% interest and used the cash proceeds to purchase
treasury stock. The following financial information is available for
Cepeda Company for the years 2014 and 2013.
2014
2013
Sales revenue
68. 3,942,000
Avg. total common stockholders’ equity
12,351,600
18,527,400
(a)Use the information above to calculate the following ratios for
both years:
(b) *************************************************
HCS 380 Wileyplus Exercise 13 9 (Solution with Excel
file)
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69. Just enter the value and get the answer, this excel file will work for
any value
Kinder Company has these comparative balance sheet data:
KINDER COMPANY
Balance Sheets
December 31
2014 2013
Cash $ 34,290 $ 68,580
Accounts receivable (net) 160,020 137,160
70. Inventory 137,160 114,300
Plant assets (net) 457,200 411,480
***************************************************
HCS 380 Wileyplus Exercise 13 13 (Solution with
Excel file)
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Just enter the value and get the answer, this excel file will work for
any value
The condensed financial statements of Elliott Company for the years
2013 and 2014 are presented below.
71. ELLIOTT COMPANY
Balance Sheets
December 31 (in thousands)
2014 2013
Current assets
Cash and cash equivalents $330 $360
Accounts receivable (net) 648 578
Inventory 655 585
Prepaid expenses 130 160
Total current assets 1,763 1,683
Property, plant, and equipment (net) 410 380
72. Investments 188 188
Intangibles and other assets 530 510
Total assets $2,891 $2,761
Current liabilities $998 $968
Long-term liabilities 675 575
Stockholders’ equity—common 1,218 1,218
Total liabilities and stockholders’ equity $2,891 $2,761
ELLIOTT COMPANY
Income Statements
For the Year Ended December 31 (in thousands)
73. 2014 2013
Sales revenue $3,995 $3,655
Costs and expenses
Cost of goods sold 1,148 1,068
Selling & administrative expenses 2,400 2,330
Interest expense 10 20
Total costs and expenses 3,558 3,418
Income before income taxes 437 237
Income tax expense 175 95
Net income $ 262 $ 142
74. Compute the following ratios for 2014 and 2013. (Round all answers
to 2 decimal places, e.g. 1.83 or 12.61%.)
(a) Current ratio.
(b) Inventory turnover. (Inventory on December 31, 2012, was
$400.)
(c) Profit margin.
(d) Return on assets. (Assets on December 31, 2012, were
$2,700.)
(e) Return on common stockholders’ equity. (Equity on
December 31, 2012, was $990.)
(f) Debt to assets ratio.
(g) Times interest earned.
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