Attached is the assignment and template needed to be used... Any help would be greatly appreciated.

2014 Ending Balances DEBITS CREDITS Cash Marketable Securities Accounts Rec. Allowance for Bad Debt Inventory Prepaid Insurance Land Building Accumulated Dep. - Building Equipment Accumulated Dep. - Equipment Accounts Payable Salaries Payable Unearned Revenue Interest Payable Income Taxes Payable Note Payable Bonds Common Stock Additional Pd-in-Capital Retained Earnings 17,000 2,000 14,000 2,000 15,000 5,000 30,000 150,000 45,000 100,000 20,000 9,000 2,000 3,000 100,000 50,000 80,000 22,000 This is the beginning balance retained earnings...the new r and expenses have not been and/or closed to retained ear yet. his is the beginning balance in etained earnings...the new revenue nd expenses have not been booked nd/or closed to retained earnings et. Transaction Analysis Debits Credits Sales are $310,000. All sales are on credit. 1. Accounts Rec. Sales 310000 310000 Gross Margin ratio is 40 percent. 2. Cost of Goods Sold Inventory ??? You need this in order to calculate the Cost of Goods Sold; Gross margin = Sales - Cost of Goods Sold ??? $190,000 of the accounts receivable is paid by the end of the year (the remaining balance remains on the balance sheet). 3. i. Cash 190000 Accounts Rec. This is the % of receivables therefore, this is the balance sheet approach (explanation in video and text) 190000 $4,000 of A/R is written off during the year. 3.ii. Allowance for Bad Debts Accounts Rec. 4000 4000 T A 5% of Accounts Receivable (after write-off and collections) is considered to be uncollectible. 3.iii. Bad Debt Expense ??? Allowance for Bad Debts AR ??? 14000 310000 190000 Inventory purchases is $180,000, all on credit. 4.i. Inventory 180000 Accounts Payable 180000 4000 130000 Accounts Payable 9000 All accounts payable is from inventory purchases; all but $12,000 of inventory purchased is paid by the end of the year. 180000 4.ii. Accounts Payable Cash ??? ??? ??? 12000 Additional equipment is purchased on 4/1/15 for $20,000 cash. All equipment when new, including the new purchase, has/had a five 5. Equipment ??? Cash Depreciation Expense ??? Accum. Deprec. ??? ??? The building depreciates at $5,000 per year. 6. Depreciation Exp. - Build. ??? Accum. Deprec. ??? You need to depreciate the new equipment for 9 months and the existing equipment for 12 months (a full year) Half of the marketable securities were sold for $1,200. The FMV and cost of the other half are the same. 7. Cash 1200 Mkt. Securities Gain 1000 ??? Salaries are $2,200 per month. It is expected that one-half month will be owed on 12/31/15 because of when payday falls. 8. Salaries Expense ??? Cash Salaries Payable Monica: You need to book the debt an entry for the interest. ??? ??? $55,000 in cash is borrowed on 9/30/15 by issuing a Note Payable. Interest is 8% per year. 9. Cash 55000 Note Payable Interest Expense Interest Pay. 10. 55000 Interest for 3 months must be accrued. ??? ??? Bond interest expense is accrued and The bonds were sold at face value last December and pay interest on Dec. 31, 2015. paid for a full year Bond Interest Expense Cash ??? ??? 10,000 additional shares of stock were sold for $3 a share. 11. Cash 30000 Common Stock Paid in Capital 12. ??? ??? Insurance costing $18,000 was purchased on 6/1/15 (the same time in which the policy purchased in 2014 expired. The new policy w The prepaid insurance at the beginning of the p completely used up and needs to be expensed; Prepaid Insurance 18000 to expense 7 months from the new policy as we Cash Insurance Expense ??? Prepaid Insurance 18000 ??? On Dec. 31, 2015 1,000 shares of stock are repurchased from the market at $2.90/share. 13. 14. Treasury Stock Cash ??? ??? This is from the 2013 balance sheet The tax rate is 30 percent. Income taxes for the current year are payable during the first two months of the next year. and needs to be paid this year. Income Taxes Payable ??? Cash Income Tax Expense ??? Income Taxes Payable ??? ??? You can't calculate this year's income tax expense until you calculate this year's pretax profit on the income stmt. Dividends of $3,000 were paid during 2015. 15. Dividends ??? The cash has already been booked, now you are just recording the revenue being earned. Cash ??? The unearned revenue has been earned during the year (classified as other revenue). 16. Unearned Revenue Revenue ??? ??? The cash has already been booked, now you are just recording the revenue being earned. This is the analysis of Accounts Receivable has/had a five year life, no salvage value, and is depreciated using the straight-line method. the debt and then book an adjusting est. new policy was for 12 months). ing of the period was expensed; you also have policy as well. e until me ady you the ned. You need to show that a full 12 months of insurance was used, but there will still be unused insurance on the balance sheet (prepaid) ady you the ned. Your Name, Inc. Adjusted Trial Balance 31-Dec-15 DEBITS Cash Marketable Securities Accounts Rec. Allowance for Bad Debt Inventory Prepaid Insurance Land Building Accumulated Dep. - Building Equipment Accumulated Dep. - Equipment Accounts Payable Salaries Payable Unearned Revenue Interest Payable Income Taxes Payable Note Payable Bonds Common Stock Additional Pd-in-Capital Retained Earnings Treasury Stock Dividends Sales Revenue (other) CREDITS Based on the beginning bala transactions in the previous s ending balances of the below complete the adjusted trial b Cost of Goods Sold Bad Debt Expense Depreciation Expense (new purchase) Depreciation Expense (building) Salaries Expense Interest Expense Bond Interest Expense Insurance Expense Income Tax Expense Gain TOTAL If you need any accounts not in the above list, include them here Based on the beginning balances and the transactions in the previous sheet calc. the ending balances of the below accounts; complete the adjusted trial balance Your Name, Inc. Statement of Cash Flow For the year ended Dec. 31, 2015 Operating: Net Income Adjustments: You need to add back depreciation and analyze the working capital accounts (current assets and current liabilities); also, if there are any gains and losses, their effect must be removed from the operating section (please see cash flow videos and/or appendix B in your text) Investing: Financing: Plus Beg. Balance of Cash Ending Balance of Cash By adding the beginning balance of cash to the net change in cash, you will end with the ending balance of cash AND this should be the ending balance of cash you show on the balance sheet. 2014 a. ROE for 2015 b. ROA for 2015 c. RNOA for 2015 d. Stockholders' Equity for 2014 and 2015 e. NOPAT for 2015 f. NOA for 2014 and 2015 g. Current Ratio for 2014 and 2015 h. Quick Ratio for 2014 and 2015 i. Liabilities-to-Equity Ratio for 2014 and 2015 2015 Explanation Briefly explain the significance of each analysis item - ratio, etc. MBA520- Comprehensive Financial Accounting Project DUE: Saturday (the last day of the semester) This project should be completed using Excel (with formulas and linked data). The parameters of the project are below: 1. Prepare an Income Statement for the year ended 2015. This statement should be flexibly designed (formulas in cells). This should be a multi-step income statement (see video and/or exhibit 4.1 on pg. 45). To the right of your dollars in this statement, show common-sized percentages based on sales (vertical analysis). 2. Show journal entries, adjusting entries and closing entries for the below additional information... none of the journal entries have been posted to the ledger (many journal entries have been booked to get you started, however none of the entries for 2015 have been posted). You can add a transaction analysis (not required), however you must complete the entries in the Excel template. 3. Prepare a Statement of Retained Earnings for the year ended 2015. This statement should be flexibly designed. 4. Prepare a Balance Sheet dated Dec. 31, 2015. Have the Balance Sheets for 12/31/14 and 12/31/15 on the same Excel sheet labeled Balance Sheets. Again, a flexible design is required so any changes will automatically update the balance sheet. 5. Prepare a Statement of Cash Flows using the indirect method for the year ended 2015. The Statement of Cash Flows (operating section) should automatically change when assumptions are changed. The ending cash as shown on the statement of cash flows will then flow to the Balance Sheet. Cash flow videos are still available in the classroom for your review and appendix B in your textbook contains additional information that you might find helpful. 6. Analysis: On a separate sheet titled \"Analysis\" compute the following and show in a table (show your work below your table); your table should look similar to that on page 4-21: a. ROE for 2015 b. ROA for 2015 c. RNOA for 2015 d. Stockholders' Equity for 2014 and 2015 e. NOPAT for 2015 f. NOA for 2014 and 2015 g. Current Ratio for 2014 and 2015 h. Quick Ratio for 2014 and 2015 i. Liabilities-to-Equity Ratio for 2014 and 2015 Your Name, Inc. Balance Sheet 12/31/2014 Current Assets Cash $17,000 Marketable Securities (Short-term) 2,000 Accounts Receivable 14,000 Allowance for Bad Debt (2,000) Inventory 15,000 Prepaid Insurance 5,000 Total Current Assets $51,000 Property, Plant, and Equipment Land Building Accumulated Dep. - Building Equipment Accumulated Dep. - Equipment Total PPE Total Assets $30,000 150,000 (45,000) 100,000 (20,000) $215,000 $266,000 Current Liabilities Accounts Payable Unearned Revenue Income Taxes Payable Total Current Liabilities 3,000 $14,000 Long-term Liabilities Bonds, 10%, due in 2018 $100,000 $9,000 2,000 Equity Common Stock $ 50,000 (100,000 authorized, 50,000 issued) Additional Pd.-in Capital 80,000 Retained Earnings 22,000 Total Equity $152,000 Total Liabilities & Equity $266,000 Additional Information (for all entries; please see the posted Excel spreadsheet with a few journal entries already provided): 1. Sales for 2015 are $310,000. All sales are on credit. 2. Gross Margin ratio is 40 percent 3. Accounts Receivable: i. $190,000 of the accounts receivable is paid by the end of the year (the remaining balance remains on the balance sheet). ii. $4,000 of A/R is written off during the year. iii. 5% of Accounts Receivable (after write-off and collections) is considered to be uncollectible. 4. Inventory: i. Inventory purchases are $180,000, all on credit. ii. All accounts payable is from inventory purchases; all but $12,000 of inventory purchased is paid by the end of the year. 5. Additional equipment is purchased on 4/1/15 for $20,000 cash. All equipment when new, including the new purchase, has/had a five year life, no salvage value, and is depreciated using the straight-line method. 6. The building depreciates at $5,000 per year. 7. Half of the marketable securities were sold for $1,200. The FMV and cost of the other half of the securities are the same, so no adjustment to FMV is required. 8. Salaries are $2,200 per month (12 months of salaries expense must be booked). It is expected that onehalf month will be owed on 12/31/15 because of when payday falls (therefore, 11.5 months of salaries have been paid and month is still owed to the employees at year end). 9. $55,000 in cash is borrowed on 9/30/15 by issuing a Note Payable. Interest is 8% per year. 10. The bonds were sold at face value last December and pay interest on Dec. 31, 2015. 11. 10,000 additional shares of stock were sold for $3 a share. 12. Insurance costing $18,000 was purchased on 6/1/15 (the same time in which the policy purchased in 2014 expired. The new policy was for 12 months). 13. On Dec. 31, 2015 shares of stock are repurchased from the market at $2.90/share (treasury stock). 14. The tax rate is 30 percent. Income taxes for the current year are due and therefore paid during the first two months of the next year (you will have complete an entry to pay the 2014 taxes, however the 2015 taxes will not be paid until the end of January 2016). 15. Dividends of $3,000 were paid during 2015. 16. The unearned revenue has been earned during the year (classified as other revenue on the multi-step income stmt.). Required Labeled Sheets (all statements should be for 2015): 1. Data Sheet for Additional Data 2. Entries: Basic and Adjusting (you do not have to show closing entries, however keep in mind all temporary accounts are closed to retained earnings) 3. Adjusted Trial Balance for 2015 (includes the posted amounts of all entries and adjusting entries) 4. Multi-step Income Statement 5. Retained Earnings Statement 6. Classified Balance Sheet 7. Cash Flow Statement 8. Post-Close Trial Balance for 2015 9. Analysis The Post-Close Trial Balance for 2014 is provided below (based on the above balance sheet). This can be used as a starting point or you can use the above Balance Sheet; keep in mind all debits and credits ALWAYS equal AND Assets = Liabilities + Equity: Your Name, Inc. Post Close Trial Balance 31-Dec-14 DEBITS CREDITS Cash Marketable Securities Accounts Rec. Allowance for Bad Debt Inventory Prepaid Insurance Land Building Accumulated Dep. - Building Equipment Accumulated Dep. - Equipment Accounts Payable Salaries Payable Unearned Revenue Interest Payable Income Taxes Payable Note Payable Bonds Common Stock Additional Pd-in-Capital Retained Earnings 17,000 2,000 14,000 2,000 15,000 5,000 30,000 150,000 45,000 100,000 20,000 9,000 2,000 3,000 333,000 100,000 50,000 80,000 22,000 333,000