FINANCIALS
Financial Statement Preparation
		6/30/14
Accounts payable		$764.80
Accounts receivable		?
Accumulated depreciation - buildings		$512.80
Accumulated depreciation - fixtures		$689.60
Advances from customers		$21.00
Advertising expense		$271.00
Allowance for bad debts		$12.60
Bad debt expense		$23.00
Bonds payable (due 9/1/20)		$916.60
Buildings		$1,166.40
Cash		$112.80
Common stock		$470.40
Copyrights		$20.80
Cost of goods sold		$5,727.80
Depreciation expense		$227.80
Discontinued operations loss (net of tax)		$376.60
Dividends declared on common		$201.80
Dividends declared on preferred		$21.20
Fixtures		$1,789.40
Gain on the sale of old fixtures		$108.80
Goodwill		$106.80
Income tax expense		$280.20
Income tax payable		$75.00
Interest expense		$77.60
Interest payable		$14.20
Inventories		$690.20
Land		$201.80
Long-term notes payable		$99.40
Other operating expenses		$691.20
Paid in capital in excess of par		$361.40
Preferred stock		$265.80
Prepaid advertising		$65.60
Retained earnings (beginning of year)		$613.00
Salaries expense		$1,246.20
Salaries payable		$121.20
Sales		$9,173.20
Short-term investments		$267.80
Short-term notes payable		$9.40
Supplies expense		$256.40
Treasury stock (at cost)		$228.20

Final Project - Financial Statement Preparation Instructions For your Final Project you will be creating Financial Statements based on the data given on the worksheet titled "FP Info" Instructions: The Chief Financial Officer of What SUP, Inc. has asked you to develop a workbook, that includes an entire set of Financial Statements. The end result should include an Income Statement, Statement of Retained Earnings, and Balance Sheet. Formulas The sum function is the only Excel function necessary to complete the formulas. Although if you wanted to get fancy you could use the formula as well. Assignment Submit from the FP Info a developed workbook (saved as What SUP FS) using the original data from the sheet. Hints The first task you need to accomplish is find the balance of accounts receivable. I would take all of the data given in FP Info and put the accounts in their normal balance debit or credit. Given that, you will be able to ascertain the balance of accounts receivable. Options for this solution, would include but are not limited to A) A worksheet, trial balance to balance sheet. Making a special section for the statement of retained earnings. B) Producing the financialstatements with cell references for a data table. C) Fil-in financial statements from cell references. All financial statements must be completed with cell references. A change in the data should then change the financial statements accordingly Remember this is your development, I will be grading on fitss for purpose and functionality