FSA - Assignment 1
The balance sheet of DCC Corp., as of the end of Quarter 2, is provided below.
BS
		Assets		Liab. & Owners Equity
	Cash		$11,300	Accounts payable		$500
	A/R		$1,000
	Inventory			Long-term debt		$8,000
	parts		$600	Common Stock		$4,000
	finished goods		$6,000	($2 par value)
				Paid-in-surplus		$5,000
				Retained Earnings		$1,400
	Total Assets		$18,900	Liab. & Owners Equity		$18,900
During Quarter 3:
	DCC purchased $3500 worth of parts, $1800 with cash, the remainder to be paid in Quarter 4.
	Sold 6 computers, each for $750.
	4 were sold for cash, 2 were sold on credit with payment to be received in Quarter 4.
	The gross margin was 34%
	Annual interest rate on LTD is 3.5%. Interest is paid and expensed quarterly.
	SG&A expenses = $500 were paid in Quarter 3
	The tax rate is 35% and Quarter 3 taxes will be paid in Quarter 4
	The dividend payout ratio (dividends/Net Income) is 28% (paid immediately)
	200 new shares of common stock were issued and sold for $1200 in Quarter 3
	Purchase the warehouse DCC is located in for $20,000 cash on the first day of Quarter 3
	$10,000 long-term debt was issued on the first day of Quarter 3.
	The warehouse will be depreciated over 20 years. Depreciation is expensed quarterly.
Create journal entries for Quarter 3 transactions, and the Quarter 3 ending balance sheet.
(Hint: you will need to create the income statement.)
Create a SCF for Quarter 3.
Round up the numbers - no decimal points