hello i need help with both parts of this practice set for accounting.part one is due monday and i really dont know how to star this is what he gave us to work with. i posted this last night but for some reason i cant comment back tho those who asked me to propvide more info about it
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CCOUNTING OCIETY The Business This practice set is designed in two parts. The first part provides a review of the financial statements of a corporation sel ing mini sports balls. Slam, Dunk, Score Inc.s primary operation is the of mini sports balls with their logos on the balls. A financial analysis and Statement of Cash Flow will be required. In the second partSlam, Dunk, Score Inc. decides to start producing the sports balls and selling them directly on the Internet All cases of academic dishonesty will be reported to the Office of Student Life. Part One Instructions The financial information for the past two years (2015 and 2016) is provided. Using a spreadsheet application, such as Microsoft Excel, and the information from the previous years, provide the following Prepare statement Cash Flows the year a of for current using the indirect method. 2. Using horizontal analysis, prepare a comparative Balance Sheet Income Statement. 3. Using vertical analysis, prepare an 4. Using the textbook, calculate the ratios set out below: a. Current ratio both years b. Quick ratio both years c. Accounts Receivable Turnover 2016 d, Number of Days Sales in Receivables 2016 e. Inventory turnover 2016 f. Number of Days sales in Inventory 2016 g. Ratio of liabilities to Stockholders' Equity 2016 h. Rate earned on Total Assets 2016 i. Rate earned on Stockholders' Equity 2016 j. Earnings Per Share 2015 and 2016 The financial statements provided in this practice set can also be downloaded from Blackboard. An example of a statement of Cash Flow has been provided at the end of the Practice SetDownload the Excel files (Income Statement and Balance Sheet) from Blackboard and add a column and calculate the ratios for the vertical and horizontal analysis. 5. Acting as an accounting advisor to the firm, prepare a memo in which you analyze the financial statements you prepared in step two and prepare an analysis of the company's financial position. Identify two strengths and two weaknesses in the company. Make two recommendations to improve the company's financial position. Be specific in each of the recommendations and use the ratios to support your analysis. The length should be no more than one page. 2 | P a ge CCOUNTING OCIETY The Business This practice set is designed in two parts. The first part provides a review of the financial statements of a corporation sel ing mini sports balls. Slam, Dunk, Score Inc.s primary operation is the of mini sports balls with their logos on the balls. A financial analysis and Statement of Cash Flow will be required. In the second partSlam, Dunk, Score Inc. decides to start producing the sports balls and selling them directly on the Internet All cases of academic dishonesty will be reported to the Office of Student Life. Part One Instructions The financial information for the past two years (2015 and 2016) is provided. Using a spreadsheet application, such as Microsoft Excel, and the information from the previous years, provide the following Prepare statement Cash Flows the year a of for current using the indirect method. 2. Using horizontal analysis, prepare a comparative Balance Sheet Income Statement. 3. Using vertical analysis, prepare an 4. Using the textbook, calculate the ratios set out below: a. Current ratio both years b. Quick ratio both years c. Accounts Receivable Turnover 2016 d, Number of Days Sales in Receivables 2016 e. Inventory turnover 2016 f. Number of Days sales in Inventory 2016 g. Ratio of liabilities to Stockholders' Equity 2016 h. Rate earned on Total Assets 2016 i. Rate earned on Stockholders' Equity 2016 j. Earnings Per Share 2015 and 2016 The financial statements provided in this practice set can also be downloaded from Blackboard. An example of a statement of Cash Flow has been provided at the end of the Practice SetDownload the Excel files (Income Statement and Balance Sheet) from Blackboard and add a column and calculate the ratios for the vertical and horizontal analysis. 5. Acting as an accounting advisor to the firm, prepare a memo in which you analyze the financial statements you prepared in step two and prepare an analysis of the company's financial position. Identify two strengths and two weaknesses in the company. Make two recommendations to improve the company's financial position. Be specific in each of the recommendations and use the ratios to support your analysis. The length should be no more than one page. 2 | P a ge
