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I am having trouble with this assignment. Can you please help me make sure I am doing this correctly? Greenco is an electrical supply company
I am having trouble with this assignment. Can you please help me make sure I am doing this correctly?
Greenco is an electrical supply company and at the end of 2014 their general ledger accounts were as follows: Greenco General Ledger Accounts 2014 Account Debit Accounts payable 12,045.00 Accumulated depreciation 458.33 Advertising expense 200.00 Business License expense 375.00 Cash 87,692.15 Common stock 20,000.00 Cost of goods sold 435.25 Depreciation expense 458.33 Dividends 9,500.00 Electrical equipment 5,000.00 Electrical supplies 1,100.00 Electrical supplies expense 49,400.00 Insurance expense 500.00 Interest expense 300.00 Interest payable Merchandise inventory 300.00 199.60 Merchandise sales revenue 612.00 Misc. expense 2035.00 Misc. supplies 50.00 Note payable Prepaid insurance Credit 10,000.00 700.00 Prepaid rent 1,500.00 Rent expense 9,000.00 Salary and wage expense 4,680.00 Salary and wage payable 480.00 Service revenue Telephone expense 129,500.00 270.00 Assumptions regarding Greenco: 1. Beginning retained earnings is zero 2. There is no income tax (yes, this is illogical, but we're trying to keep it simple) Greenco has hired you to create the following documents in proper format for them: 1. 2. 3. 4. Adjusted trial balance Balance Sheet Income Statement Statement of Retained Earnings In addition to the above mentioned documents you need to complete: 1. Vertical analysis of the Balance Sheet and the Income Statement 2. A one paragraph explanation on why you cannot perform a horizontal analysis of the Balance Sheet and the Income statement. 3. Ratio Analysis to include the following ratios: a. Current Ratio b. Gross Margin c. Inventory Turnover Ratio d. Quick Ratio e. Profit Margin f. Working Capital Ratio You must complete all of this in Excel. To have the opportunity to receive full credit for the above work, you must complete at a minimum the following: 1. Label each worksheet 2. Link all of the worksheets together 3. Use formulas. You will not receive credit for just inputting the numbers, where formulas are needed. 4. For this problem you will NOT print the document as I will print your document myself when I am grading them. Make sure your document will print as required in the problem. To verify this you can click on print preview. Once you are satisfied with your documents save the file on your computer. Submit only one file for grading, with each problem on a separate tab within the file. Submitting more than one file will result in a loss of 10% of the earned point valueStep by Step Solution
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