Please make sure all tabs of the excel file are answered!!!

You should begin working on elements of the Final Project in Week One. Each week, there is a recommended learning activity associated with helping you complete the Final Project. There are ungraded and graded practice exercises, which will allow you to practice applying accounting skills learned in class to different scenarios. Work through the problems, starting with Chapter 1, following the instructions in the textbook and Excel template.

Download and open the Excel fileBUS591 Final Project Template.Review the instructions presented on the Instructions Tab in the Workbook and the weekly recommended learning activity. If you complete each part as recommended, you will have the complete Final Project finished by Week Six. Chapters 1, 2 and 3 are ungraded practice problems, while Chapters 4 and 13 are graded problems. Take your time and complete all requirements. Also, if you complete the practice problems from Chapter 3, completing the graded portion from Chapter 4 will be much easier.

Do not work ahead unless you read the corresponding chapters. For example, read Chapters 3 and 4 before completing the Continuing Cookie Chronicle problems from those chapters.

Carefully review theGrading Rubric(Links to an external site.)

Links to an external site.

for the criteria that will be used to evaluate your assignment.

Final Project Instructions and Templates Name: ___________________________________ Final Project Due by Day 7 of Week 6 This project is worth _20_ points MAKE SURE TO COMPLETE ALL GRADED REQUIREMENTS LISTED BELOW. It is recommended that you complete the non-graded requirements for additional practice All of the templates you need for the project are located in this Workbook. The instructions and data for the problem is in your Textbook (the "Continuing Cookie Chronicle" at the end of the chapter). Use the arrow buttons (lower left corner of the window) to navigate through the tabs. Submit the ENTIRE Workbook (file) to your instructor for the Week 6 Final Project Requirements Week One Chapter 1 and 2 "Continuing Cookie Chronicle" - Review the problem and make notes of your answers. Week Two Chapter 3, Part A, prepare journal entries to record the November transactions Chapter 3, Part B, post the journal entries to the general ledger accounts Chapter 3, Part C, prepare a trial balance at November 30, 2017 Week Three Chapter 4, Part A, Journalize the transactions Chapter 4, Part B, Post the December transactions to the general ledger accounts Chapter 4, Part C, Prepare a trial balance at December 31, 2017 Chapter 4, Part D, Prepare and post adjusting journal entries for the month of December Chapter 4, Part E, Prepare an adjusted trial balance as of December 31, 2017 Chapter 4, Part F, Prepare an income statement and a retained earnings statement for the 2-month period ending December 31, 2017, and classified balance sheet as of December 31, 2017 Chapter 4, Part G, Prepare and post closing entries as of December 31, 2017 Chapter 4, Part H, Prepare a post-closing trial balance Week Six Chapter 13 - Part A, Prepare a horizontal and vertical analysis of the income statement for Cookie & Coffee Creations Inc. Chapter 13 - Part B, Calculate several financial ratios as indicated Sheet in Workbook Chapter 1 & 2 Notes (PRACTICE) Journal Entries General Ledger Trial Balance (PRACTICE) (PRACTICE) (PRACTICE) Journal Entries General Ledger Trial Balance Adjusting Entries Adjusted Trial Balance (GRADED) (GRADED) (GRADED) (GRADED) (GRADED) Financial Statements Closing Entries Post Closing TB (GRADED) (GRADED) (GRADED) Horiz. & Vert. Analysis Financial Ratios (GRADED) (GRADED) Make any notes from Chapters 1 or 2 here. NOTE: These notes will NOT be included in your grade for the project. They are for your own reference. or your own reference. Use the following template for the journal entries from Chapter 3: Continuing Cookie Chronicle. NOTE: This is for your practice only - it will NOT be graded (solutions are found on the last tab marked "Solutions"). a) Prepare journal entries to record the November transactions Date General Journal Description(Account Name) Debit Credit nicle. ab marked "Solutions"). This sheet will be used for Part B of Chapter 3. NOTE: This is for your practice only - it will NOT be graded (solutions are found on the last tab marked "Solutions b) Post the journal entries to the following general ledger accounts and compute the account balances Cash Equipment Accounts Receivable Website Accounts Payable Supplies Unearned Service Revenue Prepaid Insurance Notes Payable Common Stock Servcice Revenue Utilities Expense e found on the last tab marked "Solutions") d compute the account balances Equipment Website Supplies Prepaid Insurance Common Stock Utilities Expense Part C (Chapter 3) c) Prepare a trial balance for November 30, 2014 NOTE: This is for your practice only - it will NOT be graded (solutions are found on the last tab marked "Solutions Cookie Creations, Inc. Trial Balance November 30, 2017 Debit Total Credit 3,910 3,910 *Remember debits MUST equal credits - if they do not, then there is an error somewhere. Double-check your calc tab marked "Solutions") Double-check your calculations and entries. Use the following template for the journal entries from Chapter 4: Continuing Cookie Chronicle. a) Prepare journal entries to record the December transactions. NOTE: This sheet WILL be graded when you submit your assignment. Date General Journal Description (Account Name) Debit Credit This sheet will be used for Part B of Chapter 3. REQUIREMENT #2: Post the journal entries to the following general ledger accounts and compute the account balances. NOTE: This sheet WILL be graded when you submit your assignment. Cash Dividends Accounts Receivable Income Summary Service Revenue Supplies Utilities Expense Prepaid Insurance Salaries & Wages Expense Equipment Accumulated Depreciation Equipment Website Insurance Expense Interest Expense Accounts Payable Depreciation Expense Interest Payable Notes Payable Common Stock Salaries & Wages Payable ompute the account balances. Dividends Unearned Service Revenue Retained Earnings Income Summary Supplies Expense Amortization Expense Supplies Prepaid Insurance Equipment Website Interest Expense Depreciation Expense Notes Payable laries & Wages Payable Retained Earnings Amortization Expense Part C (Chapter 4) NOTE: This sheet WILL be graded when you submit your assignment. c) Prepare a trial balance for December 31, 2017 Cookie Creations, Inc. Trial Balance December 31, 2017 Debit Total Credit 0 0 *Remember debits MUST equal credits - if they do not, then there is an error somewhere. Double-check your calc Double-check your calculations and entries. Chapter 4, Part D: Prepare and post adjusting entries for December. NOTE: This part WILL be graded when you submit your assignment to the instructor. Date General Journal Description (Account Name) Debit Credit Chapter 4, Part E: Prepare an adjusted trial balance. Note: This part WILL be graded when you submit your assignment to the instructor. Cookie Creations Inc Adjusted Trial Balance December 31, 2017 0 0 *Remember debits MUST equal credits - if they do not, then there is an error somewhere. Double-check your calcula omewhere. Double-check your calculations and entries. Chapter 4, Part F: Prepare financial statement. Note: This part WILL be graded when you submit your assignment to the instructor. You will only be preparing the income statement, statement of retained earning and the balance sheet. Cookie Creations, Inc. Income Statement For the Month Ending December 31, 2017 Revenues: Retained Earnings, December 1 Add: Net Income Subtotal Less: Dividends Retained Earnings, December 31 Operating Expenses: Total Operating Expenses Net Income Cookie Creations Statement of Retained Earnings For the Month Ending December 31, 2017 0 $ - *Remember, assets and liabilities MUST be the same amount. If they are different, then there is an error somew the balance sheet. Cookie Creations Balance Sheet December 31, 2017 Current Assets Total Current Assets Property, Plant & Equipment 0 Intangible Assets Total Assets 0 Liabilities & Stockholder's Equity Total Current Liabilities Long- Term Liabilities 0 Total Liabilities Stockholder's Equity 0 Total Stockholder's Equity Total Liabilities & Stockholder's Equity 0 - n there is an error somewhere. Double-check your calculations and entries. $ Chapter 4 - Part G: Prepare closing entries. Note: This part WILL be graded when you submit your assignment to the instructor. Hint: Use the balances for each account which appear on the adjusted trial balance for your closing entries. Date General Journal Description (Account Name) Debit Credit closing entries. Chapter 4 - Part H: Prepare post-closing trial balance. Note: This part WILL be graded when you submit your assignment to the instructor. Cookie Creations, Inc. Post-Closing Trial Balance December 31, 2017 Chapter 13, Part A of the Continuing Cookie Chronicle: Prepare a horizontal and vertical analysis Note: This part WILL be graded when you submit your assignment to the instructor Instructions: Prepare a horizontal analysis of the income statement for Cookie & Coffee Creations Inc. using 20 Note: Do not use the information presented on the Textbook website, it is different from what is required below COOKIE & COFFEE CREATIONS INC. Income Statement For the Year Ended October 31 Sales Cost of goods sold Gross profit Operating expenses Salaries & wages expense Depreciation expense Other operating expenses Total operating expenses Income from operations Other expenses Interest expense Loss on sale of computer equipment Total other expenses Income before income tax Income tax expense Net income 2020 $485,625 222,694 262,931 2019 $462,500 208,125 254,375 147,979 17,600 48,186 213,765 49,166 146,350 9,100 42,925 198,375 56,000 413 0 2,500 2,913 46,253 9,251 $37,002 0 0 56,000 14,000 $42,000 Horizontal Difference Analysis Prepare a vertical analysis of the income statement for Cookie & Coffee Creations for 2020 and 2019 COOKIE & COFFEE CREATIONS INC. Income Statement For the Year Ended October 31 Vertical 2020 Analysis $485,625 222,694 262,931 Sales Cost of goods sold Gross profit Operating expenses Salaries & wages expense 147,979 2019 $462,500 208,125 254,375 146,350 Vertical Analysis Depreciation expense Other operating expenses Total operating expenses Income from operations Other expenses Interest expense Loss on sale of computer equipment Total other expenses Income before income tax Income tax expense Net income 17,600 48,186 213,765 49,166 9,100 42,925 198,375 56,000 413 0 2,250 2,663 46,253 9,251 $37,002 0 0 56,000 14,000 $42,000 e Creations Inc. using 2019 as a base year (which is a continuation of the Continuing Cookie Chronicle) m what is required below. You may refer to the information within Chapter 13 (week 6) for assistance in completing this tab. 020 and 2019 e in completing this tab. Chapter 13, Part B of the Continuing Cookie Chronicle: Calculate the following financial ratios using the informatio Note: This part WILL be graded when you submit your assignment to the instructor Note: Do not use the information presented on the Textbook website, it is different from what is required below. Yo Instructions: Using the financial statements below, compute the following ratios for 2019 only: Current Ratio, Debt to total Assets, Gross Profit Rate, Profit Margin, Return on Assets, and Return on Common Stockholder's Equity. Enter your computations in the yellow boxes following the format in the example. COOKIE & COFFEE CREATIONS INC. Income Statement For the Year Ended October 31 Sales Cost of goods sold Gross profit Operating expenses Salaries & wages expense Depreciation expense Other operating expenses Total operating expenses Income from operations Other expenses Interest expense Loss on sale of computer equipment Total other expenses Income before income tax Income tax expense Net income 2020 $485,625 222,694 262,931 2019 $462,500 208,125 254,375 147,979 17,600 48,186 213,765 49,166 146,350 9,100 42,925 198,375 56,000 413 0 2,500 2,913 46,253 9,251 $37,002 0 0 56,000 14,000 $42,000 COOKIE & COFFEE CREATIONS INC. Balance Sheet October 31, 2012 Assets Cash Accounts Receivable Inventory $ 2020 2019 22,324 $ 5,550 3,250 2,710 7,897 7,450 Prepaid Expenses Equipment Accumulated depreciation Total assets $ Liabilities and Stockholders' Equity Accounts Payable Income taxes payable Salaries payable Interest payable Note payable - current portion Note payable - long-term Preferred stock, no par, $6portion cumulative - 3,000 and 2,800 shares issued, respectively Common stock, $1 par - 25,180 shares issued Additional paid-in capital - treasury stock Retained earnings Total liabilities and stockholders' equity 5,800 102,000 (25,200) 116,071 $ 9,251 27,000 7,250 188 4,000 6,000 15,000 $ 25,180 250 20,802 116,071 $ 6,050 75,500 (9,100) 88,160 7,200 27,000 1,280 0 0 0 14,000 25,180 250 13,250 88,160 tios using the information from the financial statements below. hat is required below. You may refer to the information within Chapter 13 (week 6) for assistance in completing this tab. nly: Current Ratio, Debt tockholder's Equity. EXAMPLE: Name of Ratio Ratio = Your Answers (2019): Current Ratio = = Debt to Total Assets = = Gross Profit Rate = = Profit Margin = = Return on Assets = = Return on common Stockholder's Equity = = 1,234 1,234 = NOTE: Dividends on preferred stock were $16,800 in 2019 1.00 in completing this tab. Final Project Grading Rubric - 20 points total (20% of overall course grade) Criteria Parts: Excellent 90% to 100% Good 70% to 89% Chapter 4 Part A & B - Journal Entries (4pts) Journal Entries use accurate accounts and amounts; and debits and credits are used correctly. Chapter 4 Part C - Unadjusted Trial Balance. (1pt) Posting is correct leading to Posting is mostly correct an accurate trial balance. leading to a mostly correct trial balance. Chapter 4 Part D - Adjusting Journal Entries (2pts) Journal Entries use accurate accounts and amounts; and debits and credits are used correctly. Chapter 4 Part E - Posted Adjusted Posting is correct leading to Posting is mostly correct Trial Balance. (2pts) an accurate trial balance. leading to a mostly correct trial balance. Chapter 4 Part F - Financial Statements (4pts) Chapter 4 Part G - Closing Journal Journal Entries use accurate Entries (2pts) accounts and amounts; and debits and credits are used correctly. Chapter 4 Part H- Posted and Post-closingTrial Balance. (1pt) Chapter 13 Horizontal & Vertical Analysis (2pts) All three Financial Statements are prepared accurately and in an appropriate format. Journal Entries mostly use accurate accounts and amounts; and debits and credits are used correctly. Journal Entries mostly use accurate accounts and amounts; and debits and credits are used correctly. Two of three Financial Statements are prepared accurately and mostly in an appropriate format, one statement has some errors. Journal Entries mostly use accurate accounts and amounts; and debits and credits are used correctly. Posting is correct leading to Posting is mostly correct an accurate trial balance. leading to a mostly correct trial balance. Horizontal and Vertical analysis is 90% to 100% correct Horizontal and Vertical analysis is 70% to 89% correct Chapter 13 Financial Ratios (2pts) All ratios are properly calculated with none or only Most of the ratios are one ratio being incorrect. properly calcluated with only two or three ratios being incorrect. Poor 50% to 69% Journal Entries have some errors in use of accounts and amounts; and debits and credits are only somewhat used correctly. Very Poor Less than 50% Journal Entries have some errors in use of accounts and amounts; and debits and credits are not used correctly. Posting has several errors Posting is done poorly or not at all, leading to a trial balance with leading to inaccurate or no trial several errors. balance. Journal Entries have some errors in use of accounts and amounts; and debits and credits are only somewhat used correctly. Journal Entries have some errors in use of accounts and amounts; and debits and credits are not used correctly. Posting has several errors Posting is done poorly or not at all, leading to a trial balance with leading to inaccurate or no trial several errors. balance. One of three Financial One or fewer of three Financial Statements are prepared Statements are prepared accurately accurately and mostly in an and mostly in an appropriate format, appropriate format, two three or all statements have some statements have some errors. errors. Journal Entries have some errors in use of accounts and amounts; and debits and credits are only somewhat used correctly. Journal Entries have some errors in use of accounts and amounts; and debits and credits are not used correctly. Posting has several errors Posting is done poorly or not at all, leading to a trial balance with leading to inaccurate or no trial several errors. balance. Horizontal and Vertical analysis is 50% to 69% correct There are three or four errors in the calculation of financial ratios Horizontal and Vertical analysis has less than 50% correct answers. There are more than four errors in the calculation of the financial ratios. Solutions for the Practice Exercise (From Chapter 3 of Continuing Cookie Chronicles) kbliss: Solutions Why is Solutions written twice? a) Prepare journal entries to record the December transactions. Date General Journal Description (Account Name) Nov. 8 No journal entry required Nov 8. No journal entry required Nov. 8 Cash Common Stock Nov. 11 Nov. 14 Nov. 15 Nov. 16 Nov. 17 500 Supplies Cash 125 Equipment Common Stock 300 Cash Notes Payable Equipment Cash Nov. 25 Cash Unearned Service Revenue Nov. 30 500 95 No journal entry required Nov. 30 Credit Supplies Cash Nov. 18 Nov. 29 Debit 95 125 300 2,000 2,000 900 900 60 60 Cash Service Revenue 100 Website Accounts Payable 600 Prepaid Insurance 100 600 1,200 Cash Nov. 30 Nov. 30 1,200 Accounts Receivable Servcie Revenue 300 Utilities Expense Accounts Payable 50 Total 300 50 6,230 6,230 This sheet will be used for Part B of Chapter 3. Solutions Post the journal entries to the following general ledger accounts and compute the account balances. Cash Nov. 8 500 Nov. 11 Nov. 16 2,000 Nov. 14 Nov. 25 60 Nov. 17 Nov. 29 100 Nov. 30 Nov. 30 Bal. 340 95 125 900 1,200 Accounts Receivable Nov. 30 300 Nov. 30 Bal. 300 Accounts Payable Nov. 30 600 Nov. 30 50 Nov. 30. Bal 650 Unearned Service Revenue Nov. 25 60 Nov. 30. Bal. 60 Equipment Nov. 15 300 Nov. 17 900 Nov. 30 Bal 1,200 Website Nov. 30 600 Nov. 30 Bal. 600 Supplies Nov. 11 95 Nov. 11 125 Nov. 30 Bal 220 Prepaid Insurance Nov. 30 1,200 Nov. 30 Bal. 1,200 Notes Payable Nov. 16 2,000 Nov. 30. Bal. 2,000 Service Revenue Nov. 29 100 Nov. 30 300 Nov. 30 Bal. 400 Common Stock Nov. 8 500 Nov. 15 300 Nov. 30. Bal 800 Utilities Expense Nov. 30 50 Nov. 30 Bal. 50 ute the account balances. 30. Bal 800 Part C (Chapter 3) Solutions Prepare a trial balance for November 30, 2014. Cookie Creations, Inc. Trial Balance November 30, 2014 Debit Cash Accounts Receivable Supplies Prepaid Insurance Equipment Website Accounts Payable Unearned Service Revenue Notes Payable Common Stock Service Revenue Utilities Expense Total *Note that debits equal credits. $ Credit 340 300 220 1,200 1,200 600 $ $ 50 3,910 $ 650 60 2,000 800 400 3,910