Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please solve it HOS 200 Assignment #2 Balance Sheet Assignment Format: Individual Assignment Due: Monday June 21st, 2021 by 9:00 a.m. EST Total Marks: 50

image text in transcribed

please solve it

HOS 200 Assignment #2 Balance Sheet Assignment Format: Individual Assignment Due: Monday June 21st, 2021 by 9:00 a.m. EST Total Marks: 50 Percentage of Term Mark: 25% Submission Method: Blackboard Using the below information as your format, use Excel to create a balance sheet for a food and beverage business. Refer to "Balance Sheet - Layout Example" PDF example for how your Excel spreadsheet should look. Formulas need to be used to determine totals, percentages, etc. The yellow highlighted areas are those you must figure out on your own. It must be done as an Excel Worksheet when you hand it in. I will be checking your formulas using a built-in auditing tool, so please ensure you're doing the work in Excel using the formulas we've discussed. Cash: Accounts Receivable: Food and Beverage Inventory: Prepaid Expenses (Insurance): Notes Receivable (from owner): $38,800.00 $780.00 $26,700.00 $4,500.00 $8,000.00 Car (2 years old bought for $30,000.00) Furniture/Fixtures (2 years old; paid $225,000.00) Equipment (2 years old; paid $250,000.00) Buildings (2 years old; paid $300,000.00) Land: (2 years old, paid $200,000.00) 3%/year 2%/year 2%/year 0.5%/year 2%/year Goodwill (to be determined) = (Total Liabilities & Capital - Total Current Assets Total Fixed Assets) Accounts payable: Sales Tax Payable: Payroll Tax Payable: Accrued Wages Payable: Short-term Bank Note Payable: Long-term Bank Note Payable: Mortgage Payable: $18,000.00 $12,000.00 $4,000.00 $12,000.00 $10,000.00 $400,000.00 $250,000.00 Owners' Equity: Retained Earnings: $250,000.00 $100,000.00 HOS 200 Assignment #2 Balance Sheet Assignment Format: Individual Assignment Due: Monday June 21st, 2021 by 9:00 a.m. EST Total Marks: 50 Percentage of Term Mark: 25% Submission Method: Blackboard Using the below information as your format, use Excel to create a balance sheet for a food and beverage business. Refer to "Balance Sheet - Layout Example" PDF example for how your Excel spreadsheet should look. Formulas need to be used to determine totals, percentages, etc. The yellow highlighted areas are those you must figure out on your own. It must be done as an Excel Worksheet when you hand it in. I will be checking your formulas using a built-in auditing tool, so please ensure you're doing the work in Excel using the formulas we've discussed. Cash: Accounts Receivable: Food and Beverage Inventory: Prepaid Expenses (Insurance): Notes Receivable (from owner): $38,800.00 $780.00 $26,700.00 $4,500.00 $8,000.00 Car (2 years old bought for $30,000.00) Furniture/Fixtures (2 years old; paid $225,000.00) Equipment (2 years old; paid $250,000.00) Buildings (2 years old; paid $300,000.00) Land: (2 years old, paid $200,000.00) 3%/year 2%/year 2%/year 0.5%/year 2%/year Goodwill (to be determined) = (Total Liabilities & Capital - Total Current Assets Total Fixed Assets) Accounts payable: Sales Tax Payable: Payroll Tax Payable: Accrued Wages Payable: Short-term Bank Note Payable: Long-term Bank Note Payable: Mortgage Payable: $18,000.00 $12,000.00 $4,000.00 $12,000.00 $10,000.00 $400,000.00 $250,000.00 Owners' Equity: Retained Earnings: $250,000.00 $100,000.00

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Software Audit Guide

Authors: John W. Helgeson

1st Edition

0873897730, 978-0873897730

More Books

Students also viewed these Accounting questions