Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

This is an Accounting II assignment. I plugged in all the numbers. I am just not sure what equations to use to find the numbers

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
This is an Accounting II assignment. I plugged in all the numbers. I am just not sure what equations to use to find the numbers for the section below. The pictures from word are documents of the directions i was given.
Paste Format Painter BIU A # Merge & Center - $ - - % 8.8 Conditional Formatas Ce Formatting Table Style Styles Clipboard TH Font Alignment F Number T10 : Xfx A B D E F G H K M N O Dec 31 2021 ? 110,000.00 80,000.00 500,000.00 Dec 31 2020 80,000.00 30,000.00 120,000.00 50,000.00 S S $ 690,000.00 $ 280,000.00 2 3 Balance Sheet - Debit balance accounts 4 Cash 5 N/R 6 Inventory 7 P.P&E 8 9 Total Assets 10 11 Balance Sheet - Credit balance accounts 12 A/P 13 N/P 14 Common Stock 15 Retained Earnings 16 17 Total Liabilities & Equity 18 19 20 21 Statement of Cash Flows 22 Operating Activities 23 24 25 26 27 75,000.00 250,000.00 200,000.00 225,000.00 100,000.00 220,000.00 200,000.00 210,000.00 S $ 750,000.00 $ 730,000.00 Ratios Current Quick ROA CH16 17 CH 18 READY a RI Type here to search w As 1 A template - Excel FORMULAS DA REVIEW VIEW B5 FILE HOME INSERT PAGE LAYOUT Calibri a Copy - Paste BTU- Format Pente Clipboard Font General F Autosum - Wrap Text A. FEMenge Center $ .% Insert Delete Format Conditional Formatas Cell Formatting Table Styles Styles Clear Sort & Fiber Editing Alignment Number Cells V26 C. D G H 1 M N o P S $ 750,000.00 5 730 000 DO 16 17 Totalbilities & Equity 18 19 20 21 Statement of Cash Is 22 Operating Activities Ratios Current Quick ROA Total What does how and ratledate you about the position of the business? Please be sei 10 leveling Activities 11 Total 33 34 Thing Activities Total 3 Net Cath F 41 CHI-7 CH 18 READY Type here to search O BI DE a x] ULI ? Calibri 111 General Wrap Text E Merge & Center - BE B I U Painter $ %, ** 828 Insert Delete F Conditional Format as Cell Formatting Table Styles Styles Font Alignment Number Cells : xfx B D E F Fixed or Variable DM, DL, OH, Or SG&A costs Expense Product or Period Depreciation expense-Office equipment Depreciation expense-Factory equipment Office utilites Insurance Factory building Maintenance expense Factory equipment Sales salaries expense Factory CFO salary Assembley Wages Raw materials used in production Rent expense Factory building Sales commissions Factory supervision Office supplies used office salaries expense Rent expense-Office space Advertising expense CH16-17 CH 18 be here to search a w O Assignment 1A(1) - Word AYOUT REFERENCES MAILINGS REVIEW VIEW Other information for 2021 is as follows: Depreciation was 30,000 Dividends paid out to shareholders totaling 25,000 Net income was 40,000 PPE purchased for 30,000 The company received 30,000 from issuing long-term notes payable Prepare the statement of cash flows for 2021 using the excel template on blackboard using only formulas (type in the balance sheet, then use formulas to fill in cash flow information). Then, calculate the ratios listed and give a brief commentary on the ratios. Numbers may be typed into the balance sheet, but only formulas should be in the cash flow and ratio sections. CH 18 Information: Use the following to complete the CH 18 tab of the excel workbook provided on Blackboard. Review the CH 18 tab of the template. Column C of the sheet contains different costs a service provider (car wash) could incur. In column D, you are to label the cost as either a product or period cost (provide the one-word answer...product or period). In column E, you are to label the cost as either fixed or variable with respect to the level of service provision (as a general rule, think if I provide zero service versus if I provide 100 units of service does the cost materially change). In column F, you are to label the cost more specifically as a direct material (DM), direct labor (DL), overhead (OH), or selling, general, and administrative (SG&A) cost. Paste Format Painter BIU A # Merge & Center - $ - - % 8.8 Conditional Formatas Ce Formatting Table Style Styles Clipboard TH Font Alignment F Number T10 : Xfx A B D E F G H K M N O Dec 31 2021 ? 110,000.00 80,000.00 500,000.00 Dec 31 2020 80,000.00 30,000.00 120,000.00 50,000.00 S S $ 690,000.00 $ 280,000.00 2 3 Balance Sheet - Debit balance accounts 4 Cash 5 N/R 6 Inventory 7 P.P&E 8 9 Total Assets 10 11 Balance Sheet - Credit balance accounts 12 A/P 13 N/P 14 Common Stock 15 Retained Earnings 16 17 Total Liabilities & Equity 18 19 20 21 Statement of Cash Flows 22 Operating Activities 23 24 25 26 27 75,000.00 250,000.00 200,000.00 225,000.00 100,000.00 220,000.00 200,000.00 210,000.00 S $ 750,000.00 $ 730,000.00 Ratios Current Quick ROA CH16 17 CH 18 READY a RI Type here to search w As 1 A template - Excel FORMULAS DA REVIEW VIEW B5 FILE HOME INSERT PAGE LAYOUT Calibri a Copy - Paste BTU- Format Pente Clipboard Font General F Autosum - Wrap Text A. FEMenge Center $ .% Insert Delete Format Conditional Formatas Cell Formatting Table Styles Styles Clear Sort & Fiber Editing Alignment Number Cells V26 C. D G H 1 M N o P S $ 750,000.00 5 730 000 DO 16 17 Totalbilities & Equity 18 19 20 21 Statement of Cash Is 22 Operating Activities Ratios Current Quick ROA Total What does how and ratledate you about the position of the business? Please be sei 10 leveling Activities 11 Total 33 34 Thing Activities Total 3 Net Cath F 41 CHI-7 CH 18 READY Type here to search O BI DE a x] ULI ? Calibri 111 General Wrap Text E Merge & Center - BE B I U Painter $ %, ** 828 Insert Delete F Conditional Format as Cell Formatting Table Styles Styles Font Alignment Number Cells : xfx B D E F Fixed or Variable DM, DL, OH, Or SG&A costs Expense Product or Period Depreciation expense-Office equipment Depreciation expense-Factory equipment Office utilites Insurance Factory building Maintenance expense Factory equipment Sales salaries expense Factory CFO salary Assembley Wages Raw materials used in production Rent expense Factory building Sales commissions Factory supervision Office supplies used office salaries expense Rent expense-Office space Advertising expense CH16-17 CH 18 be here to search a w O Assignment 1A(1) - Word AYOUT REFERENCES MAILINGS REVIEW VIEW Other information for 2021 is as follows: Depreciation was 30,000 Dividends paid out to shareholders totaling 25,000 Net income was 40,000 PPE purchased for 30,000 The company received 30,000 from issuing long-term notes payable Prepare the statement of cash flows for 2021 using the excel template on blackboard using only formulas (type in the balance sheet, then use formulas to fill in cash flow information). Then, calculate the ratios listed and give a brief commentary on the ratios. Numbers may be typed into the balance sheet, but only formulas should be in the cash flow and ratio sections. CH 18 Information: Use the following to complete the CH 18 tab of the excel workbook provided on Blackboard. Review the CH 18 tab of the template. Column C of the sheet contains different costs a service provider (car wash) could incur. In column D, you are to label the cost as either a product or period cost (provide the one-word answer...product or period). In column E, you are to label the cost as either fixed or variable with respect to the level of service provision (as a general rule, think if I provide zero service versus if I provide 100 units of service does the cost materially change). In column F, you are to label the cost more specifically as a direct material (DM), direct labor (DL), overhead (OH), or selling, general, and administrative (SG&A) cost

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Students also viewed these Accounting questions