This project is worth a total of 80 points distributed as follows:

Assignment #1 10 points

Assignment #2 10 points

Assignment #3 15 points

Assignment #4 20 points

Assignment #5 25 points

Each assignment provides a list of accounts in alphabetical order and amounts

which are normal balances. You must determine whether the amounts are a

debit or credit. And you must decide the proper format for the given information

as per the instructions for each assignment (attached).

This project requires you to produce financial statements in good form. Since

there is no template for you to follow, you may use a word processor,

spreadsheet, or pencil and paper to produce these statements. Please email your

solutions as attachments (in PDF format) to me via Yahoo or Canvas by the due

date. You may use any resources of your choice to complete this assignment. If

you choose to use pencil and paper to produce the statements, please scan your

solutions into a JPEG file(s) that can be sent via email.

Late submissions are subject to a 10% reduction in points.

Page 2 of 8

FINANCIAL STATEMENT PROJECT

ASSIGNMENT #1

10 points

Below is the trial balance of Cookie's Company on December 31, 2015. The accounts

are listed in alphabetical order and all accounts have normal balances.

Account Title Balance

Accounts Payable 8,000

Accounts Receivable 7,200

Advertising Expense 500

Building 20,000

Cash 6,800

Common Stock 15,000

Dividends Declared 1,100

Equipment 18,000

Insurance Expense 400

Land 8,000

Lesson Revenue 10,600

Notes Payable 30,000

Prepaid Insurance 1,400

Rent Expense 1,200

Repair Expense 300

Retained Earnings 4,000

Salaries Expense 2,200

Salaries Payable 200

Supplies 800

Supplies Expense 500

Unearned Lesson Revenue 600

REQUIRED:

Prepare the financial statements for the year for Cookie's Company in proper form

an income statement,

a statement of retained earnings, and

a balance sheet .

Reminder: Title each statement appropriately.

Page 3 of 8

FINANCIAL STATEMENT PROJECT

ASSIGNMENT #2

10 points

Below is the trial balance of Cosmo Company on December 31, 2015. The accounts are

listed in alphabetical order, and all accounts have normal balances.

Account Title: Balance

Accounts Payable 2,700

Accounts Receivable 3,700

Accum. Depr. - Buildings 22,600

Accum. Depr. - Equipment 15,600

Advertising Expense 4,400

Buildings 24,000

Cash 9,400

Common Stock 500

Depreciation Expense 3,400

Dividends Declared 6,000

Equipment 18,500

Insurance Expense 2,400

Interest Expense 400

Interest Payable 100

Land 6,000

Landscaping Revenue 11,600

Maintenance Revenue 28,300

Notes Payable (10-year) 15,000

Notes Payable (60-day) 2,500

Prepaid Insurance 600

Retained Earnings 200

Salaries Expense 18,200

Salaries Payable 2,600

Supplies 4,100

Supplies Expense 3,800

Unearned Maintenance Revenue 4,000

Utilities Expense 800

REQUIRED:

Prepare the financial statements for the year for Cosmo Company--an income

statement, a statement of retained earnings, and a classified balance sheet.

Page 4 of 8

FINANCIAL STATEMENT PROJECT

ASSIGNMENT #3

15 points

Below is the trial balance of Fantasy Company on December 31, 2015. The accounts

are listed in alphabetical order and all accounts have normal balances.

Account Title Balance

Accounts Payable 990

Accounts Receivable 735

Accum. Depr. - Buildings 9,300

Accum. Depr. - Equip. 2,200

Administrative Expenses 1,310

Buildings 35,000

Cash 1,350

Common Stock 15,000

Cost of Goods Sold 4,732

Dividends Declared 450

Equipment 9,500

Interest Expense 188

Interest Payable 120

Land 5,000

Long-Term Notes Payable 18,000

Merchandise Inventory 690

Miscellaneous Revenues 110

Prepaid Insurance 110

Retained Earnings 7,000

Salaries Payable 220

Sales 10,600

Sales Discounts 950

Sales Returns & Allowances 1,200

Selling Expenses 1,870

Supplies 455

REQUIRED:

Prepare the financial statements for the year for Fantasy Company--a multi-step

income statement, a statement of retained earnings and a classified balance sheet.

Page 5 of 8

FINANCIAL STATEMENT PROJECT

ASSIGNMENT #4

20 points

Below is the trial balance of Boss Corporation on December 31, 2015. The accounts are

listed in alphabetical order, and all accounts have normal balances.

Account Title Balance

Accounts Payable 22

Accounts Receivable 65

Accum. Amort. - Patents 45

Accum. Depl. - Oil Reserve 210

Accum. Depr. - Buildings 120

Accum. Depr. - Equip. 90

Administrative Expenses 840

Allowance for Bad Debts 15

APIC-Common 180

APIC-Preferred 50

APIC-Treasury 20

Buildings 640

Prepaid Insurance 26

Cash 99

Retained Earnings 158

Cash Dividends Declared 50

Common Stock 300

Common Stock Dividend Distributable 20

Cost of Goods Sold 2,110

Dividends Payable 30

Equipment 440

FICA Taxes Payable 20

FUTA Taxes Payable 4

Income Tax Expense 170

Interest Expense 30

Interest Payable 5

Interest Receivable 3

Interest Revenue 6

Land 250

Long-Term Notes Payable 100

Loss on Plant Asset Disposal 15

Merchandise Inventory 44

Miscellaneous Revenues 10

Notes Receivable (3 month) 90

Oil Reserve 800

Patent 120

Preferred Stock 150

Page 6 of 8

Salaries Payable 13

Sales 6,480

Sales Discounts 400

Sales Returns & Allowances 800

Selling Expenses 950

Short-Term Notes Payable 18

Stock Dividends Declared 35

Supplies 18

SUTA Taxes Payable 9

Treasury Stock 80

REQUIRED:

Prepare the financial statements for the year for Boss Corporation--a multi-step income

statement, a statement of retained earnings, and a classified balance sheet.

Hint: APIC = additional paid in capital

Page 7 of 8

FINANCIAL STATEMENT PROJECT

ASSIGNMENT #5

25 points

Below is the trial balance of Stellar Corporation on December 31, 2015. The accounts

are listed

in alphabetical order, and all accounts have normal balances.

Account Title: Balance

Accounts Payable 110

Accounts Receivable 360

Accum. Amort. - Copyright 40

Accum. Amort. - Patent 20

Accum. Depl. - Gold Mine 80

Accum. Depr. - Buildings 300

Accum. Depr. - Equip. 220

Adjustment to Market-AFS Sec (debit balance) 35

Administrative Expenses 950

Allowance for Bad Debts 50

APIC-Common 220

APIC-Preferred 80

APIC-Treasury 90 Notes Receivable (short-term) 70

Available for Sale Securities (short-term) 440

Bonds Payable (15 year) 650

Buildings 1,200

Cash 520

Cash Dividends Declared 240

Common Stock 800

Common Stock Dividend Distributable 120

Copyright 60

Cost of Goods Sold 4,014

Discount on Bonds Payable 140

Dividend Revenue 20

Dividends Payable 130

Equipment 740

FICA Taxes 140

FUTA Taxes Payable 20

Gain on Disposal of Plant Assets 40

Gold Mine 550

Income Tax Expense 420

Income Tax Payable 190

Interest Expense 45

Interest Payable 25

Interest Receivable 4

Interest Revenue 10

Page 8 of 8

Investment Income 620

Land 360

Long-Term Investment in Subsidiary 2,760

Loss on Sale of AFS Sec. 15

Merchandise Inventory 280

Mortgage Note Payable (30-year) 390

Notes Receivable (short term) 70

Patent 95

Preferred Stock 400

Prepaid Insurance 110

Rental Revenue 380

Retained Earnings (Beg Bal) 625

Salaries Payable 300

Sales 9,860

Sales Discounts 200

Sales Returns & Allowances 740

Selling Expenses 1,400

Short-Term Notes Payable 140

Stock Dividends Declared 180

Supplies 80

SUTA Taxes Payable 60

Treasury Stock 175

Unealized Gain on Valuation of AFS 35

Unearned Rental Revenue 18

REQUIRED:

Prepare the financial statements for the year for Stellar Corporation--a multi-step

income statement, a statement of retained earnings, and a classified balance sheet.