Attachment # 00005205 - BUS_591_Final_Project_template.xlsx
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Chapter 4Trial BalancePost-Closing Trial BalancePosting is done poorly or not at all, leading to inaccurate or no trial balance.Posting has several errors leading to a trial balance with several errors.Posting is mostly correct leading to a mostly correct trial balance.Posting is correct leading to an accurate trial balance.REQUIREMENT #1:General JournalDateDebitCreditREQUIREMENT #2:Description(Account Name)Adjusted Trial BalanceIncome StatementStatement of Retained EarningsBalance SheetDescription (Account Name)Net IncomeAdd: Net IncomeSubtotalLess: DividendsParts:Very PoorPoorGoodExcellentCriteriaRequirementsSheet in WorkbookName: ___________________________________Less than 50%90% to 100%Make any notes from Chapters 1 or 2 here.70% to 89%50% to 69%Revenues:Part A & B - Journal Entries (4pts)Part C - Unadjusted Trial Balance. (1pt)Part D - Adjusting Journal Entries (2pts)Part E - Posted Adjusted Trial Balance. (2pts)Part F - Financial Statements (4pts)Part G - Closing Journal Entries (2pts)Part H- Posted and Post-closingTrial Balance. (1pt)Chapter 13Column1Column2Final ProjectMAKE SURE TO COMPLETE ALL GRADED REQUIREMENTS LISTED BELOW.Journal Entries (PRACTICE)General Ledger (PRACTICE)Trial Balance (PRACTICE)Chapter 1 & 2 Notes (PRACTICE)a) Prepare journal entries to record the November transactionsCashEquipmentAccounts ReceivableWebsiteAccounts PayableSuppliesUnearned Service Revenue Prepaid InsuranceNotes PayableCommon StockServcice RevenueUtilities ExpenseNOTE: This is for your practice only - it will NOT be graded (solutions are found on the last tab marked "Solutions")DividendsRetained EarningsIncome SummarySupplies ExpenseAmortization ExpenseService RevenueSalaries & Wages ExpenseAccumulated Depreciation EquipmentInsurance ExpenseInterest ExpenseDepreciation ExpenseInterest PayableSalaries & Wages PayablePart C (Chapter 3)Cookie Creations, Inc.TotalNOTE: This is for your practice only - it will NOT be graded (solutions are found on the last tab marked "Solutions")Part C (Chapter 4)Cookie Creations IncCookie CreationsCurrent AssetsOperating Expenses:Retained Earnings, December 31 Total Current AssetsProperty, Plant & EquipmentIntangible Assets Total Operating Expenses Total AssetsLiabilities & Stockholder's Equity Total Current LiabilitiesLong- Term Liabilities Total Liabilities Stockholder's Equity Total Stockholder's EquityTotal Liabilities & Stockholder's EquitySolutionsNov. 8 500Nov. 11 95Nov. 15 300Nov. 16 2,000Nov. 14 125Nov. 17 900Nov. 25 60Nov. 30 Bal 1,200Nov. 29 100Nov. 30 1,200Nov. 30 Bal. 340Nov. 30 300Nov. 30 600Nov. 30 Bal. 300Nov. 30 Bal. 600Nov. 30 50Nov. 11 125Nov. 30. Bal 650Nov. 30 Bal 220Nov. 30. Bal. 60Nov. 30 Bal. 1,200Nov. 30. Bal. 2,000Nov. 30. Bal 800Nov. 30 Bal. 50Nov. 30 Bal. 400Website Unearned Service RevenueNov. 8No journal entry requiredNov 8. Common StockNov. 11 CashNov. 14Nov. 15Nov. 16 Notes PayableNov. 17Nov. 18Nov. 25 Unearned Service Revenue Nov. 29 Service Revenue Nov. 30 Accounts Payable Servcie RevenueWeek TwoWeek ThreeWeek OneFinal Project Instructions and TemplatesNOTE: These notes will NOT be included in your grade for the project. They are for 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").This sheet will be used for Part B of Chapter 3.*Remember debits MUST equal credits - if they do not, then there is an error somewhere. Double-check your calculations and entries.Use the following template for the journal entries from Chapter 4: Continuing Cookie Chronicle.NOTE: This sheet WILL be graded when you submit your assignment.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.*Remember debits MUST equal credits - if they do not, then there is an error somewhere. 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.Chapter 4, Part E: Prepare an adjusted trial balance.Note: This part WILL be graded when you submit your assignment to the instructor.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.*Remember, assets and liabilities MUST be the same amount. If they are different, then 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.Chapter 4 - Part H: Prepare post-closing trial balance.Note: This part WILL be graded when you submit your assignment to the instructor.Solutions for the Practice Exercise (From Chapter 3 of Continuing Cookie Chronicles)*Note that debits equal credits.a) Prepare journal entries to record the December transactions.December 31, 2014For the Month Ending December 31, 2014b) Post the journal entries to the following general ledger accounts and compute the account balancesc) Prepare a trial balance for November 30, 2014November 30, 2014c) Prepare a trial balance for December 31, 2014.Prepare a trial balance for November 30, 2014.Chapter 13, Part A of the Continuing Cookie Chronicle: Prepare a horizontal and vertical analysisNote: This part WILL be graded when you submit your assignment to the instructorInstructions: Prepare a horizontal analysis of the income statement for Cookie & Coffee Creations Inc. using 2013 as a base year (which is a continuation of the Continuing Cookie Chronicle)Note: Do not use the information presented on the Textbook website, it is different from what is required below. You may refer to the information within Chapter 13 (week 6) for assistance in completing this tab.COOKIE & COFFEE CREATIONS INC.For the Year Ended October 31HorizontalDifferenceAnalysisSalesCost of goods soldGross profitOperating expenses Salaries & wages expense Depreciation expense Other operating expenses Total operating expensesIncome from operationsOther expenses Interest expense Loss on sale of computer equipment Total other expensesIncome before income taxIncome tax expenseNet incomePrepare a vertical analysis of the income statement for Cookie & Coffee Creations for 2014 and 2013VerticalChapter 13, Part B of the Continuing Cookie Chronicle: Calculate the following financial ratios using the information from the financial statements below.Note: This part WILL be graded when you submit your assignment to the instructorNote: Do not use the information presented on the Textbook website, it is different from what is required below. You may refer to the information within Chapter 13 (week 6) for assistance in completing this tab.Instructions: Using the financial statements below, compute the following ratios for 2014 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.EXAMPLE:Name of Ratio=RatioYour Answers (2014):CurrentDebt toTotal AssetsGross ProfitRateProfitMarginReturn onAssets Return on commonStockholder's EquityNOTE: Dividends on preferred stock were $18,000 in 2014Balance SheetAssetsCashAccounts ReceivableInventoryPrepaid ExpensesEquipmentAccumulated depreciation Total assetsLiabilities and Stockholders' EquityAccounts PayableIncome taxes payableSalaries payableInterest payableNote payable - current portionNote payable - long-term portionPreferred stock, no par, $6 cumulative - 3,000 and 2,800 shares issued, respectivelyCommon stock, $1 par - 25,180 shares issuedAdditional paid-in capital - treasury stockRetained earningsTotal liabilities and stockholders' equityDue by Day 7 of Week 6This project is worth _20_ pointsIt is recommended that you complete the non-graded requirements for additional practiceAll 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 ProjectChapter 1 and 2 "Continuing Cookie Chronicle" - Review the problem and make notes of your answers. Chapter 3, Part A, prepare journal entries to record the November transactionsChapter 3, Part B, post the journal entries to the general ledger accountsChapter 3, Part C, prepare a trial balance at November 30, 2014Chapter 4, Part A, journalize the transactions Journal Entries (GRADED)Chapter 4, Part B, post the December transactions to the general ledger accounts General Ledger (GRADED)Chapter 4, Part C, prepare a trial balance at December 31, 2014Trial Balance (GRADED)Chapter 4, Part D, prepare and post adjusting journal entries for December Adjusting Entries (GRADED)Chapter 4, Part E, prepare adjusted trial balance at December 31, 2014Adjusted Trial Balance (GRADED)Chapter 4, Part F, prepare an income statement, retained earning statement and balance sheetFinancial Statements (GRADED)Chapter 4, Part G, prepare and post closing entires as of December 31, 2014Closing Entries (GRADED)Chapter 4, Part H, prepare a post-closing trial balance Post Closing TB (GRADED)Chapter 13 - Part A, prepare a horizontal and vertical analysis Horiz. & Vert. Analysis (GRADED)Chapter 13 - Part B, Calculate several financial ratios as indicatedFinancial Ratios (GRADED)Week SixFinal Project Grading Rubric - 20 points total (20% of overall course grade)Journal Entries 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.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.All three Financial Statements are prepared accurately and in an appropriate format.Two of three Financial Statements are prepared accurately and mostly in an appropriate format, one statement has some errors.One of three Financial Statements are prepared accurately and mostly in an appropriate format, two statements have some errors.One or fewer of three Financial Statements are prepared accurately and mostly in an appropriate format, three or all statements have some errors.Horizontal & Vertical Analysis (2pts)Horizontal and Vertical analysis is 90% to 100% correctHorizontal and Vertical analysis is 70% to 89% correctHorizontal and Vertical analysis is 50% to 69% correctHorizontal and Vertical analysis has less than 50% correct answers.Financial Ratios (2pts)All ratios are properly calculated with none or only one ratio being incorrect.Most of the ratios are properly calcluated with only two or three ratios being incorrect.There are three or four errors in the calculation of financial ratiosThere are more than four errors in the calculation of the financial ratios.Retained Earnings, December 1
BUS 591 FINAL EXAM PROJECT

BUS 591 FINAL EXAM PROJECT

Question # 00063329 Posted By: expert-mustang Updated on: 04/26/2015 06:23 AM Due on: 04/30/2015
Subject Business Topic General Business Tutorials:
Question
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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 Sheet in Workbook

Week One

Chapter 1 and 2 "Continuing Cookie Chronicle" - Review the problem and make notes of your answers. Chapter 1 & 2 Notes (PRACTICE)

Week Two

Chapter 3, Part A, prepare journal entries to record the November transactions Journal Entries (PRACTICE)

Chapter 3, Part B, post the journal entries to the general ledger accounts General Ledger (PRACTICE)

Chapter 3, Part C, prepare a trial balance at November 30, 2014 Trial Balance (PRACTICE)

Week Three

Chapter 4, Part A, journalize the transactions Journal Entries (GRADED)

Chapter 4, Part B, post the December transactions to the general ledger accounts General Ledger (GRADED)

Chapter 4, Part C, prepare a trial balance at December 31, 2014 Trial Balance (GRADED)

Chapter 4, Part D, prepare and post adjusting journal entries for December Adjusting Entries (GRADED)

Chapter 4, Part E, prepare adjusted trial balance at December 31, 2014 Adjusted Trial Balance (GRADED)

Chapter 4, Part F, prepare an income statement, retained earning statement and balance sheet Financial Statements (GRADED)

Chapter 4, Part G, prepare and post closing entires as of December 31, 2014 Closing Entries (GRADED)

Chapter 4, Part H, prepare a post-closing trial balance Post Closing TB (GRADED)

Week Six

Chapter 13 - Part A, prepare a horizontal and vertical analysis Horiz. & Vert. Analysis (GRADED)

Chapter 13 - Part B, Calculate several financial ratios as indicated Financial Ratios (GRADED)


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