Exam (elaborations)
ACC 308 - 5-1 Milestone Two - Intermediate Accounting II
- Course
- ACCT 308
- Institution
- Southern New Hampshire University
ACC 308 - 5-1 Milestone Two - Intermediate Accounting II
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Southern New Hampshire UniversityACC 308 - Intermediate Accounting II
1. 1.
Adjusting Entries Pro Forma Income Statement
Adjusted Trial Balance Pro Forma Balance Sheet
2.
Revised Balance Sheet
Revised Income Statement
Revised Statement of Cash Flows
3. Current Ratio (Working Capital ) Quick Ratio A/R Turnover Inventory Turnover Gross margin Return on Sales Return on EquityMILESTONE 1 (Due in Module 3) MILESTONE 2 (Due in Module 5)
For full instructions see Instructions Milestone 1 pageFor full instructions see Instructions Milestone 2 page
Using the Peyton Approved financial data, create:Using the given Pro Forma information, create:
Using the Trial Balance and Preliminary financial statements, prepare:Remember the written portion of the Milestone! See the Milestone 2 Assignment Guidelines and Rubric document.
Revised Retained Earnings Statement
Using the financial statements from 2015, 2016, and revised 2017, calculate the following ratios:
Trial Balance
Ratio Analysis
Revised Financial Statements
Pro Forma Financial Statements
Instructions Milestone 1 Instructions Milestone 2 Return on Assets
Remember the written portion of the Milestone! See the Milestone 1 Assignment Guidelines and Rubric document. (Due in Module 5) Southern New Hampshire University
ACC 308 - Intermediate Accounting II
IMPORTANT NOTE:
Use the data from this Milestone and begin working on your final presentation due in Final Project (Module 7)
GENERAL
Using the Peyton Approved financial data (see bottom of page):
Create the necessary adjusting journal entries. Use the REF column to reference the entry to each event Complete the adjusted trial balance
REVISED FINANCIAL STATEMENTS
Using the preliminary financial statements (yellow tabs) and the Trial Balance 2017, prepare the following statements: Current Ratio (Working Capital ) Quick RatioINSTRUCTIONS FOR MILESTONE 1 (Due Module 3)
Make sure to completely review the Rubric for Milestone 1
ITEMS TO COMPLETE FOR THIS MILESTONE (Blue Tabs):
You just began a position as a financial accountant at Peyton Approved. In this role, your first task is to prepare the company’s financials for the year-end audit. Additionally, the company is interested in expanding its business within the next year. They would like your support in assessing their ability to meet their goals. TRIAL BALANCE 2017 TAB
Balance Sheet (BS 2017 Revised tab)
Income Statement (IS 2017 Revised tab)
Retained Earnings Statement (RE 2017 Revised tab)
Statement of Cash Flows (CF 2017 Revised tab)
RATIO ANALYSIS
Using the revised 2017 financial statements, 2016 financial statements (orange tabs), and 2015 financial statements (orange tabs), prepare a ratio analysis with the following ratios:
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