Acc 308 Intermediate Accting Final Project Workbook

ACC 308 - Intermediate Accounting II For full instructions see Instructions Milestone 1 page For full instructions see Instructions Milestone 2 page 1. Using the Peyton Approved financial data, create: Adjusting Entries Adjusted Trial Balance 1. Pro Forma Financial Statements Using the given Pro Forma information, create: Pro Forma Income Statement Pro Forma Balance Sheet 2. Using the Trial Balance and Preliminary financial statements, prepare: Revised Balance Sheet Revised Income Statement Revised Retained Earnings Statement Revised Statement of Cash Flows Remember the written portion of the Milestone! See the Milestone 2 Assignment Guidelines and Rubric document. 3. Using the financial statements from 2015, 2016, and revised 2017, calculate the following ratios: Current Ratio (Working Capital ) Quick Ratio A/R Turnover Inventory Turnover Gross margin Return on Sales Return on Equity Return on Assets Remember the written portion of the Milestone! See the Milestone 1 Assignment Guidelines and Rubric document. Southern New Hampshire University ACC 308 - Intermediate Accounting II IMPORTANT NOTE: Make sure to completely review the Rubric for Milestone 1 Use the data from this Milestone and begin working on your final presentation due in Final Project (Module 7) ITEMS TO COMPLETE FOR THIS MILESTONE (Blue Tabs) : GENERAL 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 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: 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: Current Ratio (Working Capital ) Quick Ratio A/R Turnover Inventory Turnover Gross margin Return on Sales Return on Equity Return on Assets PEYTON APPROVED FINANCIAL DATA Preliminary Financial Statements have already been prepared (2017 statements in the Final Project Workbook). Final adjusting entries have not yet been made. See table for possible adjustments that indicate what will be recorded at 12/31/17 (fiscal year end). Use the following to complete year-to-year documentation and notes for managing depreciation, inventory, and long-term debt.