Charandry | Accounting homework help

  

Accounting Project/ Presentation

The following will be done in order to complete this project. 

Ø Choose a public corporation that trades on the SEC

Ø Provide Overview

o Background

o What do they do

o Pull their financial information (which can be found online)

§ Pull their 2017 Balance Sheet- Provide when their fiscal year is?

· Provide total assets and liabilities

o List some of their asset accounts and liabilities (list a min of 3-5 if applicable)

· Provide the Return on asset = Net Income/ Average total assets

§ Pull their 2017 Income Statement 

· Provide total Revenue and Expenses

o List and talk about what are their key revenue and expense accounts (list a min of 3-5 if applicable)

· Calculate the Net Income/ Net Loss

o List who their financial auditors are

o Speak on 4 problems that each group will do and present (each person will present a problem) if you are a group with only 3 individuals then you will only have 3 problems. I will send this information out via email. 

§ What I am looking for:

· Make sure to calculate and work out your problems and incorporate into your presentation

· Make sure you are comfortable with how you derived at your answers

· Be able to walk the class through how you worked out the problem in a high level

· Make sure what you are speaking on is relevant and make sense and ties back to the book and what we learned in the class

  

Admin 

Ø Due Date: Monday, July 9th

Ø Work in Groups

Ø Everything needs to be presented in PowerPoint- Minimum of 5 slides (up to you on how you break up the information)

Ø No more 30 minutes. 

  

1) Reliable Waterworks Corporation provides plumbing services. Transactions of Reliable Waterworks during the first year of operations are given below.

a)  Received $11,000 cash and issued common stock to Sharon.

b)  Paid $2,000 for equipment to be used for plumbing repairs.

c)  Borrowed $10,000 from a local bank and deposited the money in the checking account.

d)  Paid $300 in rent for the year.

e)  Paid $200 for plumbing supplies to be used on various jobs next year.

f)  Completed a plumbing repair for a law firm and received $3,000.

Calculate the amount of total assets at the end of the first year. Assume the plumbing supplies of $3,000 are left at the end of the year. 

A) $2,200

B) $2,000

C) $21,000

D) $23,700

Wendy, Mayra

2) Merchant Corporation provides plumbing services. Transactions of Merchant during the first year of operations are given below.

a) Received $12,000 cash and issued common stock to Sharon.

b) Paid $1,600 cash for equipment to be used for plumbing repairs.

c) Borrowed $14,000 from a local bank and deposited the money in the checking account.

d) Paid $600 rent for the year.

e) Purchased $200 of office supplies by cash.

f) Completed a plumbing repair project for a local lawyer and received $3,000 cash.

Calculate the amount of total liabilities at the end of the first year. 

A) $14,000

B) $12,000

C) $24,400

D) $3,000

Deavin

3) Sharon Foods, Inc. reported the following transactions for September 2017.

a) The business received $22,000 cash and issued common stock. It was credited to Common Stock.

b) The business purchased office equipment for $9,000 for which $2,500 cash was paid and the balance was put on a note payable.

c) Paid insurance expense of $1,500 cash.

d) Paid the September utility bill for $900 cash.

e) Paid $1,500 cash for September rent.

f) The business had sales of $11,000 in September. Of these sales, 60% were cash sales, and the balance was credit sales.

g) The business paid $8,000 cash for office furniture.

What are the total liabilities at the end of September, 2017?

A) $11,000

B) $1,500

C) $6,500

D) $9,000

Maria, DeVonna

64) The following transactions for the month of March have been journalized and posted to the proper accounts.

Mar. 1 The business received $7,000 cash and issued common stock to stockholders.

Mar. 2 Paid the first month’s rent of $500.

Mar. 3 Purchased equipment by paying $2,000 cash and executing a note payable for $6,000.

Mar. 4 Purchased office supplies for $700 cash.

Mar. 5 Billed a client for $12,000 of design services completed.

Mar. 6 Received $9,000 on account for the services previously recorded.

What is the balance in Accounts Receivable?

A) $9,000

B) $3,000

C) $6,000

D) $12,000

I need each problem worked out on 4 separate powerpoint show how you got the answer on the powerponit a total of 9 slides 

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