Can I get assistance with the Excell spreadsheet for module one (blue tabs)?
ACC 308 Final Project Workbook HOME Southern New Hampshire University ACC 308 - Intermediate Accounting II Note: This workbook contains instructions and financial information you will need to complete the Workbook portions of Milestones One and Two. For full instructions for the milestone and final project assignments, refer to the guidelines and rubric documents. You can use the links below to navigate from this HOME tab to additional instructions and the worksheets for each milestone. MILESTONE ONE (Due in Module Three)MILESTONE TWO (Due in Module Five)FINAL PROJECT (Due in Module Seven) Milestone One Workbook InstructionsMilestone Two Workbook InstructionsNote: The final project consists of corrected work from Milestone One and Milestone Two. Incorporate the feedback you received from your instructor. 1. Trial Balance1. Pro Forma Financial Statements Using the Peyton Approved financial data, create:Using the given pro forma information, create: Adjusting EntriesPro Forma Income Statement Adjusted Trial BalancePro Forma Balance Sheet 2. Revised Financial Statements2. Notes to the Financial Statements Note: This part of the project is submitted as a separate Word document. Refer to the Milestone Two Guidelines and Rubric document for submission guidelines. Using the trial balance and preliminary financial statements, prepare:Your notes must contain the following: Revised Balance SheetA. Create appropriate notes as year-to-year documentation for managing depreciation, supplies, and inventory. Revised Income StatementB. Create appropriate notes for long-term debt. Revised Retained Earnings Statement Revised Statement of Cash Flows 3. Ratio Analysis3. Management Analysis Brief Note: Refer to the Final Project Scenario for Peyton's ratio formulas.Note: This part of the project is submitted as a separate Word document. Refer to the Milestone Two Guidelines and Rubric document for submission guidelines. Using the financial statements from 2015, 2016, and revised 2017, calculate the following ratios:Your management analysis brief should explain financial information to management. Provide evidence from your accounting workbook to support your ideas where applicable. Current Ratio (Working Capital)A. Discuss the impact of the pro forma financial statements for predicting ability to meet future expansion goals. Quick RatioB. Describe the implications of inventory costing, contingent liabilities, and revenue recognition. A/R TurnoverC. Identify potential issues in interpretation of financial information, providing examples to support your ideas. Inventory Turnover Gross Margin Return on Sales Return on Equity Return on Assets 4. Management Analysis Brief Note: This part of the project is submitted as a separate Word document. Refer to the Milestone One Guidelines and Rubric document for submission guidelines. Your management analysis brief should explain financial information to management. Provide evidence from your accounting workbook to support your ideas where applicable. A. Assess the company’s financial health based on ratio analyses presented in the accounting workbook. B. Compare ratio analysis to trends in financial ratios over time for illustrating their impact, providing examples to support your claims. C. Summarize the effects of different compounding periods and interest rates on future value of money. D. Explain how alignment to relevant regulations and ethical reporting influenced your accounting practices and notes, providing examples to support your claims. Milestone One Instructions Return HOME INSTRUCTIONS FOR MILESTONE ONE (Due in Module Three) Note: Make sure to completely review the Milestone One Guidelines and Rubric document. Use the data from this milestone and begin working on your final project, due in Module Seven. ITEMS TO COMPLETE FOR MILESTONE ONE: The tabs to complete are linked below and colored blue for convenience. 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. 1. TRIAL BALANCE Using the Peyton Approved financial data provided below: A. Create the necessary adjusting journal entries. Use the REF column to reference the entry to each event. B. Complete the adjusted trial balance. Trial Balance 2017 2. REVISED FINANCIAL STATEMENTS Peyton Approved's preliminary financial statements are provided in the yellow tabs. Balance Sheet 2017 Income Statement 2017 Retained Earnings 2017 Cash Flow 2017 Using the preliminary financial statements and the Trial Balance 2017, prepare the following statements: Balance Sheet 2017 Revised Income Statement 2017 Revised Retained Earnings Statement 2017 Revised Statement of Cash Flows 2017 Revised Note: Refer to Module Three resources for a refresher on statement of cash flows. Peyton Approved's previous years' financial statements are provided in the orange tabs. Balance Sheet 2015 Balance Sheet 2016 Income Statement 2016 3. RATIO ANALYSIS Using the revised 2017 financial statements, 2016 financial statements, and 2015 financial statements, prepare a ratio analysis for Peyton Approved. Note: Refer to the Final Project Scenario for Peyton's ratio formulas. Ratio Analysis 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. 1. A supplier shipped $3,000 of ingredients on 12/29/17. Peyton receives an invoice for $3,175—goods of $3,000 and freight of $175—all dated 12/29/17. Goods were shipped FOB supplier’s warehouse. 2. At 12/31/17, Peyton has $200 worth of merchandise on consignment at Bruno’s House of Bacon. 3. On 12/23/17, Peyton received a $1,000 deposit from Pet Globe for product to be shipped by Peyton in the second week of January. 4. On 12/03/2017, a mixer with cost of $2,000, accumulated depreciation $1,200, was destroyed by a forklift. As of 12/23/17, insurance company has agreed to pay $700 in January 2018, for accidental destruction. 4. MANAGEMENT ANALYSIS BRIEF Note: This part of the project is submitted as a separate Word document. Refer to the Milestone One Guidelines and Rubric document for submission guidelines. Your management analysis brief should explain financial information to management. Provide evidence from your accounting workbook to support your ideas where applicable. A. Assess the company’s financial health based on ratio analyses presented in the accounting workbook. B. Compare ratio analysis to trends in financial ratios over time for illustrating their impact, providing examples to support your claims. C. Summarize the effects of different compounding periods and interest rates on future value of money. D. Explain how alignment to relevant regulations and ethical reporting influenced your accounting practices and notes, providing examples to support your claims. Trial Balance 2017 Milestone One Workbook Instructions PEYTON APPROVED TRIAL BALANCE As of December 31, 2017 Unadjusted trial balanceAdjusting entriesAdjusted trial balance DrCrrefDrCrrefDrCr Cash67,520.0467,520.04 Accounts Receivable68,519.9168,519.91 Other Receivable - Insurance- 0 Baking Supplies15,506.7015,506.70 Merchandise Inventory1,238.071,238.07 Consignment Inventory- 0 Prepaid Rent2,114.552,114.55 Prepaid Insurance2,114.552,114.55 Misc. Supplies170.49170.49 Baking Equipment14,000.0014,000.00 Accumulated Depreciation1,606.441,606.44 Customer Deposit- 0 Accounts Payable20,262.1120,262.11 Wages Payable3,383.283,383.28 Interest Payable211.46211.46 Notes Payable5,000.005,000.00 Common Stock20,000.0020,000.00 Beginning Retained earnings50,144.8450,144.84 Dividends105,000.00105,000.00 Bakery Sales327,322.55327,322.55 Merchandise Sales1,205.641,205.64 Cost of Goods Sold - Baked105,834.29105,834.29 Cost of Goods Sold - Merchandise859.77859.77 Rent Expense24,549.1924,549.19 Wages Expense10,670.7210,670.72 Misc. Supplies Expense3,000.463,000.46 Business License Expense2,045.772,045.77 Misc. Expense1,363.841,363.84 Depreciation Expense677.86677.86 Insurance Expense1,091.081,091.08 Advertising Expense1,549.741,549.74 Interest Expense818.31818.31 Telephone Expense490.98490.98 Gain/Loss on disposal of equipment 429,136.32429,136.32- 0- 0429,136.32429,136.32 Balance Sheet 2017 Preliminary Peyton Approved Balance Sheet As of December 31, 2017 AssetsLiabilities and Owners' Equity Current Assets:Current Liabilities: Cash$ 67,520.04Accounts Payable$ 20,262.11 Accounts Receivable68,519.91Wages Payable3,383.28 Baking Supplies15,506.70Interest Payable211.46 Merchandise Inventory1,238.07 Prepaid Rent2,114.55 Prepaid Insurance2,114.55 Misc. Supplies170.49 Total Current Assets$ 157,184.31Total Current Liabilities$ 23,856.85 Long Term Liabilities: Long Term/Fixed Assets:Notes Payable5,000.00 Baking Equipment14,000.00Total Long Term Liabilities:5,000.00 Accumulated Depreciation-1,606.44 Net Fixed assets12,393.56Total Liabilities:28,856.85 Common Stock20,000.00 Retained Earnings120,721.02 Total Equity140,721.02 Total Assets:$ 169,577.87Total Liabilities & Equity$ 169,577.87 Balance Sheet 2017 Revised Milestone One Workbook InstructionsRevised Peyton Approved Balance Sheet As of December 31, 2017 Income Statement 2017 Preliminary Peyton Approved Income Statement for Year Ended 12/31/2017 Bakery Sales$ 327,322.55 Merchandise Sales1,205.64 Total Revenues328,528.19 Cost of Goods Sold - Baked105,834.29 Cost of Goods Sold - Merchandise859.77 Total Cost of Goods Sold106,694.06 Gross Profit221,834.13 Operating Expenses: Rent Expense24,549.19 Wages Expense10,670.72 Misc. Supplies Expense3,000.46 Business License Expense2,045.77 Misc. Expense1,363.84 Depreciation Expense677.86 Insurance Expense1,091.08 Advertising Expense1,549.74 Interest Expense818.31 Telephone Expense490.98 Total Operating Expenses:46,257.95 Net Income 175,576.18 Income Statement 2017 Revised Milestone One Workbook Instructions Revised Peyton Approved Income Statement for Year Ended 12/31/2017 Retained Earnings 2017 Preliminary Peyton Approved Statement of Retained Earnings for Year Ended 12/31/2017 Beginning Balance:$ 50,144.84 plus Net Income 175,576.18 less Dividends:105,000.00 Ending Balance$ 120,721.02 Retained Earnings 2017 Revised Milestone One Workbook Instructions Revised Peyton Approved Statement of Retained Earnings for Year Ended 12/31/2017 Cash Flow 2017 Preliminary Peyton Approved Statement of Cash Flow for Year Ended 12/31/2017 Net Income$ 175,576.18 Depreciation Expense677.86 176,254.04 Increase in Accounts Receivable(25,886.91) Increase in Baking Supplies(8,187.84) Increase in Merchandise inventory(443.10) Increase in Prepaid Rent(449.55) Increase in Prepaid Insurance(1,004.55) Increase in Misc. Supplies(114.99) Increase in Accounts Payable3,292.11 Increase in Wages Payable1,850.48 Increase in Interest Payable44.96 Operating Cash Flow145,354.65 Cash Flow from Investments Equipment Purchases(6,000.00) Cash Flow from Investments(6,000.00) Cash Flow from Financing Repayment of Note Payable(10,000.00) Dividends Paid(105,000.00) Cash Flow from Financing(115,000.00) Net Cash Flow24,354