Comprehensive balance sheet-single-step income statement

Assignment Help Accounting Basics

Reference no: EM13756758

The objective is to prepare a comprehensive balance sheet and single-step income statement presented in good form and derived from a list of various accounts. The amounts relative to each account will be given and the student will learn to determine whether an account is a balance sheet account or a temporary account that belongs to the income statement. The accounts will be comprised of all the various subgroupings in the balance sheet (current assets, investment, fixed assets, intangibles, and other assets, as well as current liabilities, long-term liabilities, and the equity sections). Guidelines include the following.

Obtain the list of accounts under the section Course Project Listing of Accounts.
Determine which accounts belong to the balance sheet and which accounts belong to the income statement.
Determine to which subgroup each account belongs.
Arrange the accounts in proper order and functionality.
Prepare a comprehensive balance sheet in good form.
Prepare a single-step income statement in good form.

Reference no: EM13756758

Questions Cloud

Mistakes that novice business analysts make : What do you think are three most common mistakes that novice business analysts make in modeling process or data

Using the time and materials contract type : It is well known that the Federal Government in general, and DoD in particular, discourages agencies from using the Time & Materials (T&M) contract type. Describe a scenario where the T&M contract type is likely to be the best contract type despite t..

What would be resulting effect on equilibrium price level : What effect would this event have on AD or AS, other things being constant - What would be the resulting effect on equilibrium price level? Explain.

Describe at least five major steps in the interview process : Describe at least five major steps in the interview process. How are participants selected for interviews and joint application development (JAD) sessions

Comprehensive balance sheet-single-step income statement : The objective is to prepare a comprehensive balance sheet and single-step income statement presented in good form and derived from a list of various accounts.

External social pressures have in influencing organizational : Conduct online research on the ethics of your organization and the industry it belongs to - Select an organization you work for or one in your chosen field.

Why did greek civilization develop may forms of government : Why did greek civilization develop may forms of government while roman civilization tended to develop fewer?

Implementing proactive measures to ensure equal opportunity : Which of the following refers to a policy or a program that tries to respond to instances of past discrimination by implementing proactive measures to ensure equal opportunity today?

Re-energizing the mature organization : In reviewing the case study on British Airways, it is important to consider the full 10-year period described in the case study (1980–1990). British Airways transformed itself from an organization of inefficiencies into a customer-focused and financi..

User Account

All Pages