Construct a pro forma income statement and balance sheet

Assignment Help Financial Accounting
Reference no: EM131139646 , Length:

Question:

Using the same publicly held company that you have been using, access the companys Web page on the Internet.

Complete the following:

Using the company's financial statements, construct a pro forma income statement and balance sheet for the company using the percentage-of-sales method.

Be sure to include the original statements along with a defendable sales forecast.

Upon completion of the financials, write a paper detailing the process and what you learned about the company as you work through this activity.

1 Excel spreadsheet + 1 Word document of 600 words

Verified Expert

Reference no: EM131139646

Questions Cloud

Management process-planning-organizing-leading-controlling : Trader Joe's case. In what ways does Trader Joe’s demonstrate the importance of each responsibility in the management process—planning, organizing, leading, and controlling? What lessons does the Trader Joe’s story offer to aspiring entrepreneurs who..
Explain how each medium enables e-commerce : Analyze each behavior using the communication process. The analysis should include descriptions of the purpose, sender, receiver, message, environment, technology, noise, and feedback.
Elite charge lump-sum taxes to middle-class entrepreneur : Now suppose that the elite can charge lump-sum taxes to middle-class entrepreneurs. Provide an example in which in the MPE, the elite would still prefer g = 0. Explain why the political equilibrium might involve the use of inefficient fiscal instr..
Does ethics support the law in this case : Explain the similarities and differences in your two solutions to the same dilemma. State (and justify) whether you feel the two schools of ethics are worthy of use in "real life" dilemmas.
Construct a pro forma income statement and balance sheet : Using the company's financial statements, construct a pro forma income statement and balance sheet for the company using the percentage-of-sales method.
Compute times-interest-earned ratio and inventory turnover : Compute the Times-interest-earned ratio, Inventory turnover, Gross profit percentage, Debt to equity ratio, Rate of return on common stockholders' equity, Earnings per share of common stock and Price/earnings ratio.
Explain differences between intended and realized strategy : Explain the differences between intended and realized strategy. Why is it so difficult to execute strategies just as they are originally planned? What can be done to minimize the gap between intended and realized strategies?
Traditional approach for identifying qualified applicants : The traditional approach for identifying qualified applicants is often driven by old traditions like looking at resumes, degree, years of experience, and even looks. What other, more quantifiable measures might be used when hiring a new employee? Be ..
Distinguish between story goal and plot : select a short story from the Gutenberg website and deconstruct how the author is weaving the tale from a plot standpoint. - Locate the story goal.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Indicate each of the given actions is related to acquisition

Indicate whether each of the following actions is primarily related to (a) acquisition of long-term assets, (b) evaluating the financing of long- term assets, or (c) applying accrual accounting to long-term assets:

  Identify and comment on two supply-side initiatives included

Based upon your own Internet research, identify and comment on two supply-side initiatives included in the current U.S. stimulus package. Ensure your response includes one strength and one weakness in each of these initiatives.

  Amortized with monthly payments

A borrower takes a $300,000 loan with fixed rate of 4% amortized with monthly payments over 30 years. There are prepaid finance charges of 1 point on the loan amount plus $1,500.

  Find out the estimated income on the construction contract

The income to be recognized each year is based on the proportion of cost incured to the total estimated costs for completing the contract. Find out the estimated income on the construction contract.

  General ledger account since the acquisition

A company has notes receivable, classified as non-current, that has a fair value of $920,000 at 12/31/14 and an acquisition cost of $710,000. Management decided at the acquisition date, to use the fair value option for this recently-acquired receivab..

  How much did fishbone pay for the bonds

On January 1, 2014, Fishbone Corporation purchased 330 of the $1,000 face value, 9%, 10-year bonds of Walters Inc. The bonds mature on January 1, 2024, and pay interest annually beginning January 1, 2015. Fishbone purchased the bonds to yield 11%. Ho..

  Define cost-cost object-direct cost and indirect cost

You are a manufacturer who produces products in batches. You currently assign overhead to products based on machine hours (mh). One of the costs included is setup cost. Machines must be setup for each batch. For the past year, total setup costs were ..

  Showing the effect on the net operating loss

Assume the following information for this problem only. In the year 2011, A&A Products had a net operating loss of $50,000 and a tax rate of 20%. In 2010, A&A Products had income of $10,000 and a tax rate of 20%. In 2012, A&A Products reported net in..

  After tax cost of debt and preferred stock1 calculate the

after tax cost of debt and preferred stock.1. calculate the after-tax cost of a 25 million debt issue that a company

  Determine the total equity for fong''s business

Determine the total equity for Fong's business at year-end and What is the equity at the end of the year

  Cash flow possibilities for the restoration costs

After the copper is extracted in approximately six years, Schefter is obligated to restore the land to its original condition, including constructing a park. The company’s controller has provided the following three cash flow possibilities for the re..

  Impact on the disclosure policies of an organisation

Impact on the disclosure policies of an organisation and Would you expect management to worry about attitudinal surveys,

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd