Reference no: EM13489174
Mastery Problem 1This assignment draws on your understanding of Chapters 1 and 2. Create the Balance Sheet,Income Statement and Statement of Retained Earnings for the following company in an Excelworkbook, employing three sheets. Use the prescribed GAAP presentation for the financialstatements. When possible reference/link data across sheets to make the spreadsheet as dynamicas possible. Demonstrate your ability to apply Excel formatting functions to cells and to theoverall report, consistent with the GSMT Expectations for Excel posted under Course Content.Use formulas to perform the calculations (ie SUM, AVG, GEOMEAN, etc) and apply theOutliner feature as appropriate.
1) Prepare the company's balance sheet at January 31, 2010. Use an appropriate formula tocompute ending retained earnings.
2) From the balance sheet, create a pie chart for Total Assets. Employ best practices inpresenting charts.
3) Prepare the company's income statement for the year ended January 31, 2010.4) Prepare a statement of retained earnings and calculate the company's dividend for theyear.Company Data:Amounts of the assets and liabilities of DolanBanking Company, as of January 31,2010, are given as follows. Also included are revenue and expense figures for the yearended on that date (amounts in millions):
Total revenue........................ $ 37.8 Investment assets..................... $169.6Receivables........................... 0.9 Property and equipment, net .. 1.9Current liabilities.................. 151.1 Other expenses....................... 6.9Common stock...................... 14.0 Retained earnings, beginning 8.6Interest expense............... 0.8 Retained earnings, ending ..... ?Salary and otheremployee expenses.......... 17.7 Cash.......................................... 2.1Long-termliabilities........... 2.8 Other assets............................. 14.4
|
What is the activity of the mantle
: Gas lanterns used on camping trips have mantles (small lacy bags that give off light) made from a rayon mesh impregnated with thorium, A typical mantle contains 345 mg of thorium. What is the activity of the mantle
|
|
Develop a break even analysis
: How does the firm use "Cost-Volume-Profit Analysis" to assess performance? How would you use such a system to measure how costs change as production changes? How do you develop a "break even analysis" for a given firm and how would you use it?
|
|
What entries are required in the general journals
: How does one determine whether a particular lease is a capital lease or an operating lease? What entries are required in the general journals of a government fund and governmental activities at the government-wide level to record a capital lease a..
|
|
Calculate and estimate the internal rate of return
: Critically discuss Ms Sassoni's view that surplus cash should be paid out to shareholders and that Sassi Stores should introduce gearing onto its balance sheet and calculate and estimate the internal rate of return of the forecast cash flows of the..
|
|
Create a pie chart for total assets
: Prepare the company's balance sheet at January 31, 2010. Use an appropriate formula tocompute ending retained earnings.
|
|
Find the net rate at which heat is radiated into the room
: A black wood stove has a surface area of 2.20 m2 and a surface temperature of 185° C. What is the net rate at which heat is radiated into the room
|
|
Provide thru fasb accounting codification
: How to Recognized or Disclose in the financial statement. The answer are provide thru FASB accounting codification. If you don't have login, I will provide the web link and the login info.
|
|
Calculate how much work is done in each cycle
: An engine absorbs 1698 J from a hot reservoir and expels 1205 J to a cold reservoir in each cycle. How much work is done in each cycle
|
|
Define what is the pka for the acid
: The pH of a 0.010 mol L-1 solution of a weak monoprotic acid is 2.09 at 25oC. What is the pKa for this acid?
|