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Instructions
This assessment addresses the following course objective(s):
List the steps of the Accounting Cycle.
Identify the effects of various business transactions.
Download the Unit 1 Assignment - Financial Statements Preview the document [Excel Spreadsheet] template.
Using the account list with corresponding balances complete:
Income Statement,Statement of Owner EquityBalance Sheet.
Refer to your text book for examples of these statements.
Make sure to save your work as you are making changes.
Attachment:- Financial Statements Template.rar
Present a proposal for a start-up sole proprietorship business that would be of interest to you. Indicate the type of company you would create.
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At least 2 ethical issues that managers and financial teams face when preparing financial reports.- What regulations should be considered when making a decision about each issue?
Racer X Corporation manufactures two models of motorized go-carts and a standard. What is the total amount of overhead cost assigned to the standard model?
Briefly describe the kinds of information that should be reported in the statistical section of the CAFR.
Global Measurement Solutions (GMS) specialises in manufacturing precision measuring. Calculate each of the predetermined overhead rates for the GMS departments.
If you are to prepare the financial statement for this quarter, what are the numbers for COGS and ending inventory given the following cost flow
company uses a job order costing system and applies manufacturing overhead to jobs using a predetermined overhead rate
Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 3.5% of total accounts receivable to estimate uncollectibles.
Prepare an incremental analysis report for Barnes Company which can serve as informational input into this make or buy decision.
The following information is available for the Starr Air Corporation: Sales - $750,000, Calculate the company inventory turnover and its days sales in inventory
In 2007-2009, the Federal Reserve, acting as a lender of last resort, stepped in to provide funds when private markets were unable to do so.
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