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1 HCS 380 Week 1 Individual Assignment Reference Chart For more course tutorials visit Reference Chart Instructions: Create a chart detailing the three different forms of business organizations (proprietorships, partnerships, and corporations). Also include key users of financial information and briefly explain their roles. Cite 3 peer-reviewed, scholarly, or similar references to support your paper. Click on the Assignment Files tab to submit your assignment. ================================================= HCS 380 Week 1 WileyPLUS (Ex 1-15, Ex Problem 1-3A, Ex 2-1, Ex 2-5, Problem 2-3A) For more course tutorials visit This Tutorial contains Excel Sheet which can be used to solve below mentioned Problem for any numbers/values
2 Complete the assigned exercises in WileyPLUS. Excel Exercise 1-15 Excel Problem 1-3A Exercise 2-1 Exercise 2-5 Problem 2-3A Problem 2-2A You should see the following assignments that are due for a grade: Chapter 1 - Excel assignment; Chapter 2 - Homework assignment wileyplus prepare excel sheet Chapter 2 Problems -- prepare excel sheet NOTE: Assignment must be completed by Due Date. E1-15 Classify items as assets, liabilities, and stockholders' equity, and prepare accounting equation Suppose the following items were taken from the balance sheet of Nike, Inc. (All items are in millions.) 1. Cash $2, Inventory $2, Accounts receivable 2, Income taxes payable 86.3
3 3. Common stock 2, Equipment 1, Notes payable Retained earnings 5, Buildings 3, Accounts payable 2, Mortgage payable 1,311.5 Instructions (a) Classify each of these items as an asset, liability, or stockholders' equity and determine the total dollar amount for each classification. (b) Determine Nike's accounting equation by calculating the value of total assets, total liabilities, and total stockholders' equity. (c ) To what extent does Nike rely on debt versus equity financing? NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" P1-3A Prepare an income statement, retained earnings statement and balance sheet; discuss results On June 1, Hightower Service Co. was started with an initial investment in the company of $22,100 cash. Here are the assets, liabilities, and common stock of the company at June 30, and the revenues and expenses for the month of June, its first month of operations:
4 Cash $4,600 Notes payable $12,000 Accounts receivable 4,000 Accounts payable 500 Service revenue 7,500 Supplies expense 1,000 Supplies 2,400 Maintenance and repairs expense 600 Advertising expense 400 Utilities expense 300 Equipment 26,000 Salaries and wages expense 1,400 Common Stock 22,100 In June, the company issued no additional stock but paid dividends of $1,400. Instructions (a) Prepare an income statement and retained earnings statement for the month of June and a balance sheet at June 30, (b) Briefly discuss whether the company's first month of operations was a success. (c ) Discuss the company's decision to distribute a dividend. NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". Exercise 2-1 Classify each of the following financial statement items taken from Mordica Corporation s balance sheet. Accounts payable Accounts receivable
5 Entry field with incorrect answer equipment Accumulated depreciation Buildings Cash Interest payable Goodwill Income taxes payable Inventory Stock investments (to be Land (in use) Mortgage payable Supplies Equipment Prepaid rent Exercise 2-5 These items are taken from the financial statements of Donavan Co. at December 31, Buildings $121,035 Accounts receivable 14,414 Prepaid insurance 3,661 Cash 13,545 Equipment 94,266 Land 70,013 Insurance expense 892 Depreciation 6,063 expense Interest expense 2,974 Common stock 68,640 Retained earnings 45,760
6 (January 1, 2014) Accumulated depreciation 52,166 buildings Accounts 10,868 payable Notes payable 107,078 Accumulated depreciation 21,416 equipment Interest payable 4,118 Service revenue 16,817 Problem 2-3A You are provided with the following information for Ramirez Enterprises, effective as of its April 30, 2014, year-end. Accounts payable $ 868 Accounts receivable 918 Accumulated depreciation 670 equipment Cash 1,378 Common stock 1,224 Cost of goods sold 1,094 Depreciation expense 301 Dividends 359 Equipment 2,528 Income tax expense 199 Income taxes payable 169 Insurance expense 244 Interest expense 434 Inventory 1,075
7 Land 3,208 Mortgage payable 3,608 Notes payable 169 Prepaid insurance 94 Retained earnings (beginning) 1,600 Salaries and wages expense 666 Salaries and wages payable 256 Sales revenue 5,208 Stock investments (short-term) 1,274 Prepare an income statement for Ramirez Enterprises for the year ended April 30, Problem 2-2A These items are taken from the financial statements of Tresh Corporation for Retained earnings (beginning of $34,462 year) Utilities expense 2,128 Equipment 69,462 Accounts payable 23,048 Cash 12,343 Salaries and wages payable 4,884 Common stock 12,000 Dividends 12,000 Service revenue 71,415 Prepaid insurance 5,384 Maintenance and repairs expense 1,672 Depreciation expense 3,189
8 Accounts 16,448 receivable Insurance expense 2,611 Salaries and 40,415 wages expense Accumulated depreciation 19,843 equipment ================================================= HCS 380 Week 2 Team Assignment Financial Statement Components (2 PPT) For more course tutorials visit This Tutorial contains 2 PPT HCS 380 Week 2 Team Assignment Financial Statement Components Financial Statement Components Instructions: Your team has been asked by a local community college instructor to speak to a class about health care accounting. The instructor has asked you to prepare a 10-to 15- slide Microsoft PowerPoint presentation in which you do the following: Describe the relationship between financial statements and the supplemental components comprised in an annual report. Explain how the accounting equation affects financial statement
9 components. Determine the effects of transactions on the accounting equation. Include the following with your presentation: Detailed speaker notes Specific examples A 1-page handout to give to students Format your presentation according to APA guidelines. Cite 3 peer-reviewed, scholarly, or similar references to support your paper. Click on the Assignment Files tab to submit your assignment. ================================================= HCS 380 Week 2 WileyPLUS Excel Assignment (Ex 4-12, Ex 4-13, Ex 4-16, Ex P4-1A) For more course tutorials visit Complete the assigned exercises in WileyPLUS. You should see the following assignments that are due for a grade: Chapter 4 - Excel assignment NOTE: Assignment must be completed by Due Date. Automatic deduction of 50% of points if received after due date. No points awarded if completed after 4 days from Due Date. Excel Exercise 4-12
10 Excel Exercise 4-13 Excel Exercise 4-16 Excel Problem 4-1A E4-12 Prepare a correct income statement The income statement of Garska Co. for the month of July shows net income of $2,000 based on Service Revenue $5,500; Salaries and Wages $2,100; Supplies Expense $900; and Utilities Expense $500. In reviewing the statement, you discover the following: 1. Insurance expired during July of $350 was omitted. 2. Supplies expense includes $200 of supplies that are still on hand at July Depreciation on equipment of $150 was omitted. 4. Accrued but unpaid wages at July 31 of $360 were not included, 5. Services performed but unrecorded totaled $700.
11 Instructions Prepare a correct income statement for July NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". E4-13 Analyze adjusted data This is a partial adjusted trial balance of Barone Company Adjusted Trial Balance January 31, 2014 BARONE COMPANY Debit Credit Supplies $700 1, Prepaid Insurance Salaries and Wages Payable $1,060 Unearned Service Revenue Supplies Expense Insurance Expense
12 1,800 4,000 Salaries and Wages Expense Service Revenue Instructions Answer these questions, assuming the year begins January 1. (a) If the amount in Supplies Expense is the January 31 adjusting entry, and $300 of supplies was purchased in January, what was the balance in Supplies on January 1? (b) If the amount in Insurance Expense is the January 31 adjusting entry, and the original insurance premium was for 1 year, what was the total premium and when was the policy purchased? (c ) If $2,500 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2013? (d) If $1,800 was received in January for services performed in January, what was the balance in Unearned Service Revenue at December 31, 2013? NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?".
13 E4-16 Prepare adjusting entries from analysis of trial balance The trial balance shown below are before and after adjustment for Bere Company at the end of its fiscal year. BERE OMPANY Trial Balance August 31, 2014 Instructions Prepare the adjusting entries that were made NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". P4-1A Record transactions on accrual basis; convert revenue to cash receipts ================================================= HCS 380 Week 3 Individual Assignment Accounting Comparison (2 Papers) For more course tutorials visit
14 This Tutorial contains 2 Papers HCS 380 Week 3 Individual Assignment Accounting Comparison Accounting Comparison Instructions: Create a diagram comparing accrual and cash accounting. Also include a 350- to 700-word summary of the differentiation and uses of the two. Cite 3 peer-reviewed, scholarly, or similar references to support your paper. Click on the Assignment Files tab to submit your assignment. ================================================= HCS 380 Week 3 WileyPLUS Ex 13-9, Ex For more course tutorials visit This Tutorial contains Excel Sheet which can be used to solve below mentioned Problem for any numbers/values Complete the assigned exercises in WileyPLUS. Exercise 13-9
15 Exercise Exercise 13-9 Your answer is partially correct. Kinder Company has these comparative balance sheet data: KINDER COMPANY Balance Sheets December Cash $ 29,895 $ 59,790 Accounts receivable 139, ,580 (net) Inventory 119,580 99,650 Plant assets (net) 398, ,740 $687,585 $637,760 Accounts payable $ 99,650 $ 119,580 Mortgage payable 199, ,300 (15%) Common stock, $10 par 279, ,160 Retained earnings 109,615 79,720 $687,585 $637,760 Additional information for 2014: 1. Net income was $30,600. Sales on account were $377,000. Sales returns and allowances 2. amounted to $26, Cost of goods sold was $201, Net cash provided by operating activities was $58, Capital expenditures were $26,100, and cash dividends were
16 $17,300. Compute the following ratios at December 31, Exercise Your answer is partially correct. The condensed financial statements of Elliott Company for the years 2013 and 2014 are presented below. ELLIOTT COMPANY Balance Sheets December 31 (in thousands) Current assets Cash and cash equivalents $330 $360 Accounts receivable (net) Inventory Prepaid expenses Total current assets 1,645 1,565 Property, plant, and equipment (net) Investments Intangibles and other assets Total assets $2,670 $2,540 Current liabilities $895 $865 Long-term liabilities Stockholders equity common 1,115 1,115 Total liabilities and stockholders $2,670 $2,540 equity
17 ELLIOTT COMPANY Income Statements For the Year Ended December 31 (in thousands) Sales revenue $3,980 $3,640 Costs and expenses Cost of goods sold 1, Selling & administrative 2,400 2,330 expenses Interest expense Total costs and expenses 3,455 3,315 Income before income taxes Income tax expense Net income $ 315 $ 195 Compute the following ratios for 2014 and (Round all answers to 2 decimal places, e.g or 12.61%.) (a) Current ratio. Inventory turnover. (Inventory on December 31, 2012, was (b) $380.) (c) Profit margin. Return on assets. (Assets on December 31, 2012, were (d) (e) $1,950.) Return on common stockholders equity. (Equity on December 31, 2012, was $940.) (f) Debt to assets ratio. (g) Times interest earned. ================================================= HCS 380 Week 4 Individual Signature Assignment Financial Statement (2 Papers)
18 For more course tutorials visit This Tutorial contains 2 Papers Signature Assignment: Financial Statement Instructions: The community college instructor has asked for your help again. This time, he has asked for you to personally create a document he could give to his students. Write a 750- to 1,050-word paper in which you: Explain the ways financial information is used in health care organizations. Explain the use of the financial statement analysis as a method to address financial issues. Analyze the effects of unusual or irregular items on financial statements. Format your paper according to APA guidelines. Cite 3 peer-reviewed, scholarly, or similar references to support your paper. Click on the Assignment Files tab to submit your assignment. ================================================= HCS 380 Week 4 WileyPlus Ex 7-8, Ex7-14 For more course tutorials visit
19 This Tutorial contains Excel Sheet which can be used to solve below mentioned Problem for any numbers/values Complete the assigned exercises in WileyPLUS. Chapter 7 - Excel Assignment (E7-8); Chapter 7 - Excel Assignment (E7-14: Cash Budget) Exercise 7-8 The following information pertains to Joyce Company. 1. Cash balance per bank, July 31, $7, July bank service charge not recorded by the depositor $ Cash balance per books, July 31, $7, Deposits in transit, July 31, $2, Note for $2,091 collected for Joyce Company in July by the bank, plus interest $55 less fee $39. The collection has not been recorded by Joyce Company, and no interest has been accrued. 6. Outstanding checks, July 31, $705. Exercise 7-14 Enright Company expects to have a cash balance of $63,550 on January 1, These are the relevant monthly budget data for the first two months of Collections from customers: January $88,550, February $163, Payments to suppliers: January $57,550, February $92, Wages: January $30,161, February $40,161. Wages are paid in the month they are incurred. Administrative expenses: January $21,161, February $24,161. These costs include depreciation of $1,000 per month. All other costs are paid as incurred. Selling expenses: January $15,161, February $20,161. These costs 5. are exclusive of depreciation. They are paid as incurred. 6. Sales of short-term investments in January are expected to realize
20 $12,161 in cash. Enright has a line of credit at a local bank that enables it to borrow up to $25,000. The company wants to maintain a minimum monthly cash balance of $37,550. Prepare a cash budget for January and February. ================================================= HCS 380 Week 5 Individual Signature Assignment Cash Control (2 Papers) For more course tutorials visit This Tutorial contains 2 Papers Signature Assignment: Cash Control Instructions: Write a 750- to 1,050-word paper in which you: Explain the principles of internal control. Explain the use of cash and internal controls to prevent fraud. Explain why corporations invest in stocks and debt securities. Explain how debt and stock investments are reported in financial statements. Format your paper according to APA guidelines. Cite 3 peer-reviewed, scholarly, or similar references to support your paper. Click on the Assignment Files tab to submit your assignment. ================================================= HCS 380 Week 5 Team Assignment Business Proposal (2 Papers)
21 For more course tutorials visit This Tutorial contains 2 Papers HCS 380 Week 5 Team Assignment Business Proposal Business Proposal Instructions: For this assignment, you will use the consolidated financial statements you chose in Week Four. As a team, analyze your chosen consolidated financial statements and make recommendations to leadership based on your findings. Write a 750- to 1,050-word proposal, and include a link to your chosen financial statements. Format your proposal according to APA guidelines. Cite 3 peer-reviewed, scholarly, or similar references to support your paper. Click on the Assignment Files tab to submit your assignment. SupportingMaterial:Business Proposal Grading Guide ================================================= HCS 380 Week 5 WileyPLUS Ex 10-8A, Ex 10-8B, Ex 10-10A, Problem 11-2A, 11-7A For more course tutorials visit
22 This Tutorial contains Excel Sheet which can be used to solve All Wiley Problem for any numbers/values Complete the assigned exercises in WileyPLUS Excel Problem 10-8A Excel Problem 10-8B Excel Problem 10-10A Problem 11-2A Problem 11-7A P10-8A Prepare journal entries to record issuance of bonds, interest, straightline amortization, and balance sheet presentation and balance sheet presentation Yung Corporation sold $2,000,000, 7%, 5 year bonds on January 1, The bonds were dated January 1, 2014, and pay interest on January 1. The company uses straight-line amortization on bond premiums or discounts.
23 Instructions (a) Prepare all necessary journal entries to record the issuance of the bonds and bond interest expense for 2014, 102. (b) at 97. assuming the bond sold at Prepare journal entries as in part (a) assuming the bonds sold (c ) Show the balance sheet presentation for the bond issue at December 31, 2014, using (1) the 102 selling price, and price then (2) the 97 selling NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". P10-8B Prepare journal entries to record issuance of bonds, interest, straightline amortization, and balance sheet presentation
24 and balance sheet presentation Holmes Corporation sold $2,200,000, 8%, 5-year bonds on January 1, The bonds were dated January 1, 2014, and pay interest on January 1. Holmes Corporation uses the straight-line method to amortize bond premiums or discounts. Instructions (a) Prepare all necessary journal entries to record the issuance of the bonds and bond interest expense for 2014, assuming the bond sold at 102. (b) Prepare journal entries as in part (a) assuming g the bonds sold at 98. (c ) Show the balance sheet presentation for the bond issue at December 31, 2014, using (1) the 102 selling price, and price then (2) the 98 selling NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?".
25 P10-10A Prepare journal entries to record issuance of bonds, payment of interest, and amortization of bond discount using effective interest method. On January 1, 2014, Lock Corporation issued $1,800,000 face value, 5% 10 -year bonds at $1,667,518 This price resulted in an effective-interest rate of 6% on the bonds. Lock uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest January 1. Instructions: (Round all computations to the nearest dollar.)
26 (a) Prepare the journal entry to record the issuance of the bonds on January 1, (b) ============================================ HCS 380 Wileyplus Exercise 13 9 (Solution with Excel file) For more course tutorials visit Just enter the value and get the answer, this excel file will work for any value Kinder Company has these comparative balance sheet data: KINDER COMPANY Balance Sheets December Cash $ 34,290 $ 68,580 Accounts receivable (net) 160, ,160 Inventory 137, ,300 Plant assets (net) 457, ,480 ================================================= HCS 380 Wileyplus Exercise (Solution with Excel file) For more course tutorials visit
27 Just enter the value and get the answer, this excel file will work for any value The condensed financial statements of Elliott Company for the years 2013 and 2014 are presented below. ELLIOTT COMPANY Balance Sheets December 31 (in thousands) Current assets Cash and cash equivalents $330 $360 Accounts receivable (net) Inventory Prepaid expenses Total current assets 1,763 1,683 Property, plant, and equipment (net) Investments Intangibles and other assets Total assets $2,891 $2,761 Current liabilities $998 $968 Long-term liabilities Stockholders equity common 1,218 1,218 Total liabilities and stockholders equity $2,891 $2,761 ELLIOTT COMPANY Income Statements For the Year Ended December 31 (in thousands) Sales revenue $3,995 $3,655 Costs and expenses
28 Cost of goods sold 1,148 1,068 Selling & administrative expenses 2,400 2,330 Interest expense Total costs and expenses 3,558 3,418 Income before income taxes Income tax expense Net income $ 262 $ 142 Compute the following ratios for 2014 and (Round all answers to 2 decimal places, e.g or 12.61%.) (a) Current ratio. (b) Inventory turnover. (Inventory on December 31, 2012, was $400.) (c) Profit margin. (d) Return on assets. (Assets on December 31, 2012, were $2,700.) (e) Return on common stockholders equity. (Equity on December 31, 2012, was $990.) (f) Debt to assets ratio. (g) Times interest earned. =================================================
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