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HCS 380 Week 1 Individual Assignment Reference Chart Reference Chart Instructions: For more course tutorials visit www.tutorialrank.com 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 www.tutorialrank.com This Tutorial contains Excel Sheet which can be used to solve below mentioned Problem for any numbers/values

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 $2,291.1 7. Inventory $2,357.0 2. Accounts receivable 2,883.9 8. Income taxes payable 86.3 3. Common stock 2,874.2 9. Equipment 1,957.7

4. Notes payable 342.9 10. Retained earnings 5,818.9 5. Buildings 3,759.9 11. Accounts payable 2,815.8 6. 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:

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, 2014. (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 Entry field with incorrect answer Accumulated depreciation equipment Buildings Cash Interest payable Goodwill Income taxes payable Inventory Land (in use) Mortgage payable Supplies Equipment Prepaid rent Stock investments (to be

Exercise 2-5 These items are taken from the financial statements of Donavan Co. at December 31, 2014. Buildings $121,035 Accounts receivable 14,414 Prepaid insurance 3,661 Cash

13,545 Equipment 94,266 Land 70,013 Insurance expense 892 Depreciation expense 6,063

Interest expense 2,974 Common stock 68,640 Retained earnings (January 1, 2014) 45,760 Accumulated depreciation buildings 52,166 Accounts payable

10,868 Notes payable 107,078 Accumulated depreciation equipment 21,416 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 equipment 670 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 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, 2014. Problem 2-2A These items are taken from the financial statements of Tresh Corporation for 2014. Retained earnings (beginning of year) $34,462 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 Accounts receivable 16,448 Insurance expense 2,611 Salaries and wages expense

40,415 Accumulated depreciation equipment 19,843 ============================================= HCS 380 Week 2 Team Assignment Financial Statement Components (2 PPT) For more course tutorials visit www.tutorialrank.com 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 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 www.tutorialrank.com

Complete the assigned exercises in WileyPLUS. You should see the following assignments that are due for a grade: o 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 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 31. 3. 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. Instructions Prepare a correct income statement for July 2014. 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 BARONE COMPANY Adjusted Trial Balance January 31, 2014 Debit Credit Supplies $700

Prepaid Insurance 1,560 Salaries and Wages Payable $1,060 Unearned Service Revenue 750 Supplies Expense 950 Insurance Expense 520 Salaries and Wages Expense 1,800 Service Revenue 4,000 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 "?". 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

The following selected data are taken from the comparative financial statements of American Curling Club. The club prepares its financial statements using the accrual basis of accounting. Dues are billed to members based upon their use of the club's facilities. Unearned sales revenues arise from the sale of tickets to events, such as the Skins Game. Instructions (Hint: You will find it helpful to use T-accounts to analyze the following data. You must analyze these data sequentially, as missing information must first be deduced before moving on. Post your journal entries as you progress, rather than waiting until the end.) (a) Prepare journal entries for each of the following events that took place during 2014. 1. Dues receivable from members from 2013 were all collected during 2014. 2. During 2014, goods were provided for all of the unearned sales revenue at the end of 2013.

3. Additional tickets were sold for $44,000 cash during 2014, a portion of these were used by the purchasers during the year. The entire balance remaining in Unearned Sales Revenue relates to the upcoming Skins Game in 2014. 4. Dues for the 2013-2014 fiscal year were billed to members. 5. Dues receivable for 2014 (i.e., those billed in item (4) above ) were partially collected. (b) Determine the amount of cash received by American from the above transactions during the year ended September 30, 2014. NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". ============================================= HCS 380 Week 3 WileyPLUS Ex 13-9, Ex 13-13 For more course tutorials visit www.tutorialrank.com 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

Exercise 13-13 Exercise 13-9 Your answer is partially correct. Kinder Company has these comparative balance sheet data: KINDER COMPANY Balance Sheets December 31 2014 2013 Cash $ 29,895

$ 59,790 Accounts receivable (net) 139,510 119,580 Inventory 119,580 99,650 Plant assets (net)

398,600 358,740 $687,585 $637,760 Accounts payable $ 99,650 $ 119,580 Mortgage payable (15%)

199,300 199,300 Common stock, $10 par 279,020 239,160 Retained earnings 109,615 79,720

$687,585 $637,760 Additional information for 2014: 1. Net income was $30,600. 2. Sales on account were $377,000. Sales returns and allowances amounted to $26,600. 3. Cost of goods sold was $201,000.

4. Net cash provided by operating activities was $58,500. 5. Capital expenditures were $26,100, and cash dividends were $17,300. Compute the following ratios at December 31, 2014. Exercise 13-13 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) 2014 2013 Current assets Cash and cash equivalents $330 $360 Accounts receivable (net)

545 475 Inventory 640 570 Prepaid expenses 130 160 Total current assets

1,645 1,565 Property, plant, and equipment (net) 410 380 Investments 85 85

Intangibles and other assets 530 510 Total assets $2,670 $2,540 Current liabilities $895

$865 Long-term liabilities 660 560 Stockholders equity common 1,115 1,115 Total liabilities and stockholders equity

$2,670 $2,540 ELLIOTT COMPANY Income Statements For the Year Ended December 31 (in thousands) 2014 2013 Sales revenue $3,980

$3,640 Costs and expenses Cost of goods sold 1,045 965 Selling & administrative expenses 2,400 2,330

Interest expense 10 20 Total costs and expenses 3,455 3,315 Income before income taxes 525

325 Income tax expense 210 130 Net income $ 315 $ 195 Compute the following ratios for 2014 and 2013. (Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.) (a)

Current ratio. (b) Inventory turnover. (Inventory on December 31, 2012, was $380.) (c) Profit margin. (d) Return on assets. (Assets on December 31, 2012, were $1,950.) (e)

Return on common stockholders equity. (Equity on December 31, 2012, was $940.) (f) Debt to assets ratio. (g) Times interest earned. ============================================= HCS 380 Week 3 WileyPLUS Ex 13-9, Ex 13-13 For more course tutorials visit www.tutorialrank.com 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