| Student Name:------------------- |
| IP THREE |
| | Please post two files for this assignment: |
| | Word file discussion the following: |
| | 1-The elements of the balance sheet, their purposes, and how to measure them |
| | 2-The elements and purpose of the statement of changes in stockholder's equity |
| | Excel file- Please complete the following statements: |
| The Flower Shoppe |
| Income Statement |
| For the Year Ended December 31, 2008 |
| Revenues: |
| | Sales |
| | Returns |
| | Net Sales |
| Expenses: |
| | Purchases |
| | Salaries |
| | Supplies |
| | Utilities |
| | Telephone |
| | Bank Charges |
| | Depreciation |
| | Total expenses |
| Net income |
| The Flower Shoppe |
| Statement of Retained Earnings |
| For the Year Ended December 31, 2008 |
| Beginning Balance, January 1, 2008 |
| | Net income |
| | Dividends |
| Ending Balance, December 31, 2008 |
| The Flower Shoppe |
| Balance Sheet |
| 31-Dec-08 |
| Assets |
| Current assets: |
| | Cash |
| | Accounts receivable |
| | Inventory |
| | Total current assets |
| Property, plant and equipment: |
| | Land |
| | Building |
| | Less accumulated depreciation |
| | Total property, plant and equipment |
| Total Assets |
| Liabilities and Stockholder's Equity |
| Current liabilities: |
| | Accounts payable |
| | Accrued expenses |
| | Total current liabilites |
| Stockholder's equity |
| | Common Stock |
| | Additional Paid-in Capital |
| | Retained Earnings |
| | Total stockholder's equity |
| Total liabilities and stockholder's equity |
| The Flower Shoppe |
| Statement of Cash Flows |
| For the Year Ended December 31, 2008 |
| Cash flows from operating activities: |
| | Net Income |
| | Adjustments to reconcile net income to net cash provided by operating activities: |
| | Depreciation |
| | Decrease in accounts receivable |
| | Decrease in inventory |
| | Increase in accounts payable |
| | Decrease in accrued liabilities |
| | Net cash provided by operating activities |
| Cash flows from investing activities: |
| | Purchase of land |
| | Net cash used for investing activities |
| Cash flows from financing activities: |
| | Payment of dividends |
| | Net cash used for financing activities |
| Net increase in cash |
| Cash balance, January 1, 2008 |
| Cash balance, December 31, 2008 |
dranfl
ip_three_template_1.xlsx
