Accounting II homework Help!!!!

[INSERT TITLE HERE] 2

Running head: [INSERT TITLE HERE]

[INSERT TITLE HERE]

Student Name

Allied American University

Author Note

This paper was prepared for [INSERT COURSE NAME], [INSERT COURSE ASSIGNMENT] taught by [INSERT INSTRUCTOR’S NAME].

ACC 227: Principles of Accounting II

Module 4 Homework Assignment

Directions: Please use an Excel Spreadsheet to present your homework (note: if you have a Mac, you may use Pages). Accounting homework cannot be accomplished in Microsoft Word. Please use the presentations that have been provided with the course as reference. Also, you may use the Generic Working Papers Excel Workbook found in the Course Resources to complete this assignment. Please visit the Course Resources section. Please note that you may have additional written homework alongside these application assignments.

Please complete the following exercises found at the end Chapter 17:

• Problem Set A: Problem 17-2A

Problem Set A: Problem 17-4A

Beyond the Numbers: BTN 17-3

Serial Problem: SP 17, Business Solutions (course-long project)

Please complete the following exercises found at the end Chapter 18:

• Problem Set A: Problem 18-2A

Problem Set A: Problem 18-5A

Beyond the Numbers: BTN 18-3

Serial Problem: SP 18, Business Solutions (course-long project)

COURSE-LONG PROJECT DIRECTIONS: This course contains a course-long project in which you will work on a variety of problems in regards to a computer services company called Business Solutions. Each module will build upon one another, so it is important to complete each part successfully.

Please note that there are 8 total parts to the course-long project. You will have 1 week to complete each part.

This course-long project is a serial problem taken from your textbook. You can view the problem starting in Chapter 13. It will continue through Chapter 25. Please use the Generic Working Papers Excel Workbook found in the Course Resources to complete this project.

COURSE-LONG PROJECT: PART IV (Module 4)

Scenario: On October 1, 2015, Santana Rey launched a computer services company, Business Solutions, that is organized as a proprietorship and provides consulting services, computer system installations, and custom program development. Rey adopts the calendar year for reporting purposes and expects to prepare the company’s first set of financial statements on December 31, 2015.

Chapter 17: Serial Problem: SP 17, Business Solutions

Please complete the following:

Use the following selected data from Business Solutions’s income statement for the three months ended March 31, 2016, and from its March 31, 2016, balance sheet to complete the requirements below:

computer services revenue, $25,307; net sales (of goods), $18,693; total sales and revenue, $44,000; cost of goods sold, $14,052; net income, $18,833; quick assets, $90,924; current assets, $95,568; total assets, $120,268; current liabilities, $875; total liabilities, $875; and total equity, $119,393.

Required

• Compute the gross margin ratio (both with and without services revenue) and net profit margin ratio (round the percent to one decimal).

Compute the current ratio and acid-test ratio (round to one decimal).

Compute the debt ratio and equity ratio (round the percent to one decimal).

What percent of its assets are current? What percent are long term (round the percent to one decimal)?

Chapter 18: Serial Problem: SP 18, Business Solutions

Please complete the following:

Santana Rey, owner of Business Solutions, decides to diversify her business by also manufacturing computer workstation furniture.

Required

• Classify the following manufacturing costs of Business Solutions as either (a) variable or fixed and (b) direct or indirect.

Variable or Fixed

Direct or Indirect

Product Costs

Variable

Fixed

Direct

Indirect

1. Monthly flat fee to clean workshop

2. Laminate coverings for desktops

3. Taxes on assembly workshop

4. Glue to assemble workstation component parts

5. Wages of desk assembler

6. Electricity for workshop

7. Depreciation on tools

• Prepare a schedule of cost of goods manufactured for Business Solutions for the month ended January 31, 2016. Assume the following manufacturing costs:

• Direct materials: $2,200

Factory overhead: $490

Direct labor: $900

Beginning work in process: none (December 31, 2015)

Ending work in process: $540 (January 31, 2016)

Beginning finished goods inventory: none (December 31, 2015)

Ending finished goods inventory: $350 (January 31, 2016)

• Prepare the cost of goods sold section of a partial income statement for Business Solutions for the month ended January 31, 2016.