Week 3 Assignments - NEEL This is for you
twohope4
week_3.docxThis week you have 3 assignments to complete and submit. The first two assignments are calculation based, and will be graded for accuracy. The third assignment is your written work, and will be evaluated based upon its respective grading rubric.
In order to assist your work, I’ve provided some commentary, guidance and templates below (my suggestions are highlighted in orange). As with last week, you must copy and paste these templates to a Word (*.doc) file, complete them, annotate the file name with your name, and submit. Answers received in any format other than these templates will receive a 10% reduction in score.
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PROBLEM 5-24: a. (1): Show the numerical components and make the appropriate calculation. a. (2): Fill in the worksheet with the appropriate values;
a. (2): continued, provide the values and calculation;
b. provide a written explanation.
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PROBLEM 5-26: a. Show the numerical components and make the appropriate calculation. b. Show the numerical components and make the appropriate calculation. c. Show the numerical components and make the appropriate calculation. d. Fill in the worksheet with the appropriate values;
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PROBLEM 6-27: a. Use formula shown pp. 223-224, show all numerical components and make appropriate calculations for 2012, 2013 and 2014. b. Use the table below (and as seen in the problem), and fill in the values for purchase, recognition of revenue, depreciation and balance for the van. Use 'na' if not applicable. Indicate cash flow impact with either 'OA', 'IA', 'FA', 'na', or 'NC' (net change).
c. Show the values and perform the calculations in the format below; Sales Price $ Book Value ( ) (depreciated to salvage value; see a. above) Gain on Sale $
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PROBLEM 6-28: Calculate the depreciation for each company according to the method specified. a. Show the values and calculations for each company, using the following format, (three calculations required), and state which company has the highest net income for 2012; Company x (A, B, or C) - 2012 Revenue $ Depreciation Expense ( ) Net Income $ b. Using the format in (a), complete three calculations and identify which company has the lowest net income in 2014. c. Using the table below, show accumulated depreciation for each company (three calculations required), years 2012-2014, with corresponding calculations, and determine (identify) which company has the highest book value at the end of 2014; Company x (A, B or C) Accumulated Depreciation 2012 $ 2013 2014 Total $ Cost $ Accumulated Depreciation ( ) Book Value $
d. Using the table below, calculate retained earnings for each company (three calculations required) and determine which company (identify) has the highest amount of retained earnings on the 2015 balance sheet. Company x (A, B or C) Sales (four years) $ Depreciation (four years) ( ) Retained Earnings - 2015 $
e. Provide the answer with a descriptive comment.
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PROBLEM 6-32: a. Using the table below, provide all numerical entries and perform the calculations to determine the amount of goodwill purchased; Purchase Price $ Less: FMV of Assets Acquired Equipment $ Land Building Franchise _________ ( ) Goodwill Purchased $
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ATC 6-5: This requires a written response (essay format) to all three components of the question. Review the grading rubric for further guidance. |
Additional Resources (web links, videos, and articles):
