Accounting Project/ Presentation
The following will be done in order to complete this project.
Ø Choose a public corporation that trades on the SEC
Ø Provide Overview
o Background
o What do they do
o Pull their financial information (which can be found online)
§ Pull their 2017 Balance Sheet- Provide when their fiscal year is?
· Provide total assets and liabilities
o List some of their asset accounts and liabilities (list a min of 3-5 if applicable)
· Provide the Return on asset = Net Income/ Average total assets
§ Pull their 2017 Income Statement
· Provide total Revenue and Expenses
o List and talk about what are their key revenue and expense accounts (list a min of 3-5 if applicable)
· Calculate the Net Income/ Net Loss
o List who their financial auditors are
o Speak on 4 problems that each group will do and present (each person will present a problem) if you are a group with only 3 individuals then you will only have 3 problems. I will send this information out via email.
§ What I am looking for:
· Make sure to calculate and work out your problems and incorporate into your presentation
· Make sure you are comfortable with how you derived at your answers
· Be able to walk the class through how you worked out the problem in a high level
· Make sure what you are speaking on is relevant and make sense and ties back to the book and what we learned in the class
Admin
Ø Due Date: Monday, July 9th
Ø Work in Groups
Ø Everything needs to be presented in PowerPoint- Minimum of 5 slides (up to you on how you break up the information)
Ø No more 30 minutes.
1) Reliable Waterworks Corporation provides plumbing services. Transactions of Reliable Waterworks during the first year of operations are given below.
a) Received $11,000 cash and issued common stock to Sharon.
b) Paid $2,000 for equipment to be used for plumbing repairs.
c) Borrowed $10,000 from a local bank and deposited the money in the checking account.
d) Paid $300 in rent for the year.
e) Paid $200 for plumbing supplies to be used on various jobs next year.
f) Completed a plumbing repair for a law firm and received $3,000.
Calculate the amount of total assets at the end of the first year. Assume the plumbing supplies of $3,000 are left at the end of the year.
A) $2,200
B) $2,000
C) $21,000
D) $23,700
Wendy, Mayra
2) Merchant Corporation provides plumbing services. Transactions of Merchant during the first year of operations are given below.
a) Received $12,000 cash and issued common stock to Sharon.
b) Paid $1,600 cash for equipment to be used for plumbing repairs.
c) Borrowed $14,000 from a local bank and deposited the money in the checking account.
d) Paid $600 rent for the year.
e) Purchased $200 of office supplies by cash.
f) Completed a plumbing repair project for a local lawyer and received $3,000 cash.
Calculate the amount of total liabilities at the end of the first year.
A) $14,000
B) $12,000
C) $24,400
D) $3,000
Deavin
3) Sharon Foods, Inc. reported the following transactions for September 2017.
a) The business received $22,000 cash and issued common stock. It was credited to Common Stock.
b) The business purchased office equipment for $9,000 for which $2,500 cash was paid and the balance was put on a note payable.
c) Paid insurance expense of $1,500 cash.
d) Paid the September utility bill for $900 cash.
e) Paid $1,500 cash for September rent.
f) The business had sales of $11,000 in September. Of these sales, 60% were cash sales, and the balance was credit sales.
g) The business paid $8,000 cash for office furniture.
What are the total liabilities at the end of September, 2017?
A) $11,000
B) $1,500
C) $6,500
D) $9,000
Maria, DeVonna
64) The following transactions for the month of March have been journalized and posted to the proper accounts.
Mar. 1 The business received $7,000 cash and issued common stock to stockholders.
Mar. 2 Paid the first month’s rent of $500.
Mar. 3 Purchased equipment by paying $2,000 cash and executing a note payable for $6,000.
Mar. 4 Purchased office supplies for $700 cash.
Mar. 5 Billed a client for $12,000 of design services completed.
Mar. 6 Received $9,000 on account for the services previously recorded.
What is the balance in Accounts Receivable?
A) $9,000
B) $3,000
C) $6,000
D) $12,000
I need each problem worked out on 4 separate powerpoint show how you got the answer on the powerponit a total of 9 slides
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