HCS 380 Week 1 Individual Assignment Reference Chart

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Reference Chart Instructions: 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)

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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 â&#x20AC;&#x201C; wileyplus prepare excel sheet Chapter 2 â&#x20AC;&#x201C; 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 \$2,357.0

7.

Inventory

2. Accounts receivable Income taxes payable 86.3

2,883.9

8.

3. Common stock Equipment 1,957.7

2,874.2

9.

4. Notes payable 342.9 5,818.9 5. Buildings payable 2,815.8 6.

10.

3,759.9

Mortgage payable

1,311.5

Retained earnings 11.

Accounts

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

Service revenue

7,500

Supplies expense

500 1,000 Supplies expense 600

2,400

Maintenance and repairs

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 Corporationâ&#x20AC;&#x2122;s balance sheet.

Accounts payable Accounts receivable Entry field with incorrect answer equipment

Accumulated depreciationâ&#x20AC;&#x201D; Buildings Cash Interest payable Goodwill Income taxes payable Inventory Stock investments (to be Land (in use) Mortgage payable Supplies

Equipment Prepaid rent

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 depreciationâ&#x20AC;&#x201D;buildings

52,166 Accounts payable

10,868 Notes payable

107,078 Accumulated depreciationâ&#x20AC;&#x201D;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 depreciationâ&#x20AC;&#x201D;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 depreciationâ&#x20AC;&#x201D;equipment

19,843

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HCS 380 Week 2 Team Assignment Financial Statement Components (2 PPT)

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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 MicrosoftÂŽ PowerPointÂŽ 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)

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Complete the assigned exercises in WileyPLUS.

You should see the following assignments that are due for a grade: Âˇ 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 -----------------------------------------------

HCS 380 Week 3 Individual Assignment Accounting Comparison (2 Papers)

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HCS 380 Week 3 Individual Assignment Accounting Comparison

Accounting Comparison

Instructions: Create a diagram comparing accrual and cash accounting. Also include a 350- to 700-word summary of the differentiation and uses of the two. 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 3 WileyPLUS Ex 13-9, Ex 13-13

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Complete the assigned exercises in WileyPLUS. Exercise 13-9

Exercise 13-13

Exercise 13-9

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

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

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

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 stockholdersâ&#x20AC;&#x2122; equity. (Equity on December 31, 2012, was \$940.) (f)

Debt to assets ratio. (g)

Times interest earned. -----------------------------------------------

HCS 380 Week 4 Individual Signature Assignment Financial Statement (2 Papers)

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Signature Assignment: Financial Statement Instructions: The community college instructor has asked for your help again. This time, he has asked for you to personally create a document he could give to his students. Write a 750- to 1,050-word paper in which you: • Explain the ways financial information is used in health care organizations. • Explain the use of the financial statement analysis as a method to address financial issues. • Analyze the effects of unusual or irregular items on financial statements. Format your paper 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 4 WileyPlus Ex 7-8, Ex7-14

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This Tutorial contains Excel Sheet which can be used to solve below mentioned Problem for any numbers/values

Complete the assigned exercises in WileyPLUS.

Chapter 7 - Excel Assignment (E7-8); Chapter 7 - Excel Assignment (E7-14: Cash Budget) Exercise 7-8

The following information pertains to Joyce Company. 1.

Cash balance per bank, July 31, \$7,419. 2.

July bank service charge not recorded by the depositor \$57. 3.

Cash balance per books, July 31, \$7,455. 4.

Deposits in transit, July 31, \$2,791. 5.

Note for \$2,091 collected for Joyce Company in July by the bank, plus interest \$55 less fee \$39. The collection has not been recorded by Joyce Company, and no interest has been accrued. 6.

Outstanding checks, July 31, \$705. Exercise 7-14 Enright Company expects to have a cash balance of \$63,550 on January 1, 2014. These are the relevant monthly budget data for the first two months of 2014. 1.

Collections from customers: January \$88,550, February \$163,550. 2.

Payments to suppliers: January \$57,550, February \$92,550. 3.

Wages: January \$30,161, February \$40,161. Wages are paid in the month they are incurred. 4.

Administrative expenses: January \$21,161, February \$24,161. These costs include depreciation of \$1,000 per month. All other costs are paid as incurred. 5.

Selling expenses: January \$15,161, February \$20,161. These costs are exclusive of depreciation. They are paid as incurred. 6.

Sales of short-term investments in January are expected to realize \$12,161 in cash. Enright has a line of credit at a local bank that enables it to borrow up to \$25,000. The company wants to maintain a minimum monthly cash balance of \$37,550.

Prepare a cash budget for January and February. -----------------------------------------------

HCS 380 Week 5 Individual Signature Assignment Cash Control (2 Papers)

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Signature Assignment: Cash Control Instructions: Write a 750- to 1,050-word paper in which you: • Explain the principles of internal control. • Explain the use of cash and internal controls to prevent fraud. • Explain why corporations invest in stocks and debt securities. • Explain how debt and stock investments are reported in financial statements. Format your paper 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 5 Team Assignment Business Proposal (2 Papers)

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HCS 380 Week 5 Team Assignment Business Proposal

For this assignment, you will use the consolidated financial statements you chose in Week Four. As a team, analyze your chosen consolidated financial statements and make recommendations to leadership based on your findings. Write a 750- to 1,050-word proposal, and include a link to your chosen financial statements. Format your proposal 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. SupportingMaterial:Business Proposal Grading Guide -----------------------------------------------

HCS 380 Week 5 WileyPLUS Ex 10-8A, Ex 10-8B, Ex 10-10A, Problem 11-2A, 11-7A

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This Tutorial contains Excel Sheet which can be used to solve All Wiley Problem for any numbers/values

Complete the assigned exercises in WileyPLUS

Excel Problem 10-8A

Excel Problem 10-8B

Excel Problem 10-10A

Problem 11-2A

Problem 11-7A

P10-8A

Prepare journal entries to record issuance of bonds, interest, straight-line amortization, and balance sheet and balance sheet presentation Yung Corporation sold \$2,000,000, 7%, 5 year bonds on January 1, 2014. The bonds were dated January 1, 2014, and pay interest on January 1. The company uses straight-line amortization on bond premiums or discounts. Instructions (a) Prepare all necessary journal entries to record the issuance of the bonds and bond interest expense for 2014, assuming the bond sold at 102. (b) Prepare journal entries as in part (a) assuming the bonds sold at 97. (c ) Show the balance sheet presentation for the bond issue at December 31, 2014, using (1) the 102 selling price, and then (2) the 97 selling price NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" . P10-8B

Prepare journal entries to record issuance of bonds, interest, straight-line amortization, and balance sheet and balance sheet presentation

Holmes Corporation sold \$2,200,000, 8%, 5-year bonds on January 1, 2014. The bonds were dated January 1, 2014, and pay interest on January 1. Holmes Corporation uses the straight-line method to amortize bond premiums or discounts.

Instructions (a) Prepare all necessary journal entries to record the issuance of the bonds and bond interest expense for 2014, assuming the bond sold at 102. (b) Prepare journal entries as in part (a) assuming g the bonds sold at 98. (c ) Show the balance sheet presentation for the bond issue at December 31, 2014, using (1) the 102 selling price, and then (2) the 98 selling price NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" .

P10-10A

Prepare journal entries to record issuance of bonds, payment of interest, and amortization of bond discount using effective interest method.

On January 1, 2014, Lock Corporation issued \$1,800,000 face value, 10 -year bonds at This price resulted in an effective-interest rate of

5% \$1,667,518

6% on the bonds. Lock uses the effectiveinterest method to amortize bond premium or discount. The bonds pay annual interest January 1.

Instructions: (Round all computations to the nearest dollar.) (a)

Prepare the journal entry to record the issuance of the bonds on January 1, 2014. & (b) ----------------------------------------------(c) HCS 380 Wileyplus Exercise 13 9 (Solution with Excel file)

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Kinder Company has these comparative balance sheet data:

KINDER COMPANY Balance Sheets December 31 2014 2013 Cash \$ 34,290

\$ 68,580

Accounts receivable (net)

160,020

Inventory

114,300

137,160

Plant assets (net)

457,200

137,160

411,480

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HCS 380 Wileyplus Exercise 13 13 (Solution with Excel file)

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Just enter the value and get the answer, this excel file will work for any value

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) 648 Inventory

655

585

Prepaid expenses

130

Total current assets

578

160 1,763 1,683

Property, plant, and equipment (net) 410 Investments

188

188

Intangibles and other assets 530

510

380

Total assets \$2,891 \$2,761 Current liabilities

\$998 \$968

Long-term liabilities 675

575

Stockholders’ equity—common

1,218 1,218

Total liabilities and stockholders’ equity \$2,891 \$2,761

ELLIOTT COMPANY Income Statements For the Year Ended December 31 (in thousands) 2014 2013 Sales revenue \$3,995 \$3,655 Costs and expenses Cost of goods sold 1,148 1,068 Selling & administrative expenses 2,400 2,330 Interest expense

10

20

Total costs and expenses 3,558 3,418 Income before income taxes 437 Income tax expense 175 Net income

237

95

\$ 262 \$ 142

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 \$400.) (c)

Profit margin.

(d) Return on assets. (Assets on December 31, 2012, were \$2,700.) (e) Return on common stockholdersâ&#x20AC;&#x2122; equity. (Equity on December 31, 2012, was \$990.) (f)

Debt to assets ratio.

(g)

Times interest earned.

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HCS 380 help A Clearer path to student success/newtonhelp.com

For more course tutorials visit Uophelp is now newtonhelp.com www.newtonhelp.com Reference Chart Instructions: Create a chart detailing the...

HCS 380 help A Clearer path to student success/newtonhelp.com

For more course tutorials visit Uophelp is now newtonhelp.com www.newtonhelp.com Reference Chart Instructions: Create a chart detailing the...