Financial Statement and Analysis
BUS591 – Financial Statement and Analysis
Week 1 Homework Assignment Templates
Instructions: Only enter data in the yellow boxes. The remaining areas are already completed for you.
Save the file as follows: lastnamewk1.docx
Submit to the assignment box before the due date. (Late assignments will receive a late penalty).
Grading Rubric: There are a total of 68 “questions” for you to answer (as determined by the yellow box). Each item is worth 0.06 points for a total of 4.00 points.
P1-3B, Prepare an income statement, retained earnings statement, and balance sheet; discuss results. | | Instructions: | (a) Prepare an income statement and a retained earnings statement for the month of May and a balance sheet at May 31, 2012. | SPECIAL DELIVERY | Income Statement | For the Month Ended May 31, 2012 | Revenues | Account title | Amount | Expenses | Account title | Amount | | Account title | Amount | | Account title | Amount | | Account title | Amount | | Total expenses | Amount | Net income | Amount | | SPECIAL DELIVERY | Retained Earnings Statement | For the Month Ended May 31, 2012 | Retained earnings, May 1 | Amount | Add: | Account title | Amount | | Amount | Less: | Account title | Amount | Retained earnings, May 31 | Amount |
SPECIAL DELIVERY | Balance Sheet | May 31, 2012 | Assets | Account title | Amount | Account title | Amount | Account title | Amount | Total assets | Amount | | Liabilities and Stockholders' Equity | Liabilities | Account title | Amount | Account title | Amount | Total liabilities | Amount | Stockholders' equity | Account title | Amount | | Account title | Amount | | Total stockholders' equity | Amount | Total liabilities and stockholders' equity | Amount | | (b) Briefly discuss whether the company’s first month of operations was a success. | Enter text answer here. | | | | | (c) Discuss the
Week 1 Homework Assignment Templates
Instructions: Only enter data in the yellow boxes. The remaining areas are already completed for you.
Save the file as follows: lastnamewk1.docx
Submit to the assignment box before the due date. (Late assignments will receive a late penalty).
Grading Rubric: There are a total of 68 “questions” for you to answer (as determined by the yellow box). Each item is worth 0.06 points for a total of 4.00 points.
P1-3B, Prepare an income statement, retained earnings statement, and balance sheet; discuss results. | | Instructions: | (a) Prepare an income statement and a retained earnings statement for the month of May and a balance sheet at May 31, 2012. | SPECIAL DELIVERY | Income Statement | For the Month Ended May 31, 2012 | Revenues | Account title | Amount | Expenses | Account title | Amount | | Account title | Amount | | Account title | Amount | | Account title | Amount | | Total expenses | Amount | Net income | Amount | | SPECIAL DELIVERY | Retained Earnings Statement | For the Month Ended May 31, 2012 | Retained earnings, May 1 | Amount | Add: | Account title | Amount | | Amount | Less: | Account title | Amount | Retained earnings, May 31 | Amount |
SPECIAL DELIVERY | Balance Sheet | May 31, 2012 | Assets | Account title | Amount | Account title | Amount | Account title | Amount | Total assets | Amount | | Liabilities and Stockholders' Equity | Liabilities | Account title | Amount | Account title | Amount | Total liabilities | Amount | Stockholders' equity | Account title | Amount | | Account title | Amount | | Total stockholders' equity | Amount | Total liabilities and stockholders' equity | Amount | | (b) Briefly discuss whether the company’s first month of operations was a success. | Enter text answer here. | | | | | (c) Discuss the