Southern New Hampshire University
ACC 308 - Intermediate Accounting II
Use the data from this Milestone and begin working on your final presentation due in Final Project (Module 7)
Using the Peyton Approved financial data (see bottom of page):
Create the necessary adjusting journal entries.
Use the REF column to reference the entry to each event
Complete the adjusted trial balance
REVISED FINANCIAL STATEMENTS
Using the preliminary financial statements (yellow tabs) and the Trial Balance 2017, prepare the following statements:
Current Ratio (Working Capital )
Return on Sales
Return on Equity
Return on Assets
PEYTON APPROVED FINANCIAL DATA
At 12/31/17, Peyton has $200 worth of merchandise on consignment at Bruno’s House of Bacon.
5. Note about later borrowing financials will show loan from parents repaid and use of bank financing.
INSTRUCTIONS FOR MILESTONE 1
(Due Module 3)
Make sure to
the Rubric for Milestone 1
ITEMS TO COMPLETE FOR THIS MILESTONE
You just began a position as a financial accountant at Peyton Approved. In this role, your first task is to prepare the company’s financials
for the year-end audit. Additionally, the company is interested in expanding its business within the next year. They would like your
support in assessing their ability to meet their goals.
TRIAL BALANCE 2017 TAB
Balance Sheet (BS 2017 Revised tab)
Income Statement (IS 2017 Revised tab)
Retained Earnings Statement (RE 2017 Revised tab)
Statement of Cash Flows (CF 2017 Revised tab)
Using the revised 2017 financial statements, 2016 financial statements (orange tabs), and 2015 financial statements
(orange tabs), prepare a ratio analysis with the following ratios:
Preliminary Financial Statements have already been prepared (2017 statements in the Final Project Workbook).