ACC 309 Final Project Milestone 1 Workbook.xlsx - Southern New Hampshire University ACC309 Intermediate Accounting III MILESTONE 1(Due in Module 3

ACC 309 Final Project Milestone 1 Workbook.xlsx - Southern...

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Southern New Hampshire UniversityACC309 - Intermediate Accounting III1.1.Prepare adjusting entries for:Unrealized losstax issues2Calculate pension payouts3Prepare adjusting entries for:Capital leasesPension payoutsMILESTONE 1 (Due in Module 3)MILESTONE 2 (Due in Module 5)Calculate capital lease obligationsSee rubric for written portion of milestone 1See rubric for written portion of milestone 2Adjusting entriesCapital LeasesInstructions Milestone 1Instructions Milestone 2PensionsAdjusting entries
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1.Prepare adjusting entries for:Patent Major repair capitalization2Complete adjusted trial balance34FINAL PROJECT (Due in Module 7)Prepare revised financial statementsPrepare a statement of comprehensive income - include on the revised income statementDetermine the impact of expansion options on earnings per shareSee rubric for written portion of the final projectAdjusting EntriesInstructions Final ProjectAdjusted Trial BalanceRevised Financial StatementsEarnings per Share
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PEYTON APPROVEDTRIAL BALANCEAs of December 31, 2017Dr Cr Cash1,488,999.34 Marketable Securities5,500,000.00 Accounts Receivable7,092,495.88 Baking Supplies1,605,098.52 Merchandise Inventory128,152.63 Prepaid Rent71,877.07 Prepaid Insurance207,834.14 Misc. Supplies17,647.42 Land250,000.00 Building1,250,000.00 Baking Equipment2,254,140.00 Accumulated Depreciation328,282.00 PatentAccounts Payable1,555,212.85 Wages Payable250,203.31 Interest Payable21,888.22 Current Portion of Bonds Payable1,000,000.00 Income Taxes Currently Payable1,042,118.16 Accrued Pension LiabilityAccrued Employees Health InsuranceLease LiabilityDeferred Tax Liability3Bonds Payable4,000,000.00 Preferred Stock500,000.00 Common Stock1,750,000.00 Beginning Retained earnings2,213,122.59 Dividends - Preferred50,000.00 Dividends - Common5,250,000.00 Bakery Sales33,881,157.15 Merchandise Sales124,795.80 Cost of Goods Sold - Baked10,954,907.36 Cost of Goods Sold - Mercha 88,994.79 Rent Expense1,576,731.95 Wages Expense2,604,526.23 Misc. Supplies Expense263,224.56 Repairs and Maintenance47,353.05 Business License Expense211,757.65
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Misc. Expense141,171.08 Depreciation Expense634,520.00 Insurance Expense112,937.69 Advertising Expense160,413.49 Interest Expense484,703.27 Telephone Expense50,821.34 Pension ExpenseRetired Employees Health Ins.Patent AmortizationUnrealized Gain/(Loss) on Marketable Securities Held for Sale1Income Taxes4,168,472.62 2Deferred tax Expense46,666,780.08 46,666,780.08 (1)(2)(3)(4)(5)(6)(7)(8)
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Adjusting entries Dr Cr Dr Cr 1,488,999.34 1265,000.00 5,235,000.00 7,092,495.88 1,605,098.52 128,152.63 71,877.07 207,834.14 17,647.42 250,000.00 1,250,000.00 2,254,140.00 328,282.00 - 1,555,212.85 250,203.31 21,888.22 1,000,000.00 2118,200.25 1,160,318.41 - - - - 50,325.25 (50,325.25)4,000,000.00 500,000.00 1,750,000.00 2,213,122.59 50,000.00 5,250,000.00 33,881,157.15 124,795.80 10,954,907.36 88,994.79 1,576,731.95 2,604,526.23 263,224.56 47,353.05 211,757.65
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141,171.08 634,520.00 112,937.69 160,413.49 484,703.27 50,821.34 - - - - 265,000.00 265,000.00 - 118,200.25 4,286,672.87 3 50,325.25 (50,325.25)433,525.50 433,525.50 46,734,655.08 46,734,655.08 milestone 1 milestone 1 milestone 1 milestone 2 milestone 2 milestone 2 final final
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Southern New Hampshire UniversityACC309 - Intermediate Accounting IIIIMPORTANT NOTE:Use the data from this Milestone and begin working on your final presentation due in Week 7ITEMS TO COMPLETE FOR THIS MILESTONE:GENERALIn preparation of the annual audit, prepare appropriate adjusting entries and post to the trial baADJUSTING ENTRIESPrepare adjusting entries for unrealized lossPrepare adjusting entries for tax issuesFINANCIAL INFORMATION FOR THIS MILESTONEComprehensive income itemsTax information and implications INSTRUCTIONS FOR MILESTONE 1 (Due Week 3)Make sure to completely reviewthe Rubric for Milestone 1MANAGEMENT BRIEF - Prepare i
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