ACC501-mod2-case-

ACC501-mod2-case- - Huffnpuff 1 Income statements for Harry...

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Huffnpuff - 1 - Income statements for Harry Huffnpuff Glassblowing Module 2 Case Assignment ACC501 – Accounting for Decision Making Dr. Dereshiwsky August 10, 2008
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Huffnpuff - 2 - Introduction Harry Huffnpuff has asked us to put his financial information into an income statement. He is a skilled glassblowing artist who has worked for various companies over the last 25 years. He has honed his craft so much, he has decided to take a large chunk of his life savings and start his own company with the assistance of one employee, Sam. For this module, we will look at two income statements (one in traditional format and another in contribution format) for 2006. We will then calculate the breakeven point for Harry’s company with an amount listed that he wants to make for the year. Finally, we will prepare a summary of recommendations for Harry to improve his cash flow. Income Statement – Traditional format Traditional Income Statement -  2006 Sales/Revenue 136,000.0 0 Less Operating 
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ACC501-mod2-case- - Huffnpuff 1 Income statements for Harry...

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