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Ratios Spreadsheet with answers

Ratios Spreadsheet with answers - Analysis of Ratios and...

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Analysis of Ratios and the Effects of Transactions Integrity Statement: By submitting this document I am representing that entry #3, its related ratios and documentation Principles of Financial Accounting - ACG 2021 are my original work. I have not worked with or discussed this work with any other individual or used anothers completed Spring 2010 Student Signature: Entry # 1 Cost of Sales = to 60 percent. Entry # 2 A physical count was done of Target's 1/31/2009 inventory. It was discovered that ending inventory for this date was overstated by $500 (million). You will need to make the adjusting entry for 1/31/09 to Inventory and Cost of Sales Entry # 3 Exceptional Accountants from UNF's ACG 2021 Class discovered that the Allowance for Doubtful Accounts (A.D.A.) should be increased from $1,010 to $1,810. The A.D.A. and Bad debt expense accounts should be adjusted. The 1:40 and 4:30 Class of ACG 2021 has been asked to: 2) Determine the Financial Ratios before and after the adjustment using the Ratios tab in this spreadsheet 3) Document the Ratio and its Numerator and Denominator before and after the adjusting entry on the summary below 4) In the Analysis section determine the effect (i.e. increase/decrease) of the adjusting entry on the Numberator and Denominator Journal Entry Date Accounts Dr. Cr 1) 1/31/2009 Accounts Receivable 2000 Sales 2000 Cost of Goods Sold 1200 Inventory 1200 2) 1/31/2009 Cost of Goods Sold 500 Inventory 500 3) Ratio Numerator
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