Southern New Hampshire University ACC309 - Intermediate Accounting III IMPORTANT NOTE: This page contains new information the must be included in the final project but has not been in miles ITEMS TO COMPLETE FOR THIS MILESTONE: GENERAL ADJUSTING ENTRIES Prepare appropriate adjusting entries for patent Prepare appropriate adjusting entries for capitalization of machine repair ADJUSTED TRIAL BALANCE Prepare the adjusted trial balance REVISED FINANCIAL STATEMENTS Prepare a revised income statement - include comprehensive income Prepare a revised retained earnings statement Prepare a revised balance sheet EARNINGS PER SHARE Determine the impact on earnings per share caused by each expansion plan option INSTRUCTIONS FOR FINAL (Due Week 7) Make sure to completely review the Rubric for Final Project In preparation of the annual audit, prepare appropriate adjusting entries and post to the trial balance w adjusted trial balance and the preliminary 2017 statements (yellow tabs) to prepare revised financial statem Calculate the impact on earnings per share that the expansion options will cause. (Orange tabs) NOTES TO THE FINANCIAL STATEMENTS - Prepare in a Word document - see the rubric for final project A. Compose appropriate footnotes within a statement of comprehensive income in accordance w standards, such as GAAP, International Financial Reporting Standards, and SEC, as applicable. MANAGEMENT BRIEF - Prepare in a Word document - see the rubric for final project
FINANCIAL INFORMATION FOR THIS MILESTONE Stockholder Equity / Earnings per share Other Items I. Evaluate the company’s current performance based on the outcomes of relevant ratio analysis. J. Discuss types of accounting changes encountered and when retrospective and prospective approac K. Predict the impact of new credit policies or a change in product or markets based on relevant ratio L. Discuss relevant accounting standards for informing the company’s financial reporting strategies. M. Explain how the four-step process was used for effectively correcting and reporting errors in the rev Peyton Approved prides itself on transparency with shareholders and investors. The company has added t launched a new marketing campaign, which is estimated to bring in 20,000 new customers over the next 6 m The company expects this expansion will require an additional $1,000,000 of capital and generate an addi profit. The options are: 1) Issuing an additional $1,000,000 of 10%, 100-par convertible preferred stock (same class as is curre 2) Issue an additional $1,000,000 of 8% convertible bonds (same terms as the existing issue) 3) $500,000 each of preferred stock and bonds · On December 31, 20XX, the company repaired a packaging machine at cost of $27,000.00. It extend the life of the machine by four years. No depreciation is necessary this year.
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- Fall '17
- Sean Cote
- Balance Sheet, Generally Accepted Accounting Principles, Peyton