# Accounting Help

I need help with an accounting assignment! Serious inquiries only, expecting an A, and must know there stuff!

24 Hours to complete!

2

>Sheet

1

and

for thebalance sheet and income statement in the appropriate shaded areas.

points

points

.

2012

2011 Percent

Percent

.0

.0

8.5

8.5

2.0)

.

0

)

– 0 100.0

62.5

0

629.7 542.0

ABC COMPANY

(in thousands)

2012 Percent 2011 Percent Amount Percent

6.0

8.7

1.

2.

3.

4.

5.

6.

1

2

Show work for partial credit:

3

Show work for partial credit:

4

Show work for partial credit:

5

Show work for partial credit:

6

Show work for partial credit:

7

Show work for partial credit:

8

Show work for partial credit:

9

Show work for partial credit:

10

Show work for partial credit:

11

Show work for partial credit:

12

Show work for partial credit:

13

Show work for partial credit:

14

Show work for partial credit:

15

Show work for partial credit:
ABC COMPANY

(in thousands)

 NAME: Instructions: This exam must be either completed in excel and uploaded; or can be printed and hand-written, then scanned into PDF form and uploaded. The exam consists of 1 large, cumulative problem testing your knowledge from both chapters. All parts of this exam will use the comparative balance sheets, income statements, and other information below. All sections necessary to complete are highlighted, please show your work for the ratio analyses for partial credit. EXAM 3 Complete the following using the comparative balance sheet, income statement, and other information: 1. Prepare a vertical analysis for 20 11 20 12 1 5 2. Prepare a horizontal analysis for 2012 for the balance sheet and income statement in the appropriate shaded areas. 15 3. Complete the ratio analyses for 2012 below the financial statements. (round to the nearest tenth) 30 Points 4 Below the ratio analyses, complete a statement of cash flow (indirect method) for the year ending December 31, 2012. 40 points ABC COMPANY COMPARATIVE BALANCE SHEETS DECEMBER 31 (in thousands) ASSETS Percent Amount Current Assets Cash and cash equvalents 53.0 50.0 Accounts Receivable (net) 3 7 4 8 Inventory 10 100.0 Total Current Assets 1 9 198.0 Investments (short-term) – 0 70.0 Property, plant, and equipment Equipment 573.2 450.0 Accumulated Depreciation – Equipment ( 14 (17 6 Total Assets 629.7 542.0 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities Accounts Payable 62.5 43.8 Bonds payable, due 2010 Total Liabilities 143.8 Stockholders’ equity Common Stock, \$10 par 32 5. 285.0 Paid-in-Capital in Excess – Common Stock 80.0 55.0 Retained Earnings 162.2 58.2 Total Liabilities and Stockholders’ Equity COMPARATIVE INCOME STATEMENTS FOR PERIOD ENDING DECEMBER 31 Sales Revenue 625.7 587.4 Cost of Goods Sold 340.0 342.3 Gross Profit 285.7 245.1 Operating Expenses Selling and Administrative Expenses 26.0 28.2 Depreciation Expense 68.0 72.4 Total Profit from Operations 191.7 144.5 Other Income Gain on Sale of Investment 4.0 Other Expenses Interest Expense 5.8 Income Before Income Taxes 189.7 13 Income Tax Expense 60.7 44.4 Net Income 129.0 94.3 OTHER INFORMATION (All occuring in 2012) Fully depreciated equipment costing \$60,000 was scrapped, no salvage, and equipment was purchased for \$183,200. Bonds payable for \$100,000 were retired by payment at their face amount on December 31, 2012. 5,000 shares of common stock were issued at \$13 for cash on December 31, 2012. Cash dividends were declared and paid on December 31, 2012, \$25,000. Net credit sales for 2012 were \$575,000 The market price of the company’s common stock on December 31, 2012 was \$13/share. RATIOS Answer What does this ratio mean? Current Ratio Show work for partial credit: Quick Ratio Receivables Turnover Average Collection Period Inventory Turnover Days in Inventory Profit Margin Asset Turnover Return on Assets Return on Common Stockholders’ Equity Earnings per Share Price-Earnings Ratio Payout Ratio Debt to Total Assets Ratio Times Interest Earned CASH FLOW STATEMENT FOR YEAR ENDING DECEMBER 31, 2012