Accounting

Overview

Financial statements are reports that summarize all the accounting transactions that have taken place during a specific period of time.

Choose a publicly held company and, using the Internet, review its most current annual report. Evaluate the health of the corporation you picked based upon your analysis of its financial statements: balance sheets, income statements, cash flow statements, and statements of shareholders’ equity. Then, research a similar sized competitor for comparison.

Instructions

Write a 3–4 page report suggesting ways to improve the company’s financial health.

  1. Conduct a vertical, horizontal, and ratio analysis on four financial statements.
  2. Compare the ratio, which includes liquidity, profitability, and solvency, with the industry benchmark and one other comparable competitor.
  3. Synthesize the results of the three financial analysis tests to determine the overall health of the organization.
  4. Present an accurate interpretation of the company’s current financial health, including risks. Support your conclusions.
  5. Recommend three ways to improve the company’s financial health, including one example for each that has been used in the industry.
  6. Use three sources to support your writing, including the web address of your chosen company. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time within your assignment. For help with research, writing, and citation, access the library, or review library guides.

This course requires the use of Strayer Writing Standards (SWS). The library is your home for SWS assistance, including citations and formatting. Please refer to the Library site for all support. Check with your professor for any additional instructions.

The specific course learning outcome associated with this assignment is:

  • Develop business recommendations based on the financial health of a company.
 
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Accounting

I need all work shown so i undersnad how to do this.

Problem 1:

Able Corporation incurred the following costs.

Beginning direct materials inventory $16,000
Beginning work-in-process inventory $7,000
Beginning finished goods inventory $19,000
Ending direct materials inventory $16,000
Ending work in process $14,000
Ending finished goods $ 26,000
Factory supervisor’s salary $28,000
Depreciation on plant $12,000
Sales $800,000
Selling and administrative expenses $125,000
Plant maintenance $6,000
Plant utilities $11,000
Direct material purchases $215,000
Direct labor $240,000

Calculate the following.

  1. Direct materials used
  2. Cost of goods manufactured
  3. Cost of goods sold
  4. Operating income

problem 2:

Below is information from Job Card 506 for the Bearing Manufacturing Company.

Date started: June 15, 2015
Date Completed: July 24, 2015

Date Direct Materials Direct Labor Applied Factory Overhead Job Total
6/15/2015 $ 5,000
6/25/2015 $1,200 $600
6/27/2015 $2,300
7/6/2015 $ 1,540 $770
7/15/2015 $2,600
7/24/2015 $760 $380

Job 506 was sold on credit on July 24, 2015, for 180% of its cost.

Factory OH was applied on the basis of DL.

Required:

  1. Prepare the journal entries to record the costs incurred for Job 506 in 2015 for direct materials, direct labor, and factory overhead.
  2. Prepare the journal entry to record the completion of Job 506.
  3. What is the predetermined factory overhead rate for Bearing Manufacturing?
  4. Prepare the journal entries to record the sale of Job 506.

 
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