Week 4 Projects

FINA425-1201A-01 Budgeting

Assignment Name:

Unit 4 Individual Project

Deliverable Length:

3–4 pages

Details:

A quaint but well-established coffee shop, the Hot New Café, wants to build a new café for increased capacity. Define the key terms necessary to incorporate capital budgeting for this investment.

For this assignment, you must write a 3 – 4 page proposal on what the café managers should consider within their capital budget. You must also define the key terms necessary to understand capital budgeting. You must answer the following:
What should management of the new café include in their capital budget.
Identify at least 6 items
From the provided of list of 10 examples, review and compare Café Market Budgets and their cost of capital (I am to find or recommend usable sites?
Analyze and Compare at least two different café house/businesses
Define and describe Net Present Value (NPV) as it pertains to the new café.
Define and describe the internal Rate of Control
Define discounted cash flow and payback period

Objective:

? Analyze the cost of capital, capital budgeting, debt instruments and markets

ACCT315-1201A-01 Intermediate Accounting I

Assignment Name:

Unit 4 Group Project

Deliverable Length:

1–3 pages; Excel file

Details:

It is the end of a reporting period. Because there are more people than usual retiring this year, your manager has asked your accounting department to create 2 things:
A process documentation detailing the different methods of preparing income statements, specific sections of the income statement, and how to handle the special types of income statement items
Basic financial statements for your company
Visit the SEC’s Web site (http://idea.sec.gov/idea/searchidea/companysearch_idea.html).
Select a company filing of your choice that contains a multiple-step income statement.
Communicate your selection with your group (each of you should submit a different company).
Submit the link to this filing as proof of your research.
Prepare a process documentation that
is prepared in a professional manner because it will be the desktop guide used by others in the event of your absence to prepare the financial statements for Music Warehouse.
is in the form of a memorandum or as a numbered listing of items, depending on your individual preference.
includes the following elements:
a definition and description of the specific sections of the income statement
a description of the different methods of preparing income statements
an explanation of the conceptual guidelines for reporting income
how to handle the special types of income statement items

Using the information below, do the following:
Prepare a multiple-step income statement for Music Warehouse.
Prepare a statement of changes in stockholder’s equity for Music Warehouse.

Music Warehouse

Adjusted Trial Balance

December 31, 2008

Cash

Debit

$24,675

Credit

Accounts Receivable

5,625

Inventory

65,980

Land

93,000

Building

289,000

Accumulated Depreciation

75,000

Notes Payable

85,000

Accounts Payable

53,600

Interest Payable

4,750

Common Stock

10,000

Additional Paid-in Capital

120,000

Dividends

10,000

Retained Earnings

59,980

Sales

937,500

Sales Discounts

22,675

Cost of Goods Sold

723,000

Salaries

81,000

Utilities

8,900

Repairs & Maintenance

5,225

Telephone

2,850

Interest Expense

4,400

Depreciation Expense

9,500

$1,345,830

$1,345,830

The following is additional information needed for financial-statement preparation:
Loss as a result of hurricane damage on the building: $17,000 (assume that the building is not located in an area that sustains frequent hurricane damage.)
Loss because of the discontinuation of the cassette tape music segment: $26,875
Beginning of the year balance of common stock: $8,000 (assume that changes are related to issuance of common stock.)
Beginning of the year balance of additional paid-in capital: $102,000
Effective income tax rate: 35%

Objective:

? Understand the concepts of income, explain the conceptual guidelines for reporting income, and define the elements of an income statement.

? Classify the assets and liabilities of a balance sheet, explain the statement of changes in stockholders’ equity, and describe the Security and Exchange Commission (SEC) integrated disclosures and the major components of an income statement, compute income from continuing operations, and report the results from discontinued operations.

ACCT311-1201A-01 Principles of Financial Accounting

Assignment Name:

Unit 4 Individual Project

Deliverable Length:

1-2 pages

Details:

You are to complete the following task:

For each of the following errors, describe to a recently hired bookkeeper how it would be shown on a cash reconciliation:
The bank recorded a deposit of $200 as $2,000.
The company’s bookkeeper mistakenly recorded a deposit of $530 as $350.
The company’s bookkeeper mistakenly recorded a payment of $250 received from a customer as $25 on the bank deposit slip. The bank caught the error and made the deposit for the correct amount.
The bank statement shows a check written by the company for $255 was erroneously paid (cleared the account) as $225.
The bookkeeper wrote a check for $369 but erroneously wrote down $396 as the cash disbursement on the company’s records.

Grading Criteria

% of grade for this assignment

The bank recorded a deposit of $200 as $2,000.

20%

The company’s bookkeeper mistakenly recorded a deposit of $530 as $350.

20%

The company’s bookkeeper mistakenly recorded a payment of $250 received from a customer as $25 on the bank deposit slip. The bank caught the error and made the deposit for the correct amount.

20%

The bank statement shows a check written by the company for $255 was erroneously paid (cleared the account) as $225.

20%

The bookkeeper wrote a check for $369 but erroneously wrote down $396 as the cash disbursement on the company’s records.

20%

Objective:

? Assess financial accounting standards as they relate to presentation and disclosure in general purpose financial statements

? Evaluate, measure, value and present financial statements in conformity with GAAP relating to assets

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