Resource: Balance Sheet and Cash Flow Statement Grading GuidePurpose of Assignment The purpose of this assignment is for students to initiate and complete a comprehensive financial plan. The ultimate result will be a set of pro forma financial statements including an Income Statement, Balance Sheet, and Cash Flow Statement. The student will develop requisite assumptions about the dollar values to be budgeted. Assignment Steps Again, we have an issue with Week 5 Assignment. I am so sorry about this. I will be referring these issues to the University. Let’s change the instructions to as follows:
Assignment Steps Create a balance sheet by doing the following:
Conduct an internet search or use a balance sheet from an assignment, or use an example of a balance sheet located in the textbook and locate a balance sheet.
Review and discuss in 350 words the assets, liabilities and stockholder’s equity items found on the balance sheet.
Create a balance sheet using the account names and balances below. Make assumptions about the dollar values of each account so that the balance sheet balances. Remember that assets will equal liabilities plus stockholders’ equity
Format assignment consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.
Cash 32,800
Accounts Payable 49,000
Property and equipment 98,000
Marketable Securities 3,000
Common Stock 10,000
Prepaid Rent 1,000
Inventories 39,800
Accounts Receivable 300
Long Term Debt 99,500
Retained Earnings 11,950
Current Portion of Long Term Debt 4,450
Goodwill 2,000