Set up 8 scenarios (word problems)

For the Journal Entry Section:

Set up 8 scenarios (word problems) that are used below.
Using the Excel spreadsheet under journal entries. Also prepare an Excel solution for this section and mark it “Solution JE”.
Financial Statements: Input the below information into Excel under Income Statement. Then do the Balance Sheet and Ratios, and Statement of Cash Flows.
Financial Analysis: Set up the Narrative in PowerPoint and Excel spreadsheet to walk the beginning Accounting Student into preparing a financial statement analysis with 5 ratios.
Company:
Journal Entries
Account Debit Credit
1
2
3
4
5
6
7
8

Income Statement
[Name]
[Time Period]
Financial Statements in U.S. Dollars
Revenue
Gross Sales 128000
Less: Sales Returns and Allowances
Net Sales 128000

Cost of Goods Sold
Beginning Inventory 45000
Add: Purchases 3000
Freight-in 2500
Direct Labor 0
Indirect Expenses
Inventory Available 50500
Less: Ending Inventory 3500
Cost of Goods Sold 47000

Gross Profit (Loss) 81000

Expenses
Advertising 2000
Amortization 0
Bad Debts 0
Bank Charges 0
Charitable Contributions 0
Commissions 0
Contract Labor 0
Depreciation 0
Dues and Subscriptions 0
Employee Benefit Programs 0
Insurance 0
Interest
Legal and Professional Fees 2000
Licenses and Fees 5000
Miscellaneous 0
Office Expense 2500
Payroll Taxes 0
Postage 0
Rent 4500
Repairs and Maintenance 500
Supplies 3000
Telephone
Travel
Utilities 2000
Vehicle Expenses
Wages 10000
Total Expenses 31500

Net Operating Income 49500

Other Income
Gain (Loss) on Sale of Assets
Interest Income
Total Other Income 0

Net Income (Loss) 49500

Balance Sheet with Ratios


ASSETS LIABILITIES
Current Assets Current Liabilities
Cash Accounts payable
Accounts receivable Short-term notes
(less doubtful accounts) Current portion of long-term notes
Inventory Interest payable
Temporary investment Taxes payable
Prepaid expenses Accrued payroll
Total Current Assets $0 Total Current Liabilities $0

Fixed Assets Long-term Liabilities
Long-term investments Mortgage
Land Other long-term liabilities
Buildings Total Long-Term Liabilities $0
(less accumulated depreciation)
Plant and equipment Total Liabilities $0
(less accumulated depreciation)
Furniture and fixtures SHAREHOLDERS' EQUITY
(less accumulated depreciation) Capital stock
Total Net Fixed Assets $0 Retained earnings
Total Shareholders' Equity $0


TOTAL ASSETS $0 TOTAL LIABILITIES & EQUITY $0

Balance Sheet Check OK

RATIOS
Current Ratio 0.00
Quick Ratio 0.00
Cash Ratio 0.00
Working Capital $0

Statement of Cash Flows
[Name] [Time Period]

Cash flows from operating activities
Cash received from customers
Cash paid for merchandise
Cash paid for wages and other operating expenses
Cash paid for interest
Cash paid for taxes
Other
Net cash provided (used) by operating activities

Cash flows from investing activities
Cash received from sale of capital assets (plant and equipment, etc.)
Cash received from disposition of business segments
Cash received from collection of notes receivable
Cash paid for purchase of capital assets
Cash paid to acquire businesses
Other
Net cash provided (used) by investing activities

Cash flows from financing activities
Cash received from issuing stock
Cash received from long-term borrowings
Cash paid to repurchase stock
Cash paid to retire long-term debt
Cash paid for dividends
Other
Net cash provided (used) in financing activities
Increase (decrease) in cash during the period
Cash balance at the beginning of the period
Cash balance at the end of the period
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