E5-14 Preparing and Interpreting Financial Statements

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The December 31, 2008 and 2007 adjusted trial balances for Sportlife Gym Corporation are shown below.

	2008		2007
	Debit	Credit	Debit	Credit
Cash	31,500		30,000
Accounts receivable	2,500		2,000
Supplies	13,000		13,000
Prepaid rent	3,000		3,000
Equipment	350,000		350,000
Accumulated depreciation		20,000		10,000
Other long term assets	20,000		12,000
Accounts payable		5,000		6,000
Unearned revenue		72,000		80,000
Income taxes payable		13,000		14,000
Long term debt		10,000		200,000
Contributed capital		214,000		50,000
Retained earnings		50,000		19,400
Dividends declared	5,000		-
Membership revenue		399,000		398,000
Coaching revenue		11,000		10,000
Salaries and wages expense	321,000		319,400
Rent expense	12,000		12,000
Depreciation expense	10,000		10,000
Other operating expenses	6,150		7,700
Interest revenue		750		700
Interest expense	600		15,000
Income tax expense	20,000		14,000
	794,750	794,750	788,100	788,100

Accounting Week 4 Explanation - Home Depot 2008

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Instructor Comments: You may want to use the audited financial statements for Home Depot (which can be found in your online text) as the company to evaluate. Week 4 Individual project: Assignment Type: Individual Project Deliverable Length: 5-10 PowerPoint slides / can include an Excel file for financial analysis Points Possible: 125 Due Date: 1/30/2011 11:59:59 PM CT Choose a public company in the food industry. Analyze the financial statements and assess whether the financial performance has improved or declined year-over-year. Analysis techniques include the following: * comparative financial statements * trend analysis * ratio analysis * percentage analysis Presentation of 5–10 PowerPoint slides that includes the following: * At least 3 slides relevant to the analysis prepared * An analysis of the performance of the firm based on the analysis tools used * A summary of the company's financial performance and assessment of whether it has improved or declined year-over-year in terms of profitability, asset utilization, and liquidity Background on Course Research Requirements: In the business world, it is important to use research to strengthen points made in presentations and projects. Learning to use the search functions in databases for research is a crucial critical thinking skill that complements other research techniques. There are two main types of databases. You must stay away from inferior Web sites with anonymous writers; articles found on consultant Web sites, and materials on Web sites that are not reputable. Dictionaries and encyclopedias most often repeat the information from textbooks. Acceptable Internet resources include, among others, government sites (especially for statistics). Wikipedia or any open source Web sites are not permitted. Please submit your assignment. For assistance with your assignment, please use your text, Web resources, and all course materials. Please refer to the following multimedia course material(s): * Unit 4: Preparing Financial Statements * Unit 4: Statements & Accounting Equation I have provided an excel template under Instructor Files that you can use instead of PowerPoint. We will discuss tools you can use for the ratio analysis in our first chat session of the week. We will look at liquidity, solvency, profitability, and management efficiency ratios in our weekly chat. Posted under Instructor Files is a Decision Guidelines for Financ­ial Statement Analysis that may be useful. Please use this as a guide to help you fill out the excel workbook template located under Instructor Files (you are not expected to complete all the ratios in the Decision Guidelines for Financial Statement Analysis). I have also posted under Instructor Files a template (excel workbook) you may use instead of creating a PowerPoint. This template will help you in apply the ratios. Please insert your narrative analysis/explanation of the ratios you use directly into the excel document, the last tab is designated for your conclusions. Submit only one document for this assignment.

Nurse-at home final project assignments

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            Nurse-at-Home, Part I

Nurse-at-Home is a for-profit company that provides long-term placement of nursing aides in private residences.

Download the December 31, 2003 and 2004 unadjusted trial balances for the company.

           

           

	Nurse-at-Home				Nurse-at-Home
	Unadjusted Trial Balance				Unadjusted Trial Balance
	31-Dec-03				31-Dec-04
		DEBIT	CREDIT
Current Assets:				Current Assets:		DEBIT	CREDIT
	Cash	$      35,000			Cash	$  50,000
	Allowance for Doubtful Accounts		$      10,000		Allowance for Doubtful Accounts		$  15,000
	Accounts Payable		50,000		Accounts Payable		50,000
	Income Taxes Payable		3,000		Income Taxes Payable		5,000
	Note Payable (Long Term) - Bank		25,000		Note Payable (Long Term) - Bank		20,000
	Bad Debt Expense	13,000			Bad Debt Expense	15,000
	Retained Earnings		25,000		Retained Earnings		47,000
	Marketing Expenses	85,000			Marketing Expenses	75,000
	Depreciation Expense	5,000			Depreciation Expense	6,000
	Salaries Expense	345,000			Salaries Expense	355,000
	Administrative Expenses	42,000			Administrative Expenses	35,000
	Prepaid Expenses	5,000			Prepaid Expenses	10,000
	Interest Expenses	3,000			Interest Expense	2,000
	Property, Plant and Equipment	70,000			Property, Plant and Equipment	75,000
	Accumulated Depreciation		5,000		Accumulated Depreciation		11,000
	Client Revenue		518,000		Client Revenue		530,000
	Accounts Receivable	75,000			Accounts Receivable	95,000
	Common Stock (10,000 shares -				Common Stock (10,000 shares -
	$1 par value - issued and outstanding)		10,000		$1 par value - issued and outstanding)		10,000
	Additional Paid-in-Capital		35,000		Additional Paid-in-Capital		35,000
	Income Taxes	3,000			Income Taxes	5,000
		$     681,000	$     681,000			$723,000	$723,000

Compute liquidity, solvency, and profitability ratios for Coca-Cola & Pepsi

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Instructions
(a) Compute the following liquidity ratios for 2004 for Coca-Cola and for PepsiCo and
comment on the relative liquidity of the two competitors.
(1) Current ratio. (4) Inventory turnover.
(2) Receivables turnover. (5) Days in inventory.
(3) Average collection period. (6) Current cash debt coverage.

Financial statement analysis: Better Yet

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Analyze financial data to determine a company's financial position, operating results, and resource flows.

The income statement, similar to a video, measures the firm's profitability over a period of time: one month, one quarter, or one year. The statement focuses on the operations of the firm and explains what was produced and sold. In essence, it summarizes revenues generated and the results.

Mark understands that managing profitability involves overseeing three interrelated factors: volume, cost, and price. He has given you the job of conducting an in-depth analysis of Better Yet's operating performance.