Sample Answer
Accounting 100 Project
Financial Statements
Balance Sheet | ||||
Assets | 2015 | 2016 | 2017 | |
Current Assets | ||||
Cash | 12,996 | 14,500 | 17286 | |
Accounts receivable | 34,620 | 31,000 | 49317 | |
Net Sale | 511,773 | 468,065 | 611893 | |
Inventory | 48,201 | 46,000 | 53716 | |
Prepaid expenses | ||||
Short-term investments | ||||
Total current assets | 607,590 | 559,565 | 732,212 | |
Fixed (Long-Term) Assets | ||||
Land | 80030 | 80,030 | 121300 | |
Plant | 121,300 | 121,300 | 80030 | |
Equipment | 83,005 | 83,005 | ||
Intangible assets | ||||
Total fixed assets | 204,305 | 284,335 | 201,330 | |
Other Assets | ||||
Marketable Securitioe | 4,000 | 9,000 | 5000 | |
Other |
Ledger/T-Accounts
Date | Debit | Credit | Balance | |||
01-Jan | Invested Cash | $ 25,000 | ||||
02-Jan | ||||||
03-Jan | Bank loan | $ 20,000 | ||||
04-Jan | Equipment Purchased | $ 12,000 | ||||
05-Jan | Office Supplies Purchased | $ 2,600 | ||||
06-Jan | ||||||
07-Jan | Advertising Cost | $ 2,500 | ||||
08-Jan | Revenue earned on Account | $ 7,500 | ||||
09-Jan | ||||||
10-Jan | Revenue earned as Cash | $ 1,250 | ||||
11-Jan | Revenue earned on Account | $ 10,000 | ||||
12-Jan | ||||||
13-Jan | Account Payable(Paid) | $ 750 | ||||
14-Jan | ||||||
15-Jan | Revenue earned on Account | $ 2,750 | Employee Wages | $ 2,750 | ||
16-Jan | Revenue Earned in Cash | $ 4,300 | ||||
17-Jan | Advertisement | $ 2,500 | ||||
18-Jan | Received in Check | $ 1,500 | ||||
19-Jan | Revenued on Account | $ 1,600 | ||||
20-Jan | Paid toward Account Payable | $ 750 | ||||
21-Jan | Equipment Purchased | $ 8,500 | ||||
22-Jan | Revenue in Cash | $ 10,000 | ||||
23-Jan | ||||||
24-Jan | Utility Bills Paid | $ 1,000 | ||||
25-Jan | Revenued on Account | $ 3,000 | ||||
26-Jan | Advertising Cost | $ 2,500 | ||||
27-Jan | Account Payable(Paid) | $ 800 | ||||
28-Jan | Revenue in Cash | $ 9,100 | ||||
29-Jan | Employee Wages | $ 2,750 | ||||
30-Jan | Bank Loan Paid | $ 1,000 | ||||
Total | $ 96,000 | $ 40,400 | ||||
Balance | $ 55,600 |
Chart of Accounts-listing of all accounts with identification numbers
ASSETS | |||
100 | Cash | ||
101 | Revenue in Cash | $ 9,100.00 | |
102 | Revenue in Cash | $ 10,000.00 | |
103 | Received in Check | $ 1,500.00 | |
104 | Revenue Earned in Cash | $ 4,300.00 | |
105 | Revenue earned as Cash | $ 1,250.00 | |
106 | Invested Cash | $ 25,000.00 | |
107 | Bank loan | $ 20,000.00 | |
Total | $ 71,150.00 | ||
110 | Short-Term Investments | ||
111 | Advertising Cost | $ 2,500.00 | |
112 | Employee Wages | $ 2,750.00 | |
113 | Utility Bills Paid | $ 1,000.00 | |
114 | Advertisement | $ 2,500.00 | |
115 | Employee Wages | $ 2,750.00 | |
Total | $ 11,500.00 | ||
120 | Accounts | ||
121 | Account # | $ 7,500.00 | |
121 | Account #2 | $ 10,000.00 | |
122 | Account #3 | $ 2,750.00 | |
123 | Account #4 | $ 3,000.00 | |
Total | $ 23,250.00 | ||
130 | Liabilities | Equipments Purchased | $ 12,000.00 |
131 | Employee Wages | $ 2,750.00 | |
132 | Advertisement | $ 2,500.00 | |
133 | Utility Bills Paid | $ 1,000.00 | |
134 | Advertising Cost | $ 2,500.00 | |
135 | Account Payable(Paid) | $ 800.00 | |
136 | Bank Loan Paid | $ 1,000.00 | |
137 | Employee Wages | $ 2,750.00 | |
138 | Office Supplies Purchased | $ 2,600.00 | |
139 | Advertising Cost | $ 2,500.00 | |
140 | Account Payable(Paid) | $ 750.00 | |
Total | $ 31,150.00 |
Balance Sheet
ASSETS | |
Cash and Equivalents | |
Revenue in Cash | $ 9,100 |
Revenue in Cash | $ 10,000 |
Received in Check | $ 1,500 |
Revenue Earned in Cash | $ 4,300 |
Revenue earned as Cash | $ 1,250 |
Invested Cash | $ 25,000 |
Bank loan | $ 20,000 |
Revenue in Account 1 | $ 7,500 |
Revenue in account 2 | $ 10,000 |
Revenue in account 3 | $ 2,750 |
Revenue in account 4 | $ 3,000 |
Total Assets | $ 94,400 |
Liability | |
Equipments Purchased | 12000 |
Employee Wages | 2750 |
Advertisement | 2500 |
Utility Bills Paid | 1000 |
Advertising Cost | 2500 |
Account Payable(Paid) | 800 |
Bank Loan Paid | 1000 |
Employee Wages | 2750 |
Office Supplies Purchased | 2600 |
Advertising Cost | 2500 |
Account Payable(Paid) | 750 |
Total Liability | 31150 |
Owners Equity | |
Invested Cash | $ 25,000 |
Liability and Owner Equity | $ 56,150 |
Written Analysis
Question 1
The company seem to have a positive cash flow. According to Debt Ratio, in 2015, the company had a bigger burden in debt. The company has been able to reduce the debt over the two years. The asset to equity ratio has been maintained over the three years. Overall, 2017 was a good year for investors and the company in terms of income.
Question 2
The company has a positive balance sheet it has managed to have more income than expenses. By the end of the month, the company recorded incoming cash flow of $9600 and expenses totaling to $40,400 hence a profit of $55,600. The company expects to pay the borrowed loan comfortably. With the current payment rate of $1,000, the bank loan will be fully paid within three year.
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Question
Accounting 100 Project Summer 2018
This is a formal project, and the following standards are to be applied:

Accounting 100 Project
If help is needed, you may consult with the instructor. You are encouraged to send the instructor drafts of your work to make sure that you are on the right track. It is imperative that your initial category assignments, income statement and balance sheet are correct for problem one.
- All items must be typed, (using excel spreadsheets would be useful, but Word documents are also acceptable).
- Work must be collated in the following manner:
- Cover Sheet
- Problem 1 work (Financial Statements with proper headings) and brief written analysis.
- General Journal Entries (problem 2)
- Chart of Accounts-listing of all accounts with identification numbers (problem 2)
- Ledger/T-Accounts (problem 2)
- Financial Statements (problem 2)
- Written Analysis (problem 2)
- No projects will be accepted after the deadline. No exceptions. The project submission deadline is on or before Wednesday, August 1 at 11:59 PM. Your project must be uploaded to Blackboard. Early submission will be accepted and is encouraged.
- This project is worth 20 % of your overall course grade.
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