other students are interested:
Accounting - Corporations
A set of scenarios where you will perform various funtions regarding incorporation and statement of cash flows. Use the attached files. (4th Part has 2 worksheets)
Answer rating (rated one time)
All four parts
body preview (3 words)
here xxx go......................
file1.docx preview (135 words)
xxxxxxxxxxxxxxxxx is x xxxxx business xxxxx xx xx Phats xx the sole proprietor. xxxxxxx is xxxxxxxxxxxxx xxx business.
On January xx 2012 xxxxxxxxxxxxxxxxx xxxx xxx been authorized xx issue xxxxxxxxx xxxxxx shares xxxx a xxx xxxxx of $1. xx the process xx incorporating, the sole proprietor owner’x equity accounts xxxx be xxxxxx xxx xxx equity must xxx xxxxxxx a xxxxxxxxx xxxxxxxxxxxx’ xxxxxx account.
The books for the xxxx xxxxxxxxxxxxxx indicate xxx following:
xx Phats xxxxxxxxx $35,000 to xxxxx xxxxxxxxxxxxxxxxx
JJ Phats xxxxxxxxxxx xxxxxxx of xxxxxxxxx to start xxxxxxxxxxxxxxxxx
Retained xxxxxxxx December xxx 2011 x $150,000
Prepare the Stockholder’s xxxxxx xxxxxxx xx the xxxxxxx xxxxx on xxxxxxx 1, xxxxx
Stockholders xxxxxx Statement
Paid in Capital
xxxxxxxxx xxxxxxxxxxxxxx
Common xxxxx xx xxx xxxxx
(1000000 xxxxxx xx $1) $1000000
Closing xxxxxxxxxxxxxxxxxxxx
xxxxxxxx Earning
xxxxxxxxx xxxxxxxxxxxxxxxxxx
Net Income during Month __Nil___
Closing xxxxxxxxxxxxxxxxxxx
file2.docx preview (232 words)
JumpinJehosaPhats: xxxx 3 xxxxxxxxxxx
xxxxxxxxxxxxxxxxx was incorporated xx January xx 2012 xxx a xxxx xxxxx xx xxxxx $10,000,000 to expand operations. JJ xxxxx xx xxx xxxx xxxxxxxxxxx xx the xxxxxxxxxxxx
xxx corporation is xxxxxxxxxxx three methods to raise xxx capital:
issuing xxxxxx xxxxxx xx xxx
issuing preferred xxxxx xxxx xxx x xxxxx
issuing xx year xxxxx xxxx par x xxxxx
You have xxxx xxxxx to xxxxxxxxx xxx best way for the company to obtain xxx funds xxxxxx which xxxxx be a xxxxxx method or xxxxxxxxxxx xx xxxxxxxx Using xxx xxxxxxxxx xxxxxxxxxxxx discuss the xxxx xxx cons of each xxxxxx xxx xxxxxxx necessary xxxxxxxxxxxx to support xxx position xxx xxxxxxxxxx
The company xx xxxxxxxxxx xx xxxxx 1,000,000 shares xxxx x par xxxxx of $1.00
xx xxxxxxx xx 2013 an
- - - more text follows - - -
file3.xlsx preview (444 words)
Problem
| xxxxxxxxxxxxx Problem xx Part x | ||
| Bailey's Chocolates has provided xxxxxxxxxx xx xxxxxxxx earnings, xxxxxx xxxxxxxxxxx xxx xxxxxxx | ||
| sheets xxx the months of January and xxxxxxxx xxxxx The xxxxxxx xxxxx you to calculate xxx cash | ||
| xxxx from xxxxxxxxx xxxxxxxxxx for the xxxxxx ending xxxxxxxx 2012 xxxxx the xxxxxxxx xxxxxxx | ||
| xxxxx the Indirect Method xxxxxxx x xxxx xxxx xxxx xxxxxxxxx Activities. | ||
| Cash xxxxx from Operating Activities xxxxxxxxx xxxxxxx | ||
| xxx Income | x10795 | |
| Add | Non xxxx xxxxxxxx | |
| xxxxxxxxxxxx Expense-Building | x1500 | |
| Depreciation xxxxxxxxxxxxxxxxx | x250 | xx 1,750 |
| Add | xDecrease xx Assets | |
| Inventory | x470 | |
| Supplies | x30 | |
| Prepaid Office xxxxxxxxx | xxx | |
| Prepaid Rent | x1000 | |
| Prepaid xxxxxxxxx | x100 | x 1,650 |
| xxxx | xxxxxxxx xx Assets | |
| xxxxxxxx receivable | xxxx | |
| xxxx | xxxxxxxxx xx Current Liabilities | |
| xxxxxxxx xxxxxxx | xxxx | |
| xxxxxx xxxxxxx | 50 | xx (625) |
| Net xxxx Flow from Operating xxxxxxxxxx | x$13,570 |
xxxxx xxxxxxxxxxx
| xxxxxxxx xxxxxxxxxx | Bailey's Chocolates | ||||
| Income xxxxxxxxx | Income Statement | xBailey's Chocolates | |||
| Month xxxxxx xxxxxxx 31, xxxx | Month Ending February 29, xxxx | xxxxxxxxx of xxxxxxxx xxxxxxxx | |||
| Month xxxxxx January 31, xxxx | |||||
| xxxxxxx | xxxxxxxx | xxxxxxx | $23,000 | ||
| Cost xx Good xxxx | xx xxxxxxx | xxxxx of xxxx xxxx | x* xxxxxxx | Retained xxxxxxxxx January xx xxxx | xxxx |
| xxxxx - - - more text follows - - - |
file4.doc preview (467 words)
xxxxxxxxxxxxxx
xxx are an xxxxxxxxxx and xxxx xxx xxxxxxx xxx’xx xx dealing with during this xxxxxxxxxxx xxxxxxx xxxxxxxxxxx is x xxxxxxxxxxxx (Google it!), xxx is owned xx xxxx Phats. JJ is xxxxxxxxx xxx xxxxxxx xxx xx in need xx advice. He xxx come to xxx xx xxxxxxx the xxxxxx of xxx company.
xxxx 1 – Incorporating
xxxxxxx xx xxxxxx xxx xxxxxxxxxxxx of incorporating xxx xxxxxxxxx xxx advantages and xxxxxxxxxxxxxx xxx provide JJ xxxx xxxxxxxxxxxxxxxxx
Part x – Account Prep
xxxxx xxx xxxx provided, xxxxxx xxx xxxxx’s equity xxxxxxxx xxx xxx shareholder’x xxxxxx section of xxx balance sheet xxxxx the xxxxxxxxxxxxx of JumpinJehosaPhats.
Part x – xxxxxxxxx Considerations
xx xx in xxxx xx xxxxxxx xxxxx to expand xxx xxxxxxx and xxx identified the methods that xx is
- - - more text follows - - -
Buy this answer | Try it before you buy it |


