financial accounting

ACT301_CT_Mod02_Opt1_Worksheet-2.xlsx

Important! Read First

Choose one of the following two assignments to complete this week. Do not do both assignments. Identify your assignment choice in the title of your submission.

Option 1: Income and Retained Earnings Statements for Buffalo Delivery Service

Scroll to the bottom of the page to download the ;Option 1 workbook ;file containing data and a workspace to enter your responses. ;This file will be your only delivery for this assignment.

Based on the accounts of the ledger of Buffalo Delivery Service (the first tab of the workbook), prepare an income statement and a retained earnings statement for the month of August 2014 and prepare a classified balance sheet for August on the second and third tabs respectively.

Then in the space provided on the fourth tab, write a short analysis and proposal regarding what Buffalo Delivery Service should do to control costs and attract more investors, identifying areas of concern from the investor’s perspective. Support your answer with specific reference to financial data. The written segment of your assignment should be 300-500 words in length and reference at least two credible sources (which may include the textbook) to support your analysis.

Option 2: Trial Balance for Bill’s Delivery Service

Scroll to the bottom of the page to download the ;Option 2 ;workbook ;file containing data and workspace to enter your responses. ;This file will be your only delivery for this assignment.

Based on the accounts of the ledger of Bill’s Delivery Service (the first tab of the workbook), fill in the missing amount for cash. On the second tab, prepare a trial balance, with the accounts arranged as illustrated in the required readings for the week. On the space provided on the third tab, write a few paragraphs describing what Bill’s Delivery Service should do to control costs and attract more investors, identifying areas of concern from the investor’s perspective. Support your answer with specific reference to financial data. The written segment of your assignment should be 300-500 words in length and reference at least two credible sources (may include the textbook) to support your analysis.