Two Rivers Inc TRI Financial Statements 

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Two Rivers Inc TRI Financial Statements

Two-Rivers Inc. (TRI) manufactures a variety of consumer products. The company’s founders have run the company for thirty years and are now interested in retiring. Consequently, they are seeking a purchaser, and a group of investors is looking into the acquisition of TRI. To evaluate its financial stability, TRI was requested to provide its latest financial statements and selected financial ratios. Summary information provided by TRI is presented in the attachment

a. Calculate the select financial ratios for the fiscal year Year 2. (use Excel)

b. Interpret what each of these financial ratios means in terms of TRI’s financial stability and operating efficiency.

Financial Accounting Case of Fishy Farms

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Financial Accounting Case of Fishy Farms

  • Develop journal entries, in a proper format, for all of the accounting transactions in January for Fishy Farm.
  • Create an income statement for the month of January for Fishy Farm.
  • Reconstruct the balance sheet for Fishy Farm as of January 31, 20×1.
  • Identify and discuss issues that JB should be concerned about regarding taking over the accounting function of the business.
  • If you were a banker, would you lend money to Fishy Farm?Why or why not?

 Principles of Financial Accounting

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Principles of Financial Accounting 

content:preparing a trial balance, closing jouranl entry, and post- closing trial balance

analyzing and recording adjusting journal entries

Attachment preview
Starbooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debit or credit balances. Assume the year ended on September 30, 2018.

The Volatility of A Firms Assets and The Leverage Effect

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The Volatility of A Firms Assets and The Leverage Effect

There is one question. ( I don’t need a very much detail answer) (200 – 250 words).

The intuition behind the benefits of financial leverage is that a firm can borrow funds that bear a certain interest rate but invest those funds in assets that generate returns in excess of that rate. Why would firms with high ROAs not keep leveraging up their firm by borrowing and investing the funds in profitable assets?

Preparing Journal Entries and Financial Statements Worksheet

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Preparing Journal Entries and Financial Statements Worksheet

The 3 problems relate to the following:

Problem #1 (first tab of the excel spreadsheet) – Preparing journal entries.

Problem #2 (second tab of the excel spreadsheet) – Preparing adjusting entries.

Problem #3 (third tab of the excel spreadsheet) – Preparing 3 financial statements namely the Income Statement, Balance Sheet, and Statement of Retained Earnings.

Make sure to save your solutions as an.xlsx file type with your name in the file name

Hint: Please note contained within Problem #1 (preparing journal entries) there is an entry required that is a “compound journal entry”.

Ratio Analysis and Balance Sheet of the QB Cloud Worksheet

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 Ratio Analysis and Balance Sheet of the QB Cloud Worksheet

 

As the fiscal year ends for a company, it is important to analyze how the company is performing to determine if there are issues to work on and successes to expand on.

As the owner of QB Cloud, you’re interested in finding out how well the company has done in the first three months of operations. Complete the following tasks using the Module 04 Analysis template Click for more options

  1. Using Microsoft Excel formulas, calculate a horizontal and vertical analysis for the first three months of QB Cloud’s operations for the profit and loss. Address the following questions:
    1. Identify and explain three horizontal analysis items that are not 0%.
    2. Identify and explain three vertical analysis items that are not 0%.
    3. Which expenses seem to be appropriated only to certain months? Do you believe this is the correct application or should they be appropriated differently? Why or why not?
  2. Using Microsoft Excel formulas, calculate a horizontal and vertical analysis for the first three months of QB Cloud’s operations for the balance sheet. Address the following questions:
    1. Identify and explain three horizontal analysis items that are not 0%.
    2. Identify and explain three vertical analysis items that are not 0%.
    3. Do you think the short timeframe being measured here impacts the reliability of your analysis? Why or why not?
  3. Using Microsoft Excel formulas, calculate the following ratios for QB Cloud and interpret the results:
    1. Debt Ratio (Total Liabilities/Total Assets)
    2. Current Ratio (Current Assets/Current Liabilities)
    3. Profit Margin (Net Income/Sales)

financial statements of Pacific, Inc., manufacturer of water toys

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financial statements of Pacific, Inc., manufacturer of water toys

CASE STUDY

You are auditing the December 31, 2017, financial statements of Pacific, Inc., manufacturer of water toys. During your inspection of the company garage, you discovered that a used truck not listed in the equipment subsidiary ledger is parked there. You ask the plant manager, about the vehicle, and she tells you that the company did not list the truck because the company was only leasing it. The lease agreement was entered into on January 1, 2017, with Rent-a-Truck Center.

You decide to review the lease agreement to ensure that the lease should be afforded operating lease treatment, and you discover the following lease terms.

1. Noncancelable term of 5 years.

2. Rental of $5,680 per year (at the end of each year). (The present value at 10% per year is $21,532.)

3. Estimated residual value after 5 years is $2,500. (The present value at 10% per year is $1,552.) Atlantic guarantees the residual value of $2,500.

4. Estimated economic life of the truck is 6 years.

5. Atlantic’s incremental borrowing rate is 10% per year.

You are a senior auditor writing a memo to your supervisor, the audit partner in charge of this audit, to discuss the above situation.

Be sure to include (a) why you inspected the lease agreement, (b) what you determined about the lease, and (c) how you advised your client to account for this lease. Explain every journal entry that you believe is necessary to record this lease properly on the client’s books. (It is also necessary to include the fact that you communicated this information to your client.)

 financial strengths and weaknesses, using its financial statements 

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 financial strengths and weaknesses, using its financial statements

provide a comprehensive analysis of The Home Depot Inc. financial strengths and weaknesses, using its financial statements and scrutinizing its annual report of 2011, provided.

  • Key contextual elements should include Income Statement, Common Sized Income Statement, Balance Sheet, Common Sized Balance Sheet, Management Discussion and Analysis from the Annual Report and other important data from the Annual Report, that demonstrate a clear understanding of the learning objectives discussed up to week 4 of this course.
  • Title page, Written Body, along with a Bibliography of any written references, images, or diagrams used. NOTE: Formal Written Reports must include a Title Page, Table of Contents, and Appendix of Financial Statements.
  • Formal Written Report

Formalities:

  • Word count: 2000 words
  • Cover, Table of Contents, References and Appendix are excluded of the total word count.
  • Font: Arial 12,5 pts.
  • Text alignment: Justified.
  • The in-text References and the Bibliography have to be in Harvard’s citation style.

Principles of Financial Accounting and Accounting Equation

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Principles of Financial Accounting and Accounting Equation

  1. Identify generally accepted accounting principles and the groups that help develop them.
  2. Identify the importance of ethics in accounting.
  3. Construct the accounting equation and define assets, liabilities, and owners equity.
  4. Analyze business transactions using the accounting equation.
  5. Prepare simple versions of the four basic financial statements.

Research of Emerging Accounting Issues

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Research of Emerging Accounting Issues

For this assignment, go to the “Status of Current Issues” page of the Financial Accounting Standards Board’s (FASB) Emerging Issues Task Force (EITF) website. Select a current issue that interests you and identify it for the assignment.

Write a 3–4 page paper in which you:

  1. Research the most important impact that the mission of the Emerging Issues Task Force (EITF) exerts upon the Financial Accounting Standards Board (FASB). Analyze the EITF’s effectiveness with finding resolutions to emerging accounting issues and make at least two recommendations as to how they could improve their effectiveness. Justify your recommendations.
  2. Research the issue you selected from the EITF’s “Status of Current Issues” page and analyze at least two key areas being addressed by the EITF.
  3. Analyze the primary manner in which a company’s accounting and financial reporting are likely to be impacted by the work being done by the EITF on the chosen issue, and make at least two recommendations as to the manner in which the EITF could improve a company’s accounting and financial reporting.
  4. Create an argument either in favor of or against the EITF recommendation(s) on the issue that you have selected. Provide support for your argument.
  5. Use at least three quality academic resources in this assignment. Use the Strayer Library to conduct your research. Note: Wikipedia and similar websites do not count as quality references.

Your assignment must follow these formatting requirements:

  • This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course.
  • Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
  • Include a cover page containing the title of the assignment, your name, your professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcome associated with this assignment is:

  • Evaluate the effectiveness of accounting standards relative to a given issue.