Financial Statement and Analysis

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BUS591 – Financial Statement and Analysis

Week 1 Homework Assignment Templates

Instructions: Only enter data in the yellow boxes. The remaining areas are already completed for you.

Save the file as follows: lastnamewk1.docx

Submit to the assignment box before the due date. (Late assignments will receive a late penalty).

Grading Rubric: There are a total of 68 “questions” for you to answer (as determined by the yellow box). Each item is worth 0.06 points for a total of 4.00 points.

P1-3B, Prepare an income statement, retained earnings statement, and balance sheet; discuss results.| |
Instructions:|
(a) Prepare an income statement and a retained earnings statement for the month of May and a balance sheet at May 31, 2012.| SPECIAL DELIVERY|
Income Statement|
For the Month Ended May 31, 2012|
Revenues|
Account title| Amount|
Expenses|
Account title| Amount|  |
Account title| Amount|  |
Account title| Amount|  |
Account title| Amount|  |
Total expenses| Amount|
Net income| Amount|
|
SPECIAL DELIVERY|
Retained Earnings Statement|
For the Month Ended May 31, 2012|
Retained earnings, May 1| Amount|
Add:| Account title| Amount|
| Amount|
Less:| Account title| Amount|
Retained earnings, May 31| Amount|

SPECIAL DELIVERY|
Balance Sheet|
May 31, 2012|
Assets|
Account title| Amount|
Account title| Amount|
Account title| Amount|
Total assets| Amount|
|
Liabilities and Stockholders' Equity|
Liabilities|
Account title| Amount|
Account title| Amount|
Total liabilities| Amount|
Stockholders' equity|
Account title| Amount|  |
Account title| Amount|  |
Total stockholders' equity| Amount|
Total liabilities and stockholders' equity| Amount|
|
(b) Briefly discuss whether the company’s first month of operations was a success.| Enter text answer here.|
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(c) Discuss the...
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