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please see attached file for course project
Course Project Title: Balance Sheet and Single-Step Income Statement
Objective
To prepare a comprehensive balance sheet and Single-Step Income Statement presented in good form and derived from a list of various accounts. The amounts relative to each account will be given and the student will learn to determine whether an account is a balance sheet account or a temporary account that belongs to the income statement. The accounts will be comprised of all the various subgroupings in the balance sheet (Current Assets, Investment, Fixed Assets, Intangibles, and Other Assets, as well as Current Liabilities, Long-term Liabilities, and the Equity sections).
Guidelines
Obtain the list of accounts under the title of Course Project in Doc Sharing Determine which accounts belong to the Balance Sheet and which accounts belong to the Income Statement Determine to which subgroup each account belongs Arrange the accounts in proper order and functionality Prepare a Comprehensive Balance Sheet in good form, dated 12/31/14 Prepare a Single-step Income Statement in good form for calendar year 2014 Put the Course Project in the Dropbox for the project in Week 7 Note: You will not have enough information to calculation EPS.
Obtain the list of accounts under the title of Course Project in Doc Sharing
Determine which accounts belong to the Balance Sheet and which accounts belong to the Income Statement
Determine to which subgroup each account belongs
Arrange the accounts in proper order and functionality
Prepare a Comprehensive Balance Sheet in good form, dated 12/31/14
Prepare a Single-step Income Statement in good form for calendar year 2014
Put the Course Project in the Dropbox for the project in Week 7
Note: You will not have enough information to calculation EPS.
Grading Rubrics
Category Points % Description Making proper selection of accounts relative to the balance sheet or the income statement 30 20 From the provided listing of accounts determine which accounts are Balance Sheet accounts and which accounts are Income Statement accounts. Putting the accounts into the proper subgroup according to functionality  15 10 Each account belongs to a particular subgroup. The student is to determine which subgroup the account belongs. This should be done according to functionality. Preparing the balance sheet in good form  45 30 Proper form is important in the preparation of the balance sheet. Examples can be found in the text. Preparing the income statement in good form  45 30 Proper form is important in the preparation of the income statement. Examples can be found in the text. Ensuring that the Balance Sheet and the Income Statement have been computed correctly 15 10 It is important that the balance sheet and income statement are computed correctly and have the correct totals. An incorrect total in any part of the financials can invalidate the entire project. Total 150 100 A quality project will meet or exceed all of the above requirements.
Category Points % Description Making proper selection of accounts relative to the balance sheet or the income statement 30 20 From the provided listing of accounts determine which accounts are Balance Sheet accounts and which accounts are Income Statement accounts. Putting the accounts into the proper subgroup according to functionality  15 10 Each account belongs to a particular subgroup. The student is to determine which subgroup the account belongs. This should be done according to functionality. Preparing the balance sheet in good form  45 30 Proper form is important in the preparation of the balance sheet. Examples can be found in the text. Preparing the income statement in good form  45 30 Proper form is important in the preparation of the income statement. Examples can be found in the text. Ensuring that the Balance Sheet and the Income Statement have been computed correctly 15 10 It is important that the balance sheet and income statement are computed correctly and have the correct totals. An incorrect total in any part of the financials can invalidate the entire project. Total 150 100 A quality project will meet or exceed all of the above requirements.
Category Points % Description
Category
Category
Points
Points
%
%
Description
Description
Making proper selection of accounts relative to the balance sheet or the income statement 30 20 From the provided listing of accounts determine which accounts are Balance Sheet accounts and which accounts are Income Statement accounts.
Making proper selection of accounts relative to the balance sheet or the income statement
Making proper selection of accounts relative to the balance sheet or the income statement
30
30
20
20
From the provided listing of accounts determine which accounts are Balance Sheet accounts and which accounts are Income Statement accounts.
From the provided listing of accounts determine which accounts are Balance Sheet accounts and which accounts are Income Statement accounts.
Putting the accounts into the proper subgroup according to functionality  15 10 Each account belongs to a particular subgroup. The student is to determine which subgroup the account belongs. This should be done according to functionality.
Putting the accounts into the proper subgroup according to functionality
Putting the accounts into the proper subgroup according to functionality
 15
 15
10
10
Each account belongs to a particular subgroup. The student is to determine which subgroup the account belongs. This should be done according to functionality.
Each account belongs to a particular subgroup. The student is to determine which subgroup the account belongs. This should be done according to functionality.
Preparing the balance sheet in good form  45 30 Proper form is important in the preparation of the balance sheet. Examples can be found in the text.
Preparing the balance sheet in good form
Preparing the balance sheet in good form
 45
 45
30
30
Proper form is important in the preparation of the balance sheet. Examples can be found in the text.
Proper form is important in the preparation of the balance sheet. Examples can be found in the text.
Preparing the income statement in good form  45 30 Proper form is important in the preparation of the income statement. Examples can be found in the text.
Preparing the income statement in good form
Preparing the income statement in good form
 45
 45
30
30
Proper form is important in the preparation of the income statement. Examples can be found in the text.
Proper form is important in the preparation of the income statement. Examples can be found in the text.
Ensuring that the Balance Sheet and the Income Statement have been computed correctly 15 10 It is important that the balance sheet and income statement are computed correctly and have the correct totals. An incorrect total in any part of the financials can invalidate the entire project.
Ensuring that the Balance Sheet and the Income Statement have been computed correctly
Ensuring that the Balance Sheet and the Income Statement have been computed correctly
15
15
10
10
It is important that the balance sheet and income statement are computed correctly and have the correct totals. An incorrect total in any part of the financials can invalidate the entire project.
It is important that the balance sheet and income statement are computed correctly and have the correct totals. An incorrect total in any part of the financials can invalidate the entire project.
Total 150 100 A quality project will meet or exceed all of the above requirements.
Total
Total
150
150
100
100
A quality project will meet or exceed all of the above requirements.
A quality project will meet or exceed all of the above requirements.
            Course Project Listing of Accounts:
Accounts Payable                                           $197,532
Account Receivable                                       165,824
Accrued Interest on Notes Payable                500
Accrued Liabilities                                           9,500
Accumulated Depreciations                           341,200
Additional Paid-in Capital                                37,500
Administrative Expenses                                350,000
Allowance for doubtful accounts                    1,850
Building                                                           975,800
Cash                                                                42,485
Common Stock                                              400,000
Copyrights                                                       105,000
Cost of Goods Sold                            1,000,000
Customer Deposits    
 (expected to be paid next year)                      420
Deposits with Vendors
 (based on a long-term purchase contract) 50,000
Depreciation Expense           
 (40% – Selling, 60% – Administrative)            100,000
Dividend Income                                             30,000
Goodwill                                                          100,000

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