Only have 17 dollarsYou will use Nov- Dec numbers in the yellow boxAsh
LISTEN TO AUDIO/VIDEO EXPLAINING THE GUIDANCE REPORT
Exercise/
Problem
Account to
be changed
Shares
Share price
$
Original
Amount
100000
20
Ch 2 Ex 1
Questions
YOUR ANSWERS
BASED UPON
COURSE START
DATE
A. Cash
Common stock
Paid-in-capital
B. Cash
Common stock
Paid-in-capital
C. Cash
Common stock
Ch 2 EX 3
Account to
be changed
Preferred stock, $100 par value, 10\%
Common par
Original
Amount
580000
10
YOUR ANSWERS
BASED UPON
COURSE START
DATE
A. Preferred shares issued
B. Shares issued of common
B. Average issued price of common
C. Paid-in-capital increase
D. Legal capital increase
Ch 2 Pb 3
Account to
be changed
Jan 3, Common Shares sold
Share price
Attoney cost
Original
Amount
5000
58
3300
YOUR ANSWERS
BASED UPON
COURSE START
DATE
3-Jan
Cash
Common stock
Paid-in-capital in excess of par common stock
Jan. 19
Cash
Preferred stock
Paid-in-capital in excess of par- Preferred stock
4-Feb
Organization costs
Common stock
Paid-in-capital in excess of par common stock
Investment in art work
Common stock
Paid-in-capital in excess of par common stock
Stockholders Equity
Common stock, $1 par-value, authorized 10,000 shares,
shares issued and outstanding
Preferred stock,10\%, $50 par, authorized 1000 shares
shares issued and outstanding
Total Capital Stock
Paid-in-Capital in excess of par:
Common stock
Preferred stock
Total Paid-in-Capital
Retained earnings
Total Shareholders Equity
Ch3 Ex 4
Account to
be changed
Original
Amount
549000
759200
Manufacturing costs
Sales
YOUR ANSWERS BASED UPON CO
Cost of goods manufactured
Beginning work in process
Manufacturing costs
Ending work in process
Cost of goods manufactured
Cost of goods sold
Beginning finished goods
Cost of goods manufactured
Ending finished goods
Cost of goods sold
Net income
Sales
Cost of goods sold
Operating expenses
Net income
Account to
be changed
Ch 3 Pb 2
Original
Amount
628000
56700
23500
231500
Sales
Work in process, Jan. 1
Advertising expense
Direct material purchases
YOUR ANSWERS
BASED UPON
COURSE START
DATE
a. Prepare a schedule of cost of goods manufactured in good form.
Direct materials used
Beginning raw materials inventory
Net purchases
Direct materials available
Less: Ending raw materials inventory
Direct materials used
Direct labor
Factory overhead
Indirect materials used
Indirect labor
Utilities
Taxes
Insurance
Depreciation
Total manufacturing costs
Add: Beginning work in process inventory
Less: Ending work in process inventory
Costs of goods manufactured
Sales
Cost of goods sold
Beginning finished goods inv.
Cost of goods manufactured
Goods available for sale
Less: Ending finished goods inv.
Cost of goods sold
Gross profit
Operating expenses:
Selling expenses:
Advertising
Sales staff salaries
Utilities
Taxes
Insurance
Depreciation
Total selling expenses
Administrative expenses:
Utilities
Taxes
Insurance
Depreciation
Total administrative exp.
Total operating expenses
Net income
Ashford University ACC206
Guidance Report
Week Two
YELLOW INDICATES ACCOUNT AMOUNTS CHANGED
Change Account to:
Based Upon Course Start Date
Jan-Feb
$
500000
20X6
600.000
11
Mar-Apr
11000
21
20X5
500.000
$
20X6
620.000
12
May-Jun
12000
22
20X5
500.000
20X6
640.000
13
5.200
62
3.600
5.400
66
3.900
5.600
70
4.200
12/31/X3
551.000
761.600
12/31/X2
12/31/X3
553.000
764.000
12/31/X2
12/31/X3
555.000
766.400
NSWERS BASED UPON COURSE START DATE
629000
57700
24500
232500
630000
58700
25500
233500
631000
59700
26500
234500
May-Jun
$
Jul-Aug
13000
23
20X5
500.000
$
20X6
660.000
14
Sept-Oct
14000
24
20X5
500.000
$
20X6
680.000
15
Nov-Dec
15000
25
20X5
500.000
$
100000
26
20X6
20X5
$ 700.000 $ 500.000
$
16
5.800
74
4.500
6.000
78
4.800
6.200
82
5.100
12/31/X2
12/31/X3
557.000
768.800
632000
60700
27500
235500
12/31/X2
12/31/X3
559.000
771.200
633000
61700
28500
236500
12/31/X2
12/31/X3
561.000
773.600
634000
62700
29500
237500
12/31/X2
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