Creating A Balance Sheet and Cash Flow Statement Project
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Creating A Balance Sheet and Cash Flow Statement Project
Question Description
Order No-win this lesson you will practice creating a balance sheet and cash flow statement. You will apply this experience to your own financial statements. Your balance sheet should look similar to the one found on page 74 of your textbook (Table 3-2). Your cash flow statement should look similar to the one found on page 77 (Table 3-3) of your textbook. For the balance sheet, you should have between 3-4 columns, for the cash flow statement, you should have 3 columns.
Hint: The far-right column on each sheet is a percentage. Did you figure out where are they getting that percentage from? On the balance sheet, your total assets represent the 100% baseline, so (look on page 74) the total assets were $372, 620→ $372,620/$372,620= 100%. Now we take each individual asset and divide it by $372,620. For instance, cash on hand was 260→ 260/372,620= 0.0006977, move the decimal place twice (because in order to find a percent we need to multiply the number by 100) and that gives you 0.07%; cash on hand represents 0.07% of the total assets. This also applies to the liabilities on the balance sheet.
All of the individual liabilities are divided by the total liabilities ($372,620). For instance, the dentist bill due was 120→ 120/372,620 is 0.000322, move the decimal place twice and you have 0.03%; the dentist bill represents 0.03% of the total liabilities. Now for the cash flow statement. It is just like the balance sheet in that we are going to use a number as our baseline. In the income section, it is the total income that represents our 100%. See page 77 (Table 3-3); all of our individual income figures are going to be divided by the total income.
For instance, total income is $89,000: Victor’s gross salary is 63,180→ 63,180/89,000= 0.70988, move the decimal places twice and Victor’s gross salary represents 70.99% of the total income. In the expenditures section, the total expenses represent our 100% baseline. All of the individual expenditures will be divided by the total expenses figure. In this case, the total expenses are $89,000. The food expense in this statement is 4,900→ 4,900/89,000= 0.05505, move the decimal place twice and the food expense represents 5.51% of the total expenses.
Complete problem 5 below which is taken from the Do the Math exercises on page 97 of your textbook. Create a balance sheet by using tables in Word or by using an Excel spreadsheet.
Construct Financial Statements. Thomas Green has been a retail sales clerk for six years. At age 35, he is divorced with one child, Amanda, age 7. Thomas’s salary is $36,000 per year. He regularly receives $400 per month for child support from Amanda’s mother. Thomas invests $100 each month ($50 in his mutual fund and $50 in U.S. savings bonds). Using the following information, construct a balance sheet and a cash-flow statement for Thomas. For additional assistance completing this week’s assignment, review the following study guide: Week 2 Study Guide. Garman, E. T., & Forge, R. E. (2015). Personal Finance (12th ed.). Mason, OH: Cengage Learning.
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. 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The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. GET THIS PROJECT NOW BY CLICKING ON THIS LINK TO PLACE THE ORDER
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