# ACC350 GCU McCormick Designs Inc Accounting Study Each assignment needs their own separate excel document.Please see instructions within attachment.Each qu

ACC350 GCU McCormick Designs Inc Accounting Study Each assignment needs their own separate excel document.Please see instructions within attachment.Each question has a specific template which is provided to answer the questionsAlso can you utilize excel formula. Please be sure to include your name in the filename of any document that you submi

grading. The proper format is LastnameFirstinitial.ACC350.T#. Replace # with the w

number or topic number. If I were submitting this file for grade, I would name it:

StrawserD.ACC350.T7

These templates are supplied to ensure you answer all parts of the assignment and obta

maximum possible points. They are not fill in the blank templates like you may have had

the past because that type of template does not promote learning and your future emp

will expect a college graduate to be Excel worksheet savvy.

Use Excel formulas for your math. This will show me how you came up with your answe

if it is incorrect, I can place my cursor on the cell and see where you went wrong and po

in the right direction. Learning Excel is part of this course and a small percentage of you

each week as well as accounting format. Please see the grading rubric on the last tab of

workbook for more information on how your grade is determined.

All statements and schedules should mirror those shown in the text book examples and

illustrations. Working through the SUMMARY PROBLEM at the end of the chapter is a m

you are struggling with the assignments.

If you have any questions, please send me an email. I will respond within 24 hours (Mo

through Friday). I normally check my emails twice a day so rarely will it take that long.

Weekends may take longer so, it is not a good idea to wait until Sunday to start an

assignment.

Professor D

dstrawser@my.gcu.edu

ent that you submit for

eplace # with the week

e, I would name it:

ssignment and obtain the

e you may have had in

nd your future employer

up with your answer and

went wrong and point you

percentage of your grade

c on the last tab of this

book examples and

of the chapter is a must, if

ithin 24 hours (Monday

l it take that long.

day to start an

HORNGREN’S ACCOUNTING – Eleventh Edition

ED-15

Requirement 1

Prepare a horizontal analysis of the comparative income statement of

McCormick

MCCORMICK DESIGNS, INC.

Comparative Income Statement

Years Ended December 31, 2016 and 2015

Increase (Decrease)

2016

2015

Amount Percentage

Net Sales Revenue

Expenses:

Cost of Goods Sold

Selling and Administrative Expenses

Other Expenses

Total Expenses

Net Income

Requirement 2

Why did 2016 net income increase by a higher percentage than net sales

revenue?

Chapter 17: Financial Statement Analysis

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HORNGREN’S ACCOUNTING – Eleventh Edition

Use must use Excel formulas for your math calculations.

Display your answers using standard accounting conventions.

Columns J and K should contain Excel formulas.

Use college level writing and answer the question in detail just as you would to

Chapter 17: Financial Statement Analysis

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HORNGREN’S ACCOUNTING – Eleventh Edition

Chapter 17: Financial Statement Analysis

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HORNGREN’S ACCOUNTING – Eleventh Edition

ED-16

Requirement 1

Compute trend analysis for net revenue and net income. Round to the nearest full

percent.

2017

2016

2015

2014

Net Revenue

Trend Percentages

Net Income

Trend Percentages

Use must use Excel formul

Display your answers using

2013

This row should contain Exce

This row should contain Exce

Requirement 2

Which grew faster during the period, net revenue or net income?

Use results from your calcula

Use merge and wrap text whe

Chapter 17: Financial Statement Analysis

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HORNGREN’S ACCOUNTING – Eleventh Edition

ults from your calculations in Requirement 1 to support your opinion in your answer to Requirement 2.

Chapter 17: Financial Statement Analysis

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HORNGREN’S ACCOUNTING – Eleventh Edition

ED-20

Compute the following ratios for the current year:

a.

Total current assets

Total current liabilities

This column is optional if you

show your work in the cells in

column N.

This column

should contain

Excel formulas.

=

b.

Cash + Cash equivalents

Total current liabilities

=

c.

Cash + Short-term investments + Net current receivables

Total current liabilities

=

d.

Cost of goods sold

Average merchandise inventory

=

e.

365 days

Inventory turnover

=

f.

Net credit sales

Average net accounts receivables

=

365 days

Accounts receivable turnover ratio

=

Gross Profit

Net Sales Revenue

=

g.

Chapter 17: Financial Statement Analysis

Page 8 of 68

HORNGREN’S ACCOUNTING – Eleventh Edition

Use must use Excel formulas for your math calculations.

Display your answers using standard accounting conventions.

Chapter 17: Financial Statement Analysis

Page 9 of 68

HORNGREN’S ACCOUNTING – Eleventh Edition

ED-21

Use must use Excel formulas for your math calculations.

Compute the following ratios for 2016 and 2015, and evaluate the company’s ability to pay its current liabilities and

total liabilities:

Column K should contain Excel formulas.

a. Current ratio

d. Debt ratio

Column N should contain Excel formulas.

b. Cash ratio

e. Debt to equity ratio

This column is optional if

This column is optional if

c. Acid-test ratio

you show your work in the

cells in column K.

you show your work in the

cells in column O.

2016

2015

a.

Total current assets

Total current liabilities

=

=

b.

Cash + Cash equivalents

Total current liabilities

=

=

c.

Cash + Short-term investments

+ Net current receivables

Total current liabilities

=

=

=

=

=

=

d.

Total liabilities

Total assets

e.

Total liabilities

Total equity (Total assets –

Total liabilities)

Chapter 17: Financial Statement Analysis

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HORNGREN’S ACCOUNTING – Eleventh Edition

Discuss the ratio results from above and what they tell you about Bed Bend Photo Shop?

Chapter 17: Financial Statement Analysis

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HORNGREN’S ACCOUNTING – Eleventh Edition

math calculations.

Use must use Excel formulas for your math calculations.

Display your answers using standard accounting conventions.

Chapter 17: Financial Statement Analysis

Page 12 of 68

HORNGREN’S ACCOUNTING – Eleventh Edition

Use merge and wrap text when needed to keep your answer within the yellow box.

Insert more lines if more space is needed.

Chapter 17: Financial Statement Analysis

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HORNGREN’S ACCOUNTING – Eleventh Edition

Comprehensive Problem for Appendix D

Requirement 1

Analyze the company’s financial summary for the fiscal years 2013–2020 to

decide whether to invest in the common stock of WRM. Include the following

sections in your analysis, and fully explain your final decision.

Trend analysis for net sales and net income (use 2016 as the base year).

2020

2019

Total net revenues

Trend Percentages

Net earnings

Trend Percentages

What do these numbers tell you?

Chapter 17: Financial Statement Analysis

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HORNGREN’S ACCOUNTING – Eleventh Edition

Requirement 2

Profitability analysis.

2020

2019

Net Income

Net Sales

Profit Margin Ratio

Rate of Return On Total Assets

Rate of Return On Common Stockholders Equity

What do each of the result lines tell you about WRM?

Chapter 17: Financial Statement Analysis

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HORNGREN’S ACCOUNTING – Eleventh Edition

Requirement 3

Evaluation of the ability to sell merchandise inventory (WRM uses the

2020

2019

Net Sales

Cost of Goods Sold

Gross Profit

Gross Profit Percentage

Beginning Inventory

Ending Inventory

Average Inventory

Inventory Turnover

Days’ sales in inventory

What do these numbers tell you?

Chapter 17: Financial Statement Analysis

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HORNGREN’S ACCOUNTING – Eleventh Edition

Requirement 4

Evaluation of the ability to pay debts.

2020

2019

Total Assets

Total Equity

Total Liabilities

Debt Ratio

Debt to Equity Ratio

Net Income

Income Tax Expense

Interest Expense

Total

Times-interest-earned ratio

Current Ratio

Quick Ratio

What do each of these ratio results tell you?

Chapter 17: Financial Statement Analysis

Page 17 of 68

HORNGREN’S ACCOUNTING – Eleventh Edition

Requirement 5

Evaluation of dividends.

2020

2019

Annual Dividend per share

Earnings per share

Dividend payout

What do these numbers tell you about the company’s stock and earnings? Would you invest in this

Chapter 17: Financial Statement Analysis

Page 18 of 68

HORNGREN’S ACCOUNTING – Eleventh Edition

Use must use Excel formulas for your math calculations.

Display your answers using standard accounting convention

e following

2018

2017

2016

This row should contain Excel formulas.

This row should contain Excel formulas.

Chapter 17: Financial Statement Analysis

Page 19 of 68

HORNGREN’S ACCOUNTING – Eleventh Edition

2018

2017

2016

This row should contain Excel formulas to show you know how to

This row should contain Excel formulas to show you know how to

This row should contain Excel formulas to show you know how to

Chapter 17: Financial Statement Analysis

Page 20 of 68

HORNGREN’S ACCOUNTING – Eleventh Edition

handise inventory (WRM uses the LIFO method).

2018

2017

2016

This row should contain Excel formulas to show you know how to

Chapter 17: Financial Statement Analysis

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HORNGREN’S ACCOUNTING – Eleventh Edition

2018

2017

2016

Results should be presented with one decimal place.

Results should be presented with two decimal places.

Results should be presented with two decimal places.

Results should be presented with two decimal places.

Results should be presented with one decimal place.

Chapter 17: Financial Statement Analysis

Page 22 of 68

HORNGREN’S ACCOUNTING – Eleventh Edition

2018

2017

2016

arnings? Would you invest in this company?

Chapter 17: Financial Statement Analysis

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HORNGREN’S ACCOUNTING – Eleventh Edition

Chapter 17: Financial Statement Analysis

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HORNGREN’S ACCOUNTING – Eleventh Edition

as to show you know how to calculate these numbers. Results should be presented as percentages with one decim

as to show you know how to calculate these numbers. Results should be presented as percentages with one decim

as to show you know how to calculate these numbers. Results should be presented as percentages with one decim

Chapter 17: Financial Statement Analysis

Page 25 of 68

HORNGREN’S ACCOUNTING – Eleventh Edition

as to show you know how to calculate these numbers. Results should be presented as percentages with one decim

Chapter 17: Financial Statement Analysis

Page 26 of 68

HORNGREN’S ACCOUNTING – Eleventh Edition

Chapter 17: Financial Statement Analysis

Page 27 of 68

HORNGREN’S ACCOUNTING – Eleventh Edition

Chapter 17: Financial Statement Analysis

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HORNGREN’S ACCOUNTING – Eleventh Edition

Chapter 17: Financial Statement Analysis

Page 29 of 68

HORNGREN’S ACCOUNTING – Eleventh Edition

s percentages with one decimal place.

s percentages with one decimal place.

s percentages with one decimal place.

Chapter 17: Financial Statement Analysis

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HORNGREN’S ACCOUNTING – Eleventh Edition

s percentages with one decimal place.

Chapter 17: Financial Statement Analysis

Page 31 of 68

ACC350 Grading Rubric

Week 7

ED-15

ED-16

C

O

N

T

E

N

T

ED-20

ED-21

Comprehensive Problem

S

T

Y

L

E

&

F

O

STRUCTURE

T

Y

L

E

&

ACCOUNTING

F

O

R

M

A

T

GRAMMAR

Additional Comments:

For Instructor Use Only

Unsatisfactory

0%-60%

Needs Improvement

70%

Assignment is incomplete.

Assignment has multiple errors and does

not demonstrate a basic understanding of

methodology.

Assignment is incomplete.

Assignment has multiple errors and does

not demonstrate a basic understanding of

methodology.

Assignment is incomplete.

Assignment has multiple errors and does

not demonstrate a basic understanding of

methodology.

Assignment is incomplete.

Assignment has multiple errors and does

not demonstrate a basic understanding of

methodology.

Assignment is incomplete.

Assignment has multiple errors and does

not demonstrate a basic understanding of

methodology.

Student does not use Excel formulas or

cell references.

Structure of the paper is not easy to follow.

Student uses Excel cell references only.

Paper does not follow standard accounting

conventions.

Paper does not demonstrate a clear

understanding of standard accounting

conventions, and multiple errors are

present.

Paper contains grammar, spelling and

word choice errors that are so pervasive

that they detract from the writer’s

message.

Paper contains numerous grammar,

punctuation, spelling, and word choice

errors.

Due Date

6/24/2018

ts:

For Instructor Use Only

Satisfactory

80%

Good

90%

Assignment has multiple errors but

demonstrates a basic understanding of

concepts.

Assignment has few errors and

demonstrates a clear understanding of

course content.

Assignment has multiple errors but

demonstrates a basic understanding of

concepts.

Assignment has few errors and

demonstrates a clear understanding of

course content.

Assignment has multiple errors but

demonstrates a basic understanding of

concepts.

Assignment has few errors and

demonstrates a clear understanding of

course content.

Assignment has multiple errors but

demonstrates a basic understanding of

concepts.

Assignment has few errors and

demonstrates a clear understanding of

course content.

Assignment has multiple errors but

demonstrates a basic understanding of

concepts.

Assignment has few errors and

demonstrates a clear understanding of

course content.

Structure of the paper is clear, with minor

formatting errors only. Student uses only

basic Excel formulas.

The structure of the paper is clear and

easy to follow. Student uses intermediate

level Excel formulas.

Paper demonstrates a clear understanding

of standard accounting conventions, with

minor errors only.

Most standard accounting conventions are

followed, including underlining, use of

dollar signs, and placement of numbers

within financial statements or other

standard formats.

Rules of grammar usage and punctuation

Paper contains few grammar, punctuation,

are followed; spelling and word choices are

spelling, and word choice errors.

correct.

Submitted

6/24/2018

HW-T7

Superior

100%

Score

Weighting

Weighted Score

Assignment is free of errors, demonstrates

superior understanding of concepts and

provides explanatory data to support

figures, when applicable.

100%

10%

0.10

Assignment is free of errors, demonstrates

superior understanding of concepts and

provides explanatory data to support

figures, when applicable.

100%

10%

0.10

Assignment is free of errors, demonstrates

superior understanding of concepts and

provides explanatory data to support

figures, when applicable.

100%

15%

0.15

Assignment is free of errors, demonstrates

superior understanding of concepts and

provides explanatory data to support

figures, when applicable.

100%

20%

0.20

Assignment is free of errors, demonstrates

superior understanding of concepts and

provides explanatory data to support

figures, when applicable.

100%

25%

0.25

The structure of the paper is clear and

easy to follow, and demonstrates a

superior understanding of the use of Excel.

Student uses advanced formulas and cell

formating.

100%

10%

0.1

All standard accounting conventions are

followed, including underlining, use of

dollar signs, and placement of numbers

within financial statements or other

standard formats.

100%

5%

0.05

Paper demonstrates superior command of

English language through varied and

appropriate word choices, when applicable.

100%

5%

0.05

Percentage Score

Points Available

Days Late = 0

Points Earned

Penalty

Points Received

100%

45

45

45

10

9

8

7

6

3

1

100%

90%

80%

70%

60%

30%

15%

0%

You did an good job on the problems this week. Please let me know if you have an

Professor D

Good work on the Week 7 assignment.

Please review your paper and let me

know if you have any questions about the

ones you missed.

Professor D

Your calculations should be shown. Your boss and the auditors w

Excel formulas should be used and your calculations should be shown. Your boss

blems this week. Please let me know if you have any questions after you review the notes I left on your paper. Keep up the good work.

It looks like you struggled with this problem. Look at the Summary Problem

be shown. Your boss and the auditors will require that information.

and your calculations should be shown. Your boss and the auditors will require that information.

tes I left on your paper. Keep up the good work.

d with this problem. Look at the Summary Problem on page 1135 of the textbook. That problem mirrors what was required for this assig

nformation.

t problem mirrors what was required for this assignment. If fact, if you work through the summary problems each week before you start

P

he summary problems each week before you start the assignments, you will find them a lot easier. Each problem gives the solution as we

Professor D

a lot easier. Each problem gives the solution as well so you know if you understand the material before you start the assignment. If you

e material before you start the assignment. If you still need further help, GCU offers free tutoring through the Student Success Center.

ee tutoring through the Student Success Center.

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