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
Page 3 of 68
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
Page 4 of 68
HORNGREN’S ACCOUNTING – Eleventh Edition
Chapter 17: Financial Statement Analysis
Page 5 of 68
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
Page 6 of 68
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
Page 7 of 68
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
Page 10 of 68
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
Page 11 of 68
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
Page 13 of 68
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
Page 14 of 68
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
Page 15 of 68
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
Page 16 of 68
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
Page 21 of 68
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
Page 23 of 68
HORNGREN’S ACCOUNTING – Eleventh Edition
Chapter 17: Financial Statement Analysis
Page 24 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
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
Page 28 of 68
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
Page 30 of 68
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.

Purchase answer to see full
attachment