Please answer the following questions and place them on the guidance report using the January- February numbers. Attachment 1 Attachment 2 ATTACHMENT PREVIEW Download attachment Guidance_Report_Week_One (1).xlsx Ashford University ACC205 Guidance Report Week One LISTEN TO AUDIO/VIDEO EXPLAINING THE GUIDANCE REPORT AUDIO/VIDEO EX 2 <<<<CLICK HERE YELLOW INDICATES ACCOUNT AMOUNTS CHANGED Change Account to: Based Upon Course Start Date Exercise/ Problem Ch 1 – Ex 2 Account to be changed Original Amount Jan-Feb 30,000 32,200 56,900 60,100 40,000 44,200 Building Fee Revenue Loan Payable Questions Mar-Apr 34,400 63,300 48,400 May-Jun 36,600 66,500 52,600 Jul-Aug 38,800 69,700 56,800 Sept-Oct 41,000 72,900 61,000 Nov-Dec 43,200 76,100 65,200 46,500 48,000 49,500 51,000 52,500 54,000 65,900 $ 71,150 $ 97,375 66,900 $ 71,500 $ 97,750 67,900 $ 71,850 $ 98,125 68,900 $ 72,200 $ 98,500 69,900 $ 72,550 $ 98,875 70,900 $72,900 $99,250 185,000 70,000 195,000 80,000 205,000 90,000 215,000 100,000 225,000 110,000 235,000 120,000 YOUR ANSWERS BASED UPON COURSE START DATE 1. Total Assets 2. Total Liabilities 3. Net Income AUDIO/VIDEO EX 5 <<<<CLICK HERE Ch 1- Ex 5 Account to be changed January 1 Assets Original Amount 45000 YOUR ANSWERS BASED UPON COURSE START DATE Ch 1- Ex 5 A. Compute the change in owner’s equity during the year by using the accounting equation. 2. Assume that there were no owner investments or withdrawals during the year. What is the probable cause of the change in owner’s equity from part (a)? 3. Assume that there were no owner investments during the year. If the owner withdrew $17,000, determine and compute the company’s net income or net loss. 4. If owner investments and withdrawals amounted to $13,000 and $2,000, respectively, determine whether the company operated profitably during the year. Ch 1- Ex 8 Account to be changed Income statement Total expenses Ending owner’s equity $ Total liabilities $ Original Amount 64900 70,800 97,000 YOUR ANSWERS BASED UPON COURSE START DATE Ch 1- Ex 8 Total revenues for the year Total owner investments Total assets Ch 1 Pb 3 Account to be changed Surgery Revenue Cash Original Amount 175000 60000 YOUR ANSWERS BASED UPON COURSE START DATE Income Statement Surgery Revenue Total Revenue Expenses: Surgical Expenses Salaries Expense Utilities Expense Rent Expense Total Expenses Net Income(Loss) Statement of owner’s equity Beginning Capital Add: Net Income(loss) Add: Owner Investments Deduct Withdrawals Ending Capital Balance sheet Assets: Cash Accounts Receivable Office Equipment Surgical Equipment Total Assets Liabilities: Accounts Payable Loan Payable Total Liabilities Capital (This is the ending capital from the owners equity statement) Total Liabilities and Capital Ch 1 Pb 5 Account to be changed Chapter One Problem Five Services performed on account Prepare an income statement for the month ending October 31, 20X6. Services performed Expenses: Salary expense Advertising expense Taxes Postage Utilities Interest Misc Total expenses Net Income Prepare a statement of owner’s equity for the month ending October 31, 20X6. Beginning balance Investments Withdrawals Net Income Ending balance Prepare a balance sheet as of October 31, 20X6. Assets: Cash Accounts receivable Office equipment Decorator furnishings Van Total Assets Liabilities: Accounts payable Original Amount 18300 YOUR ANSWERS BASED UPON COURSE START DATE 28300 38300 48300 58300 68300 78300 Bank loan Total liabilities Owners equity Total liabilities & Owners equity Account to be changed Ch 2 Ex 3 Investment Cash Land Services to Ratchford Payment from Ratchford Salaries Computer Collection from Ratchford Borrowed from West Bank 4/1: Received cash of $15,000 and land valued at $10,000 from Jennifer Royall as an investment in the business. Original Amount 15000 10000 1200 800 250 3200 800 7500 20500 15500 6700 6300 5750 8700 6300 13000 26000 21000 12200 11800 11250 14200 11800 18500 31500 26500 17700 1730