Accounting

Topics: Generally Accepted Accounting Principles, Balance sheet, Asset Pages: 4 (765 words) Published: April 27, 2013
ACC206: Principles of Accounting II
Final Paper
Instructor: Emmett Denham
March 25, 2013

ABC Company could reach $3 million in annual sales within 3 years if the company used shingle scrap material to build cedar dollhouses. The new product would add additional costs but would project an aggressive growth in revenue for the company. In the following reports I will show you how beneficial the cedar dollhouses would be to ABC Company.

[ABC Company]| Cash Flow Satement| |
| | Date:| | |
| | | | |
Assets| 19X2| 19X1| |
Current Assets|  |  | |
| Cash| 5,000 | 7,000 | | | Accounts receivable| 12,000 | 18,000 | | | Inventory| 35,000 | 28,000 | | | Prepaid expenses| | | |

| Short-term investments| | | |
Total current assets| 52,000 | 53,000 | | Fixed (Long-Term) Assets|  |  | |
| Long-term investments| | | |
| Property, plant, and equipment| 40,000 | 30,000 | | | (Less accumulated depreciation)| (17,000)| (10,000)| | | Intangible assets| | | |

Total fixed assets| 23,000 | 20,000 | | Other Assets|  |  | |
| Deferred income tax| | | |
| Other| | | |
Total Other Assets| - | - | | | | | | |
Total Assets| 75,000 | 73,000 | | | | | | |
Liabilities and Owner's Equity|  |  | |
Current Liabilities|  |  | |
| Accounts payable| 25,000 | 21,000 | | | Short-term loans| | | |
| Income taxes...
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