Assignment: Financial Information
Competency
This exercise will evaluate your ability to classify financial issues affecting businesses and demonstrate their use in creating financial documents.
Instructions
You are in the process of analyzing the financial status of your business. You need to demonstrate to investors that you have a viable business with the ability to be profitable. You decide to create a Balance Sheet and Income Statement to give investors a view of the financial health of your business. Using the templates and accounts, create the Balance Sheet and Income Statement that you will show your investors. See a sample of the documents here.
1. From the list of accounts, classify the assets and place them in the appropriate section on the Balance Sheet.
2. From the list of accounts, classify the liabilities and place them in the appropriate section on the Balance Sheet.
3. From the list of accounts, classify the revenue accounts and place them in the correct section of the Income Statement
4. From the list of accounts, classify the expense accounts and place them in the correct section of the Income Statement.
5. Write a paragraph to your investors explaining the relevance of the information provided by the Balance Sheet that would indicate that your business would be a worthwhile investment.
6. Write a paragraph to your investors explaining the relevance of the information provided by the Income Statement that would indicate that your business would be a worthwhile investment.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.
Attachment:- Sample-Balance-Sheet-and-Income-Statement.rar