Sep 27, 2017 term paper 2

YOU ARE PROVIDED WITH THE FOLLOWING INFORMATION FOR BLUE SPRUCE CORP., EFFECTIVE AS OF ITS APRIL 30, 2017, YEAR-END.

This paper concentrates on the primary theme of YOU ARE PROVIDED WITH THE FOLLOWING INFORMATION FOR BLUE SPRUCE CORP., EFFECTIVE AS OF ITS APRIL 30, 2017, YEAR-END. in which you have to explain and evaluate its intricate aspects in detail. In addition to this, this paper has been reviewed and purchased by most of the students hence; it has been rated 4.8 points on the scale of 5 points. Besides, the price of this paper starts from £ 40. For more details and full access to the paper, please refer to the site.

You are provided with the following information for Blue Spruce Corp., effective as of its April 30, 2017, year-end.

Accounts payable$ 859
Accounts receivable1,010
Accumulated depreciation—equipment670
Cash1,470
Common stock1,500
Cost of goods sold1,085
Depreciation expense310
Dividends350
Equipment2,620
Income tax expense190
Income taxes payable160
Insurance expense235
Interest expense425
Inventory1,167
Land3,300
Mortgage payable3,700
Notes payable261
Prepaid insurance85
Retained earnings (beginning)1,600
Salaries and wages expense675
Salaries and wages payable247
Sales revenue5,300
Stock investments (short-term)1,375
Prepare an income statement for Blue Spruce Corp. for the year ended April 30, 2017.

Blue Spruce Corp.

Income Statement


 
For the Month Ended April 30, 2017
For the Year Ended April 30, 2017
April 30, 2017

 
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, May 1, 2016
Retained Earnings, April 30, 2017
Revenues
Total Expenses
Total Revenues
$


 
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, May 1, 2016
Retained Earnings, April 30, 2017
Revenues
Total Expenses
Total Revenues
$


    
Dividends    
Expenses    
Net Income / (Loss)    
Retained Earnings, May 1, 2016    
Retained Earnings, April 30, 2017    
Revenues    
Total Expenses    
Total Revenues    

 
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, May 1, 2016
Retained Earnings, April 30, 2017
Revenues
Total Expenses
Total Revenues
$

Prepare a retained earnings statement for Blue Spruce Corp. for the year ended April 30, 2017. (List items that increase retained earnings first.)

Blue Spruce Corp.

Retained Earnings Statement


 
April 30, 2017
For the Year Ended April 30, 2017
For the Month Ended April 30, 2017

 
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, May 1, 2016
Retained Earnings, April 30, 2017
Revenues
Total Expenses
Total Revenues
$


 
Add
Less

:


 
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, May 1, 2016
Retained Earnings, April 30, 2017
Revenues
Total Expenses
Total Revenues

 
Add
Less

:


 
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, May 1, 2016
Retained Earnings, April 30, 2017
Revenues
Total Expenses
Total Revenues

 
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, May 1, 2016
Retained Earnings, April 30, 2017
Revenues
Total Expenses
Total Revenues
$

Prepare a classified balance sheet for Blue Spruce Corp. as of April 30, 2017. (List current assets in order of liquidity.)

Blue Spruce Corp.

Balance Sheet


 
For the Month Ended April 30, 2017
For the Year Ended April 30, 2017
April 30, 2017
Assets

 
Current Assets
Current Liabilities
Intangible Assets
Long-Term Investments
Long-Term Liabilities
Property, Plant and Equipment
Stockholders’ Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders’ Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Stockholders’ Equity

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