Write a brief report in memorandum format of your activities.This memorandum should include a response to the prompt below and a report of your work for the week
Prompt: Review your SEC 10-K company’s balance sheet.
Your SEC 10-K company has a statement of owners’ equity or a similar name. The value of retained earnings comes from this statement, similar to the analysis you see in the early chapters of our textbook.
Recall there is an order for completing the financial statements:Income Stmt - - > Stmt of Owners’ Equity - - > Balance Sheet - - > Stmt of Cash Flows
Dividend Journal entry:
Debit Retained Earnings
These cash dividends are funded by retained earnings. If net income and other ‘credits’ exceed the value of the dividends for the period retained earnings may increase. If not retained earnings likely decreases.
What do you learn about dividends for your SEC 10-K company? Do they issue dividends? What are the risks and opportunities of issuing dividends to shareholders each year?
Report of work:
1. Must include a summary of each chapter.
2. Also choose from one of these topics:
• What resources did you find most/least helpful this week?
• What topic(s) gave you trouble this week (if any)?
• What topic(s) do you feel you were able to grasp?
• How might you change your time management or study habits?
• Comment on the value of the activities you completed this week
These solutions may offer step-by-step problem-solving explanations or good writing examples that include modern styles of formatting and construction of bibliographies out of text citations and references. Students may use these solutions for personal skill-building and practice. Unethical use is strictly forbidden.1. Report of work for the week
This week’s activities focused on accounting for property, plant, and equipment (PP&E), current liabilities and employer obligations, long-term obligations and corporate equity accounting. In chapter 10 I learned more about the basic principles of accounting for PP&E that I had covered in the previous chapters. Through studying this chapter I gained better understanding of the concepts that govern the types of costs that should be included in PP&E as well as how to treat special situations such as when a company pays lump-sum to acquire assets. The activities in this chapter especially with regard to service life, depreciation and the different methods of accounting for it enabled me to better understand the process of allocating PP&E costs.
The activities in chapter 11 expanded on the principles introduced in chapter 10, and they helped me to gain...
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