30 Jun uestion Description The following selected a
Question Description
The following selected accounts and their current balances appear in the ledger of Kanpur Co. for thHome > Business Finance > Case 3 Capital Budgeting and The Cost of Capital Assignment
Case 3 Capital Budgeting and The Cost of Capital Assignment
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Question Description
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Before starting on this assignment, make sure to thoroughly review the required background materials. Make sure you fully understand both the basic concepts as well as how to calculate payback period, NPV, IRR, and WACC. Submit your answers in a Word document. Make sure to show your work for all quantitative questions and fully explain your answers using references to the background readings for any conceptual questions. Questions 1 and 2 will require Excel. Attach an Excel file to show your computations for Questions 1 and 2.e fiscal year ended June 30, 2019:
Cash – $92,000
Accounts Receivable – $450,000
Merchandise Inventory – $370,000
Estimated Returns Inventory – $5,000
Office Supplies – $10,000
Prepaid Insurance – $12,000
Office Equipment – $220,000
Accumulated Depreciation
—Office Equipment – $58,000
—Store Equipment – $650,000
Accumulated Depreciation
–Store Equipment – $87,500
Accounts Payable – $38,500
Customer Refunds Payable $10,000
Salaries Payable – $4,000
Note Payable
(final payment due 2032) – $140,000
Gerri Faber, Capital – $431,000
Gerri Faber, Drawing – $300,000
Sales – $8,925,000
Cost of Merchandise Sold – $5,620,000
Sales Salaries Expense – $850,000
Advertising Expense – $420,000
Depreciation Expense
—Store Equipment – $33,000
Miscellaneous Selling Expense $18,000
Office Salaries Expense – $540,000
Rent Expense – $48,000
Insurance Expense – $24,000
Depreciation Expense
—Office Equipment – $10,000
Office Supplies Expense – $4,000
Miscellaneous Administrative Exp. – $6,000
Interest Expense -$12,000
Instructions
1. Prepare a multiple-step income statement.
2. Prepare a statement of owner’s equity.
3. Prepare a balance sheet, assuming that the current portion of the note payable is $7,000.
4. Briefly explain how multiple-step and single-step income statements differ.
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