accounting excel 495036

800000 900000 100000 90000 80000 80000 100000 113000 20000 23000 20000 20500 520000 614500 700000 1100000 520000 614500 120000 120000 1100000 1594500 225000 648000 200000 284500 75000 92000 900000 900000 900000 820000 600000 600000 2900000 3344500 900000 850000 900000 900000 1100000 1594500 2900000 3344500 Cost of Goods Sold Depreciation Expense Investment Income Net Income Dividends Paid Land Total Assets Liabilities Common Stock Retained Earnings Foxx Corporation Financial Statements Income Statement Statement of Changes in Retained Earnings For Year Ended December 31, 2011 and 2012 Balance Sheet Total Liabilities and Stockholder’s Equity Common Size Sales Expected Cash Accounts Receivable Buildings and Equipment (net) Investments Administrative Expenses Miscellaneous Expenses Retained Earnings, Beginning Retained Earnings, Ending Prior Yr. Current Yr. Actual Inventory Actual/Expected $ Difference Between (a) (b) Requirement: ( c ) Requirement d: Name: You should name this spreadsheet using the naming convention “yourname.xlsx” This Assignment requires that you prepare an Excel Spreadsheet – similar to one that would be used in practice in the planning phase of the audit. The auditor must first develop an expectation, usually based on the performance in the prior period (taking into consideration any unusual circumstances in the current period). We will assume no unusual circumstances in the current period. This company is a new and growing company, and we would expect sales to increase in the current period (compared to the previous period). Requirements: (a) Prepare common size Income Statements and Balance Sheets for the prior and current periods. (b) Based on the relationships in the prior period Income Statements and assuming Sales of $900,000, calculate the expected amounts (dollar amounts) for the various expense accounts (including COGS). All calculations should be completed in the Excel…