Case Study Project & APA Paper
Attached Files:
Case Study Excel Template.xlsx (17.58 KB)
Case Study Assignment Instructions.docx (28.015 KB)
Case Study: Surfside Shores Condominium Renovation Project & APA Paper
Read the “Case Study Assignment Instructions” Word Document attached.
Open the “Case Study Excel Student Template” Microsoft Excel Spreadsheet attached.
Detailed Assignment Tasks
Step 1: Journalize the Surfside Shores Condominium Renovation Project Transactions in the Excel Spreadsheet
12/01/2024 – Owners paid $500,000 cash in exchange for common stock.
12/04/2024 – $250,000 inventory purchased on account.
12/11/2024 – $150,000 inventory purchased with cash.
12/14/2024 – Payments totaling $80,000 made for rent expense.
12/19/2024 – Payments totaling $120,000 made for utilities expense.
12/22/2024 – Payments totaling $40,000 made for miscellaneous expenses.
12/25/2024 – Issued a $50,000 note payable to a contractor for repairs expense.
12/27/2024 – Project generated $600,000 in rental income.
12/31/2024 – Interest expenses totaled $15,000.
COGS totaled $100,000 (NO J/E REQUIRED; INFO NEEDED FOR BALANCE SHEET)
Retained Earnings totaled $295,000 (NO J/E REQUIRED; INFO NEEDED FOR BALANCE SHEET)
Step 2: Prepare the Income Statement in the Excel Spreadsheet
Please note, do not add any more columns or rows as the exact amount of accounts and their numerical value should fit perfectly.
Plug in the revenue and expenses as seen from the completed Journal Entrie to prepare the Income Statement.
Step 3: Prepare the Balance Sheet in the Excel Spreadsheet
Please note, do not add any more columns or rows as the exact amount of accounts and their numerical value should fit perfectly.
Plug in the assets (I.E., Cash, Inventory), liaibilties, common stock, retained earnings (given without JE) for quity to get a balance sheet where Total Assets = Total Liabilities + Equity.
Step 4: Compile APA Report
1. Research: Conduct detailed research on the financial aspects of the Surfside Shores Condominium Renovation Project.
Utilize the Everglades University (EU) library databases for scholarly articles, books, and other relevant resources.
2. Analysis: Analyze the impact of this project on the financial statements of Surfside Shores Condominiums.
Evaluate how the renovation costs and financing options affect the balance sheet and income statement. I.E., More utilities expenses would cause the Net Income to decrease.
4. Evaluation: Evaluate the importance of controlling cash and compare various methods of inventory valuation used during the renovation.
Examine how internal controls can prevent fraud and errors in financial reporting.
5. Compile APA Paper with the following Four Sections:
Introduction: Introduce the Surfside Shores Condominium Renovation Project and its financials.
Detailed Account of Research: Summarize your research findings, including relevant financial data and scholarly insights (at least 1 reputable academic source).
Analyses: Provide detailed analyses of the project’s impact on financial statements.
Conclusion: Summarize your findings and discuss the significance of financial accounting in managing renovation projects.
The body of the APA paper should be 2-3 pages double-spaced (excluding title page, tables, charts, exhibits, and references) formatted according to APA guidelines. Please refer to the APA 7th Edition Student Paper Word Document Template located under the Case Study. Ensure to cite at least one reference from academic journals, professional journals, course textbook, or authoritative sources as specified by your instructor.
APA 7th Edtion Word Document Template
