Can someone help me complete the workbook please.

ACC 309 Final Project Scenario Peyton Approved Overview Imagine that you are working as a financial accountant for Peyton Approved, and you have been charged with revising its financial information. The company has experienced tremendous growth in the past three years, and it is now a well-known bakery chain for pet products. They have become a publicly traded company and have several locations that they deliver to regionally. You will find the company's financial information in the Peyton Approved Balance Sheet and Income Statement. This document will need revisions and appropriate notes added in order to prepare for the year-end audit accordingly. In addition to ensuring that the balance sheet is ready for the year-end audit, you will address other major areas of need, including: . Assessing tax implications Evaluating and explaining stockholder equity Accounting for postretirement benefits (The amounts would be determined by actuaries.) Assessing impacts of leases . Peyton Approved Financial Information Comprehensive income items . Marketable securities on the balance sheet at a cost of $5,500,000 are available-for-sale Market value at the balance sheet date is $5,235,00 Prepare the adjusting entry to record the unrealized loss and include in comprehensive income Tax information and implications .$1,500 in meal and entertainment expenses show as a permanent difference for tax. Prepare the necessary adjusting entry The company uses straight line depreciation for book and MACRS depreciation for the tax return . f10 f11 112 C309 Final Project s X huedu/content/enforced/12 4192-ACC-309-Q2633-OL-TRAD UGI 8Ew2/ACC-309%20Rubrics/ACC%20309%20Fi Tax information and implications $1,500 in meal and entertainment expenses show as a permanent difference for tax. Prepare the necessary adjusting entry. The company uses straight line depreciation for book and MACRS depreciation for the tax return MACRS depreciation was $209,301 higher than book. Prepare the adjusting entry for the deferred tax. There have been recent tax structure changes the could impact the company. Peyton Approved has been a C Corp since the beginning of these changes. pretax income (20% Federal, 5% state). . Peyton provides for taxes at 25% of Stockholder Equity Peyton Approved prides itself on transparency with shareholders and investors. The company has added two storefront locations and launched a new marketing campaign, which is estimated to bring in 20,000 new customers over the next 6 months. The company expects this expansion will require an additional $1,000,000 of capital and generate an additional $600,000 of after-tax profit. The options are: 1) issuing an additional $1,000,000 of 10%, 100-par convertible preferred stock (same class as is currently outstanding 2) issue an additional S 1,000,000 of 8% convertible bonds (same terms as the exist snhu forced/1 24 192 ACC 309 Q2633-OL-TRAD-UG. 1 8Ew2/ACC-309%20Rubrics/ACC%20309%20Fi currently outstanding) 2) issue an additional $1,000,000 of 8% convertible bonds (same terms as the existing issue) )$500,000 each of preferred stock and bonds Determine the impact on earnings per share for each option. Peyton Approved has revised its postretirement plan. It will now provide health insurance to retired employees. Management has requested that you report the short-and long-term financial implications of this. The company is currently employing 60, and actuaries estimate that the company has a pension liability of $107,041.70. The estimated cost of retired employees' health insurance is $43,718.91. Prepare adjusting entries for the pension liability and the health insurance liability . Leases Six ovens were rented on December 31, with $20,000 charged to rent expense. The lease runs for 6 years with an implicit interest rate of 5%. At the end of the 6 years, Peyton will own them. Make any necessary adjusting entries. of 5%. At the end of the 6 years, Other Items .On December 31, 20xx, the company repaired a packaging machine at cost of $27,000.00. It is expected that the repair will extend the life of the machine by four years. No depreciation is necessary this year . The company spent $50,000 to obtain and defend a patent for its formula for dog treats. The patent took effect on 1/1/20XX and provides 20 years of protection. The $50,000 amount was incorrectly charged to Misc. Expense * Make any necessary adjusting entries ACC%20309% OFnal Home Insert Page Layout Formulas DataReview View Help ell me what you wan PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View ITEMS TO COMPLETE FOR THIS MILESTONE GENERAL In preparation of the annual audit, make calculations (green tab) and prepare appropriate adjusting entries and post to 22 balance workbook (red tab) 24 CAPITAL LEASES 26Calculate capital lease obligations 27 Prepare appropriate adjusting entries 28 29 PENSION PAYOUTS Calculate pension liability Calculate health insurance liability 33 ADIUSTING ENTRILS 35 Prepare adjusting entries for capital lease obligations Prepare adjusting entries for pension payouts Instructions Milestone 2 Instructions finalPrel Balance Trial Balance 2017 Type here to search f5 f6 17 18 19 esc ACC kbook (1) Protected V Fle Home insert Page Layout Formulas Data Review View Help Tell me what you want to do PROTECTED VIEW Be carefu-files from the Internet can contain vinuses. Unless you need to edic,it's safer to stay in Protected View. Enable Ee A7 3 ADBUSTING ENTRIES 35 Prepare adjusting entries for capital lease obligations 36Prepare adjusting entries for pension payouts 38 I MANAGEMENT BRE. Prepare ' o word document-see the rubric for mlestone 2 39 A. Explain the implications of capital lease based on how it relates to the company's equipment usage. 40 accounting workbook to support claims 8. Explain how postretirement plans will impact the company financially in the short and long term, using examples from the 3 FINANCIAL INFORMATION FOR THIS MILESTONE 5 Postretirement Benefits 46 requested that you report the short- and long-term financial implications of this Peyton Approved has revised its postretirement plan. It will now provide health insurance to retired employees. Management has is currently employing 60, and actuaries estimate that the company has a pension liability of $107.041.70 The company The estimated cost of retired employees' health insurance is $43,718.91. Prepare adjusting entries for the pension liability and the health insurance liabil 49 Leases Six ovens were rented on December 31, with $20,000 charged to rent expense. The lease runs for 6 years with an implicit interest rate of 5%. At the end of the 6 years, peyton will own them. Make any necessary adjusting entries. 2017 Instructions Milestone 2 Balance Sheet 2017 pe here to search E10 2 ACC 309 Final Project Scenario Peyton Approved Overview Imagine that you are working as a financial accountant for Peyton Approved, and you have been charged with revising its financial information. The company has experienced tremendous growth in the past three years, and it is now a well-known bakery chain for pet products. They have become a publicly traded company and have several locations that they deliver to regionally. You will find the company's financial information in the Peyton Approved Balance Sheet and Income Statement. This document will need revisions and appropriate notes added in order to prepare for the year-end audit accordingly. In addition to ensuring that the balance sheet is ready for the year-end audit, you will address other major areas of need, including: . Assessing tax implications Evaluating and explaining stockholder equity Accounting for postretirement benefits (The amounts would be determined by actuaries.) Assessing impacts of leases . Peyton Approved Financial Information Comprehensive income items . Marketable securities on the balance sheet at a cost of $5,500,000 are available-for-sale Market value at the balance sheet date is $5,235,00 Prepare the adjusting entry to record the unrealized loss and include in comprehensive income Tax information and implications .$1,500 in meal and entertainment expenses show as a permanent difference for tax. Prepare the necessary adjusting entry The company uses straight line depreciation for book and MACRS depreciation for the tax return . f10 f11 112 C309 Final Project s X huedu/content/enforced/12 4192-ACC-309-Q2633-OL-TRAD UGI 8Ew2/ACC-309%20Rubrics/ACC%20309%20Fi Tax information and implications $1,500 in meal and entertainment expenses show as a permanent difference for tax. Prepare the necessary adjusting entry. The company uses straight line depreciation for book and MACRS depreciation for the tax return MACRS depreciation was $209,301 higher than book. Prepare the adjusting entry for the deferred tax. There have been recent tax structure changes the could impact the company. Peyton Approved has been a C Corp since the beginning of these changes. pretax income (20% Federal, 5% state). . Peyton provides for taxes at 25% of Stockholder Equity Peyton Approved prides itself on transparency with shareholders and investors. The company has added two storefront locations and launched a new marketing campaign, which is estimated to bring in 20,000 new customers over the next 6 months. The company expects this expansion will require an additional $1,000,000 of capital and generate an additional $600,000 of after-tax profit. The options are: 1) issuing an additional $1,000,000 of 10%, 100-par convertible preferred stock (same class as is currently outstanding 2) issue an additional S 1,000,000 of 8% convertible bonds (same terms as the exist snhu forced/1 24 192 ACC 309 Q2633-OL-TRAD-UG. 1 8Ew2/ACC-309%20Rubrics/ACC%20309%20Fi currently outstanding) 2) issue an additional $1,000,000 of 8% convertible bonds (same terms as the existing issue) )$500,000 each of preferred stock and bonds Determine the impact on earnings per share for each option. Peyton Approved has revised its postretirement plan. It will now provide health insurance to retired employees. Management has requested that you report the short-and long-term financial implications of this. The company is currently employing 60, and actuaries estimate that the company has a pension liability of $107,041.70. The estimated cost of retired employees' health insurance is $43,718.91. Prepare adjusting entries for the pension liability and the health insurance liability . Leases Six ovens were rented on December 31, with $20,000 charged to rent expense. The lease runs for 6 years with an implicit interest rate of 5%. At the end of the 6 years, Peyton will own them. Make any necessary adjusting entries. of 5%. At the end of the 6 years, Other Items .On December 31, 20xx, the company repaired a packaging machine at cost of $27,000.00. It is expected that the repair will extend the life of the machine by four years. No depreciation is necessary this year . The company spent $50,000 to obtain and defend a patent for its formula for dog treats. The patent took effect on 1/1/20XX and provides 20 years of protection. The $50,000 amount was incorrectly charged to Misc. Expense * Make any necessary adjusting entries ACC%20309% OFnal Home Insert Page Layout Formulas DataReview View Help ell me what you wan PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View ITEMS TO COMPLETE FOR THIS MILESTONE GENERAL In preparation of the annual audit, make calculations (green tab) and prepare appropriate adjusting entries and post to 22 balance workbook (red tab) 24 CAPITAL LEASES 26Calculate capital lease obligations 27 Prepare appropriate adjusting entries 28 29 PENSION PAYOUTS Calculate pension liability Calculate health insurance liability 33 ADIUSTING ENTRILS 35 Prepare adjusting entries for capital lease obligations Prepare adjusting entries for pension payouts Instructions Milestone 2 Instructions finalPrel Balance Trial Balance 2017 Type here to search f5 f6 17 18 19 esc ACC kbook (1) Protected V Fle Home insert Page Layout Formulas Data Review View Help Tell me what you want to do PROTECTED VIEW Be carefu-files from the Internet can contain vinuses. Unless you need to edic,it's safer to stay in Protected View. Enable Ee A7 3 ADBUSTING ENTRIES 35 Prepare adjusting entries for capital lease obligations 36Prepare adjusting entries for pension payouts 38 I MANAGEMENT BRE. Prepare ' o word document-see the rubric for mlestone 2 39 A. Explain the implications of capital lease based on how it relates to the company's equipment usage. 40 accounting workbook to support claims 8. Explain how postretirement plans will impact the company financially in the short and long term, using examples from the 3 FINANCIAL INFORMATION FOR THIS MILESTONE 5 Postretirement Benefits 46 requested that you report the short- and long-term financial implications of this Peyton Approved has revised its postretirement plan. It will now provide health insurance to retired employees. Management has is currently employing 60, and actuaries estimate that the company has a pension liability of $107.041.70 The company The estimated cost of retired employees' health insurance is $43,718.91. Prepare adjusting entries for the pension liability and the health insurance liabil 49 Leases Six ovens were rented on December 31, with $20,000 charged to rent expense. The lease runs for 6 years with an implicit interest rate of 5%. At the end of the 6 years, peyton will own them. Make any necessary adjusting entries. 2017 Instructions Milestone 2 Balance Sheet 2017 pe here to search E10 2