HOS 200 Assignment # 2 Balance Sheet Assignment

Format: Individual Assignment

Due: Wednesday October 13th, 2021 by 4:00 p.m. EST Total Marks: 50

Percentage of Term Mark: 25%

Submission Method: Blackboard

Using the below information as your format, use Excel to create a balance sheet for a food and beverage business. Refer to Balance Sheet Layout Example PDF example for how your Excel spreadsheet should look. Formulas need to be used to determine totals, percentages, etc. The yellow highlighted areas are those you must figure out on your own. It must be done as an Excel Worksheet when you hand it in. I will be checking your formulas using a built-in auditing tool, so please ensure youre doing the work in Excel using the formulas weve discussed.

Cash:

Accounts Receivable:

Food and Beverage Inventory: Prepaid Expenses (Insurance): Notes Receivable (from owner):

$38,800.00 $780.00 $26,700.00 $4,500.00 $8,000.00

Car (2 years old bought for $30,000.00) Furniture/Fixtures (2 years old; paid $225,000.00) Equipment (2 years old; paid $250,000.00) Buildings (2 years old; paid $300,000.00)

Land: (2 years old; paid $200,000.00)

3%/year 2%/year 2%/year 0.5%/year 2%/year

Goodwill (to be determined) = (Total Liabilities & Capital Total Current Assets Total Fixed Assets)

Accounts payable:

Sales Tax Payable:

Payroll Tax Payable:

Accrued Wages Payable: Short-term Bank Note Payable: Long-term Bank Note Payable: Mortgage Payable:

Owners Equity: Retained Earnings:

$18,000.00 $12,000.00 $4,000.00 $12,000.00 $10,000.00 $400,000.00 $250,000.00

$250,000.00 $100,000.00