learn.snhu$-$edu$/$d$2/$Ve$/$content$/1968052/$ViewContent$/42158871/$View

trees

chalien machine

trives butleole

Jinkedn

paperes

sinks

Perpet One Oudel

All Boct ravery,

Project One Analysis Paper

$4.$ Summarize the financial components included in the current assets and liabilities section of the Balance Sheet for the given company.

$5.$ Justify the difference between current assets and liabilities. Include the following details in your response:

A$.$ Explain why the balance sheet is arranged the way it is$.$

B$.$ Determine if the same asset or liability can have both short$-$term and long$-$term components and provide your rationale.

C$.$ Explain how variances in data can be detected for current assets and liabilities using relevant tools.

$6.$ Justify why footnotes for current assets and liabilities are important in decision making for the company. Include the following details in your response:

A$.$ Explain why the balance sheet amounts alone are not sufficient in providing the information needed in decision making.

$7.$ Explain why FIFO is the best choice for this given company.

$8.$ Cite the applicable FASB codification section for the following items as a list: cash and cash equivalents, inventory, and receivables.

If you need writing support, access the Academic Support module of your course.

What to Submit

To complete this project, you must submit the following:

Completed Project One Workbook Template

Submit the same file submitted for the Project One Milestone with your instructor feedback the following tabs completed: Corrected Journal Entries, Corrected Inventory, Ledger Accounts, Income Statement, and Balance Sheet. The Ledger Accounts, Income Statement, and Balance Sheet tabs should be based on the Corrected Journal Entries and Corrected Inventory tabs$.$ This work should be completed using Microsoft