ACC 405 Final Project Two Guidelines and Rubric
Overview
In the role of the accountant, decisions are not always made based on what the numbers show. There are often ethical considerations in addition to financial
considerations. While the rules and guidelines of the Generally Accepted Accounting Principles (GAAP) are set firmly in place, it is up to the accountant to
interpret them.
For Final Project Two, you will create a memo to help three partners in a business fairly decide how to split the profits from the first year of their business. While
one of the partners has infused the most cash into the business, the others have brought value in unique ways—including attracting customers and overseeing
the day-to-day activities.
The final product will be submitted in Module Seven.
In this assignment, you will demonstrate your mastery of the following course competencies:
?
?
ACC-405-01: Analyze economic activity of complex or unique business situations.
ACC-405-03: Explore the impact of emerging domestic, global, and technological factors that could affect financial reporting.
Prompt
Compose a memo addressing the allocation of profits to three partners of a new business: Alan, Bob, and Carol. It is your responsibility to address the potential
ways in which the first-year profits can be divided among these partners, including whether the partners should be taking a salary, how the partners’ capital
accounts may be affected by various decisions, and the most ethical way that the profits could be divided.
Your memo should answer the following prompt: A new business client comes to your office. There are three owners of the business. The three individuals, Alan,
Bob, and Carol, are thinking about forming a partnership. Alan is only investing $1 million in cash. He will not have anything to do with the daily activities of the
business. Bob has had some experience in the business and will be responsible for the day-to-day operations of the business. Carol has a great deal of experience
and many contacts within the business. She will be responsible for attracting new clients. Neither Bob nor Carol are investing cash into the partnership. During
the first year of operation, the partnership generated a profit of $150,000. None of the partners received distributions during the year.
1
Specifically, the following critical elements must be addressed:
I.
Allocation of Profits
A. Explain how allocating the profits evenly between the partners would work. Consider the fairness to each of the partners in your response.
[ACC-405-03]
B. What would be the value of each partner’s capital account at the end of the year, given that the profits were allocated evenly among the three?
Support your answer with quantitative data and an explanation of how you came to this conclusion. [ACC-405-01]
C. Explain an alternative method of allocating the profits if 80% of the profits was given to the cash investor and the remaining amount was split
evenly between the other two partners. [ACC-405-03]
D. What would be the value of each partner’s capital account at the end of the year, given this alternative allocation method? Support your
answer with quantitative data and an explanation of how you came to this conclusion. [ACC-405-01]
II. Payment of Salary
A. Should the two partners who are working in the business receive a salary? Why or why not? Be sure to support your decision with research and
quantitative data. [ACC-405-03]
B. If the two non-investors did receive a salary, how would their capital account be affected? How would this impact a potential future liquidation
or buyout? Be sure to thoroughly explain and support your answer. [ACC-405-03]
C. Should the cash investor receive a higher share of the profits or other sharing options? Why or why not? Support your opinions with research
and quantitative data. [ACC-405-03]
D. If the cash investor did receive a salary, how would his capital account be affected? How would this impact a potential future liquidation or
buyout? Be sure to thoroughly explain and support your answer. [ACC-405-01]
E. How do the payment of salary and the allocation of profit affect entries and the financial bottom line? Be sure to support your explanation with
concrete examples. [ACC-405-01]
F. How could the payment of salary and allocation of profit be a more effective method of splitting the company’s profits for the three partners?
Explain a scenario in which the three partners would all be compensated fairly, and support your answer with logical reasoning. [ACC-405-03]
G. What would be the value of each partner’s capital account at the end of the year, given your proposed fair allocation method? Support your
answer with quantitative data and an explanation of how you came to this conclusion. [ACC-405-01]
Deliverable
Final Submission: Partnership Accounting Memo
In Module Seven, you will submit your final project. It should be a complete, polished artifact containing all of the critical elements of the final product. This
submission will be graded with the Final Project Two Rubric.
2
Final Project Two Rubric
Guidelines for Submission: The memo should be about 2–3 pages in length and should use double spacing, 12-point Times New Roman font, one-inch margins,
and citations in APA style.
Critical Elements
Allocation of Profits:
Allocating the Profits
[ACC-405-03]
Exemplary (100%)
Meets “Proficient” criteria and
expertly balances brevity with
detail
Allocation of Profits:
Value of Capital Account
[ACC-405-01]
Meets “Proficient” criteria,
demonstrates a complex grasp
of capital accounts, and
supports answer with strong
qualitative data
Meets “Proficient” criteria and
illustrates a sophisticated
explanation of alternative
methods for allocating profits
Meets “Proficient” criteria and
provides keen insight into
capital accounts given the
alternative method
Allocation of Profits:
Alternative Method
[ACC-405-03]
Allocation of Profits:
Value of Capital Account
with Alternative
Allocation Method
[ACC-405-03]
Payment of Salary: Salary
Distribution
[ACC-405-03]
Payment of Salary: NonInvestor Capital Accounts
[ACC-405-03]
Meets “Proficient” criteria and
demonstrates a sophisticated
awareness of salary
distributions
Meets “Proficient” criteria and
makes cogent connections
between salary and capital
accounts
Proficient (85%)
Explains a fair allocation of
profits to each partner, and
response is clear and free of
errors
Provides value of each
partner’s capital account and
supports answer with
qualitative data
Needs Improvement (55%)
Explains a fair allocation of
profits to each partner, but
response is unclear or contains
inaccuracies
Provides value of each
partner’s capital account but
does not support answer with
qualitative data
Not Evident (0%)
Does not explain a fair
allocation of profits to each
partner
Value
7.92
Does not provide value of each
partner’s capital account
9.50
Explains an alternative method
for allocating profits
Explains an alternative method
for allocating profits, but
response contains errors or is
illogical
Calculates the value of each
partner’s capital account but
doesn’t consider the
alternative method, or
response contains errors or is
illogical
Determines whether or not
the two partners should
receive a salary but does not
explain why or why not
Considers if the non-investors
received a salary, how their
capital account would be
affected, but does not explain
or support response
Does not explain an alternative
method for allocating profits
7.92
Does not calculate the value of
each partner’s capital account
using the alternative method
7.92
Does not determine whether
or not the two partners should
receive a salary
7.92
Does not consider if the noninvestors received a salary,
how their capital account
would be affected
7.92
Calculates the value of each
partner’s capital account given
the alternative method
Determines whether or not
the two partners should
receive a salary and explains
why or why not
Considers if the non-investors
received a salary, how their
capital account would be
affected; thoroughly explains
and supports response
3
Critical Elements
Payment of Salary: Cash
Investor
[ACC-405-03]
Exemplary (100%)
Meets “Proficient” criteria and
cites specific, relevant
examples and data to establish
a robust context for analysis
Payment of Salary: Cash
Investor Capital Account
[ACC-405-01]
Meets “Proficient” criteria and
uses industry-specific language
to establish expertise
Payment of Salary:
Financial Bottom Line
[ACC-405-01]
Meets “Proficient” criteria and
draws a connection between
payment of salary and the
bottom line of the company
that demonstrates expertise
Meets “Proficient” criteria and
demonstrates a sophisticated
awareness of splitting
company profits
Payment of Salary:
Splitting the Company’s
Profits
[ACC-405-03]
Payment of Salary: Value
of Each Partner’s Capital
Account
[ACC-405-01]
Meets “Proficient” criteria and
demonstrates a complex grasp
of capital accounts
Articulation of Response
Submission is free of errors
related to citations, grammar,
spelling, syntax, and
organization and is presented
in a professional and easy to
read format
Proficient (85%)
Determines why or why not
the cash investor should
receive a higher share of the
profits and supports opinions
with research and quantitative
data
Thoroughly explains how the
cash investor’s capital account
would be affected if the
investor took a salary
Explains how the payment of
salary could impact the
financial bottom line of the
company and supports
argument with examples
Explains a scenario in which
the payment of salary and
allocation of profit could be a
more effective method of
splitting the company’s profits
Accurately calculates the value
of each partner’s capital
account at the end of the year
and supports answer with
quantitative data and
thorough explanation
Submission has no major
errors related to citations,
grammar, spelling, syntax, or
organization
4
Needs Improvement (55%)
Determines why or why not
the cash investor should
receive a higher share of the
profits but does not support
response with research or
quantitative data
Explains how the cash
investor’s capital account
would be affected if the
investor took a salary, but
response is not cohesive or
contains errors
Explains how the payment of
salary could impact the
financial bottom line of the
company but does not support
argument with examples
Explains a scenario for the
payment of salary and
allocation of profit, but it is not
more effective, or response
contains errors or is illogical
Calculates the value of each
partner’s capital account at
the end of the year, but does
not support answer with
quantitative data or thorough
explanation, or response
contains errors or is inaccurate
Submission has major errors
related to citations, grammar,
spelling, syntax, or
organization that negatively
impact readability and
articulation of main ideas
Not Evident (0%)
Does not determine why or
why not the cash investor
should receive a higher share
of the profits
Value
7.92
Does not explain how the cash
investor’s capital account
would be affected if the
investor took a salary
9.50
Does not explain how the
payment of salary could
impact the financial bottom
line of the company
9.50
Does not explain a scenario in
which the payment of salary
and allocation of profit could
be a more effective method of
splitting the company’s profits
Does not accurately calculate
the value of each partner’s
capital account at the end of
the year
7.92
Submission has critical errors
related to citations, grammar,
spelling, syntax, or
organization that prevent
understanding of ideas
6.56
Total
100%
9.50
Southern New Hampshire University
ACC 405 Advanced Accounting
INSTRUCTIONS FOR MILESTONE ONE (Due in Module Four)
IMPORTANT NOTE:
Make sure to completely review the rubric for Milestone One
You might want to print out the financial information
Show your work
Use the data from this milestone and begin working on your final project due in Module Six
ITEMS TO COMPLETE FOR THIS MILESTONE:
GENERAL
You are the accountant for Posey Company. Prepare computations, consolidation entries, and consolidation entries for the preparation of
consolidated financial statements for 20X7. Show your calculations.
SUPPORTING COMPUTATIONS
a. Compute the amount of the goodwill as of January 1, 20X7.
b. Compute the balance of Posey’s Investment in Stargell Stock account as of January 1, 20X7. (Do not round your intermediate
calculations. Round your final answer to nearest whole dollar.)
c. Compute the income that should be assigned to the noncontrolling interest in the 20X7 consolidated income statement. (Do not
round your intermediate calculations. Round your final answer to nearest whole dollar.)
d. Compute the total noncontrolling interest as of December 31, 20X6. (Do not round your intermediate calculations. Round
your final answer to nearest whole dollar.)
e. Compute the gain or loss on the constructive retirement of Stargell’s bonds that should appear in the 20X7 consolidated income
statement. (Do not round your intermediate calculations. Round your final answer to nearest whole dollar.)
f. Present all consolidation entries that would appear in a three-part consolidation worksheet as of December 31, 20X7. (If no entry
is required for a transaction/event, select “No journal entry required” in the first account field. Do not round your
intermediate calculations. Round your final answers to nearest whole dollar.)
g. Prepare and complete a three-part worksheet for the preparation of consolidated financial statements for 20X7. (Values in the first
two columns (the “parent” and “subsidiary” balances) that are to be deducted should be indicated with a minus sign, while all values in the
“Consolidation Entries” columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine
all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one
amount and enter this amount in the credit column of the worksheet.)
FINANCIAL INFORMATION FOR THIS MILESTONE
Refer to Trial Balance 2017 information (red tab)
Posey Manufacturing Company acquired 90% of Stargell Corporation’s outstanding common stock on December 31, 20X5, for $1,116,900. At that date, the
fair value of the noncontrolling interest was $124,100, and Stargell reported common stock outstanding of $487,000, premium on common stock of
$267,000, and retained earnings of $407,000. The book values and fair values of Stargell’s assets and liabilities were equal except for land, which was worth
$30,000 more than its book value.
On April 1, 20X6, Posey issued at par $200,000 of 10% bonds directly to Stargell; interest on the bonds is payable March 31 and September 30. On January 2,
20X7, Posey purchased all of Stargell’s outstanding 10-year, 12% bonds from an unrelated institutional investor at 98. The bonds originally had been issued
on January 2, 20X1, for 101. Interest on the bonds is payable December 31 and June 30.
Since the date it was acquired by Posey Manufacturing, Stargell has sold inventory to Posey on a regular basis. The amount of such intercompany sales
totaled $67,000 in 20X6 and $83,000 in 20X7, including a 30% gross profit. All inventory transferred in 20X6 had been resold by December 31, 20X6, except
inventory for which Posey had paid $18,000 and did not resell until January 20X7. All inventory transferred in 20X7 had been resold at December 31, 20X7,
except merchandise for which Posey had paid $16,667
As of December 31, 20X7, Stargell had declared but not yet paid its fourth-quarter dividend of $12,750. Both Posey and Stargell use straight-line depreciation
and amortization, including the amortization of bond discount and premium. On December 31, 20X7, Posey’s management reviewed the amount attributed
to goodwill as a result of its purchase of Stargell common stock and concluded that an impairment loss in the amount of $25,000 had occurred during 20X7
and should be shared proportionately between the controlling and noncontrolling interests. Posey uses the fully adjusted equity method to account for its
investment in Stargell.
HOME
On December 31, 20X7, trial balances for Posey and Stargell appeared as follows:
Item
Cash
Posey Manufacturing
Debit
Credit
$
49,500
$
HOME
Stargell Corporation
Debit
39,000
Current Receivables
121,500
90,100
Inventory
Investment in
Stargell Stock
Investment in
Stargell Bonds
Investment in Posey
Bonds
Land
Buildings &
Equipment
Cost of Goods Sold
Depreciation &
Amortization
Other Expenses
Dividends Declared
317,000
364,900
Accumulated
Depreciation
Current Payables
Bonds Payable
Premium on Bonds
Payable
Common Stock
Premium on
Common Stock
Retained Earnings,
January 1
Sales
Other Income
Income from Stargell
Corp.
Total
1,243,800
985,000
200,000
1,241,000
518,000
2,940,000
1,915,000
1,829,000
426,000
184,000
65,000
632,000
61,000
206,000
51,000
$ 1,050,000
$
699,190
200,000
597,000
213,000
1,000,000
3,000
910,000
487,000
610,000
267,000
2,848,950
457,000
3,010,000
143,000
801,000
50,000
132,660
$ 9,603,800
$ 9,603,800
$
3,875,000
$
3,875,000
Required:
a. Compute the amount of the goodwill as of January 1, 20X7.
Goodwill at acquisition
Goodwill as of January 1, 20X7:
Fair Value given of Stargell
FV of non-controlling interest
Total FV:
Book Value of net assets
Differential @ acquisition
Increase in FV of land
Goodwill at acquisition
$
$
$
$
$
$
Amount ($)
1,116,900.00
124,100.00
1,241,000.00
(1,161,000.00)
80,000.00
(30,000.00)
$
50,000.00
b. Compute the balance of Posey’s Investment in Stargell Stock account as of January 1, 20X7. (Do not round your intermediate
calculations. Round your final answer to nearest whole dollar.)
Balance in investment
Stargell stockholders’ equity, January 1, 20X7:
Common Stock
Premium on stock
Retained Earnings
Stockholders Equity Jan 1, 20X7
Posey’s Ownership share
BV of shares held by Posey
Differential @ Jan 1, 20X7
Inventory sale deferred Gross Profit
Balance in Investment in Stargell Stock account,
January 1, 20X7
$
$
$
$
$
$
$
$
487,000.00
267,000.00
457,000.00
1,211,000.00
0.90
1,089,900.00
72,000.00
(4,860.00)
$
1,157,040.00
$ 1,348,650.00
$ 138,600.00
$
45,900.00
$
(4,050.00)
$
4,860.00
$
22,500.00
$ (21,600.00)
$
5,400.00
$ 1,157,040.00
e. Compute the gain or loss on the constructive retirement of Stargell’s bonds that should appear in the 20X7 consolidated
Gain
Gain on constructive retirement of Stargell’s bonds:
4860
Original Proceeds from issuance of Stargell’s Bonds
$
1,010,000.00
Premium amortized to Jan 2, 20X7
$10,000 (6/10)
BV of bonds at constructive retirement
Price Paid by Posey
$
$
$
(6,000.00)
1,004,000.00
(980,000.00)
Gain on constructive retirement of Stargell’s bonds
$
24,000.00
c. Compute the income that should be assigned to the noncontrolling interest in the 20X7 consolidated income statement. (Do
not round your intermediate calculations. Round your final answer to nearest whole dollar.)
Income to noncontrolling interest
Stargell’s 20X7 net income *
Add: 20X6 intercompany profit realized in 20×7
Constructive gain on retirement of bonds
Less: Unrealized intercompany profit on 20×7 transfer
$
$
$
154,000.00
5,400.00
24,000.00
$
5,000.10
$
(6,000.00)
NonControlling Interest’s share
$
$
$
(25,000.00)
157,400.10
0.10
Income to noncontrolling interest
$
15,740.01
Total Income
$
$
$
801,000.00
50,000.00
851,000.00
COGS
Depreciation & Amort Expense
Other Selling Expenses
Total Expenses
$
$
$
$
(426,000.00)
(65,000.00)
(206,000.00)
(697,000.00)
Portion of constructive gain on bond retirement recognized
currently by separate affilates ($24k / 4)
Impariment of Goodwill
Subsidiary income to be apportioned
Net income calculations *
Sales
Other Income
Net income
$
154,000.00
d. Compute the total noncontrolling interest as of December 31, 20X6. (Do not round your intermediate
calculations. Round your final answer to nearest whole dollar.)
Total noncontrolling interest
Total noncontrolling interest, December 31, 20X6:
Stargell’s stockholders’ equity, December 31, 20X6
Unrealized profit on Intercompany Sale of Inv
Stargell’s realized equity, December 31 20×6
Differential assigned to land
Differential assigned to goodwill
$
$
$
$
$
$
1,211,000.00
(5,400.00)
1,205,600.00
30,000.00
50,000.00
1,285,600.00
NonControlling Interest’s share
$
0.10
Total noncontrolling interest, December 31, 20X6
$
128,560.00
Milestone One instructions
A
Record the basic consolidation entry.
Accounts
Debit
A
B
Record the amortized excess value differential entry.
C
Record the excess value (differential) reclassification entry.
Common Stock
$
487,000.00
Premium on Common Stock
$
267,000.00
Retained Earnings
$
457,000.00
Income from Stargell Corp
$
155,159.91
NCI in NI of Stargell Corp
$
17,239.99
$
25,000.00
Land
$
30,000.00
Goodwill
$
25,000.00
Investment in Stargell Corp
$
4,860.00
NCI in NA of Stargell Corp
$
540.00
$
83,000.00
$
200,000.00
$
20,000.00
$
5,000.00
Dividends Declared
D
Investment in Stargell Corp
Record the reversal of last year’s deferral.
NCI in NA of Stargell Corp
B
E
Goodwill Impairment Loss
Income from Stargell Corp
Record the deferral of the 20X7 unrealized profits on the inventory transfer.
NCI in NI of Stargell Corp
C
F
Record the elimination of the intercompany holdings of Posey’s bonds.
Investment in Stargell Corp
NCI in NA Stargell Corp
G
Record the entry to eliminate the intercompany interest receivables/payables.
D
H
COGS
Record the entry to eliminate the accrued interest on the intercompany bonds.
E
I
COGS
Record the entry to eliminate the intercompany holdings of Stargell’s bonds.
J
Sales
Inventory
F
Record the entry to eliminate the intercompany dividend payable/receivable.
Bonds Payable
Investment in Posey Bonds
G
Other Income
Other Expenses
H
Current Payables
Current Recievables
I
Bonds Payable
$
Premium on Bonds Payable
$
1,000,000.00
3,000.00
Other Income (interest)
$
125,000.00
$
11,475.00
Investment in Stargell Bonds
Gain on retirement bonds
other Expenses (interest)
J
Current Payables
Current Recievables
Credit
$
51,000.00
$
1,199,159.91
$
133,239.99
$
22,500.00
$
2,500.00
$
49,500.00
$
5,500.00
Beg BV
Net Income +
Dividends End BV
NCI 10%
$ 121,100.00
$ 15,400.00
$ (5,100.00)
$ 131,400.00
Inv 20×6 reversal
Inv 20×7 Def GP
bond retirement gain
amort of retirement gain
Total
$
$
$
$
$
Total
5,400.00
(5,000.10)
24,000.00
(6,000.00)
18,399.90
$
$
$
NCI 10%
Posey 90%
8,000.00 $
72,000.00 $
(2,500.00) $
(22,500.00)
5,500.00 $
49,500.00 $
$
5,400.00
Excess Value Calc
Beg Bal
changes
End Balance
20×6 Transactions
$
78,000.00
$
5,000.00
$
200,000.00
sales $
COGS $
Gp $
30%
20×7 Transactions
$
20,000.00
sales $
COGS $
Gp $
Posey Co 90%
Common Stock
$ 1,089,900.00 $ 487,000.00
$
138,600.00
$
(45,900.00)
$ 1,182,600.00 $ 487,000.00
$
$
$
$
$
Posey’s
4,860.00
(4,500.09)
21,600.00
(5,400.00)
16,559.91
$
$
$
$
$
Premium on Stock
$
267,000.00
$
267,000.00
$
$
$
Goodwill
50,000.00
(25,000.00)
25,000.00
NCI Share
540.00
(500.01)
2,400.00
(600.00)
1,839.99
Land
30,000.00
30,000.00
Total
67,000.00
46,900.00
20,100.00
$
$
$
Re-sold
49,000.00
34,300.00
14,700.00
$
$
$
Ending inv
18,000.00
12,600.00
5,400.00
Total
83,000.00
58,100.00
24,900.00
$
$
$
Re-sold
66,333.00
46,433.10
19,899.90
$
$
$
Ending inv
16,667.00
11,666.90
5,000.10
Retained Earnings
$
457,000.00
$
154,000.00
$
(51,000.00)
$
560,000.00
$
5,000.00
$
985,000.00
$
24,000.00
$
119,000.00
$
11,475.00
30%
POSEY MANUFACTURING COMPANY AND SUBSIDIARY
Consolidated Financial Statement Worksheet
December 31, 20X7
Posey Co.
Stargell Corp.
$
$
$
$
$
3,010,000.00
143,000.00
(1,829,000.00)
(184,000.00)
(632,000.00)
$
$
$
$
$
801,000.00
50,000.00
(426,000.00)
(65,000.00)
(206,000.00)
$
$
132,660.00
640,660.00
$
154,000.00
$
640,660.00
$
154,000.00
$
$
$
$
2,848,950.00
640,660.00
(61,000.00)
3,428,610.00
$
$
$
$
457,000.00
154,000.00
(51,000.00)
560,000.00
$
49,500.00
$
121,500.00
$
317,000.00
$
1,241,000.00
$
2,940,000.00
$ (1,050,000.00)
$
1,243,800.00
$
985,000.00
$
$
$
$
$
$
39,000.00
90,100.00
364,900.00
518,000.00
1,915,000.00
(597,000.00)
$
200,000.00
2,530,000.00
Income Statement
Sales
Other Income
Less: COGS
Less: Depr. & Amort. Expense
Less: Other Expenses
Goodwill Impairment Loss
Gain on Bond Retirement
Income from Stargell Corp.
Consolidated Net Income
NCI in Net Income
Controlling Interest in NI
Statement of Retained Earnings
Beginning Balance
Net Income
Less: Dividends Declared
Ending Balance
Balance Sheet
Assets
Cash
Current Receivables
Inventory
Land
Buildings & Equipment
Less: Accumulated Depreciation
Investment in Stargell Stock
Investment in Stargell Bonds
Investment in Posey Bonds
Goodwill
Total Assets
Liabilities & Equity
Current Payables
Bonds Payable
Premium on Bonds Payable
Common Stock
Premium on Common Stock
Retained Earnings
NCI in NA of Stargell Corp.
Total Liabilities & Equity
$
5,847,800.00
$
$
$
699,190.00
200,000.00
910,000.00
610,000.00
3,428,610.00
5,847,800.00
$
$
$
$
$
$
$
$
$
$
$
$
213,000.00
1,000,000.00
3,000.00
487,000.00
267,000.00
560,000.00
$
$ 2,530,000.00
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MIlestone 1 instructions
Consolidation Entries
DR
$
$
$
CR
Consolidated
83,000.00
145,000.00
$
83,400.00
$
139,000.00
$
$
$
$
$
24,000.00
22,500.00
268,900.00
2,500.00
271,400.00
$
$
$
$
271,400.00 $
51,000.00 $
322,400.00 $
25,000.00
$
$
$
$
155,159.91
408,159.91
17,239.99
425,399.90
$
$
457,000.00
425,399.90
$
882,399.90
$
30,000.00
$
4,860.00
$
$
25,000.00
59,860.00
$
$
$
$
$
$
$
$
16,475.00
1,200,000.00
3,000.00
487,000.00
267,000.00
882,399.90
540.00
2,856,414.90
$
3,728,000.00
$
48,000.00
$ (2,171,600.00)
$
(249,000.00)
$
(699,000.00)
$
(25,000.00)
$
24,000.00
$
0.09
$
655,400.09
$
14,739.99
$
640,660.10
$
$
16,475.00
5,000.00
$
$
$
1,248,659.91
985,000.00
200,000.00
$
2,455,134.91
2,848,950.00
640,660.10
(61,000.00)
3,428,610.10
$
88,500.00
$
195,125.00
$
676,900.00
$
1,789,000.00
$
4,855,000.00
$ (1,647,000.00)
$
0.09
$
$
$
25,000.00
$
5,982,525.09
$
$
$
$
$
$
322,400.00
138,739.99
461,139.99
$
$
$
$
$
895,715.00
910,000.00
610,000.00
3,428,610.10
138,199.99
5,982,525.09
Southern New Hampshire University
INSTRUCTIONS FOR FINAL
IMPORTANT NOTE:
Make sure to completely review the rubric for the final project.
This page contains new information that must be included in the final project but has not been the milestone.
ITEMS TO COMPLETE FOR THIS MILESTONE:
GENERAL
II. Final updated Excel Workbook and Memo
h. Prepare a memo outlining the unique calculations required on the consolidation worksheet and on t
cash flows if Posey also obtains an international subsidiary with non-US$ functioning currency. [AC
Milestones
Final Submission: Consolidation Workbook and Memo
In Module Six, you will submit your final project. It should be a complete, polished artifact containing all of the cr
the final product. It should reflect the incorporation of feedback gained throughout the course. In addition to
milestone work, make sure that you include the following elements from the prompt above, which were not i
milestones:
Prepare a memo outlining the unique calculations required on the consolidation worksheet and on the s
flows if Posey also obtains an international subsidiary with non-US$ functioning currency
This submission will be graded with the Final Project One Rubric.
HOME
he milestone.
tion worksheet and on the statement of
unctioning currency. [ACC-405-02]
act containing all of the critical elements of
the course. In addition to revising your
pt above, which were not included in the
worksheet and on the statement of cash
US$ functioning currency.

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