- Write a 2- to 3-page ( a full page typically has at least 300 words) report, single spaced, one-inch margins, 12-point font, with a double space between paragraphs.
- Please keep your report to no more than 3 pages.
- Page count does not include title page, tables and exhibits, table of contents, and reference list.
- Include a title page (include your name on the title page). Use headings in your report such as Statement of Owners’ Equity and Statement of Cash Flows (topics from the textbook); other examples would be Balance Sheet and Income Statement.
- Include a brief introduction of your company as well as a conclusion/summary at the end. The bulk of your report should cover the accounting topics in Weeks 1 and 2 (Owners’ Equity, Financial Ratios and Statement of Cash Flows) as well as the Balance Sheet and Income Statement. ACCT 221 is not identical to ACCT 220. Discussions continue through week 5.
- You will also be required to include the Income Statement, Balance Sheet, Statement of Owners’ Equity, and Statement of Cash Flows as attachments to your report. You can cut and paste directly from the SEC 10-K Report. These are considered attachments and are not part of the required page count for the report.
- APA style is required for citations and a reference list. Include in text citations. The reference list is the most important.
- Your report should use one-inch margins on the left, right, top, and bottom of each page, and font set at 12 point.
What were the corporation’s net sales, cost of goods sold, and gross profit?
Net Sales=75,462 (millions)
Cost of goods sold= 44,914(millions)
What was the corporate tax rate? This should be an item in the notes to the financial statement. Required disclosure usually explains the federal statutory rate and a reconciliation to the actual tax rate of the company each year.
21% (Page 42)
Read the Statement of Comprehensive Income. Notice the first line is the net income from the Income Statement. Accumulated other comprehensive net income (or net loss) is an item in the Statement of Owners’ Equity section and in the Balance Sheet. Post the value from the Balance Sheet and comment on whether this item is increasing or decreasing (take care with the concept of change and net income or net loss).
Accumulated other comprehensive net income is increasing.
December 31, 2017 – (1,283) (millions)
December 31, 2018 – (6,476) (millions)
What items appear under Other Comprehensive Income (Loss)?
Net foreign currency translation adjustments
Net gains (losses) on available-for-sale securities
Net unrealized gains (losses) on available-for-sale securities
Net change in pension and other benefit liabilities
What is the account and the amount of the bottom-line item on the Statement (or Consolidated Statement) of Comprehensive Income?
Comprehensive income – 4,334 (millions)
Link to the Coca cola 10k report for the company is here. https://www.coca-colacompany.com/investors/investo…