Using Word and/or Excel, prepare corrected balance sheet and statement of income and retained earnings including supporting schedules that incorporate the following items (Excel – Financial statements and journal entries. Word – Examinations, summaries, disclosure notes, etc…):
- Evaluation of the issuance of common stock.
- Assessment of the accounting for start-up costs.
- Analysis of the capitalization vs. expense treatment.
- Evaluation of revenue recognition including income deferral.
- Formulation of the accounting treatment for net operating losses.
- Calculation of the earnings per share.
- Prepare a statement of cash flows.
- Draft a complete set of financial statement disclosure notes.