Accounting

Accounting

Directions: Please use an Excel Spreadsheet to present your homework (note: if you have a Mac, you may use Pages). Accounting homework cannot be accomplished in

Microsoft Word. Please use the presentations that have been provided with the course as reference. Also, you may use the Generic Working Papers Excel Workbook found

in the Course Resources to complete this assignment. Please visit the Course Resources section. Please note that you may have additional written homework alongside

these application assignments.

Please complete the following exercises found at the end Chapter 23:
• Problem Set A: Problem 23-2A
• Problem Set A: Problem 23-4A
• Serial Problem: SP 23, Business Solutions (course-long project)

Please complete the following exercises found at the end Chapter 24:

• Problem Set A: Problem 24-4A
• Problem Set B: Problem 24-1B
• Serial Problem: SP 24, Business Solutions (course-long project)

Scenario: On October 1, 2015, Santana Rey launched a computer services company, Business Solutions, that is organized as a proprietorship and provides consulting

services, computer system installations, and custom program development. Rey adopts the calendar year for reporting purposes and expects to prepare the company’s

first set of financial statements on December 31, 2015.

Chapter 23: Serial Problem: SP 23, Business Solutions

Please complete the following:

Business Solutions’s second quarter 2016 fixed budget performance report for its computer furniture operations follows. The $156,000 budgeted expenses include

$108,000 in variable expenses for desks and $18,000 in variable expenses for chairs, as well as $30,000 fixed expenses. The actual expenses include $31,000 fixed

expenses. Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses

separately.

Chapter 24: Serial Problem: SP 24, Business Solutions

Please complete the following:

Santana Rey’s two departments, computer consulting services and computer workstation furniture manufacturing, have each been profitable. Santana has heard of the

balanced scorecard and wants you to provide details on how it could be used to measure performance of her departments.

Required

1. Explain the four performance perspectives included in a balanced scorecard.
2. For each of the four performance perspectives included in a balanced scorecard, provide examples of measures Santana could use to measure performance of her

departments.

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