Everett CC ACCNT 202 ACCOUNTING 202 DUE DATE: Sunday, May 1 (11:59 P.M.) ANNUAL REPORT PROJECT
ACCOUNTING 202DUE DATE: Sunday, May 1 (11:59 P.M.)ANNUAL REPORT PROJECTSTUDENT NAME:General project instructions:Please read this document carefully, if you submit the assignment incorrectly and are asked toresubmit it for any reason, it will be considered as at least one day late.Complete this document using the annual report that you downloaded for Part 1.Do not create a new or separate document; just complete the one I provide. Almost all theinformation for this project should come from your companyâs annual report.Throughout all the parts of the project, information is requested from specific pages in the annualreport. You will need to take a readable screenshot or picture of the page(s) requested and insert it inthis document where requested.► If you need help taking a screenshot please watch this video: https://youtu.be/EoTpIYLBtKs► If you need help cropping, or sizing, a screenshot please watch this video:https://youtu.be/BkeBauCpuUgWhen a question asks you to explain, describe, analyze, etc., use complete sentences and wellorganized paragraphs.Part 2 (20 pts.) (Use the same company from Part1.)Name of company chosen: _________________________________(You will use the same company for all parts of the project)Year of the annual report: ______________CHAPTER 8: LONG-TERM ASSETSA. THE BASICSLocate the companyâs balance sheet in your annual report that you identified in Part 1.Balance sheet date: __________________ Page on which balance sheet appears: _________(Insert screen shot of the balance sheet here.)1. The accounting equation is Assets = Liabilities + Stockholdersâ Equity. Replacing the words in theaccounting equation with dollar amounts; give the companyâs accounting equation at the end of thecurrent and prior years of the annual report.Assets = Liabilities + EquityAnnual Report: Current year: _______________ = ______________ _______________Annual Report: Last year: _______________ = ______________ _______________2. List the categories, or sections, of the Asset area on the balance sheet:3. Property, plant and equipmentRefer to the notes of the financial statements in the annual report that you identified in Part 1. Thenote, âSummary of Significant Accounting Policies,â should provide information about the companyâsdepreciation and amortization methods. You will also need to refer to the other notes to the financialstatements and to the financial statements themselves in order to answer the questions in all parts of thisproject.IMPORTANT: Indicate the page number in which the information was found and insert a screen shotbelow the question.a. What depreciation method does the company use? Page No._________________________________________________(Insert screen shot here to support your answer.)b. What is the amount of depreciation expense for the current year? Page No._____(Hint: Look at the operating activities section of the cash flow statement if the indirect method was used.)Annual Report: Current year $ __________________(Insert screen shot here to support your answer.)Last year $ ___________________4. Intangible assetsa. Does the company have any intangible assets? If so, list them here. Page No. _____(Insert screen shot here to support your answer.)b. Does the company report any goodwill? ______ Page No._____What is the amount? __________________(Insert screen shot here to support your answer.)B. FURTHER ANALYSISCompare the current year ratios.1. Using the formula given in the textbook, calculate the following for the past two years: Show yourcomputations.You will find prior yearsâ amounts in the Five-Year Summary of Selected Financial Data that you found inPart 1.Annual ReportCurrent YearLast Yeara. Total Asset turnover:_____________________b. Explain what information this ratio provides. Why do we use it?c. How do the results for your company compare by year? Explain and give possible reasons forwhat youâve found. (at least one paragraph)C. INFORMATION FOR DECISION MAKING1. Answer the following questions using the companyâs balance sheet in the annual report:a. In which plant asset does the company have the largest dollar amount invested?b. In total dollar amounts, are the companyâs assets primarily short-term (current) or long-term?How to submit this assignment:Complete and submit this document in Canvas on or before the due date. Do not create a new document.