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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.