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ACCT 301 INTERMEDIATE ACCOUNTING FALL 2014 - GROUP PROJECT NOVEMBER 2014 Purpose: This is a group extra credit project and consists of 3 assigned members. See your assigned group # in Appendix B. You are to work in your assigned group. The intent of this project is for each of you to work in groups while educating each other on how to complete a statement of cash flow based on the facts in Appendix A. As an incentive for your effort, each member in your group can earn up to 20 additional points to be added to your final course grade. I highly recommend that each of you put in your best effort and be involved in working through this cash flow statement project and ultimately, contribute to the group. Rules: This is an open book and you are welcome to use any resources (textbook, other research tools, internet…) available to help your group. However, you are not to share with other groups or members outside of your assigned group. I am happy to answer any questions that you might have but only to clarify the project, terms or vagueness of the instructions. Due Date: This project is due on Thursday, December 11, 2014 at 7pm. If your group would like to turn it earlier than December 11, 2014, please feel free to do so. There are no extra credits or bonus points for turning in early. Evaluation: Each of you will have a chance to do an evaluation of yourself as well as members in your group. See evaluation in Appendix C. Evaluation can negatively impact your individual points. Requirements: Please turn in the followings on December 11, 2014.

1. One completed cash flow statement for each group. The completed cash flow statement should be organized and well presented (i.e. recommend that your group use Microsoft Excel to present your answers rather than handwritten solution). Only one completed cash flow statement per group.

2. One completed evaluation form from each member of the group. Each member of the group is required to complete his or her own evaluation and turn it in on December 11, 2014. Evaluation is to be kept confidential and not to share with your group members.

______________________________________________________________________________ Good luck!

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APPENDIX A

CASH FLOW STATEMENT (20 Points)

San Francisco Giants has given you the following financial statement information plus additional data for 2014. Since you are an expert in cash flow statement, SF Giants has asked you to assist in the preparation of the cash flow statement for the year ending December 31, 2014. Please a statement of cash flows for 2014 with the information below. December 31

2013 2014 Cash $42,000 $65,000Accounts receivable (net) 84,000 144,200Inventory 168,000 206,600Land 58,800 21,000Equipment 504,000 789,600TOTAL $856,800 $1,226,400Accumulated depreciation $84,000 $115,600Accounts payable 50,400 86,000Notes payable – short-term 67,200 29,400Notes payable – long-term 168,000 302,400Common stock 420,000 487,200Retained earnings 67,200 205,800TOTAL $856,800 $1,226,400 Additional data for 2014: 1. Net income was $220,200. 2. Depreciation was $31,600. 3. Land was sold at its original cost. 4. Dividends of $81,600 were paid. 5. Equipment was purchased for $84,000 cash. 6. A long-term note for $201,600 was used to pay for an equipment purchase. 7. Common stock was issued to pay a $67,200 long-term note payable.

  

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APPENDIX B

Name  Group # 

Meng,Xi Ying                                                                              1 

Bogati,Kalpana                                                                              1 

Cheng, Wicky                                                                              1 

Lee,Goeun                                                                              2 

Ross,Shawna C.                                                                              2 

Temnewo,Henok Ocbas                                                                              2 

Huang,Jianpeng                                                                              3 

Yu,Jiahui                                                                              3 

Martell,Roberto E                                                                              3 

Wu,Shuai                                                                              4 

Liang,Shannon Qi Hong                                                                              4 

Mendieta, Jonathan                                                                              4 

Khatun,Fatema                                                                              5 

Mangat,Sunvir Singh                                                                              5 

Yu, Jinqing                                                                              5 

Cortez,Paula Betina                                                                              6 

Rodriguez,Amber Christine                                                                              6 

Lapada,Rose Natalie De Gracia                                                                                6 

Hui, Chun Kit                                                                              7 

Chan, Ha                                                                              7 

Shrestha,Roshna                                                                              7 

Joshi,Kanika                                                                              8 

Saldajeno,Jezreel                                                                              8 

Sinn, Wing‐Loen                                                                              8 

Xu,Lingxuan                                                                              9 

Cuadros Ballesteros,Jorge Javier                                                                              9 

Dinh,Chi Mai                                                                              9 

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APPENDIX C  

GROUP EVALUATION Your Name (First, Last): _____________________________SFSU ID#:___________________ Group #: ______ Member names: 1. _____________ 2. ______________ 3. _______________  Questions:  

I. You put in equal efforts as each of your group members?    Yes________ or    No__________  

If no, please explain if you believe you put in more or less effort:_________________________  ______________________________________________________________________________  

    ______________________________________________________________________________    ______________________________________________________________________________    ______________________________________________________________________________     

II. Each of your group members put in equal efforts?    Yes ___________ or No ______________  

If no, please explain if you believe other group members put in more or less effort:__________  ______________________________________________________________________________  

    ______________________________________________________________________________    ______________________________________________________________________________    ______________________________________________________________________________  

III. Other circumstances you would like to explain? ______________________________________  ______________________________________________________________________________  

    ______________________________________________________________________________