There are two sets of questions for this assignment; a total of 15. After reviewing the references, the first set of questions requires me to answer the questions below and explain your answer with numbers, computations, or a sentence or two using the attached balance sheet as a guide. The second set of five questions directs me to assume that ABC Company is a small specialty retail store. Ratios are relevant when assessed over time or across companies. IBIS is a comprehensive resource containing market research and statistics, which can be used to compare ABC Company to the industry and leaders in the industry.
Proper/correct grammar IS A MUST. Do not use an essay format for any part of the assignment. Show sources when appropriate and APA format is suggested, but not required.
Part I. Respond to all questions showing your computations and/or using your own words.
• The objective for this assignment is to evaluate accounting concepts of balance sheet.
Part II. Show the formulas for the computations. Two to three sentences are sufficient to respond to questions 1 through 4. Access the IBIS database for instructions to question 5.