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Stockholders' Equity and Financial Analysis

The document summarizes stockholders' equity transactions and financial statements for Grace Corporation for the year 2011. It was noted that board resolution 2011-12-1 declared a 10% cash dividend to be paid on January 30, 2012. The cost of sales analysis shows the monthly and total cost of sales for 2011. The sales analysis shows a comparative net sales table from 2008 to 2011 and notes an overstatement was found in total sales for 2008 and 2011.

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Nesuui Montejo
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95 views3 pages

Stockholders' Equity and Financial Analysis

The document summarizes stockholders' equity transactions and financial statements for Grace Corporation for the year 2011. It was noted that board resolution 2011-12-1 declared a 10% cash dividend to be paid on January 30, 2012. The cost of sales analysis shows the monthly and total cost of sales for 2011. The sales analysis shows a comparative net sales table from 2008 to 2011 and notes an overstatement was found in total sales for 2008 and 2011.

Uploaded by

Nesuui Montejo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

STOCKHOLDERS’ EQUITY

1. Trace from Articles of Incorporation to the stock and transfer books the original
subscription.
- Amounts of subscribed shares presented in the Articles of Incorporation
coincides with the amounts in the books of original subscription.
2. Follow through postings in the general ledger CS and Subscribed CS and Subscription
Receivable to the Stock and Transfer Book.
- Postings to the General Ledger as to Common Shares and Subscribed Shares
are completely presented.
3. Examine minutes of meetings for declarations of dividends.
- Board Resolution 2011-12-1, that Grace Corporation shall pay 10% cash
dividends effective January 10, 2012 payable January 30, 2012.

Revenue and Expenses


1. Vouch
a. Organization cost
- No exceptions noted
b. Salaries and Wages or Payroll
- No exceptions noted
c. Taxes and Licenses
- No exceptions noted
d. Advertising
- No exceptions noted
e. Insurance
- No exceptions noted
2. Analyze
a. Cost of Sales
Grace Corporation
Cost of Sales
For the Year 2011
Month
January P 5,342,356.00 9.43%
February 5,266,997.00 9.30%
March 4,792,627.00 8.46%
April 6,127,495.00 10.82%
May 6,803,923.00 12.01%
June 4,770,269.00 8.42%
July 4,857,439.00 8.57%
August 3,581,742.00 6.32%
September 4,922,788.00 8.69%
October 4,151,050.00 7.33%
November 4,168,814.00 7.36%
December P 1,861,387.00 3.29%
Total 56,646,887.00 100%

b. Sales

Grace Corporation
Comparative Net Sales
For the Year 2008-2011

2008 2009 2010 2011


Month Increase(Decrease)
January 100% (99.59) (99.65) (0.76)
February 100% (99.11) (99.34) (1.55)
March 100% (99.35) (99.75) (0.90)
April 100% (99.19) (99.01) (1.80)
May 100% (99.23) (99.01) (1.77)
June 100% (98.22) (98.74) (3.31)
July 100% (99.20) (99.42) (1.37)
August 100% (99.33) (99.42) (1.25)
September 100% (99.27) (99.43) (1.30)
October 100% (98.94) (99.40) (1.66)
November 100% (98.75) (99.36) (1.89)
December 100% (98.52) (97.64) (3.84)
Total 100% (99.09) (99.24) (1.70)
Notes:
Upon testing the mathematical accuracy of sales through year 2008 to 2011 an
overstatement of P2,966,700.00 on total sales in year 2008 and a P300.00 overstatement on year 2011.

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