Accounting/Excel

Excel Homework

Sprgadsheet Assig nment #1

I. For the Excel homework, questions that begin with "Think:" are items for you to think about. Answer the "Think" questions for yourself. Please do not hand the "Think" questions in. Work the homework steps in order. Do not work backwards at any time.

II. Build a projected statement of retained earnings where the first year is actual data and subsequent years are projected as indicated below.

m. Name the first sheet "Preview." A. Beginning at Ai, include the following information on subsequent rows and filIin all data

in adjacent columns. 1. Title is

a. Retained Earnings Statement b. Four Years Projected c. Actual Data Is For 1994

2. Client: 3. Purpose: -+. Programmer: -i. Initialized: 6. Modified:

B. Think: Why should the clients name be in a separate cell? Which cell? C. Thinl<: Should the "InitializedDate" be a constant value or a formula? D. Think: Should the "Date Modified" be a constant value or a formula?

tV. Make sure you are on the Preview sheet. Check the Save Thumbnails for All Excel Documents check box under File > Info > Properties > Advanced Properties > Summary tab.

V. Fill in all relevant blanks at File > Info > Properties > Advanced Properties > Summary tab. VI. Name the second sheet "Retained_Earnings" and build the retained earnings statement here.

Think: Why shouldn't you skip any rows or columns in the body of the statement? A. Title (use three rows):

1. (Your Last Name) Corporation 2. Projected Statement Of Retained Eamings 3. Actual 1994 Through Projected 1998

B. Statement data row labels: , ' ' . 1. Retained Earnings Beginning 2. Net lncome 3. Dividends '' 4. Retained Earnings End Data columns are years 1994 through 1998. Initial data: 1. Actual Retained Earnings Beginning is 1000. 2. Actual Net Income is 100. 3. Assume a growth rate for net income equal to l}oh per year compounded annually. 4. Assume a dividend policy that sets dividends equal to some fixed percentage of net

income. Start by setting this percentage equal to 20o/o.

C. D.

HOMEWORK67

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