HOMEWORK Principles of Accounting I

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PR1-2A-2.xls
Home>Mathematics homework help>HOMEWORK Principles of Accounting I

Pr. 1-2A

Problem 1-2A # Incorrect N-box and B-box entries COUNTIF(B7:AT41,"~*")
Name: 0
Section: # N-box Incorrects due to blanks COUNTIF(B7:AT41," ")
39
Score: 0% # N-box +B-box corrects COUNTIF(B7:AT41," ")
0
Key Code: [Key Code Here] Total SUM(AV13:AV15)
Instructions 39
Answers are entered in the cells with gray backgrounds. Percentage =(AV16-AV13-AV14)/AV16
Cells with non-gray backgrounds are protected and cannot be edited. 0%
Enter the appropriate amounts/formulas in the answer cells, or select from the drop-down list. Notes:
An asterisk (*) will appear to the right of an incorrect entry. If number-entry box is blank (this would be an incorrect answer for N-boxes), error check returns two spaces, " "
If number-entry or blank-entry box is incorrect, returns "*"
If number-entry or blank-entry box is correct, returns single space, " "
1. NEW WORLD TRAVEL AGENCY For the Year Ended December 31, 2012 Use data verification to set data entry to whole number >= 0, and use drop-downs for lables and names, so that students can't enter a space in a box and have it counted as correct.
Income Statement December 31, 2012 Conditional formatting might be used but wasn't here, to hide some of the error check return symbols. If A1 = "~*", then font = red, if something else, then font = background color.
Utilities expense
Supplies expense
Expenses: Fees earned
Wages expense
Rent expense
Taxes expense
Miscellaneous expense
Total expenses
Net income
Decrease in owner's equity
Increase in owner's equity
2. NEW WORLD TRAVEL AGENCY Less withdrawals
Statement of Owner's Equity Plus withdrawals
Net income for the year
Kris Taber, capital, January 1, 2012
Kris Taber, capital, December 31, 2012
3. NEW WORLD TRAVEL AGENCY Accounts receivable
Balance Sheet Accounts payable
Cash
Kris Tabor, capital
Assets Liabilities Supplies
Owner's Equity
Total assets Total liabilities and owner's equity
4.
Enter expenses as positive numbers. List them in descending order by amount, largest to smallest, except miscellaneous expense.
List the assets in order of size, largest to smallest.
This amount can be found in part 2.

Sol

Problem 1-2A
Name: Solution
Section:
ON
Key Code: [Key Code Here]
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
Enter the appropriate amounts/formulas in the answer cells, or select from the drop-down list.
An asterisk (*) will appear to the right of an incorrect entry.
1. NEW WORLD TRAVEL AGENCY For the Year Ended December 31, 2012
Income Statement December 31, 2012
For the Year Ended December 31, 2012 0
Utilities expense
Fees earned $ 200,000 Supplies expense
Expenses: Fees earned
Wages expense $ 90,000 Wages expense
Rent expense 45,000 Rent expense
Utilities expense 18,000 Taxes expense
Supplies expense 3,000 Miscellaneous expense
Miscellaneous expense 4,000
Total expenses 160,000
Net income $ 40,000
Decrease in owner's equity
Increase in owner's equity
2. NEW WORLD TRAVEL AGENCY Less withdrawals
Statement of Owner's Equity Plus withdrawals
For the Year Ended December 31, 2012 0 Net income for the year
Kris Taber, capital, January 1, 2012 $ 120,000
Net income for the year $ 40,000
Less withdrawals 10,000
Increase in owner's equity 30,000
Kris Taber, capital, December 31, 2012 $ 150,000
3. NEW WORLD TRAVEL AGENCY Accounts receivable
Balance Sheet Accounts payable
December 31, 2012 Cash
Kris Tabor, capital
Assets Liabilities Supplies
Cash $ 110,000 Accounts payable $ 25,000
Accounts receivable 60,000
Supplies 5,000 Owner's Equity
Kris Tabor, capital 150,000
Total assets $ 175,000 Total liabilities and owner's equity $ 175,000
4.
Kris Tabor, capital 150,000
Enter the period of time covered by this statement.
List the assets in order of size, largest to smallest.
Enter expenses as positive numbers. List them in descending order by amount, largest to smallest, except miscellaneous expense.
Enter the statement date.
Enter the period of time covered by this statement.
This amount can be found in part 2.