Problem 4-1A due in 18 hours

WRD27e_PR04-1A-1.xlsx

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Pr. 4-1A

Problem 4-1A	# Incorrect N-box and B-box entries COUNTIF(B15:G24,"~*")
Name:	0
Section:	# N-box Incorrects due to blanks COUNTIF(B15:AT24," ")
120
Score:	0%	# N-box +B-box corrects COUNTIF(B15:AT24," ")
0	If number-entry or blank-entry box is correct, returns single space, " "
Key Code:	2	Total SUM(AD13:AD15)	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.
Instructions	120	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.
Answers are entered in the cells with gray backgrounds.	Percentage =(AD16-AD13-AD14)/AD16
Cells with non-gray backgrounds are protected and cannot be edited.	0%
An asterisk (*) will appear to the right of an incorrect entry.	Notes:
For correct grading in the trial balance, enter a zero in cells you would otherwise leave blank.	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 "*"
1.	BEACON SIGNALS COMPANY	Advertising expense
Income Statement	Depreciation expense - building
For the Year Ended December 31, 2019	Depreciation expense - equipment
Fees revenue
Revenues:	Insurance expense
Mark: List the largest revenue first.			Miscellaneous expense
		Rent expense
Total revenues		Rent revenue
Expenses:	Repairs expense
Highland Community College: List expenses according to balance, largest to smallest, with one exception: list Miscellaneous Exp. last.		Highland Community College: Enter all expenses as positive amounts.			Salaries and wages expense
			Supplies expense
			Utilities expense






Total expenses
Net income
2.	BEACON SIGNALS COMPANY
Statement of Owner's Equity
For the Year Ended December 31, 2019
Sarah Colin, capital, January 1, 2019
cpence: Enter the item that increases owner's equity on this line.				Additions
	Mark Sears: Enter items the decrease owner's equity as negative values.			Withdrawals
		Net income for the year
Sarah Colin, capital, December 31, 2019		Net loss for the year
Increase in owner's capital
Decrease in owner's capital
3.	BEACON SIGNALS COMPANY
Balance Sheet
December 31, 2019
Assets
Current assets:	Accounts payable
		Accounts receivable
		Accumulated depreciation
		Building
		Cash
Total current assets		Equipment
Property, plant, and equipment:	Land
		Prepaid insurance
		Salaries and wages payable
			Sarah Colin, capital
		Sarah Colin, drawing
			Supplies
Total property, plant, and equipment		Unearned rent
Total assets
Liabilities
Current liabilities:



Total liabilities
Owner's Equity
	Peggy Hussey: See the statement of owner's equity for this amount.
Total liabilities and owner's equity
4.	JOURNAL
Date	Description	Debit	Credit
2019	Closing Entries
Dec.	31	Mark Sears: List the largest revenue first.

Mark Sears: List the credited expense accounts numerically, largest balance to smallest, with one exception: Misc. Exp. is listed last.

		Accounts Receivable
		Accounts Payable
		Advertising Expense
		Depreciation Expense - Building
		Depreciation Expense - Equipment
		Fees Revenue
Miscellaneous Expense		Income Summary
Sarah Colin, Capital		Insurance Expense
Sarah Colin, Capital
31			Sarah Colin, Drawing
		Prepaid Insurance
Rent Revenue
Repairs Expense
5.	BEACON SIGNALS COMPANY	Salaries and Wages Expense
Post-Closing Trial Balance	Supplies Expense
December 31, 2019	Utilities Expense
Debit Balances	Credit Balances
Cash
Accounts Receivable
Prepaid Insurance
Supplies
Land
Building
Accumulated Depreciation - Building
Equipment
Accumulated Depreciation - Equipment
Accounts Payable
Salaries & Wages Payable
Unearned Rent
Sarah Colin, Capital

Sol

Problem 4-1A
Name:	Solution
Section:
Scoring:	ON
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry.
For correct grading in the trial balance, enter a zero in cells you would otherwise leave blank.
1.	BEACON SIGNALS COMPANY	Advertising expense
Income Statement	Depreciation expense - building
For the Year Ended December 31, 2019	Depreciation expense - equipment
Fees revenue
Revenues:	Insurance expense
Fees revenue Mark Sears: List the largest revenue first.	$ 401,200	Miscellaneous expense
Rent revenue	1,300	Rent expense
Total revenues	$ 402,500	Rent revenue
Expenses:	Repairs expense
Salaries and wages expense Highland Community College: List expenses according to balance, largest to smallest, with one exception: list Miscellaneous Exp. last.	$ 168,000 Highland Community College: Enter all expenses as positive amounts.	Salaries and wages expense
Advertising expense	21,700	Supplies expense
Utilities expense	11,400	Utilities expense
Depreciation expense - building	9,000
Repairs expense	8,850
Depreciation expense - equipment	4,500
Insurance expense	3,000
Supplies expense	2,250
Miscellaneous expense	4,350
Total expenses	233,050
Net income	$ 169,450
2.	BEACON SIGNALS COMPANY
Statement of Owner's Equity
For the Year Ended December 31, 2019
Sarah Colin, capital, January 1, 2019	$ 238,100
Net income for the year cpence: Enter the item that increases owner's equity on this line.	$ 169,450	Additions
Withdrawals	(10,000)	Withdrawals
Increase in owner's capital	159,450	Net income for the year
Sarah Colin, capital, December 31, 2019	$ 397,550	Net loss for the year
Increase in owner's capital
Decrease in owner's capital
3.	BEACON SIGNALS COMPANY
Balance Sheet
December 31, 2019
Assets
Current assets:	Accounts payable
Cash	$ 13,000	Accounts receivable
Accounts receivable	53,000	Accumulated depreciation
Prepaid insurance	1,200	Building
Supplies	750	Cash
Total current assets	$ 67,950	Equipment
Property, plant, and equipment:	Land
Land	$ 98,000	Prepaid insurance
Building	$ 500,000	Salaries and wages payable
Accumulated depreciation	264,300	235,700	Sarah Colin, capital
Equipment	$ 121,900	Sarah Colin, drawing
Accumulated depreciation	104,600	17,300	Supplies
Total property, plant, and equipment	351,000	Unearned rent
Total assets	$ 418,950
Liabilities
Current liabilities:
Accounts payable	$ 15,700
Salaries and wages payable	4,900
Unearned rent	800
Total liabilities	$ 21,400
Owner's Equity
Sarah Colin, capital	397,550 Peggy Hussey: See the statement of owner's equity for this amount.
Total liabilities and owner's equity	$ 418,950
4.	JOURNAL
Date	Description	Debit	Credit
2019	Closing Entries
Dec.	31	Fees Revenue	401,200
Rent Revenue	1,300
Salaries and Wages Expense	168,000
Advertising Expense	21,700
Utilities Expense	11,400	Accounts Receivable
Depreciation Expense - Building	9,000	Accounts Payable
Repairs Expense	8,850	Advertising Expense
Depreciation Expense - Equipment	4,500	Depreciation Expense - Building	Shane Banovich, Capital
Insurance Expense	3,000	Depreciation Expense - Equipment	Shane Banovich, Drawing
Supplies Expense	2,250	Fees Revenue	Depreciation Expense
Miscellaneous Expense	4,350	Income Summary	Fees Earned
Sarah Colin, Capital	169,450	Insurance Expense	Income Summary
Sarah Colin, Capital	Insurance Expense
31	Sarah Colin, Capital	10,000	Sarah Colin, Drawing	Miscellaneous Expense
Sarah Colin, Drawing	10,000	Prepaid Insurance	Office Equipment
Rent Revenue	Prepaid Rent
Repairs Expense	Prepaid Insurance
5.	BEACON SIGNALS COMPANY	Salaries and Wages Expense	Salary Expense
Post-Closing Trial Balance	Supplies Expense
December 31, 2019	Utilities Expense
Debit Balances	Credit Balances
Cash	13,000	-
Accounts Receivable	53,000	-
Prepaid Insurance	1,200	-
Supplies	750	-
Land	98,000	-
Building	500,000	-
Accumulated Depreciation - Building	-	264,300
Equipment	121,900	-
Accumulated Depreciation - Equipment	-	104,600
Accounts Payable	-	15,700
Salaries & Wages Payable	-	4,900
Unearned Rent	-	800
Sarah Colin, Capital	-	397,550
787,850	787,850