ACCT Assignment 1

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acct300_01-16.xls
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Ex. 1-16

Exercise 1-16 # Incorrect N-box and B-box entries COUNTIF(A12:Z200,"~*")
Name: 0
Section: # N-box Incorrects due to blanks COUNTIF(A12:Z200," ")
26
Score: 0% # N-box +B-box corrects COUNTIF(A12:Z200," ")
0
Key Code: 2 Total SUM(AV13:AV15)
Instructions 26
Answers are entered in the cells with gray backgrounds. Percentage =(AD8-AD4-AD2)/AD8
Cells with non-gray backgrounds are protected and cannot be edited. 0%
A red asterisk (*) will appear in the column to the right of an incorrect answer. Notes:
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 "*"
a. If number-entry or blank-entry box is correct, returns single space, " "
OAK TREE INTERIORS 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.
Balance Sheet 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.
October 31, 2012
Assets
Cash Steps:
Accounts receivable Open this sheet and macro sheet
Supplies Open old templated, then change color palet to this sheet's
Total assets Insert new header - change problem number and reformat
Copy these formulas (column AD) to new sheet.
Liabilities Update to new edition numbers
Accounts payable Copy new error check formulas:
IF(sol.!$C$5="OFF","",IF(G19=""," ",IF(AND(G19<>"",G19<>sol.!G19),"*"," ")))
Stockholders' Equity Copy Score formula from this template to new sheet.
Capital stock IF(sol.!C5="OFF","","Score:")
Retained earnings IF(sol.!C5="OFF","",AD10)
Total liabilities and stockholders' equity
OAK TREE INTERIORS
Balance Sheet
November 30, 2012
Assets
Cash
Accounts receivable
Supplies
Total assets
Liabilities
Accounts payable
Stockholders' Equity
Capital stock
Retained earnings
Total liabilities and stockholders' equity
b.
Retained earnings, November 30
Retained earnings, October 31
Net income
c.
Retained earnings, November 30
Retained earnings, October 31
Increase in retained earnings
Dividends
Net income
Work backwards to determine this amount. Hint: total assets = total liabilities and stockholders' equity.
Work backwards to determine this amount. Hint: total assets = total liabilities and stockholders' equity.
Enter a positive amount.
Enter a positive amount.
Hint: Dividends decrease Retained Earnings.

sol.

Exercise 1-16 # Incorrect N-box and B-box entries COUNTIF(A12:Z200,"~*")
Name: SOLUTION 0
Section: # N-box Incorrects due to blanks COUNTIF(A12:Z200," ")
Score: See student sheet for student's score. 0
Scoring: ON # N-box +B-box corrects COUNTIF(A12:Z200," ")
26
Total SUM(AV13:AV15)
Instructions 26
Answers are entered in the cells with gray backgrounds. Percentage =(AD8-AD4-AD2)/AD8
Cells with non-gray backgrounds are protected and cannot be edited. 100%
A red asterisk (*) will appear in the column to the right of an incorrect answer. Notes:
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 "*"
a. If number-entry or blank-entry box is correct, returns single space, " "
OAK TREE INTERIORS 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.
Balance Sheet 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.
October 31, 2012
Assets
Cash $ 110,000 Steps:
Accounts receivable 75,000 Open this sheet and macro sheet
Supplies 15,000 Open old templated, then change color palet to this sheet's
Total assets $ 200,000 Insert new header - change problem number and reformat
Copy these formulas (column AD) to new sheet.
Liabilities Update to new edition numbers
Accounts payable $ 40,000 Copy new error check formulas:
IF(sol.!$C$5="OFF","",IF(G19=""," ",IF(AND(G19<>"",G19<>sol.!G19),"*"," ")))
Stockholders' Equity Copy Score formula from this template to new sheet.
Capital stock $ 60,000 IF(sol.!C5="OFF","","Score:")
Retained earnings 100,000 160,000 IF(sol.!C5="OFF","",AD10)
Total liabilities and stockholders' equity $ 200,000
OAK TREE INTERIORS
Balance Sheet
November 30, 2012
Assets
Cash $ 140,000
Accounts receivable 118,000
Supplies 20,000
Total assets $ 278,000
Liabilities
Accounts payable $ 65,000
Stockholders' Equity
Capital stock $ 60,000
Retained earnings 153,000 213,000
Total liabilities and stockholders' equity $ 278,000
b.
Retained earnings, November 30 $ 153,000
Retained earnings, October 31 100,000
Net income $ 53,000
c.
Retained earnings, November 30 $ 153,000
Retained earnings, October 31 100,000
Increase in retained earnings $ 53,000
Dividends 20,000
Net income $ 73,000
Work backwards to determine this amount. Hint: total assets = total liabilities and stockholders' equity.
Enter a positive amount.
Enter a positive amount.
Hint: Dividends decrease Retained Earnings.
Work backwards to determine this amount. Hint: total assets = total liabilities and stockholders' equity.