ACCT Assignment 2

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acct300_3-01.xls

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Pr. 3-1

Problem 3-1

* represents an incorrect N answer =COUNTIF(A14:H27,"~*")

Name:

Section:

" " represents an unanswered N box - counts as an incorrect. =COUNTIF(A14:H27," ")

157

Score:

44%

" " represents a correct blank answer or N answer =COUNTIF(A14:H27," ")

*Since some answer boxes are correct when left blank, the beginning score is greater than 0%.

122

Key Code:

Total SUM(AV13:AV15)

Instructions

279

Answers are entered in the cells with gray backgrounds.

Percentage =AD6/AD8

Cells with non-gray backgrounds are protected and cannot be edited.

44%

A red asterisk (*) will appear in the column to the right of an incorrect answer.

Statement of Cash Flows

Balance Sheet

Income Statement

Assets

Liabilities

Stockholders' Equity

Notes:

Accounts

Accum.

Accounts

Unearned

Wages

Notes

Capital

Retained

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.

Cash

Receivable

Prepaid Ins.

Supplies

Building

Depr.

Land

Payable

Revenue

Payable

Stock

Earnings

Balances, Jan. 1

20,000

34,500

700

1,000

150,000

11,200

120,000

7,500

- 0

30,000

50,000

227,500

Jan. 1 Rec'd rent rev.

Steps:

Balances

Open this sheet and macro sheet

Jan. 1 Paid ins.

Open old templated, then change color palet to this sheet's

Balances

Insert new header - change problem number and reformat

Jan. 6 Purch. supplies

Copy these formulas (column AD) to new sheet.

Balances

Update to new edition's names and numbers

Jan. 9 Collected AR

Copy new error check formulas. For N-boxes

Balances

=IF(sol.!$C$5="OFF","",IF(AC26=sol.!AC26," ",IF(AC26=""," ","*")))

Jan. 11 Paid creditors

Balances

For B-Boxes

Jan. 18 Issued stock

=IF(sol.!$C$5="OFF","",IF(AC29<>sol.!AC29,"*"," "))

Balances

Jan. 20 Billed patients

1/20

Fees earned

Copy Score formula from this template to new sheet.

Balances

=IF(sol.!$C$5="OFF","","Score:")

=IF(sol.!$C$5="OFF","",AD10)

Jan. 25 Cash fees

1/25

Fees earned

Balances

Jan. 30 Paid expenses

1/30

Wages exp.

Balances

Utilities exp.

Jan. 30 Paid dividends

Rent exp.

Balances

Interest exp.

Net incr. (decr.) in cash

Misc. exp.

Income before adjustments

Note: Transfer the final double ruled amounts from Problem 3-1 to be the beginning amounts for Problem 3-2, if assigned.

Split the 1/30 payment of expenses into its 5 parts.

sol.

Problem 3-1																																* represents an incorrect N answer =COUNTIF(A14:H27,"~*")
Name:	SOLUTION																															0
Section:																																" " represents an unanswered N box - counts as an incorrect. =COUNTIF(A14:H27," ")
Score:	See student sheet for student's score.																															0
Scoring:	ON																															" " represents a correct blank answer or N answer =COUNTIF(A14:H27," ")
																																93
																																Total SUM(AV13:AV15)
Instructions																																93
Answers are entered in the cells with gray backgrounds.																																Percentage =AD6/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:
																																* represents an incorrect N answer
																																" " represents an unanswered N box - counts as an incorrect.
		Statement of Cash Flows		Balance Sheet																									Income Statement			" " represents a correct blank answer or N answer
				Assets													=	Liabilities							+	Stockholders' Equity						Total number of answers = sum of above
						Accounts								Accum.				Accounts		Unearned		Wages		Notes		Capital		Retained				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.
				Cash	+	Receivable	+	Prepaid Ins.	+	Supplies	+	Building	-	Depr.	+	Land	=	Payable	+	Revenue	+	Payable	+	Payable	+	Stock	+	Earnings
	Balances, Jan. 1			20,000		34,500		700		1,000		150,000		11,200		120,000		7,500		- 0		- 0		30,000		50,000		227,500
	Jan. 1 Rec'd rent rev.	O	15,000	15,000		- 0		- 0		- 0		- 0		- 0		- 0		- 0		15,000		- 0		- 0		- 0		- 0
	Balances			35,000		34,500		700		1,000		150,000		11,200		120,000		7,500		15,000		- 0		30,000		50,000		227,500
	Jan. 1 Paid ins.	O	(4,200)	(4,200)		- 0		4,200		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0				Steps:
	Balances			30,800		34,500		4,900		1,000		150,000		11,200		120,000		7,500		15,000		- 0		30,000		50,000		227,500				Open this sheet and macro sheet
	Jan. 6 Purch. supplies	NA	- 0	- 0		- 0		- 0		1,800		- 0		- 0		- 0		1,800		- 0		- 0		- 0		- 0		- 0				Open old templated, then change color palet to this sheet's
	Balances			30,800		34,500		4,900		2,800		150,000		11,200		120,000		9,300		15,000		- 0		30,000		50,000		227,500				Insert new header - change problem number and reformat
	Jan. 9 Collected AR	O	27,500	27,500		(27,500)		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0				Copy these formulas (column AD) to new sheet.
	Balances			58,300		7,000		4,900		2,800		150,000		11,200		120,000		9,300		15,000		- 0		30,000		50,000		227,500				Update to new edition's names and numbers
	Jan. 11 Paid creditors	O	(3,000)	(3,000)		- 0		- 0		- 0		- 0		- 0		- 0		(3,000)		- 0		- 0		- 0		- 0		- 0				Copy new error check formulas. For N-boxes
	Balances			55,300		7,000		4,900		2,800		150,000		11,200		120,000		6,300		15,000		- 0		30,000		50,000		227,500				=IF(sol.!$C$5="OFF","",IF(AC26=sol.!AC26," ",IF(AC26=""," ","*")))
	Jan. 18 Issued stock	F	25,000	25,000		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		25,000		- 0
	Balances			80,300		7,000		4,900		2,800		150,000		11,200		120,000		6,300		15,000		- 0		30,000		75,000		227,500				For B-Boxes
	Jan. 20 Billed patients	NA	- 0	- 0		62,000		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		62,000	1/20	62,000	Fees earned	=IF(sol.!$C$5="OFF","",IF(AC29<>sol.!AC29,"*"," "))
	Balances			80,300		69,000		4,900		2,800		150,000		11,200		120,000		6,300		15,000		- 0		30,000		75,000		289,500
	Jan. 25 Cash fees	O	12,900	12,900		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		12,900	1/25	12,900	Fees earned
	Balances			93,200		69,000		4,900		2,800		150,000		11,200		120,000		6,300		15,000		- 0		30,000		75,000		302,400
	Jan. 30 Paid expenses	O	(37,700)	(37,700)		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		(37,700)	1/30	(24,000)	Wages exp.
	Balances			55,500		69,000		4,900		2,800		150,000		11,200		120,000		6,300		15,000		- 0		30,000		75,000		264,700		(6,000)	Utilities exp.
	Jan. 30 Paid dividends	F	(15,000)	(15,000)		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		- 0		(15,000)		(5,000)	Rent exp.	Copy Score formula from this template to new sheet.
	Balances			40,500		69,000		4,900		2,800		150,000		11,200		120,000		6,300		15,000		- 0		30,000		75,000		249,700		(200)	Interest exp.
	Net incr. (decr.) in cash		20,500																											(2,500)	Misc. exp.
																													Income before adjustments	37,200
	Note: Transfer the final double ruled amounts from Problem 3-1 to be the beginning amounts for Problem 3-2, if assigned.

Split the 1/30 payment of expenses into its 5 parts.