ACCT Assignment 4

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acct300_08-06.xlsx

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Pr. 8-6

Problem 8-6

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

Name:

Section:

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

Score:

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

Key Code:

Total SUM(AV13:AV15)

Instructions

Answers are entered in the cells with gray backgrounds.

Percentage =AD6/AD8

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

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

Notes:

" " represents an unanswered N box - counts as an incorrect.

" " represents a correct blank answer or N answer

Plan 1

Plan 2

Plan 3

Total number of answers = sum of above

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.

Earnings before interest and income tax

Deduct interest on bonds

Income before income tax

Steps:

Deduct income tax

Open this sheet and macro sheet

Net income

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

Dividends on preferred stock

Insert new header - change problem number and reformat

Available for dividends on common stock

Copy these formulas (column AD) to new sheet.

Divide by shares of common stock outstanding

Update to new edition's names and numbers

Earnings per share on common stock

Copy new error check formulas. For N-boxes

=IF(sol.!$C$5="OFF","",IF(AC25=""," ",IF(AC25<>sol.!AC25,"*"," ")))

Plan 1

Plan 2

Plan 3

For B-Boxes

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

Earnings before interest and income tax

Deduct interest on bonds

Copy Score formula from this template to new sheet.

Income before income tax

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

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

Deduct income tax

Net income

Dividends on preferred stock

Available for dividends on common stock

Divide by shares of common stock outstanding

Earnings per share on common stock

Plan 1:

Plan 1 does not require a periodic interest payment or a payment of preferred dividends, and it has the largest EPS if business conditions are poor. However, its EPS is the lowest if conditions are favorable.

Plan 1 does not require a large investment by stockholders, and it has the largest EPS if business conditions are favorable. However, its EPS is the lowest if conditions are unfavorable.

Plan 1 does not require a periodic interest payment, and does not require such a large investment by common stockholders. The EPS do not vary as much as the other plans as business conditions change.

Plan 2:

Plan 2 does not require a periodic interest payment or a payment of preferred dividends, and it has the largest EPS if business conditions are poor. However, its EPS is the lowest if conditions are favorable.

Plan 2 does not require a large investment by stockholders, and it has the largest EPS if business conditions are favorable. However, its EPS is the lowest if conditions are unfavorable.

Plan 3:

Plan 2 does not require a periodic interest payment, and does not require such a large investment by common stockholders. The EPS do not vary as much as the other plans as business conditions change.

Plan 3 does not require a periodic interest payment or a payment of preferred dividends, and it has the largest EPS if business conditions are poor. However, its EPS is the lowest if conditions are favorable.

Plan 3 does not require a large investment by stockholders, and it has the largest EPS if business conditions are favorable. However, its EPS is the lowest if conditions are unfavorable.

Plan 3 does not require a periodic interest payment, and does not require such a large investment by common stockholders. The EPS do not vary as much as the other plans as business conditions change.

sol.

Problem 8-6							* 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," ")
							3
							Total SUM(AV13:AV15)
Instructions							3
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 unanswered N box - counts as an incorrect.
							" " represents a correct blank answer or N answer
1.			Plan 1	Plan 2	Plan 3		Total number of answers = sum of above
							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.
		Earnings before interest and income tax	$ 1,000,000	$ 1,000,000	$ 1,000,000
		Deduct interest on bonds	-	-	200,000
		Income before income tax	$ 1,000,000	$ 1,000,000	$ 800,000		Steps:
		Deduct income tax	400,000	400,000	320,000		Open this sheet and macro sheet
		Net income	$ 600,000	$ 600,000	$ 480,000		Open old templated, then change color palet to this sheet's
		Dividends on preferred stock	-	100,000	50,000		Insert new header - change problem number and reformat
		Available for dividends on common stock	$ 600,000	$ 500,000	$ 430,000		Copy these formulas (column AD) to new sheet.
		Divide by shares of common stock outstanding	1,000,000	500,000	250,000		Update to new edition's names and numbers
		Earnings per share on common stock	$ 0.60	$ 1.00	$ 1.72		Copy new error check formulas. For N-boxes
							=IF(sol.!$C$5="OFF","",IF(AC25=""," ",IF(AC25<>sol.!AC25,"*"," ")))
2.			Plan 1	Plan 2	Plan 3		For B-Boxes
							=IF(sol.!$C$5="OFF","",IF(AC29<>sol.!AC29,"*"," "))
		Earnings before interest and income tax	$ 300,000	$ 300,000	$ 300,000
		Deduct interest on bonds	-	-	200,000		Copy Score formula from this template to new sheet.
		Income before income tax	$ 300,000	$ 300,000	$ 100,000		=IF(sol.!$C$5="OFF","","Score:")	=IF(sol.!$C$5="OFF","",AD10)
		Deduct income tax	120,000	120,000	40,000
		Net income	$ 180,000	$ 180,000	$ 60,000
		Dividends on preferred stock	-	100,000	50,000
		Available for dividends on common stock	$ 180,000	$ 80,000	$ 10,000
		Divide by shares of common stock outstanding	1,000,000	500,000	250,000
		Earnings per share on common stock	$ 0.18	$ 0.16	$ 0.04
3.	Plan 1:
	Plan 1 does not require a periodic interest payment or a payment of preferred dividends, and it has the largest EPS if business conditions are poor. However, its EPS is the lowest if conditions are favorable.					Plan 1 does not require a periodic interest payment or a payment of preferred dividends, and it has the largest EPS if business conditions are poor. However, its EPS is the lowest if conditions are favorable.
						Plan 1 does not require a large investment by stockholders, and it has the largest EPS if business conditions are favorable. However, its EPS is the lowest if conditions are unfavorable.
						Plan 1 does not require a periodic interest payment, and does not require such a large investment by common stockholders. The EPS do not vary as much as the other plans as business conditions change.
	Plan 2:
	Plan 2 does not require a periodic interest payment, and does not require such a large investment by common stockholders. The EPS do not vary as much as the other plans as business conditions change.
						Plan 2 does not require a periodic interest payment or a payment of preferred dividends, and it has the largest EPS if business conditions are poor. However, its EPS is the lowest if conditions are favorable.
						Plan 2 does not require a large investment by stockholders, and it has the largest EPS if business conditions are favorable. However, its EPS is the lowest if conditions are unfavorable.
	Plan 3:					Plan 2 does not require a periodic interest payment, and does not require such a large investment by common stockholders. The EPS do not vary as much as the other plans as business conditions change.
	Plan 3 does not require a large investment by stockholders, and it has the largest EPS if business conditions are favorable. However, its EPS is the lowest if conditions are unfavorable.
						Plan 3 does not require a periodic interest payment or a payment of preferred dividends, and it has the largest EPS if business conditions are poor. However, its EPS is the lowest if conditions are favorable.
						Plan 3 does not require a large investment by stockholders, and it has the largest EPS if business conditions are favorable. However, its EPS is the lowest if conditions are unfavorable.
						Plan 3 does not require a periodic interest payment, and does not require such a large investment by common stockholders. The EPS do not vary as much as the other plans as business conditions change.