ACCT Assignment 3

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acct300_5-04.xlsx
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Pr. 5-4

Problem 5-4 * represents an incorrect N answer =COUNTIF(A14:H27,"~*")
Name: 0
Section: " " represents an unanswered N box - counts as an incorrect. =COUNTIF(A14:H27," ")
45
Score: 0% " " represents a correct blank answer or N answer =COUNTIF(A14:H27," ")
0
Key Code: 2 Total SUM(AV13:AV15)
Instructions 45
Answers are entered in the cells with gray backgrounds. Percentage =AD6/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:
* represents an incorrect N answer
" " represents an unanswered N box - counts as an incorrect.
1. AZTEC INTERIORS " " represents a correct blank answer or N answer
Bank Reconciliation Total number of answers = sum of above
May 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.
Cash balance according to bank statement
Add: Steps:
Bank service charges Open this sheet and macro sheet
Deduct outstanding checks: Check returned because of insufficient funds
Company error in charging check as $328.87 instead of $238.87
Company error in recording deposit as 331.45 instead of 731.45 Open old templated, then change color palet to this sheet's
Deposit of May 31, not recorded by bank Insert new header - change problem number and reformat
Adjusted balance Outstanding checks Copy these formulas (column AD) to new sheet.
Proceeds of note collected by bank, including interest Update to new edition's names and numbers
Cash balance according to company's records‡ Copy new error check formulas. For N-boxes
Add:
cpence: Enter items from largest to smallest		 =IF(sol.!$C$5="OFF","",IF(AC26=""," ",IF(AC26<>sol.!AC26,"*"," ")))
For B-Boxes
Deduct:
cpence: Enter the larger of the two amounts on this line.
Mark Sears: Select in check number order 		=IF(sol.!$C$5="OFF","",IF(AC29<>sol.!AC29,"*"," "))
Adjusted balance
Copy Score formula from this template to new sheet.
=IF(sol.!$C$5="OFF","","Score:") =IF(sol.!$C$5="OFF","",AD10)
‡ Cash balance, April 1
Plus cash deposited in April
Less checks written in April
Balance per company's records, April 30
2. Balance Sheet
Assets = Liabilities + Stockholders' Equity
Statement of Notes/Accts. Accounts Retained Income
Cash Flows Cash + Receivable = Payable + Earnings Statement
Effects of note collection and correcting company error Sales
Int. revenue
Effects of NSF check and bank service charge Misc. exp.
3.
The amount of cash as it should appear on the balance sheet
4. The error should be subtracted from the “balance according to bank statement," and reported to the bank.
The error should be added to the “balance according to bank statement," and reported to the bank.
The error should be subtracted from the “balance according to company's books.

sol.

Problem 5-4 * represents an incorrect N answer =COUNTIF(A14:H27,"~*")
Name: SOLUTION 1
Section: " " represents an unanswered N box - counts as an incorrect. =COUNTIF(A14:H27," ")
Score: See student sheet for student's score 2
Scoring: ON " " represents a correct blank answer or N answer =COUNTIF(A14:H27," ")
33
Total SUM(AV13:AV15)
Instructions 36
Answers are entered in the cells with gray backgrounds. Percentage =AD6/AD8
Cells with non-gray backgrounds are protected and cannot be edited. 92%
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.
1. AZTEC INTERIORS " " represents a correct blank answer or N answer
Bank Reconciliation Total number of answers = sum of above
May 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.
Cash balance according to bank statement $ 10,956.74
Add: Deposit of May 31, not recorded by bank 1,043.26 Steps:
$ 12,000.00 Bank service charges Open this sheet and macro sheet
Deduct outstanding checks: Check returned because of insufficient funds Open old templated, then change color palet to this sheet's
No. 613
Mark Sears: Select in check number order 		$ 137.50 Company error in charging check as $328.87 instead of $238.87
No. 632 62.40 Company error in recording deposit as 331.45 instead of 731.45
No. 634 503.30 703.20 Deposit of May 31, not recorded by bank Insert new header - change problem number and reformat
Adjusted balance $ 11,296.80 Outstanding checks Copy these formulas (column AD) to new sheet.
Proceeds of note collected by bank, including interest Update to new edition's names and numbers
Cash balance according to company's records* $ 7,121.80 Copy new error check formulas. For N-boxes
Add: Proceeds of note collected by bank, including interest $ 4,160.00
cpence: Enter items from largest to smallest		 =IF(sol.!$C$5="OFF","",IF(AC26=""," ",IF(AC26<>sol.!AC26,"*"," ")))
Company error in recording deposit as 331.45 instead of 731.45 400.00
Company error in charging check as $328.87 instead of $238.87 90.00 4,650.00
$ 11,771.80 For B-Boxes
Deduct: Check returned because of insufficient funds $ 450.00
cpence: Enter the larger of the two amounts on this line.
Mark Sears: Select in check number order 		=IF(sol.!$C$5="OFF","",IF(AC29<>sol.!AC29,"*"," "))
Bank service charges 25.00 475.00
Adjusted balance 11,296.80
Copy Score formula from this template to new sheet.
=IF(sol.!$C$5="OFF","","Score:") =IF(sol.!$C$5="OFF","",AD10)
* Cash balance, May 1 $ 9,578.00
Plus cash deposited in May 5,948.81
Less checks written in May (8,405.01)
Balance per company's records, May 31 $ 7,121.80
2. Balance Sheet
Assets = Liabilities + Stockholders' Equity
Statement of Notes/Accts. Accounts Retained Income
Cash Flows Cash + Receivable = Payable + Earnings Statement
Effects of note collection and correcting company error O 4,650.00 4,650.00 (4,000.00) 90.00 560.00 400.00 Sales
160.00 Int. revenue
Effects of NSF check and bank service charge O (475) (475) 450 (25) (25.00) Misc. exp.
3.
The amount of cash as it should appear on the balance sheet $ 11,296.80
4. The error should be subtracted from the “balance according to bank statement," and reported to the bank.
The error should be added to the “balance according to bank statement," and reported to the bank. The error should be added to the “balance according to bank statement," and reported to the bank.
The error should be subtracted from the “balance according to company's books.