ACCT Assignment 5

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acct300_9-01.xlsx

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Pr. 9-1

Problem 9-1

* 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

GREYHOUND TECHNOLOGY COMPANY

Total number of answers = sum of above

Comparative Income Statement

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.

For the Years Ended December 31, 2012 and 2011

2012

2011

Increase (Decrease)

Amount

Percent

Steps:

Open this sheet and macro sheet

Sales

$ 880,000

$ 800,000

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

Sales returns and allowances

18,000

15,000

Net sales

$ 862,000

$ 785,000

Cost of goods sold

650,000

500,000

Insert new header - change problem number and reformat

Gross profit

$ 212,000

$ 285,000

Copy these formulas (column AD) to new sheet.

Selling expenses

$ 44,000

$ 40,000

Update to new edition's names and numbers

Administrative expenses

27,000

25,000

Copy new error check formulas. For N-boxes

Total operating expenses

$ 71,000

$ 65,000

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

Income from operations

$ 141,000

$ 220,000

Other income

2,300

2,000

Income before income tax

$ 143,300

$ 222,000

Income tax expense

13,000

20,000

For B-Boxes

Net income

$ 130,300

$ 202,000

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

Net income decreased because sales increased at a greater percentage rate than did cost of goods sold and operating expenses.

Copy Score formula from this template to new sheet.

Net income increased because sales increased at a greater percentage rate than did cost of goods sold and operating expenses.

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

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

Net income decreased because sales increased at a smaller percentage rate than did cost of goods sold and operating expenses.

sol.

Problem 9-1								* 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," ")
								1
								Total SUM(AV13:AV15)
Instructions								1
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.	GREYHOUND TECHNOLOGY COMPANY							Total number of answers = sum of above
	Comparative Income Statement							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.
	For the Years Ended December 31, 2012 and 2011
			2012	2011	Increase (Decrease)
			Amount	Amount	Amount	Percent		Steps:
								Open this sheet and macro sheet
		Sales	$ 880,000	$ 800,000	$ 80,000	10.0%		Open old templated, then change color palet to this sheet's
		Sales returns and allowances	18,000	15,000	3,000	20.0%
		Net sales	$ 862,000	$ 785,000	$ 77,000	9.8%
		Cost of goods sold	650,000	500,000	150,000	30.0%		Insert new header - change problem number and reformat
		Gross profit	$ 212,000	$ 285,000	$ (73,000)	-25.6%		Copy these formulas (column AD) to new sheet.
		Selling expenses	$ 44,000	$ 40,000	$ 4,000	10.0%		Update to new edition's names and numbers
		Administrative expenses	27,000	25,000	2,000	8.0%		Copy new error check formulas. For N-boxes
		Total operating expenses	$ 71,000	$ 65,000	$ 6,000	9.2%		=IF(sol.!$C$5="OFF","",IF(AC25=""," ",IF(AC25<>sol.!AC25,"*"," ")))
		Income from operations	$ 141,000	$ 220,000	$ (79,000)	-35.9%
		Other income	2,300	2,000	300	15.0%
		Income before income tax	$ 143,300	$ 222,000	$ (78,700)	-35.5%
		Income tax expense	13,000	20,000	(7,000)	-35.0%		For B-Boxes
		Net income	$ 130,300	$ 202,000	$ (71,700)	-35.5%		=IF(sol.!$C$5="OFF","",IF(AC29<>sol.!AC29,"*"," "))
							Net income decreased because sales increased at a greater percentage rate than did cost of goods sold and operating expenses.	Copy Score formula from this template to new sheet.
2.	Net income decreased because sales increased at a smaller percentage rate than did cost of goods sold and operating expenses.						Net income increased because sales increased at a greater percentage rate than did cost of goods sold and operating expenses.	=IF(sol.!$C$5="OFF","","Score:")	=IF(sol.!$C$5="OFF","",AD10)
							Net income decreased because sales increased at a smaller percentage rate than did cost of goods sold and operating expenses.