URGENT due in 12 HOURS! ACCT HELP

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P7-01.xlsx

Pr. 7-1

Problem 7-1 * represents an incorrect N answer =COUNTIF(A14:H27,"~*")
Name: Akia Carter 0
Section: P7-01 " " represents an unanswered N box - counts as an incorrect. =COUNTIF(A14:H27," ")
1
Score: 99% " " 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%. 79
Key Code: Total SUM(AV13:AV15)
Instructions 80
Answers are entered in the cells with gray backgrounds. Percentage =AD6/AD8
Cells with non-gray backgrounds are protected and cannot be edited. 99%
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. Land Other " " represents a correct blank answer or N answer
Item Land Improvements Building Accounts Total number of answers = sum of above
a. $ - 0 $ - 0 $ 75,000 $ - 0 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.
b. $ 18,000 - 0 - 0 - 0
c. 12,500 $ - - 0 - 0
d. - 0 14,500 - 0 - 0 Steps:
e. 400,000 - 0 $ - 0 - 0 Open this sheet and macro sheet
f. - 0 - 0 - 0 Open old templated, then change color palet to this sheet's
g. - 0 - 0 - 0 1,800 Insert new header - change problem number and reformat
h. - 0 12,000 - 0 - 0 Copy these formulas (column AD) to new sheet.
i. 31,750 - 0 - 0 - 0 Update to new edition's names and numbers
j. 1,500 - 0 - 0 $ - 0 Copy new error check formulas. For N-boxes
k. 4,000 - 0 - 0 - 0 =IF(sol.!$C$5="OFF","",IF(AC26=""," ",IF(AC26<>sol.!AC26,"*"," ")))
l. - 0 - 0 40,000 - 0
m. - 0 - 0 - 0 (775,000)
cpence: Enter a cash receipt as a negative value.		 For B-Boxes
n. - 0 $ - 0 800,000 - 0 =IF(sol.!$C$5="OFF","",IF(AC29<>sol.!AC29,"*"," "))
o. - 0 - 0 - 0 (4,500)
p. - 0 - 0 6,000 - 0 Copy Score formula from this template to new sheet.
q. (6,500)
cpence: Enter a cash receipt as a negative value.
cpence: Enter a cash receipt as a negative value.		 - 0 - 0 - 0 =IF(sol.!$C$5="OFF","","Score:") =IF(sol.!$C$5="OFF","",AD10)
r. - 0 - 0 (1,000)
cpence: Enter a cash receipt as a negative value.		 - 0
s. 9,000 - 0 - 0 - 0
2. Total $ 470,250 $ 26,500 $ 920,000
3.
Land does not lose its ability to provide services and is not depreciated. Land improvements do, so they are depreciated. Land does not lose its ability to provide services and is not depreciated. Land improvements do, so they are depreciated.
Land improvements do not lose their ability to provide services and are not depreciated. Land does, so it is depreciated.
Land does not lose its ability to provide services so it is depreciated. Land improvements do, and so are not depreciated.

sol.

Problem 7-1 * 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," ")
0
Total SUM(AV13:AV15)
Instructions 0
Answers are entered in the cells with gray backgrounds. Percentage =AD6/AD8
Cells with non-gray backgrounds are protected and cannot be edited. ERROR:#DIV/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. Land Other " " represents a correct blank answer or N answer
Item Land Improvements Building Accounts Total number of answers = sum of above
a. ERROR:#REF! ERROR:#REF! $ 75,000 ERROR:#REF! ERROR:#REF! ERROR:#REF! 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.
b. $ 18,000 ERROR:#REF!
c. 12,500 ERROR:#REF!
d. $ 14,500 Steps:
e. 400,000 ERROR:#REF! Open this sheet and macro sheet
f. $ 7,500 ERROR:#REF! Open old templated, then change color palet to this sheet's
g. 1,800 ERROR:#REF! Insert new header - change problem number and reformat
h. 12,000 ERROR:#REF! Copy these formulas (column AD) to new sheet.
i. 31,750 ERROR:#REF! Update to new edition's names and numbers
j. 1,500
cpence: Enter a cash receipt as a negative value.		 ERROR:#REF! Copy new error check formulas. For N-boxes
k. 4,000 ERROR:#REF! =IF(sol.!$C$5="OFF","",IF(AC26=""," ",IF(AC26<>sol.!AC26,"*"," ")))
l. 40,000 ERROR:#REF!
m. (775,000)
cpence: Enter a cash receipt as a negative value.		 ERROR:#REF! For B-Boxes
n. 800,000 ERROR:#REF! =IF(sol.!$C$5="OFF","",IF(AC29<>sol.!AC29,"*"," "))
o. (4,500) ERROR:#REF!
p. 6,000 ERROR:#REF! Copy Score formula from this template to new sheet.
q. (6,500)
cpence: Enter a cash receipt as a negative value.
cpence: Enter a cash receipt as a negative value.		 ERROR:#REF! =IF(sol.!$C$5="OFF","","Score:") =IF(sol.!$C$5="OFF","",AD10)
r. (1,000)
cpence: Enter a cash receipt as a negative value.		 ERROR:#REF!
s. 9,000 ERROR:#REF!
2. Total $ 470,250 $ 26,500 $ 920,000 ERROR:#REF!
3.
Land does not lose its ability to provide services and is not depreciated. Land improvements do, so they are depreciated. Land does not lose its ability to provide services and is not depreciated. Land improvements do, so they are depreciated.
Land improvements do not lose their ability to provide services and are not depreciated. Land does, so it is depreciated.
Land does not lose its ability to provide services so it is depreciated. Land improvements do, and so are not depreciated.

P7-04.xls

Pr. 7-4

Problem 7-4 * represents an incorrect N answer =COUNTIF(A14:H27,"~*")
Name: Akia Carter 0
Section: P7-04 " " represents an unanswered N box - counts as an incorrect. =COUNTIF(A14:H27," ")
37
Score: 3% " " represents a correct blank answer or N answer =COUNTIF(A14:H27," ")
1
Key Code: 2 Total SUM(AV13:AV15)
Instructions 38
Answers are entered in the cells with gray backgrounds. Percentage =AD6/AD8
Cells with non-gray backgrounds are protected and cannot be edited. 3%
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. " " represents a correct blank answer or N answer
Accumulated Total number of answers = sum of above
Depreciation Depreciation, Book Value, 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.
Year Expense End of Year End of Year
a. 1 Steps:
2 Open this sheet and macro sheet
3 Open old templated, then change color palet to this sheet's
4 Insert new header - change problem number and reformat
Copy these formulas (column AD) to new sheet.
b. 1 $ 70,000 Update to new edition's names and numbers
2 Copy new error check formulas. For N-boxes
3 =IF(sol.!$C$5="OFF","",IF(AC26=""," ",IF(AC26<>sol.!AC26,"*"," ")))
4
For B-Boxes
=IF(sol.!$C$5="OFF","",IF(AC29<>sol.!AC29,"*"," "))
Balance Sheet
Assets = Liabilities + Stockholders' Equity Copy Score formula from this template to new sheet.
Statement of Accumulated Retained Income =IF(sol.!$C$5="OFF","","Score:") =IF(sol.!$C$5="OFF","",AD10)
Cash Flows Cash + Equipment - Depreciation = + Earnings Statement
2.
3.
Enter as a formula of =(Cost - Residual value)/life in years
Cost - Accumulated depreciation
Book value x (straight-line rate x 2)
Cost - accumulated depreciation
Remember, accumulated depreciation cannot exceed cost - residual value.
Record increases by entering a positive amount; record decreases by entering a negative amount.
Enter as a positive

sol.

Problem 7-4 * 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 1
Scoring: ON " " represents a correct blank answer or N answer =COUNTIF(A14:H27," ")
4
Total SUM(AV13:AV15)
Instructions 5
Answers are entered in the cells with gray backgrounds. Percentage =AD6/AD8
Cells with non-gray backgrounds are protected and cannot be edited. 80%
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. " " represents a correct blank answer or N answer
Accumulated Total number of answers = sum of above
Depreciation Depreciation, Book Value, 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.
Year Expense End of Year End of Year
a. 1 $ 32,500 $ 32,500 $ 107,500 Steps:
2 32,500 65,000 75,000 Open this sheet and macro sheet
3 32,500 97,500 42,500 Open old templated, then change color palet to this sheet's
4 32,500 130,000 10,000 Insert new header - change problem number and reformat
Copy these formulas (column AD) to new sheet.
b. 1 $ 70,000 $ 70,000 $ 70,000 Update to new edition's names and numbers
2 35,000 105,000 35,000 Copy new error check formulas. For N-boxes
3 17,500 122,500 17,500
4 7,500 130,000 10,000
For B-Boxes
=IF(sol.!$C$5="OFF","",IF(AC29<>sol.!AC29,"*"," "))
Balance Sheet
Assets = Liabilities + Stockholders' Equity Copy Score formula from this template to new sheet.
Statement of Accumulated Retained Income =IF(sol.!$C$5="OFF","","Score:") =IF(sol.!$C$5="OFF","",AD10)
Cash Flows Cash + Equipment - Depreciation = + Earnings Statement
2. O $ 23,300 $ 23,300 $ (140,000) $ 122,500 $ 5,800 $ 5,800 Gain
3. O 15,250 15,250 (140,000) 122,500 (2,250) (2,250) Loss
Cost - residual value Useful life
Book value x (straight-line rate x 2)
Remember, accumulated depreciation cannot exceed cost - residual value.
Cost - accumulated depreciation
Cost - accumulated depreciation
Record increases by entering a positive amount; record decreases by entering a negative amount.

P7-05.xls

Pr. 7-5

Problem 7-5 * represents an incorrect N answer =COUNTIF(A14:H27,"~*")
Name: Akia Carter 1
Section: P7-05 " " represents an unanswered N box - counts as an incorrect. =COUNTIF(A14:H27," ")
15
Score: 11% " " represents a correct blank answer or N answer =COUNTIF(A14:H27," ")
2
Key Code: 2 Total SUM(AV13:AV15)
Instructions 18
Answers are entered in the cells with gray backgrounds. Percentage =AD6/AD8
Cells with non-gray backgrounds are protected and cannot be edited. 11%
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. " " represents a correct blank answer or N answer
a. Loss on impairment of goodwill 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.
b. Amortization of governmental and legal costs:
[Original Cost ¸ Years (Life)] ´ Portion of Year = Amortization Steps:
$ 3,000,000 * $ 57,500 Open this sheet and macro sheet
Open old templated, then change color palet to this sheet's
c. Depletion of timber rights: Insert new header - change problem number and reformat
Board Feet Copy these formulas (column AD) to new sheet.
(Original Cost ¸ Total Board Feet) ´ Cut and Sold = Depletion Update to new edition's names and numbers
$ 1,350,000 Copy new error check formulas. For N-boxes
=IF(sol.!$C$5="OFF","",IF(AC26=""," ",IF(AC26<>sol.!AC26,"*"," ")))
2. Balance Sheet For B-Boxes
Assets = Liabilities + Stockholders' Equity =IF(sol.!$C$5="OFF","",IF(AC29<>sol.!AC29,"*"," "))
Statement of Accumulated Retained Income
Cash Flows Goodwill + Patents - Depletion = + Earnings Statement Copy Score formula from this template to new sheet.
a. Loss on impaired goodwill =IF(sol.!$C$5="OFF","","Score:") =IF(sol.!$C$5="OFF","",AD10)
b. Amortization expense
c. Depletion expense
Record increases by entering a positive amount; record decreases by entering a negative amount.

sol.

Problem 7-5 * 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 1
Scoring: ON " " represents a correct blank answer or N answer =COUNTIF(A14:H27," ")
2
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. 67%
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. " " represents a correct blank answer or N answer
a. Loss on impairment of goodwill $ 3,000,000
b. Amortization of governmental and legal costs:
[Original Cost ¸ Years (Life)] ´ Portion of Year = Amortization
$ 920,000 8 1/2 $ 57,500 Steps:
Copy these formulas (column AD) to new sheet.
c. Depletion of timber rights: Update to new edition's names and numbers
Board Feet Copy new error check formulas. For N-boxes
(Original Cost ¸ Total Board Feet) ´ Cut and Sold = Depletion
$ 1,350,000 15,000,000 3,300,000 $ 297,000
For B-Boxes
=IF(sol.!$C$5="OFF","",IF(AC29<>sol.!AC29,"*"," "))
2. Balance Sheet
Assets = Liabilities + Stockholders' Equity Copy Score formula from this template to new sheet.
Statement of Accumulated Retained Income =IF(sol.!$C$5="OFF","","Score:") =IF(sol.!$C$5="OFF","",AD10)
Cash Flows Goodwill + Patents - Depletion = + Earnings Statement
a. $ (3,000,000) $ (3,000,000) $ (3,000,000) Loss on impaired goodwill
b. $ (57,500) (57,500) (57,500) Amortization expense
c. $ (297,000) (297,000) (297,000) Depletion expense
Record increases by entering a positive amount; record decreases by entering a negative amount.

P8-05.xls

Pr. 8-5

Problem 8-5 * represents an incorrect N answer =COUNTIF(A14:H27,"~*")
Name: Akia Carter 0
Section: P8-05 " " represents an unanswered N box - counts as an incorrect. =COUNTIF(A14:H27," ")
28
Score: 10% " " represents a correct blank answer or N answer =COUNTIF(A14:H27," ")
3
Key Code: 2 Total SUM(AV13:AV15)
Instructions 31
Answers are entered in the cells with gray backgrounds. Percentage =AD6/AD8
Cells with non-gray backgrounds are protected and cannot be edited. 10%
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.
1.
Maximum yearly total preferred dividend:
" " represents a correct blank answer or N answer
Preferred Dividends Common Dividends Total number of answers = sum of above
Total
Year Dividends Total Per Share Total Per Share 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.
2008 $ 28,000 $ 28,000
2009 44,000 44,000 Steps:
2010 48,000 48,000 Open this sheet and macro sheet
2011 60,000 Open old templated, then change color palet to this sheet's
2012 76,000 Insert new header - change problem number and reformat
2013 140,000 Copy these formulas (column AD) to new sheet.
Update to new edition's names and numbers
Copy new error check formulas. For N-boxes
=IF(sol.!$C$5="OFF","",IF(AC25=""," ",IF(AC25<>sol.!AC25,"*"," ")))
2.
Average annual dividend for preferred: For B-Boxes
Average annual dividend for common: =IF(sol.!$C$5="OFF","",IF(AC29<>sol.!AC29,"*"," "))
Copy Score formula from this template to new sheet.
=IF(sol.!$C$5="OFF","","Score:") =IF(sol.!$C$5="OFF","",AD10)
3. a. Return on initial investment, preferred:
b. Return on initial investment, common:
Enter a formula of shares x par x percentage
Enter as a formula of total/shares

sol.

Problem 8-5 * 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 1
Scoring: ON " " represents a correct blank answer or N answer =COUNTIF(A14:H27," ")
0
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. 0%
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.
1.
Maximum yearly total preferred dividend: $ 52,000
Preferred Dividends Common Dividends " " represents a correct blank answer or N answer
Total Total number of answers = sum of above
Year Dividends Total Per Share Total Per Share 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.
2008 $ 28,000 $ 28,000 $0.70 $ - $0.00
2009 44,000 44,000 1.10 - 0.00 Steps:
2010 48,000 48,000 1.20 - 0.00 Open this sheet and macro sheet
2011 60,000 52,000 1.30 8,000 0.16 Open old templated, then change color palet to this sheet's
2012 76,000 52,000 1.30 24,000 0.48 Insert new header - change problem number and reformat
2013 140,000 52,000 1.30 88,000 1.76 Copy these formulas (column AD) to new sheet.
$6.90 $2.40 Update to new edition's names and numbers
Copy new error check formulas. For N-boxes
2.
Average annual dividend for preferred: $1.15
Average annual dividend for common: $0.40 For B-Boxes
=IF(sol.!$C$5="OFF","",IF(AC29<>sol.!AC29,"*"," "))
3. a. Return on initial investment, preferred: 2.0%
b. Return on initial investment, common: 8.0% Copy Score formula from this template to new sheet.
=IF(sol.!$C$5="OFF","","Score:") =IF(sol.!$C$5="OFF","",AD10)
Enter as a formula of total/shares
Enter a formula of shares x par x percentage

P8-06.xls

Pr. 8-6

Problem 8-6 * represents an incorrect N answer =COUNTIF(A14:H27,"~*")
Name: Akia Carter 0
Section: P8-06 " " represents an unanswered N box - counts as an incorrect. =COUNTIF(A14:H27," ")
53
Score: 7% " " represents a correct blank answer or N answer =COUNTIF(A14:H27," ")
4
Key Code: 2 Total SUM(AV13:AV15)
Instructions 57
Answers are entered in the cells with gray backgrounds. Percentage =AD6/AD8
Cells with non-gray backgrounds are protected and cannot be edited. 7%
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
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 $ 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$5="OFF","",IF(AC29<>sol.!AC29,"*"," "))
Earnings before interest and income tax
Deduct interest on bonds Copy Score formula from this template to new sheet.
Income before income tax =IF(sol.!$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
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.

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.