A B C D 1 The list below shows select accounts for Reading Readiness Company as of January 31, 20X1. 2 Accounts are in alphabetical order.) 3 4 567604459927222 10 11 12 13 14 15 16 17 18 Accounts Payable Accounts Receivable Cash Equipment Insurance Expense Operating Expense Other Expenses Other Revenues Rent Expense Salaries Expense Short-term Notes Payable Test Prep Revenue Tutoring Revenue Unearned Revenue > READY Attempt(s) S 19 Required: 20 L. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references 21 o select account titles and amounts to be included on the income statement. 22 Vote: List revenues and expenses in order of largest to smallest dollar amounts. 23 8,088 6,960 13,445 4,800 1,350 11,800 3,482 6,050 www 4,800 6,882 17,200 15,400 9,100 1,046 24 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or Sheet1 E 4 LL
A B C D 1 The list below shows select accounts for Reading Readiness Company as of January 31, 20X1. 2 Accounts are in alphabetical order.) 3 4 567604459927222 10 11 12 13 14 15 16 17 18 Accounts Payable Accounts Receivable Cash Equipment Insurance Expense Operating Expense Other Expenses Other Revenues Rent Expense Salaries Expense Short-term Notes Payable Test Prep Revenue Tutoring Revenue Unearned Revenue > READY Attempt(s) S 19 Required: 20 L. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references 21 o select account titles and amounts to be included on the income statement. 22 Vote: List revenues and expenses in order of largest to smallest dollar amounts. 23 8,088 6,960 13,445 4,800 1,350 11,800 3,482 6,050 www 4,800 6,882 17,200 15,400 9,100 1,046 24 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or Sheet1 E 4 LL
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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PAGE LAYOUT
Accounts Payable
Accounts Receivable
Cash
Equipment
Insurance Expense
Operating Expense
***
T
A A
Tutoring Revenue
Unearned Revenue
Y
A.
Other Expenses
Other Revenues
Rent Expense
Salaries Expense
Short-term Notes Payable
Test Prep Revenue
5
B
C
D
1 The list below shows select accounts for Reading Readiness Company as of January 31, 20X1.
Accounts are in alphabetical order.)
2
3
4
M Week 3 Anno X
FORMULAS
Saved
S
DATA
%
Alignment Number Conditional Format as Cell
Formatting Table Styles
Styles
REVIEW
✓ fx The list below shows select accounts for Reading Readiness Company as of
< Prev
8,088
6,960
13,445
4,800
1,350
11,800
14
15
16
17
18
19 Required:
20 L. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references
o select account titles and amounts to be included on the income statement.
22 Vote: List revenues and expenses in order of largest to smallest dollar amounts.
23
24
3,482
6,050
4,800
6,882
17,200
15,400
9,100
1,046
7 of 8
Microsoft acco X
VIEW
www
After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or
Sheet1
▸
+
4
O Search
CB
Cells
L
Next >
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FILE
Paste
ducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmg
A1
Clipboard G
5
6
L
EB-
7
HOME
8
9
10
11
12
13
Calibri
B IU •
INSERT
:
Font
READY
Attempt(s)
X
11
Q Accounting Ex x
PAGE LAYOUT
Accounts Payable
Accounts Receivable
Cash
Equipment
Insurance Expense
Operating Expense
***
T
A A
Tutoring Revenue
Unearned Revenue
Y
A.
Other Expenses
Other Revenues
Rent Expense
Salaries Expense
Short-term Notes Payable
Test Prep Revenue
5
B
C
D
1 The list below shows select accounts for Reading Readiness Company as of January 31, 20X1.
Accounts are in alphabetical order.)
2
3
4
M Week 3 Anno X
FORMULAS
Saved
S
DATA
%
Alignment Number Conditional Format as Cell
Formatting Table Styles
Styles
REVIEW
✓ fx The list below shows select accounts for Reading Readiness Company as of
< Prev
8,088
6,960
13,445
4,800
1,350
11,800
14
15
16
17
18
19 Required:
20 L. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references
o select account titles and amounts to be included on the income statement.
22 Vote: List revenues and expenses in order of largest to smallest dollar amounts.
23
24
3,482
6,050
4,800
6,882
17,200
15,400
9,100
1,046
7 of 8
Microsoft acco X
VIEW
www
After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or
Sheet1
▸
+
4
O Search
CB
Cells
L
Next >
o Mail - Pedro X
E
#
Editing
m
F
+
Sign In
▶
100%
Hint
Help Sa
A
+
Y
CA
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B
=
Revenues:
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Font
-11
Total Revenues
Expenses:
✓
B
22 Note: List revenues and expenses in order of largest to smallest dollar amounts.
23
Total Expenses
PAGE LAYOUT
18
19 Required:
20 1. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references
21 to select account titles and amounts to be included on the income statement.
Sheet1
Y
A A
%
A Alignment Number
T
www
fx
24 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or
25 "Net Loss" as appropriate based on the value calculated in cell C42.
26
27
5
Preparing an income statement - Excel
FORMULAS
DATA
REVIEW
=
READING READINESS Company
Income Statement
For the Month Ended January 31, 20X1
+
Saved
C
< Prev
Conditional Format as Cell
Formatting Table Styles
Styles
VIEW
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28
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A
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41
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HOME
-
4
Calibri
▸
BIU
V
INSERT
READY
Attempt(s)
B
=
Revenues:
...
Font
-11
Total Revenues
Expenses:
✓
B
22 Note: List revenues and expenses in order of largest to smallest dollar amounts.
23
Total Expenses
PAGE LAYOUT
18
19 Required:
20 1. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references
21 to select account titles and amounts to be included on the income statement.
Sheet1
Y
A A
%
A Alignment Number
T
www
fx
24 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or
25 "Net Loss" as appropriate based on the value calculated in cell C42.
26
27
5
Preparing an income statement - Excel
FORMULAS
DATA
REVIEW
=
READING READINESS Company
Income Statement
For the Month Ended January 31, 20X1
+
Saved
C
< Prev
Conditional Format as Cell
Formatting Table Styles
Styles
VIEW
D
4
7 of 8 HHH
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