File Home Insert Page Layout Formulas Data Review View Help O Tell me what you want to do X Cut E AutoSum - Calibri - 11 A A * Wrap Text General e Copy O Fill- $ - % Insert Delete Format Paste Conditional Format as Cell Sort & Find & BIU A Merge & Center - * Format Painter Formatting - Table- Styles • Clear Filter - Select Clipboard Font Alignment Number Styles Cells Editing 07 AB D E FG H LM N P R V X Instructional Instructional Accounting 500,000 $ 1,000,000 250,000 $ 550,000 Business 1 Revenues Operating Expenses Income before Service Charges 2 3 FORMULA 1 FORMULA 2 5 Investment $ 300,000$ 500,000 7 ROI before service charges FORMULA 3 FORMULA 4 8 Number of professors 10 Number of studenta in program 200 500 Payroll (Driver is # of (Driver is # of professora) 100,000 $ Advising 4 Service department expenses students) 200,000 7. Service department charge rate FORMULA 5 FORMULA 6 Instructional Instructional Accounting 24 500,000 $ 1,000,000 250,000 $ 550,000 Business Revenues Operating expenses Income before service charges 250,000 $ 450,000 3 Service charges: FORMULA 8 Рayroll Advising Income from operations FORMULA 7 FORMULA 9 FORMULA 10 FORMULA 11 FORMULA 12 ROI after service charges FORMULA 13 FORMULA 14 9 Sheet1
The Effect Of Prepaid Taxes On Assets And Liabilities
Many businesses estimate tax liability and make payments throughout the year (often quarterly). When a company overestimates its tax liability, this results in the business paying a prepaid tax. Prepaid taxes will be reversed within one year but can result in prepaid assets and liabilities.
Final Accounts
Financial accounting is one of the branches of accounting in which the transactions arising in the business over a particular period are recorded.
Ledger Posting
A ledger is an account that provides information on all the transactions that have taken place during a particular period. It is also known as General Ledger. For example, your bank account statement is a general ledger that gives information about the amount paid/debited or received/ credited from your bank account over some time.
Trial Balance and Final Accounts
In accounting we start with recording transaction with journal entries then we make separate ledger account for each type of transaction. It is very necessary to check and verify that the transaction transferred to ledgers from the journal are accurately recorded or not. Trial balance helps in this. Trial balance helps to check the accuracy of posting the ledger accounts. It helps the accountant to assist in preparing final accounts. It also helps the accountant to check whether all the debits and credits of items are recorded and posted accurately. Like in a balance sheet debit and credit side should be equal, similarly in trial balance debit balance and credit balance should tally.
Adjustment Entries
At the end of every accounting period Adjustment Entries are made in order to adjust the accounts precisely replicate the expenses and revenue of the current period. It is also known as end of period adjustment. It can also be referred as financial reporting that corrects the errors made previously in the accounting period. The basic characteristics of every adjustment entry is that it affects at least one real account and one nominal account.
Accounting Excel Practice Problem - I attached a picture of the instructions and I attached a picture of the excel spreadsheet. Anywhere it says "formula" on the excel spreadsheet, needs the formula figured out.
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Formulas
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& Share
X Cut
E AutoSum
A A
22 Wrap Text
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Calibri
11
General
e Copy
V Fill
Paste
В I
$ • %
Conditional Format as
Cell
Insert Delete Format
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2 Merge & Center -
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V Format Painter
Formatting
Table
Styles
O Clear
Filter - Select
Clipboard
Font
Alignment
Number
Styles
Cells
Editing
07
fx
AB
D
F G
H
K
N
Q
R
V
W
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Instructional
Instructional
Accounting
$
500,000
10
Business
$ 1,000,000
$
11
Revenues
Operating Expenses
Income before Service Charges
12
250,000
550,000
13
FORMULA 1
FORMULA 2
14
15
Investment
$
300,000
$
500,000
16
17
ROI before service charges
FORMULA 3
FORMULA 4
18
Number of professors
Number of students in program
19
10
20
200
500
21
22
Рayroll
(Driver is # of
professors)
100,000
Advising
(Driver is # of
students)
200,000
23
24
25
Service department expenses
26
27
Service department charge rate
FORMULA 5
FORMULA 6
28
Instructional
Instructional
29
Accounting
Business
$
$ 1,000,000
2$
30
Revenues
500,000
31
Operating expenses
$
250,000
550,000
$
Income before service charges
Service charges:
32
$
250,000
450,000
33
Рayroll
Advising
Income from operations
34
FORMULA 7
FORMULA 8
35
FORMULA 9
FORMULA 10
36
FORMULA 11
FORMULA 12
37
38
ROI after service charges
FORMULA 13
FORMULA 14
39
Sheet1
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Data set #2
Data set #3
Below you will see three sets of inputs. After inputting all of your formulas,
you should be able to use any of these sets of data and have the answers
automatically update.
Inputs:
Inputs:
Instructional Instructional
Business
Instructional Instructional
Accounting
600,000
$ 250,000$
FORMULA 1
Accounting
Business
Please choose one of the data sets above and input all of the necessary
formulas to find the answers. Once you are done, choose a different data
set, enter it into your spreadsheet, and check the updated answers to
$ 1,200,000
800,000
FORMULA 2
Revenues
Revenues
%24
600,000
$ 1,000,000
Operating Expenses
Income before Service Charges
250,000 $ 600,000
Operating Expenses
Income before Service Charges
FORMULA 1
FORMULA 2
ensure that everything is flowing through the formulas appropriately. A
check answer for each one has been provided.
Investment
750,000 $ 1,000,000
Investment
750,000 $
900,000
ROI before service charges
FORMULA 3
FORMULA 4
ROI before service charges
FORMULA 3
FORMULA 4
Number
professors
students in program
Data set #1
20
20
Number
Number
professors
students
20
Number
700
300
program
700
500
Inputs
Instructional Instructional
Accounting
500,000 $ 1,000,000
Advising
(Driver is # of (Driver is # of
students)
400,000
Рayroll
Advising
Рayroll
Business
(Driver is # of (Driver is # of
professors)
$ 100,000 $ 200,000
professors)
$ 100,000 $
Revenues
$
$ 250,000 $ 550,000
students)
Service department expenses
Operating Expenses
Income before Service Charges
Service department expenses
FORMULA 1
FORMULA 2
Check figure (ROI after service charges – Instructional
Accounting):
Check figure (ROI after service charges – Instructional
Accounting):
Investment
300,000
500,000
ROI before service charges
FORMULA 3
FORMULA 4
20%
Number of professors
Number of students in program
10
200
500
Рayroll
Advising
(Driver is # of (Driver is # of
professors)
$ 100,000 $
students)
200.000
Service department expenses
Check figure (ROI after service charges – Instructional Accounting):
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