Homework Help is Here – Start Your Trial Now!
Business
Accounting
I The list below shows select accounts for Reading Readiness Company as of January 31, 20X1 2 (Accounts are in alphabetical order.) 3 8,088 6,960 13445 4,800 1,350 4 Accounts Payable Accounts Receivable 6. Cash 7. Equipment Insurance Expense Operating Expense Other Expenses 8. 11,800 10 3,482 6,050 11 Other Revenues Rent Expense Salaries Expense Short-term Notes Payable Test Prep Revenue 4,800 6,882 17,200 15 400 12 13 14 15 Tutoring Revenue Unearned Revenue 16 17 1,046 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. 22 Note: List revenues and expenses in order of largest to smallest dollar amounts. 23 24 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or

I The list below shows select accounts for Reading Readiness Company as of January 31, 20X1 2 (Accounts are in alphabetical order.) 3 8,088 6,960 13445 4,800 1,350 4 Accounts Payable Accounts Receivable 6. Cash 7. Equipment Insurance Expense Operating Expense Other Expenses 8. 11,800 10 3,482 6,050 11 Other Revenues Rent Expense Salaries Expense Short-term Notes Payable Test Prep Revenue 4,800 6,882 17,200 15 400 12 13 14 15 Tutoring Revenue Unearned Revenue 16 17 1,046 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. 22 Note: List revenues and expenses in order of largest to smallest dollar amounts. 23 24 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

provude formula please

Preparing an income statement - Excel REVIEW Sign In FILE INSERT PAGE LAYOUT FORMULAS DATA VIEW HOME A A Calibri 11 Alignment Number Conditional Format as Cell Formatting Table Styles Cells Editing Paste BIU- . A Clipboard Styles Font f. The list below shows select accounts for Reading Readiness Company as of Al D E B 1 The list below shows select accounts for Reading Readiness Company as of January 31, 20X1. 2 (Accounts are in alphabetical order.) 3. 8,088 Accounts Payable Accounts Receivable 4 in 6,960 13445 4,800 1,350 6. Cash Equipment Insurance Expense Operating Expense Other Expenses 8. 6. 11,800 10 3,482 11 Other Revenues 6,050 4,800 Rent Expense Salaries Expense Short-term Notes Payable 12 6,882 17,200 15 400 13 14 15 Test Prep Revenue 16 Tutoring Revenue 1,046 17 Unearned Revenue 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. 22 Note: List revenues and expenses in order of largest to smallest dollar amounts. 23 24 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or Sheet1
Transcribed Image Text:Preparing an income statement - Excel REVIEW Sign In FILE INSERT PAGE LAYOUT FORMULAS DATA VIEW HOME A A Calibri 11 Alignment Number Conditional Format as Cell Formatting Table Styles Cells Editing Paste BIU- . A Clipboard Styles Font f. The list below shows select accounts for Reading Readiness Company as of Al D E B 1 The list below shows select accounts for Reading Readiness Company as of January 31, 20X1. 2 (Accounts are in alphabetical order.) 3. 8,088 Accounts Payable Accounts Receivable 4 in 6,960 13445 4,800 1,350 6. Cash Equipment Insurance Expense Operating Expense Other Expenses 8. 6. 11,800 10 3,482 11 Other Revenues 6,050 4,800 Rent Expense Salaries Expense Short-term Notes Payable 12 6,882 17,200 15 400 13 14 15 Test Prep Revenue 16 Tutoring Revenue 1,046 17 Unearned Revenue 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. 22 Note: List revenues and expenses in order of largest to smallest dollar amounts. 23 24 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or Sheet1
Calibri -11 A A Alignment Number Conditional Format as Cell Editing Paste BIU- Cells Formatting- Table- Styles- Styles Clipboard G Font A1 f. The list below shows select accounts for Reading Readiness Company as of B D. E 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. 22 Note: List revenues and expenses in order of largest to smallest dollar amounts. 23 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 READING READINESS Company Income Statement For the Month Ended January 31, 20X1 27 28 29 Revenues: Test Prep Revenue 30 31 32 33 34 Total Revenues 35 Expenses: 36 37 38 39 40 41 Total Expenses 42
Transcribed Image Text:Calibri -11 A A Alignment Number Conditional Format as Cell Editing Paste BIU- Cells Formatting- Table- Styles- Styles Clipboard G Font A1 f. The list below shows select accounts for Reading Readiness Company as of B D. E 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. 22 Note: List revenues and expenses in order of largest to smallest dollar amounts. 23 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 READING READINESS Company Income Statement For the Month Ended January 31, 20X1 27 28 29 Revenues: Test Prep Revenue 30 31 32 33 34 Total Revenues 35 Expenses: 36 37 38 39 40 41 Total Expenses 42
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Database design
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS