Excel Applications for Accounting Principles
4th Edition
ISBN: 9781111581565
Author: Gaylord N. Smith
Publisher: Cengage Learning
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Chapter 10, Problem 5R
To determine
Determine whether the formulae for Employee J work by providing the given inputs in the cumulative gross pay column.
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Using Excel, create a table that shows the relationship between the interestearned and the amount deposited, as shown. we will first create the dollar amount column and the interest row, as shown . Next we will type into cell B3 the formula = $A3*B$2. We can now use the Fill command to copy the formula in other cells, resulting in the table as shown. Note that the dollar sign before A3 means column A is to remain unchanged in the calculations when the formula is copied into other cells. Also note that the dollar sign before 2 means that row 2 is to remain unchanged in calculations when the Fill command is used.
Application Time! 1) You will type the TVM inputs in the table provided from the "Info Sheet". 2)
Mirror the inputs from the "Info Sheet" to the TVM cells provided. 3) Within the TVM cells, if needed,
compound. 4) In the "ANSWER" cell show us your TVM calculation.
Goal 1: Opened an account with $1500, with the hope to have a total of $2500 saved in an
LG2-Q8 emergency fund within one year (no additional payments).
What would the quarterly interest rate be needed to reach this goal?
Goal 2: A credit card balance of $2000 with an 15% rate. The goal is to pay off the credit card
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What would be the monthly payment to reach this goal?
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in fuo (no
Compounding Number
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4
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12
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Click on the "Prepare Fin Sts" tab and enter your name in Cell C1. If Cell C1 is left blank, you will not be able to see your score.
Each graded cell is highlighted in yellow. Select all account titles/labels using dropdowns. Enter formulas for all dollar amounts.
The formula must only contain cell addresses.
Each correct formula will begin with =, +, or -.
The basic mathematical operators are +, -, * and /
Addition: To add the values in cells A1 and B4, the formula is =A1+B4
Subtraction: To subtract the value in cell B4 from the value in cell A1, the formula is =A1-B4
Multiplication: To multiply the values in cells A1 and B4, the formula is =A1*B4
Division: To divide the value in cell A1 by the value in cell B4, the formula is =A1/B4
THIS FILE REQUIRES THE USE OF =SUM FOR ALL TOTALS AND SUBTOTALS
The =SUM function adds all values…
Chapter 10 Solutions
Excel Applications for Accounting Principles
Ch. 10 - Based on 2011 tax rates provided, use a calculator...Ch. 10 - You have been asked to record the November payroll...Ch. 10 - To make the worksheet reusable each month, the...Ch. 10 - Prob. 4RCh. 10 - Prob. 5RCh. 10 - In the space provided below, prepare the journal...Ch. 10 - In the space provided below, prepare the journal...Ch. 10 - Prob. 8RCh. 10 - Click the Chart sheet tab. On the screen is a...
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