Excel Applications for Accounting Principles
4th Edition
ISBN: 9781111581565
Author: Gaylord N. Smith
Publisher: Cengage Learning
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Chapter 2, Problem 6R
The
Information for the
- a. Cleaning supplies on hand on December 31, 2012, $18,750.
- b. Insurance premiums expired during the year, $1,800.
- c.
Depreciation on equipment during the year, $21,600. - d. Wages accrued but not paid at December 31, 2012, $1,830.
With the F1WORK4 file open, click the Chart sheet tab. On the screen, a pie chart shows the percentage composition of the total expenses of Wikki Cleaners. Enter the percentages in the space provided. Compare the percentages of Wikki Cleaners with the national statistics provided.
Comment on the differences noted. Why might depreciation, utilities, and rent be so far off from the national percentages? When the assignment is complete, close the file without saving it again.
Worksheet. You prepared an income statement in requirement 6. Put a formal income statement somewhere on the F1WORK4 worksheet. Enter formulas in the income statement to reference the appropriate income statement cells in the worksheet. Use proper formats for all value cells. Enter your name above the income statement. Print your work (select and print just the income statement cells). Preview the printout to make sure that the income statement alone (not the whole worksheet) will print neatly on one page. Save the completed file as F1WORKT.
Chart. Using the F1WORK4 file, create a 3-D column chart showing the dollar total of each of the expenses of Wikki Cleaners. Use the Chart Data Table as a basis for preparing the chart. Use appropriate titles, legends, and formats. Enter your name somewhere on the chart. Save the file again as F1WORK4. Select the chart and then print it out.
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The balance in the prepaid insurance account, before adjustment at the end of the year, is $18,565.
Journalize the March 31 adjusting entry required under each of the following alternatives for determining the amount of the adjustment: (a) the amount of insurance expired during the year is $14,135; (b) the amount of unexpired insurance applicable to future periods is $4,430. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
Chapter 2 Solutions
Excel Applications for Accounting Principles
Ch. 2 - The trial balance of Wikki Cleaners at December...Ch. 2 - The trial balance of Wikki Cleaners at December...Ch. 2 - The trial balance of Wikki Cleaners at December...Ch. 2 - The trial balance of Wikki Cleaners at December...Ch. 2 - The trial balance of Wikki Cleaners at December...Ch. 2 - The trial balance of Wikki Cleaners at December...
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