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# ACCT-3010 EXCEL ASSIGNMENT 3 Parts Fall 2011 Assignment 1 Due: September 29, 2011 10 points

Chapter 3 Problem 3-4 (textbook page 144): Using Excel set up a 13 column worksheet (page 130) with two columns added for the Post-closing Trial Balance. Complete the problem using Excel. Save the file as Your Name Excel 1. Drop the file in the D2L Dropbox named Excel problem 1.
1. Format for Accounting, no .00, no (negative signs) and no ( ) to indicate a loss, only use \$ on the financial statements. 2. If you need help with the financial statements (Income Statement, Statement of Retained Earnings, Balance Sheet) study pages 118-119 in the text book. 3. You will only have three sheets in your Excel workbook: the Worksheet, the Journal Entries, and the Financial Statements. 4. The Post-closing Trial Balance should be on the Worksheet, not on a separate sheet. 5. The only numbers entered on the Worksheet should be in the Trial Balance columns and the Adjustments columns. Use a formula to calculate ending Retained Earnings. (You may reference the Journal to enter the adjusting entries on the worksheet.) 6. Use If Statements on Excel to calculate Net Income (Loss) and to transfer the income or loss to the Balance Sheet columns. a. Example: if(revenues>expenses,(revenues expenses),0) and =if(expenses>revenues,-(revenues-expenses),0); if(cell?>0,cell?,0) to move Net Income. Total If Statements required 4. 7. To divide the Selling and Administrative expenses by percentages, enter the percentages on the worksheet. Use HELP to learn more!! 8. Reference the worksheet to get the correct amounts on the Financial Statements. No numbers entered on the statements. Drop the file in the D2L Drop box.

Assignment 2

## Due: October 25, 2011

10 points

Use Excel to develop a template that can be used to determine the amount of proceeds expected from an issuance of bonds. You will need an Input and Output section. Do not enter any numbers in the Output Section. You will need to use the Time Value of Money formulas. (Do not use the functions from Excel.) Prepare a Worksheet (sheet 2 in the workbook) to manually entry your answers. Use your template to solve the following example. Save your file as Your Name Excel 2 and drop in the D2L Dropbox named Excel problem 2. Your company is considering the issuance of bonds in the amount of \$100,000. The bonds mature in 5 years and have an annual stated rate of 10%. Market interest rates have been fluctuating in recent weeks, and the treasure of your company would like to know the amount of proceeds that can be expected from the issuance of the bonds. Determine the amount of proceeds that will be received when the bonds are issued, assuming market interest rates for similar bonds are: 1. 11% 3. 10% 5. 8% 2. 12% 4. 9% 6. 7%

Assignment 3

## Due: November 29, 2011

10 points

T.J. Wang Inc. manufactures and sell four products, the inventories of which are priced at cost or market, whichever is lower. A normal profit margin rate of 30% is usually maintained on each of the four products. The following information was complied as of December 31, 2011. Original Product Cost A \$17.50 B 48.00 C 35.00 D 47.50 Cost to Replace \$14.00 78.00 42.00 45.00 Estimated Cost to Dispose \$ 6.00 26.00 15.00 20.50 Expected Selling Price* \$ 30.00 100.00 80.00 95.00

*Normal margin is 30% of selling price. Use Excel to prepare a schedule containing unit value (including floor and ceiling) for determining the lower-of-cost-or-market (LOCOM) on an individual product basis. Use Illustration 9-5, page 497 as an example. Use a formula to select the unit value to be used for inventory valuation. Save your file as Your Name Excel 3. Drop your file in the D2L Dropbox named Excel problem 3. Use HELP for MIN and MEDIAN. Example of set-up:
Excel 3 T.L. Wang LOCOM

Product A B C D

## Estimated Cost to Dispose

Market Market Value Cost to Replace Ceiling Floor Designative Market Original Cost Inventory Value

Net Realizable Ceiling Value Floor Net Realizable Value less Normal Profit Margin Normal profit margin 30% of selling price