General Instructions for all required Microsoft Excel Templates this semester

General Instructions for all required Microsoft Excel Templates this semesterDo not use Open Office or similar software only Microsoft Excel will doBe advised, the template workbooks and worksheets are not protected.Overtyping any data may remove it.Extensive detail and information is contained within the help function of Microsoft Excel and in the provided text.You should enter your name at the top of each page.Submit homework before the due date using the assignment tool in Blackboard. Besure to rename your file (Last name and firstinitital and chapte number) example Ingalls1.If more than one page is required by the template, manual page breaks have been set to provide consistent presentation.All of the cells have been correctly formatted for presentation and should not require any adjustment. For example, if the text requires one,two, or three significant digits in a presentation, the template has been set for that presentation in the appropriate cells.In general, the yellow highlighted cells are the cells which work and effort should be presented. These entries may include date(s), accounttitle(s), values, memorandum appropriate to the entry, or text answers to questions.And information or data which may be required by the solution will be entered in cells with borders to help identify them.Where a yellow highlighted cell shows “Date” enter the appropriate date for that step of the challenge. This may be any date format thatMicrosoft Excel accepts. Some of these formats include “1/1/12”, “01/01/12”, and “01/01/2012.” All of these will return January 01, 2010,in the format set in the template.Where a yellow highlighted cell shows “Acct Nbr” enter the appropriate account number, provided in the template and in the text for thatstep of the challenge. This entry may be a “Look to” formula to another cell where that information has been provided or previously entered.Where a yellow highlighted cell shows “Account Title” enter the appropriate account title for that step of the challenge. This is a text entryand most of those cells are set for the proper indentation for that step. Frequently the chart of accounts appropriate to the challenge isprovided and you can use the “look to” formula to reference the appropriate account title without typing it.Check with your instructor to see if abbreviated account titles are acceptable. For example “A/R” for Accounts Receivable, “A/P” forAccounts Payable. If your instructor is using a comparison process between workbooks for grading, these abbreviates may not beacceptable. DO NOT USE ABBREVIATIONS!Where a yellow highlighted cell shows titles such as “Values,” “Amounts,” or “Quantities” enter the appropriate numerical value for thatstep of the challenge. The cell is formatted for proper presentation of the entered information. If a dollar sign is appropriate, it should not beentered, Microsoft Excel will place it there through formatting. Commas and significant digits (decimals) are also set through formatting forcommon presentation. Since the formatting of the templates is not protected by any password, you may change any of the formatting foundin the templates to meet your desires.Where a yellow highlighted cell shows titles such as “Formula” you may enter the appropriate formula or enter a numerical valueappropriate for that step of the challenge. Most of the values necessary for the appropriate formula are located on the template in cells withborders or in other yellow highlighted cells. The formula may be a simple “Look to” formula, an equal sign and a cell reference, “=E27” ormore complex as “=E27*5,” or something similar to the time-value-of-money formula. These are addressed in the tutorial text provided forMicrosoft Excel.Where a yellow highlighted cell shows “Text” enter the appropriate text for that step of the challenge. This may be a memorandum entry fora journal entry or a lengthy text answer discussing the results of an analysis of a company’s financials. These titles can simply be typed over.Where a yellow highlighted cell shows titles such as “Journal Number” or “Journ #” you should enter the appropriate number provided inthe template and in the text for that step of the challenge. In general this will appear in instances such as “Record the following events inGeneral Journal number six.”Should you need to print, the print area is defined to fit onto 8 1/2″ × 11″ sheets in portrait or landscape mode as required. Margins aregenerally set to no less than 1/2″ so most printers can print them without a problem. If you printer cannot accept margins less than 1” youmay have to reformat the margins through Page Setup.The display may have “Freeze Pane” invoked so column titles remain visible during data entry. This can be removed by utilizing the Viewmenu and selecting “Unfreeze Panes” under “Freeze Panes.”When negative values are required, enter them by starting with a minus sign, “-“. Negative values may be shown as ($400) or -$400.Negative values in formulas can be created by putting a minus sign in front of the cell reference – “=E10*-E11” will return a negative valueif both cells E10 and E11 contain positive values.Microsoft Office and Microsoft Excel are products of, and copyrighted by,Microsoft Corporation, One Microsoft Way, Redmond, Washington 98052-6399Name:Instructor: IngallsDate:Course: BUA 201Financial Accounting: Chapter 9 HomeworkE9-5, Determine straight-line depreciation for partial period.Hinshaw Company purchased a new machine on October 1, 2014, at a cost of$90,000Thecompany estimated that the machine has a salvage value of$8,000The machine is expectedto be used for70,000working hours during its8-year life.Instructions:Compute the depreciation expense under the straight-line method for 2014 and 2015, assuming aDecember 31 year-end.AmountAmountStraight-line method:=FormulaNumber2014 depreciation =Amount2015 depreciation =Formula×Fraction=per yearFormulaName:Instructor: IngallsDate:Course: BUA 201Financial Accounting: Chapter 9 HomeworkE9-7, Journalize transactions related to disposals of plant assets.Wang Co. has delivery equipment that cost$50,000Instructions:Record entries for the disposal under the following assumptions.(a) It was scrapped as having no value.Account TitleAccount TitleAccount Title(b) It was sold for$24,000AmountAmountAmount$37,000Account TitleAccount TitleAccount TitleAccount Title(c) It was sold forand has been depreciatedAmountAmountAmountAmount$20,000Account TitleAccount TitleAccount TitleAccount TitleAmountAmountAmountAmountName:Instructor: IngallsDate:Course: BUA 201Financial Accounting: Chapter 9 HomeworkP9-2A, Journalize equipment transactions related to purchase, sale, retirement, and depreciation.At December 31, 2014, Navaro Corporation reported the following plant assets.Land$3,000,000Buildings$26,500,000Less: Accumulated depreciation—buildings11,925,000$14,575,000Equipment40,000,000Less: Accumulated depreciation—equipment5,000,000$35,000,000Total plant assets$52,575,000During 2015, the following selected cash transactions occurred.Purchased land for$2,200,000Apr 1$600,000when purchased on January 1, 2008. The equipment wasMay 1 Sold equipment that costsold for$170,000Jun 1Sold land for$1,600,000The land cost$1,000,000Jul 1Purchased equipment for$1,100,000$700,000when purchased on December 31, 2005. No salvageDec 31 Retired equipment that costvalue was received.Instructions:(a) Journalize the transactions. (Hint: You may wish to set up T accounts, post beginning balances, and then post 2015transactions.) Rijo uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year usefullife and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation onassets disposed of at the time of sale or retirement.Apr 1May 1May 1Jun 1Jul 1Dec 31Dec 31Account titleAccount titleAmountAccount titleAccount titleAmountAmountAmountAccount titleAmountAccount titleAmountAccount titleAccount titleShow how you computedthe Gain or Loss on th above transactionAccount titleAccount titleAccount titleAmountAccount titleAccount titleAmountAc
count titleAccount titleAmountAmountAmountAmountAmountAccount titleAmountAccount titleCompute the book value of the retired asset above(b) Record adjusting entries for depreciation for 2015.Account titleDec 31Account titleShow how you computed the depreciation on buildings hereDec 31AmountAmountAmountAccount titleAmountAccount titleShow your calculation of the depreciation on the equipment(c) Prepare the plant assets section of Rivera’s balance sheet at December 31, 2015.NAVARO CORPORATIONPartial Balance SheetDecember 31, 2015Plant AssetsAccount titleAccount titleAccount titleAccount titleAccount titleTotal plant assetsLandAmountAmountAmountAmountAmountAmountAmountAmountFormulaFormulaFormulaName:Instructor: IngallsDate:Course: BUA 201BuildingsEquipmentName:Instructor: IngallsDate:Course: BUA 201Accumulated Depreciation—BuildingsAccumulated Depreciation—Equipment