Instructions for the Microsoft Excel Templates Detail and information on Excel is contained within the manual.

Striking the "F1" key or following the path "Windows>Excel Help" will invoke the Office Assistant and bring up one of several help menus.

Type your name into the cell to the right of the label "Name." This will be copied by formula to the rest of the pages as required Type the due date of your problem into cell to the right of the label "Date." Type your instructor's name into cell to the right of the label "Instructor." Type the course identifier into cell to the right of the label "Course." The problem is identified in the text of the challenge. In "DATE" cells enter the date in any of several formats and Excel will format it correctly. If more than one page is preformatted into the problem, page breaks are preset and formulas are set to copy the header into the remaining pages. Place the proper account title in the cell where the word "ACCOUNT" appears on the template. Place the amount in the cell where the word "AMOUNT" appears on the template. A formula may be placed in some of these cells. Enter a number like 914 to signify units or gallons where the word "NUMBER" appears. Write a formula into cells where the word "FORMULA" appears. In these cells, an amount calculated outside of Excel can be entered into Excel if desired. Place the explanation for the entry in the cell where the word "EXPLANATION" appears on the template. Insert the account number where "ACCT #" appears on the template during posting. Insert the journal reference where "JOURN #" appears on the template during posting. Insert the title in the cell where "TITLE" appears on the template. The print area is defined to fit onto 8 1/2" X 11" sheets in portrait or landscape mode as required. The gray filled cells define the perimeter of the problem and the print area. The problem is formatted for whole dollars with comma separations (no cents) except where required. The display may have "Freeze Pane" invoked so column titles remain visible during data entry. Negative values may be shown as ($400) vice -$400. Enter a string like: ($259,417 X 12 months) + (0.3651 X 5,434,631) where the word TEXT appears.

pages as required.

Name: Instructor: Accounting Principles, Ninth Edition by Weygandt, Kieso, and Kimmel

Date: Course:

Solving Accounting Principles Problems Using Microsoft Excel for Windows by Rex A Schildhouse P4-1A Thomas Magnum began operations as a private investigator on January 1, 2010. The trial balance columns of the work sheet for Thomas Magnum, P.I. at March 31 are as follows:
THOMAS MAGNUM, P.I. Worksheet For the Quarter Ended March 31, 2010 Adjustments Adjusted Trial Balance Dr. Cr. Dr. Cr. 11,400 530 6,150 670 a 380 600 d 1,800 30,000 10,000 12,350 20,000 600 530 e 14,150 2,200 1,300 1,200 200 670 1,000 1,000 c d 300 300 600 c 600 $57,800 b 300 300 $57,800 600 7,470 6,680 $14,150 14,150 $14,150 50,330 $50,330 670 1,000 1,000 300 300 43,650 6,680 $50,330

Account titles Cash Accounts Receivable Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable T. Magnum, Capital T. Magnum, Drawing Service Revenue Salaries Expense Travel Expense Rent Expense Miscellaneous Expense Supplies Expense Depreciation Expense Accumulated Depreciation Interest Expense Interest Payable Insurance Expense Totals Net Income Totals

Trial Balance Dr. Cr. $11,400 5,620 1,050 2,400 30,000 10,000 12,350 20,000 600 13,620 2,200 1,300 1,200 200 $55,970 $55,970

Income Statement Dr. Cr.

Balance Sheet Dr. Cr. 11,400 6,150 380 1,800 30,000 10,000 12,350 20,000 600

14,150 2,200 1,300 1,200 200 670 1,000 1,000

a b

Key: (a) Supplies Used; (b) Depreciation Expense; (c) Accrued Interest on note; (d) Insurance Expired; (e) Service Revenue Earned but unbilled.

FileName: 64019397.xls, Tab: Problem P4-1A, Page 3 of 8, 07/28/2011, 04:17:13

Name: Instructor:
Other data: $380 1. Supplies on hand total $1,000 2. Depreciation per quarter is 3. Interest accrued on 6-month note payable, issued January 1, $200 per month. 4. Insurance expires at the rate of 5. Services provided but unbilled at March 31 total $530

Date: Course:

$300

Instructions: (a) Utilize the worksheet, above, and complete the worksheet. (b) Prepare an income statement and owner's equity statement for the quarter and a classified balance sheet at March 31. T. Magnum did not make any additional investments in the business during the quarter ended March 31, 2010. THOMAS MAGNUM, P.I. THOMAS MAGNUM, P.I. Income Statement Balance Sheet For the Quarter Ended March 31, 2010 March 31, 2010 Revenues Assets Service Revenue $14,150 Current assets Expenses Cash $11,400 Salaries Expense $2,200 Accounts Receivable $6,150 Travel Expense 1,300 Supplies $380 Rent Expense 1,200 Prepaid insurance $1,600 Miscellaneous Expense 200 Total current assets $19,530 Supplies Expense 670 Property, plant, and equipment Depreciation Expense 1,000 Equipment 30,000 Interest Expense 300 Less: Accumulated depreciation 1,000 29,000 Insurance Expense 800 Total assets $48,530 Total expenses 7,670 Net income $6,480 Liabilities and Owners Equity Current liabilities Notes payable $10,000 THOMAS MAGNUM, P.I. Accounts payable $12,350 Owners Equity Statement Interest payable 300 For the Quarter Ended March 31, 2010 Total current liabilities 22,650 S. Holmes, Capital, Jan 1 $0 Owners equity Add: Investment T. Magnum $20,000 T. Magnum, Capital $25,880 Net Income 6,480 26,480 Total liabilities and owners equity $48,530 26,480 Less: Drawings 600 T. Magnum, Capital, March 31 $25,880

FileName: 64019397.xls, Tab: Problem P4-1A, Page 4 of 8, 07/28/2011, 04:17:13

Name: Instructor:
(c) Journalize the adjusting entries from the adjustments columns of the work sheet. Mar-31 Supplies Expense Supplies Depreciation Expense Accumulated Depreciation Interest Expense Interest Payable Insurance Expense Prepaid Insurance Accounts Receivable Service Revenue 670 670 1,000 1,000 300 300 600 600 530 530 Mar-31

Date: Course:
(d) Journalize the closing entries from the financial statement columns of the work sheet. Mar-31 Service Revenue 14,150 Income Summary Mar-31 Income Summary Salaries Expense Travel Expense Rent Expense Miscellaneous Expense Supplies Expense Depreciation Expense Interest Expense Insurance Expense Income Summary T. Magnum, Capital T. Magnum, Capital T. Magnum, Drawing 7,670

Mar-31

Mar-31

Mar-31

Mar-31

6,480

Mar-31

600

FileName: 64019397.xls, Tab: Problem P4-1A, Page 5 of 8, 07/28/2011, 04:17:13

at March 31 are as follows:

FileName: 64019397.xls, Tab: Problem P4-1A, Page 6 of 8, 07/28/2011, 04:17:14

al investments in the business

FileName: 64019397.xls, Tab: Problem P4-1A, Page 7 of 8, 07/28/2011, 04:17:14

ment columns of the work

14,150

2,200 1,300 1,200 200 670 1,000 300 800

6,480

600

FileName: 64019397.xls, Tab: Problem P4-1A, Page 8 of 8, 07/28/2011, 04:17:14