# Accounting homework help

Accounting homework help. 14-2 Beginning an 8-column work sheet for a merchandising business
F14-3 Analyzing and recording a merchandise inventory adjustment on a worksheet
2. Click the Work Together Problem tab to view the blank data file.
3. Key your name in cell B2.
4. Key, For Month Ended December 31, 20– (use the current year), in cell C5.
5. Cells containing [F] require a formula. Create and key formulas to total the Trial Balance columns.
6. Cells containing [L] require a logical formula. Use the logical formula described on page 443 in your
textbook.
The IF function is another type of logical formula. IF functions compare two values and produce one result if
the comparison is TRUE and an alternate result if the comparison is FALSE.
Try using an IF function in step 6. The result should show the amount of the variance if the column totals are
out of balance or OK if they are in balance. Consult Help if you need assistance with IF functions.
7. Key in the missing account totals for–Accounts Receivable, Account Payable, Sales, and Purchases on
the approriate line of the Trial Balance column. Use column B for a debit amount and C for credit
amount.
8. Key the adjusting entries for Supplies–Office, Supplies–Store, Prepaid Insurance and Merchandise
Inventory on the appropriate line of the Adjustments Debit or Credit column. Use column E for a debit
amount and Column G for a credit amount.
9. Key the letter of the adjustment, in parenthesis, on the appropriate line of column D for debit entry and
column F for a credit entry. [Hint: to avoid the © symbol when keying “c”, add an extra space in the (
c).]
This data file will also be used to complete Work Together 14-3 through 14-6.
STEPS 10. Key the adjusting entries for Merchandise Inventory Account on the appropriate line of the Adjustments
Debit or Credit column. Use column E for a debit amount and Column G for a credit amount.
11. Key the adjusting entries for Allowance for Uncollectible Accounts and Depreciation on the appropriate
line of the Adjustments Debit or Credit column. Use column E for a debit amount and Column G for a
credit amount.
Instructions © 2009 South-Western, Cengage Learning
12. Key the adjusting entries for Depreciation on the appropriate line of the Adjustments Debit or Credit
column. Use column E for a debit amount and Column G for a credit amount.
13. Create formulas to extend the amounts from the Trial Balance and Adjustments columns to the Income
Statement (except Federal Income Tax Expense) and Balance Sheet columns. Extend Federal Income
Tax Expense from cell J70.
11. Create formulas to subtotal the columns. Calculate Federal Income Tax Expense using the ROUND
function.
12. Calculate the Federal Income Tax Expense adjustment and extend the amounts to the Income
Statement columns.
13. Calculate Net Income After Federal Income Tax. Create formulas to calculate the remaining column
totals. Extend the amount to the appropriate Balance Sheet column.
14. Check to see that all sets of columns are in balance. Make corrections as needed.
15. Save and Submit the spreadsheet.

Accounting homework help

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