Excel Applications for Accounting Principles 4th Edition by Gaylord Smith

Exercise 1

PROBLEM DATA
The trial balance of Wikki Cleaners at December 31, 2012, the end of the current fiscal year, is as follows:

Information for the adjusting entries is as follows:
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.
REQUIREMENT
Complete the income statement and balance sheet columns by entering formulas in columns J, K, L, and M that reference the appropriate cells in columns H or I. Net income will be automatically calculated for the income statement and balance sheet. Check to be sure that these numbers are the same. Enter your name in cell A1. Save the completed file as F1WORK3. Print the worksheet. Also print your formulas using landscape orientation and fit-to-1 page scaling. Check figure: Net income (cell J30), $71,320.