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Excel Applications for Accounting Principles 4th Edition by Gaylord Smith
Edition 4ISBN: 978-1111581565Excel Applications for Accounting Principles 4th Edition by Gaylord Smith
Edition 4ISBN: 978-1111581565 Exercise 2
PROBLEM DATA
On September 30, 2013, the general ledger of Leon's Golf Shop, which uses the calendar year as its accounting period, showed the following year-to-date account balances:
The merchandise inventory account had a $48,000 balance on January 1, 2013. The historical gross profit percentage is 40%.
REQUIREMENT
Open the file GP from the website for this book at cengagebrain.com. Enter all the formulas where indicated on the worksheet. Enter your name in cell A1. Save your completed worksheet as GP2. Print the worksheet. Also print your formulas. Check figure: Estimated ending inventory (cell D23), $72,400.
On September 30, 2013, the general ledger of Leon's Golf Shop, which uses the calendar year as its accounting period, showed the following year-to-date account balances:
The merchandise inventory account had a $48,000 balance on January 1, 2013. The historical gross profit percentage is 40%.
REQUIREMENT
Open the file GP from the website for this book at cengagebrain.com. Enter all the formulas where indicated on the worksheet. Enter your name in cell A1. Save your completed worksheet as GP2. Print the worksheet. Also print your formulas. Check figure: Estimated ending inventory (cell D23), $72,400.
Explanation
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The formulas in the worksheet will be en...
Excel Applications for Accounting Principles 4th Edition by Gaylord Smith
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