Question

Reporting Adjusted Account Balances using Excel's SUM, Basic Math Functions and Cell Referencing

Maple Moving Company has provided a list of its account balances as of December 31, 2016 before year-end adjustments. The Controller has also provided you with a list of year end data to determine the adjusted account balances and has asked you to prepare the adjusted trial balance. Use the information included in the Excel Simulation and the Excel functions described below to complete the task.

• Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below, if in a blank cell, “=B3” was entered, the formula would output the result from cell B3, or 62,000 in this example.
• Basic Math functions: Allows you to use the basic math symbols to perform mathematical functions. You can use the following keys: + (plus sign to add), - (minus sign to subtract), * (asterisk sign to multiply), and / (forward slash to divide). From the Excel Simulation below, if in a blank cell “=B3+B4” was entered, the formula would add the values from those cells and output the result, or 113,000 in this example. If using the other math symbols the result would output an appropriate answer for its function.
• SUM function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges to utilize this function. From the Excel Simulation below, if in a blank cell “=SUM(C3,C4,C5)” was entered, the formula would output the result of adding those three separate cells, or 114,000 in this example. Similarly, if in a blank cell “=SUM(C3:C5)” was entered, the formula would output the same result of adding those cells, except they are expressed as a range in the formula, and the result would be 114,000 in this example.
  Clipboard Font Styles < A1 ✓ fo On December 31, 2016, Maple Moving Company had the following balances F А B с D E 1 On December 31, 2016, Maple Moving Company had the following balances before year end adjustments: 2 3 Cash $ 62.000 4 Accounts Receivable 51.000 5 Prepaid Rent 1,000 6 Prepaid Insurance 750 7 Supplies 67.600 8 Trucks 176,000 9 Accumulated Depreciation 17.600 10 Accounts Payable 37.500 11 Interest Payable 5,000 12 Wages Payable 10,000 13 Unearned Revenue 6,600 14 Notes Payable 100.000 15 Common Stock 66,000 16 Retained Earnings 23.400 17 Service Revenue 167.000 18 Wages Expense 61.000 19 Insurance Expense 2.750 20 Rent Expense 11.000 21 Supplies Expense 22 Depreciation Expense 23 Interest Expense Sheet1 + READY Attempts) 100%
  

Answer 1

Follow the links the image attached.

B с 1000 250 10800 15000 32500 3500 2000 A 1 Adjustment Entries 2 One Month of Rent Used One Month of Insurance Used 4 Interest Owed but not yet paid 5 Supplies on Hand 6 Truck Depreciation 7 Unpaid Wages earned by Employees Unearned Revenue that has been ea 9 10 11 Accounts Name 12 Cash 13 Account Receviable 14 Prepaid Rent 15 Prepaid Insurance 16 Supplies 17 Trucks 18 Accumulated Depreciation 19 Accounts Payable 20 Interest Payable 21 Wages Payable 22 Unearned Revenue 23 Notes Payable 24 Common Stock 25 Retained Earnings 26 Service Revenue 27 Wages Expense 28 Insurance Expense 29 Rent Expense 30 Supplies Expense 31 Depreciation Expense 32 Interest Expense 33 62,000 51,000 1,000 750 67,600 176,000 17,600 37,500 5,000 10,000 6,600 100,000 66,000 23,400 167,000 61,000 2,750 11,000

Н. A 35 36 37 Cash 38 Account Receviable 39 Prepaid Rent 40 Prepaid Insurance 41 Supplies 42 Trucks 43 Accumulated Depreciation 44 Accounts Payable 45 Interest Payable 46 Wages Payable 47 Unearned Revenue 48 Notes Payable 49 Common Stock 50 Retained Earnings 51 Service Revenue 52 Wages Expense 53 Insurance Expense 54 Rent Expense 55 Supplies Expense 56 Depreciation Expense 57 Interest Expense 58 Total 59 60 61 62 B с E G Unadjusted Trial Balance Adjustment Adjusted Trial Balance Debit Credit Debit Credit Debit Credit 62,000 62,000 51,000 51,000 1,000 1000 750 2501 500 67,600 52,600 15,000 176,000 176,000 17,600 32500 50,100 37,500 37,500 5,000 10800 15,800 10,000 3500 13,500 6,600 2000 4,600 100,000 100,000 66,000 66,000 23,400 23,400 167,000 2000 169,000 61,000 3500 64,500 2,750 250 3,000 11,000 1000 12,000 52,600 52,600 32500 32,500 10800 10,800 433, 100 433, 100 102,650 102,650 479,900 479,900 02

D E Adjustment Debit Credit +B2 +B3 +D55 +B6 A 35 36 37 Cash 38 Account Receviable 39 Prepaid Rent 40 Prepaid Insurance 41 Supplies 42 Trucks 43 Accumulated Depreciation 44 Accounts Payable 45 Interest Payable 46 Wages Payable 47 Unearned Revenue 48 Notes Payable 49 Common Stook 50 Retained Earnings 51 Service Revenue 52 Wages Expense 53 Insurance Expense 54 Rent Expense 55 Supplies Expense 56 Depreciation Expense 57 Interest Expense 58 Total 59 60 B C Unadjusted Trial Balance Debit Credit +B12 +B13 +B14 +B15 +B16 +B17 +B18 +B19 +B20 +B21 +B22 +B23 +B24 +B25 +B26 +B27 +B28 +B29 +B30 +B31 +B32 +B4 +B7 F G Adjusted Trial Balance Debit Credit +B37+D37-E37 +B38+D38-E38 +B39+D39-E39 +B40+D40-E40 +B41+D41-E41 +B42+D42-E42 +C43+E43-043 +C44+E44-044 +C45+E45-145 +C46+E46-046 +C47+E47-D47 +C48+E48-048 +C49+E49-049 +C50+E50-050 +C51+E51-051 +B52+052-E52 +B53+053-E53 +B54+054-E54 +B55+255-E55 +B56+D56-E56 +B57+D57-E57 +B8 +B8 +B7 +B3 +B2 +B41-B5 +B6 +B4