Instructions for the Microsoft Excel Templates by Rex A Schildhouse

Be advised, the template workbooks and worksheets are not protected.

Overtyping any data may remove it.
Extensive detail and information is contained within the help function of Microsoft Excel and in the provided text.
You should enter your name, date, instructor's name, and course into the cells at the top of the page. This information will be printed on the
top of each page if the template requires more than one page.
Each template is set to print with File Name, Page # of # Page(s), the print date, and the print time to assist in assembly of multiple pages.

If more than one page is required by the template, manual page breaks have been set to provide consistent presentation.
All of the cells have been correctly formatted for presentation and should not require any adjustment. For example, if the text requires one,
two, or three significant digits in a presentation, the template has been set for that presentation in the appropriate cells.

In general, the yellow highlighted cells are the cells which work and effort should be presented. These entries may include date(s), account
title(s), values, memorandum appropriate to the entry, or text answers to questions.
And information or data which may be required by the solution will be entered in cells with borders to help identify them.
Where a yellow highlighted cell shows "Date" enter the appropriate date for that step of the challenge. This may be any date format that
Microsoft Excel accepts. Some of these formats include "1/1/14", "01/01/14", and "01/01/2014." All of these will return he appropriately
formated date such as January 01, 2014, in the template.
Where a yellow highlighted cell shows "Acct Nbr" enter the appropriate account number, provided in the template and in the text for that
step of the challenge. This is entry may be a "Look to" formula to another cell where that information has been provided or previously
entered.
Where a yellow highlighted cell shows "Account Title" enter the appropriate account title for that step of the challenge. This is a text entry
and most of those cells are set for the proper indentation for that step. Frequently the chart of accounts appropriate to the challenge is
provided and you can use the "look to" formula to reference the appropriate account title without typing it.

Check with your instructor to see if abbreviated account titles are acceptable. For example "A/R" for Accounts Receivable, "A/P" for
Accounts Payable. If your instructor is using a comparison process between workbooks for grading, these abbreviates may not be acceptable

Where a yellow highlighted cell shows titles such as "Values," "Amounts," or "Quantities" enter the appropriate numerical value for that step
of the challenge. The cell is formatted for proper presentation of the entered information. If a dollar sign is appropriate, it should not be
entered, Microsoft Excel will place it there through formatting. Commas and significant digits (decimals) are also set through formatting for
common presentation. Since the formatting of the templates is not protected by any password, you may change any of the formatting found
in the templates to meet your desires.

Where a yellow highlighted cell shows titles such as "Formula" you may enter the appropriate formula or enter a numerical value appropriat
for that step of the challenge. Most of the values necessary for the appropriate formula are located on the template in cells with borders or in
other yellow highlighted cells. The formula may be a simple "Look to" formula, an equal sign and a cell reference, "=E27" or more complex
as "=E27*5," or something similar to the time-value-of-money formula. These are addressed in the tutorial text provided for Microsoft
Excel.
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Where a yellow highlighted cell shows titles such as "Formula" you may enter the appropriate formula or enter a numerical value appropriat
for that step of the challenge. Most of the values necessary for the appropriate formula are located on the template in cells with borders or in
other yellow highlighted cells. The formula may be a simple "Look to" formula, an equal sign and a cell reference, "=E27" or more complex
as "=E27*5," or something similar to the time-value-of-money formula. These are addressed in the tutorial text provided for Microsoft
Excel.

Where a yellow highlighted cell shows "Text" enter the appropriate text for that step of the challenge. This may be a memorandum entry for
a journal entry or a lengthy text answer discussing the results of an analysis of a company's financials. These titles can simply be typed over.

Where a yellow highlighted cell shows titles such as "Journal Number" or "Journ #" you should enter the appropriate number provided in th
template and in the text for that step of the challenge. In general this will appear in instances such as "Record the following events in
General Journal number six."
The print area is defined to fit onto 8 1/2" 11" sheets in portrait or landscape mode as required. Margins are generally set to no less than
1/2" so most printers can print them without a problem. If you printer cannot accept margins less than 1" you may have to reformat the
margins through Page Setup.
The display may have "Freeze Pane" invoked so column titles remain visible during data entry. This can be removed by utilizing the View
menu and selecting "Unfreeze Panes" under "Freeze Panes."
When negative values are required, enter them by starting with a minus sign, "-". Negative values may be shown as ($400) or -$400.
Negative values in formulas can be created by putting a minus sign in front of the cell reference - "=E10*-E11" will return a negative value
if both cells E10 and E11 contain positive values.
Microsoft Office and Microsoft Excel are products of, and copyrighted by,
Microsoft Corporation, One Microsoft Way, Redmond, Washington 98052-6399

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Name:
Date:
Instructor:
Course:
Financial Accounting, Seventh Edition by Kimmel, Weygandt, and Kieso
Primer on Using Excel in Accounting by Rex A Schildhouse
E1-15, Classify items as assets, liabilities, and stockholders equity and prepare accounting equation.
The following items were taken from the balance sheet of Nike, Inc. (All dollars are in millions.)
1 Cash
$2,291.1
7 Inventory
$2,357.0
2 Accounts receivable
2,883.9
8 Income taxes payable
86.3
3 Common stock
2,874.2
9 Equipment
1,957.7
4 Notes payable
342.9
10 Retained earnings
5,818.9
5 Buildings
3,759.9
11 Accounts payable
2,815.8
6 Mortgage payable
1,311.5
Instructions:
Perform each of the following. (All dollars are in millions.)
(a) Classify each of these items as an asset, liability, or stockholders equity and determine the total dollar amount for
each classification. (All dollars are in millions.)
Assets
Cash
$2,291.1
Accounts receivable
2,883.9
Equipment
1,957.7
Buildings
3,759.9
Inventory
2,357.0
Total assets
$13,249.6
Liabilities
Notes payable
Mortgage payable
Income taxes payable
Accounts payable
Total liabilities

$342.9
1,311.5
86.3
2,815.8
$4,556.5

Stockholders' Equity
Common stock
Retained earnings
Total stockholders' equity

$2,874.2
5,818.9
$8,693.1

(b) Determine Nike's accounting equation by calculating the value of total assets, total liabilities, and total
stockholders' equity.
Assets
=
Liabilities
+
Stockholders' Equity
$13,249.6

$4,556.5

$8,693.1

(c) To what extent does Nike rely on debt verses equity financing?
Enter text answer here.

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Name:
Date:
Instructor:
Course:
Financial Accounting, Seventh Edition by Kimmel, Weygandt, and Kieso
Primer on Using Excel in Accounting by Rex A Schildhouse
P1-3A, Prepare an income statement, retained earnings statement, and balance sheet; discuss results.
On June 1, Hightower Service Co. was started with an initial investment in the company of
$22,100
cash. Here are the assets and liabilities of the company at June 30, and the revenues and expenses for the month of June,
its first month of operations:
Cash
$4,600
Notes payable
$12,000
Accounts receivable
4,000
Accounts payable
500
Service revenue
7,500
Supplies expense
1,000
Supplies
2,400
Maintenance and repairs expense
600
Advertising expense
400
Utilities expense
300
Equipment
26,000
Salaries and wages expense
1,400
Common stock
22,100
In June, the company issued no additional stock, but paid dividends of
$1,400
Instructions:
(a) Prepare an income statement and a retained earnings statement for the month of June and a balance sheet at June
30, 2014.
HIGHTOWER SERVICE CO.
Income Statement
For the Month Ended June 30, 2014
Revenues
Service revenue
$7,500
Expenses
Advertising expense
$400
Supplies expense
1,000
Maintenance and repairs expense
600
Utilities expense
300
Salaries and wages expense
1,400
Total expenses
3,700
Net income
$3,800
HIGHTOWER SERVICE CO.
Retained Earnings Statement
For the Month Ended June 30, 2014
Retained earnings, June 1
Add: Net Income
Less: Dividents
Retained earnings, June 30

$0
3,800
3,800
1,400
$2,400

HIGHTOWER SERVICE CO.

Balance Sheet
June 30, 2014
Assets
Cash
Accounts receivable
Supplies
Equipment

$4,600
4,000
2,400
26,000

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Name:
Instructor:

Date:
Course:
Total assets
Liabilities and Stockholders' Equity
Liabilities
Notes payable
$12,000
Accounts payable
500
Total liabilities
Stockholders' equity
Common stock
22,100
Retained Earnings
2,400
Total stockholders' equity
Total liabilities and stockholders' equity

$37,000

$12,500

24,500
$37,000

(b) Briefly discuss whether the companys first month of operations was a success.
Enter text answer here.

(c) Discuss the companys decision to distribute a dividend.

Enter text answer here.

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Name:
Date:
Instructor:
Course:
Financial Accounting, Seventh Edition by Kimmel, Weygandt, and Kieso
Primer on Using Excel in Accounting by Rex A Schildhouse
P1-3B, Prepare an income statement, retained earnings statement, and balance sheet; discuss results.
Shaw's Garden was started on May 1 with an investment of
$45,000 cash. Following are the assets,
liabilities, and common stock of the company on May 31, 2014, and the revenues and expenses for the month of May,
its first month of operations.
Accounts receivable
$8,400
Notes payable
$26,000
Service revenue
10,400
Salaries and wages expense
1,900
Advertising expense
1,800
Equipment
58,800
Accounts payable
4,400
Maintenance and repairs expense
2,100
Cash
10,800
Insurance expense
400
Common stock
45,000
No additional common stock was issued in May, but a dividend of

$1,600

in cash was paid.

Instructions:
(a) Prepare an income statement and a retained earnings statement for the month of May and a balance sheet at May
31, 2014.
SHAW'S GARDEN
Income Statement
For the Month Ended May 31, 2014
Revenues
Service revenue
$10,400
Expenses
Advertising expense
$1,800
Salaries and wages expense
1,900
Maintenance and repairs expense
2,100
Insurance expense
400
Total expenses
6,200
Net income
$4,200
SHAW'S GARDEN
Retained Earnings Statement
For the Month Ended May 31, 2014
Retained earnings, May 1
Add: Net income
Less: Dividents
Retained earnings, May 31

$0
4,200
4,200
1,600
$2,600

SHAW'S GARDEN
Balance Sheet
May 31, 2014
Assets
Cash
Accounts receivable
Equipment
Total assets

$10,800
8,400
58,800
$78,000

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Name:
Instructor:

Date:
Course:
Liabilities and Stockholders' Equity
Liabilities
Accounts payable
$4,400
Notes payable
26,000
Total liabilities
Stockholders' equity
Common stock
45,000
Retained Earnings
2,600
Total stockholders' equity
Total liabilities and stockholders' equity

$30,400

47,600
$78,000

(b) Briefly discuss whether the companys first month of operations was a success.
Enter text answer here.

(c) Discuss the companys decision to distribute a dividend.

Enter text answer here.

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