Instructions for the Microsoft Excel Templates
Be advised, the worksheet and workbooks are not protected.
Extensive detail and information is contained within the manual.
Striking the "F1" key or following the path "Windows>Excel Help" will invoke the Office Assistant and bring up one of
several help menus.
You should enter your name, course ID, date, and instructor's name into the cells at the top of the page.
Each page contains a page footer with a Page # of Page ## as well as time and date to assist in assembly of multiple pages.
Each worksheet contains the identification of the problem or exercise.
All formatting should have been accomplished to provide satisfactory presentation. See the text for additional assistance in
formating.
If more than one page is required by the problem, the page breaks are preset.
In general, the yellow highlighted cells are the cells which work and effort should be presented.
Place the proper account title in the cell where the word "Account title" appears on the template.
Place the value in the cell where the word "Value" or "Amount" appears on the template. A formula may be placed in some
of these cells.
Write a formula into cells where the word "Formula" appears. In these cells, an amount calculated can be entered. An
amount can be placed in these cells.
Place the explanation for the entry in the cell where the word "Text Explanation" appears on the template.
Insert the account number where "Acct Nbr" appears on the template during posting.
Insert the journal reference where "JOURN #" appears on the template during posting.
Insert the title in the cell where "TITLE" appears on the template.
The print area is defined to fit onto 8 1/2" X 11" sheets in portrait or landscape mode as required.
The gray filled cells define the perimeter of the problem and the print area.
The problem is formatted for whole dollars with comma separations (no cents) except where required.
The display may have "Freeze Pane" invoked so column titles remain visible during data entry.
Negative values may be shown as ($400) or -$400.
Consider using "Split" panes to assist in copy and paste of data.
580c0a9f-d846-420b-b4c5-51b269a78e2a.XLS, Page 1 of 3, 11/20/201111:22 AM
Much of the exercises and problems can have data entered by the "look to" or "=A34" type formula where cell A34 contains
the data to be entered. This precludes typing and data entry errors.
580c0a9f-d846-420b-b4c5-51b269a78e2a.XLS, Page 2 of 3, 11/20/201111:22 AM
Name: Date:
Instructor: Course:
Financial Accounting, Fifth Edition by Kimmel, Weygandt, and Kieso
Solving Financial Accounting Problems Using Microsoft Excel for Windows
by Rex A Schildhouse
E7-8, Prepare bank reconciliation and adjusting entries.
The following information pertains to Gilmore Company.
1. Cash balance per bank, July 31, $7,328
2. July bank service charge not recorded by the depositor $40
3. Cash balance per books, July 31, $7,280
4. Deposits in transit, July 31, $2,700
5. Note for $2,000 collected for Gilmore in July by the bank, plus interest $36 less
fee $20 The collection has not been recorded by Gilmore, and no interest has been
accrued.
6. Outstanding checks, July 31, $772
Instructions
(a) Prepare a bank reconciliation at July 31, 2010.
GILMORE COMPANY
Bank Reconciliation
July 31, 2010
Title Amount
Add: Title Amount
Formula
Less: Title Amount
Title Formula
Title Amount
Add: Collection of note receivable ($2,016 plus
accrued interest $36, less collection fee $20) Amount
Formula
Less: Title Amount
Title Formula
(b) Journalize the adjusting entries at July 31 on the books of Gilmore Company.
07/31/10 Account title Amount
Account title Amount
Account title Amount
Account title Amount
07/31/10 Account title Amount
Account title Amount
580c0a9f-d846-420b-b4c5-51b269a78e2a.XLS, Page 3 of 3, 11/20/201111:22 AM