Instructions for the Microsoft Excel Templates Be advised the worksheet and workbooks are not protec - Excel 2 by upm97012

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									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, and date 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 formatting.

There should be no need to insert columns or rows into the workbooks.

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.




                                   Instructions, Page 1 of 3, 1/31/2011, 5:15 PM
Consider using "Split" panes to assist in copy and paste of data.

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.




                                  Instructions, Page 2 of 3, 1/31/2011, 5:15 PM
Name:
Problem:           P10-5, Classification of Costs and Interest
                           Capitalization
Course:
Date:
On January 1, 2010, Blair Corporation purchased for                            $500,000 a tract of land
(site number 101) with a building. Blair paid a real estate broker's commission of              $36,000
legal fees of         $6,000           and title guarantee insurance of         $18,000     The closing
statement indicated that the land value was        $500,000    and the building value was      $100,000
Shortly after acquisition, the building was razed at a cost of                  $54,000
Blair entered into a               $3,000,000 fixed-price contract with Slatkin Builders, Inc. on
March 1, 2010 for the construction of an office building on land site number 101. The building was
completed and occupied on September 30, 2011. Additional construction costs were incurred as follows:

                  Plans, specifications, and blueprints                          $21,000
                  Architects fees for design and supervision                     $82,000
The building is estimated to have a                 40       year life from date of completion and will be
depreciated using the 150% declining balance method.
To finance construction costs, Blair borrowed                 $3,000,000 on March 1, 2010. The loan
is payable in           10          annual installments of     $300,000 plus interest at the rate of
      10%         Blair's weighted-average amounts of accumulated building construction expenditures
were as follows:
                  For the period March 1 to December 31, 2010                $1,300,000
                  For the period January 1 to September 30, 2011             $1,900,000

Instructions:
(a) Prepare a schedule that discloses the individual costs making up the balance in the land account
    in respect of land site number 101 as of September 30, 2011.

                                           BLAIR CORPORATION
                                           Cost of Land (Site #101)
                                          As of September 30, 2011
                   Text Title                                                    Amount
                   Text Title                                                    Amount
                   Text Title                                                    Amount
                   Text Title                                                    Amount
                   Text Title                                                    Amount
                   Cost of land                                                  Formula

(b) Prepare a schedule that discloses the individual costs that should be capitalized in the office
   building account as of September 30, 2011. Show supporting computations in good form.

                                           BLAIR CORPORATION
                                               Cost of Building
                                          As of September 30, 2011
Text Title                                                                                            Amount
Text Title                                                                                            Amount
Text Title                                                                                            Amount
Text Title                                                                                            Amount
Text Title                                                                                            Amount
Cost of building                                                                                      Formula

Interest to be capitalized:
      2010               Amount       X          Percentage           =          Formula
      2011               Amount       X          Percentage           =          Formula




                                           Problem 10-5, Page 3 of 3, 1/31/2011, 5:15 PM

								
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