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Instructions for the Microsoft Excel Templates Be advised the worksheet and workbooks are not protec - Excel 5

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Instructions for the Microsoft Excel Templates Be advised the worksheet and workbooks are not protec - Excel 5 Powered By Docstoc
					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, 8/10/2011, 2:42 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, 8/10/2011, 2:42 PM
Name:
Problem:         P7-3, Bad Debt Reporting - Aging
Course:
Date:
Manilow Corporation operates in an industry that has a high rate of bad debts. Before any year-end
adjustments, the balance in Manilow’s Accounts Receivable account was                       $555,000
and the Allowance for Doubtful Accounts had a credit balance of              $40,000     The year-end
balance reported in the balance sheet for the Allowance for Doubtful Accounts will be based on the aging
schedule shown below.

                        Days Account Outstanding               Amount          Probability of Collection
                 Less than 16 days                            $300,000                   0.98
                 Between 16 and 30 days                       $100,000                   0.90
                 Between 31 and 45 days                        $80,000                   0.85
                 Between 46 and 60 days                        $40,000                   0.80
                 Between 61 and 75 days                        $20,000                   0.55
                 Over 75 days                                  $15,000                   0.00

Instructions:
(a) What is the appropriate balance for the Allowance for Doubtful Accounts at the year-end?

         Days Account Outstanding                Amount       Probability of Collection    Doubtful Accts:
Less than 16 days                                $300,000               0.98                      Formula
Between 16 and 30 days                            100,000               0.90                      Formula
Between 31 and 45 days                             80,000               0.85                      Formula
Between 46 and 60 days                             40,000               0.80                      Formula
Between 61 and 75 days                             20,000               0.55                      Formula
Over 75 days                                       15,000               0.00                      Formula
                                                                                                  Formula

Enter text answer here.




(b) Show how Accounts Receivable would be presented on the balance sheet.
               Account Title                                                    Amount
               Less: Account Title                                              Amount
                 Text Title                                                                        Formula

(c) What is the dollar effect of the year-end bad debt adjustment on the before-tax income?
Enter text answer as desired here.

                 Text Title                                                                        Amount
                 Text explanation as required.
                                                                                                   Amount
                 Text Title                                                                        Formula




                                 Problem 7-3, Page 3 of 3, 8/10/2011, 2:42 PM

				
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