Check figures The steps you will follow for this project are as follows: Using your Excel worksheet, what would the accounting equation for MyMenu Food Delivery be as of January 31,2020? A. $5,295=$783+$4,512 B. $12,438=$9,860+$2,578 C. $2,578=$1,850+$783$55 D. $783=$5,295$4,512 Which of the following items are assets? (Select all that apply.) B. Longterm loan payable A. Interest expense D. Common stock C. Miscellaneous expense F. Automobile expense E. Advertising expense H. Retained earrings G. Service revenue 1. Cash What accounts affect equity in the accounting equation? (Hint: These are the accounts you used for Requirement 3.f ) (Select all that apphy. A. Advertising expense C. Service revenue B. Retained eamings D. Interest expense E. Miscellaneous expense F. Dividends G. Automobile expense H. Cash 1. Common stock J. Long-term loan payable Did MyMenu Food Delivery have a profitable month? How do you know? A. No, because net income is negative. B. No, because MyMenu Food Delivery has an outstanding liablity balance. C. Yes, because net income is positive. D. Yes, because MyMenu Food Delivery was able to pay a dividend. Using your Excel worksheet, what are the total expenses for MyMenu Food Delivery as of January 31, 2020? A. $1,850 B. $55 C. $4,512 D. $9,860 What was MyMenu Food Delivery's largest total expense for January? A. Interest expense B. Automobile expense c. Miscellaneous expense D. Advertising expense The steps you will follow for this project are as follows: 1) Review the video on how to complete this assignment. 2) Download the Excel data file. (After you download the file, YOU NEED TO "SAVE" YOUR ASSIGNMENT BY CLICKING THE SAVE BUTTON IN THE UPPER RIGHT HAND CORNER BEFORE YOU EXIT. If you do not save your assignment, the next time you enter, you may see a different company and set of data.) 3) Perform the requirements on the data file. 4) Check your work in the Excel file with these check figures. 5) Use your Excel file to answer the six multiple choice questions below. (You will have to scroll down to see all of the questions.) Resources A) Information on how to update Excel and Office 365 . B) If you do not have Office 365 , click here to learn how to get it for free. C) Troubleshooting FAQ. Requirements for the Excel analysis 1. In the Excel transactions file, perform the following tasks: a. Wrap the text in the headings (Row 1 ) to fit the column cells. b. Make the column headings bold. c. Widen Column A to be the width of the longest date in that column. d. Widen Column B to be the width of the longest description in that column. e. Use the SUM function (Windows link | Mac link) to total Columns C through L in Row 82. f. Put a single underline above and a double underline below the sums. 2. Review each account in the column headings (Cells C1 through L1) and determine the following account classifications: Asset, Liability, Equity, Revenue, and Expense. 3. Calculate the following items using formulas in Excel: a. Total assets as of January 31, 2020 (put formula in Cell C84) b. Total liabilities as of January 31, 2020 (put formula in Cell C85) c. Revenues for the month ending January 31, 2020 (put formula in Cell C89) d. Expenses for the month ending January 31, 2020 (put formula in Cell C90) e. Net income for the month ending January 31, 2020 (put formula in Cell C91) f. Equity as of January 31, 2020 (put formula in Cell C86) Hint: Equity will be Common Stock + Retained Earnings + Net income - Dividends g. Total liabilities and equity as of January 31, 2020 (put formula in Cell C87) 4. Using your Excel worksheet and your answers to Requirement 2, answer the following questions: a. What would the accounting equation for MyMenu Food Delivery be as of January 31, 2020? b. What accounts would be found on MyMenu Food Delivery's balance sheet as of January 31,2020 ? c. What accounts would be found on MyMenu Food Delivery's income statement for the month ended January 31, 2020? Check figures The steps you will follow for this project are as follows: Using your Excel worksheet, what would the accounting equation for MyMenu Food Delivery be as of January 31,2020? A. $5,295=$783+$4,512 B. $12,438=$9,860+$2,578 C. $2,578=$1,850+$783$55 D. $783=$5,295$4,512 Which of the following items are assets? (Select all that apply.) B. Longterm loan payable A. Interest expense D. Common stock C. Miscellaneous expense F. Automobile expense E. Advertising expense H. Retained earrings G. Service revenue 1. Cash What accounts affect equity in the accounting equation? (Hint: These are the accounts you used for Requirement 3.f ) (Select all that apphy. A. Advertising expense C. Service revenue B. Retained eamings D. Interest expense E. Miscellaneous expense F. Dividends G. Automobile expense H. Cash 1. Common stock J. Long-term loan payable Did MyMenu Food Delivery have a profitable month? How do you know? A. No, because net income is negative. B. No, because MyMenu Food Delivery has an outstanding liablity balance. C. Yes, because net income is positive. D. Yes, because MyMenu Food Delivery was able to pay a dividend. Using your Excel worksheet, what are the total expenses for MyMenu Food Delivery as of January 31, 2020? A. $1,850 B. $55 C. $4,512 D. $9,860 What was MyMenu Food Delivery's largest total expense for January? A. Interest expense B. Automobile expense c. Miscellaneous expense D. Advertising expense The steps you will follow for this project are as follows: 1) Review the video on how to complete this assignment. 2) Download the Excel data file. (After you download the file, YOU NEED TO "SAVE" YOUR ASSIGNMENT BY CLICKING THE SAVE BUTTON IN THE UPPER RIGHT HAND CORNER BEFORE YOU EXIT. If you do not save your assignment, the next time you enter, you may see a different company and set of data.) 3) Perform the requirements on the data file. 4) Check your work in the Excel file with these check figures. 5) Use your Excel file to answer the six multiple choice questions below. (You will have to scroll down to see all of the questions.) Resources A) Information on how to update Excel and Office 365 . B) If you do not have Office 365 , click here to learn how to get it for free. C) Troubleshooting FAQ. Requirements for the Excel analysis 1. In the Excel transactions file, perform the following tasks: a. Wrap the text in the headings (Row 1 ) to fit the column cells. b. Make the column headings bold. c. Widen Column A to be the width of the longest date in that column. d. Widen Column B to be the width of the longest description in that column. e. Use the SUM function (Windows link | Mac link) to total Columns C through L in Row 82. f. Put a single underline above and a double underline below the sums. 2. Review each account in the column headings (Cells C1 through L1) and determine the following account classifications: Asset, Liability, Equity, Revenue, and Expense. 3. Calculate the following items using formulas in Excel: a. Total assets as of January 31, 2020 (put formula in Cell C84) b. Total liabilities as of January 31, 2020 (put formula in Cell C85) c. Revenues for the month ending January 31, 2020 (put formula in Cell C89) d. Expenses for the month ending January 31, 2020 (put formula in Cell C90) e. Net income for the month ending January 31, 2020 (put formula in Cell C91) f. Equity as of January 31, 2020 (put formula in Cell C86) Hint: Equity will be Common Stock + Retained Earnings + Net income - Dividends g. Total liabilities and equity as of January 31, 2020 (put formula in Cell C87) 4. Using your Excel worksheet and your answers to Requirement 2, answer the following questions: a. What would the accounting equation for MyMenu Food Delivery be as of January 31, 2020? b. What accounts would be found on MyMenu Food Delivery's balance sheet as of January 31,2020 ? c. What accounts would be found on MyMenu Food Delivery's income statement for the month ended January 31, 2020