Excel File Edit View Insert Format Tools Data Window Help 14%O Sun 7:13 PM a Ch 1 Excel Activity Q V Hon Insert Page Layout Formulas Data Review View Share fx E- ? A o le V Define Name Ifx Calculate Now , EyTrace Precedents Sa Trace Dependents Show Error FRemove Arrows Formulas Checking Insert Function PutoSum Recently Financial Logical Used Text Date & Lookup & Math & Time Reference Trig More Functions Create from Selection Calculation Calculate Sheet Options Activate E 1 K L N 0 P Subscription Required to edit and Save Start your free one month trial of Microsoft 365 or sign in to activate an existing subscription. E6 X fc Record the appropriate amounts in the business activities as absolute values (positive amounts only). A B D F H J 1 Name 2 Excel Instructions Problem Instructions ONLY use cell referencing and formulas, do not type amounts! In the accounting equation record decreases as negative and increases as positive. 4 Using cell referencing only, report amounts in the appropriate columns Remember, it is possible for transactions to increase and decrease the same side of the accounting equation. 5 Using formulas only, create totals In the income statement, record the appropriate amounts as positive or negative. 6 Record the appropriate amounts in the business activities as absolute values (positive amounts only). 3 7 Income Statement Business Activities 8 Transaction Amount Net Income Operating Activities Investing Activities 9 Financing Activities 8,000 6,000 (1,250) (10,000) (525) (3,000) Accounting Equation and Balance Sheet Total Total Total Assets Liabilities Equity 8,000 - 8,000 6,000 6,000 (1,250) (1,250) (10,000) 525 525 (3,000) (3,000) (2,750) (2,750) (150) (525) (525) 1,500 1,500 (2,000) (2,000) 1,500 1,500 7,850 7.850 10 Owner invests cash in business 11 Client pays cash for services completed 12 Pays cash for employee wages 13 Buys of equipment with a note payable 14 Purchases of supplies on account 15 Pays rent for the current month 16 Buys equipment for cash 17 Writes a check for the month's utilities (pays cash) 18 Pays on accounts payable 19 Provides services on account 20 Owner withdraws cash 21 Collects cash on accounts receivable 22 Totals 6,000 (1,250) (10,000) (525) (3,000) $8,000 $6,000 $1,250 $10,000 $525 $3,000 $2.750 $150 $525 $1,500 $2,000 $1,500 $37,200 (2,750) (150) (150) (150) (525) 1,500 (525) (2,000) 1,500 1,500 23 24 Total Assets 25 Total Liabilities and Equity 26 27 Net Income 28 Problem + Ready Circular References: E10 + 119% OCT 32 45 11 & C A X