****excell needs to be compleated to answer the multiple choice***
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. .. This project only has one attempt. Review the check figures with your data file results before answering the questions. If your check figures do not match, do not proceed with answering the questions until you have asked for assistance from your instructor. Using your Excel worksheet, what would the accounting equation for MyMenu Food Delivery be as of January 31, 2020? O A. $12,438 = $9,860 + $2,578 O B. $5,295 = $783 + $4,512 O C. $2,578 = $1,850 + $783 - $55 OD. $783 = $5,295 - $4,512 Which of the following items are assets? (Select all that apply.) O A. Common stock B. Dividends O C. Service revenue E. Miscellaneous expense O G. Interest expense 1. Advertising expense OD. Automobile expense OF Retained earnings OH. Long-term loan payable DJ. Cash What accounts affect equity in the accounting equation? (Hint: These are the accounts you used for Requirement 3.f.) (Select all that apply.) B. Miscellaneous expense OD. Automobile expense A. Long-term loan payable O C. Interest expense E. Dividends O G. Common stock II. Retained earnings OF Service revenue D H. Cash J. Advertising expense Did MyMenu Food Delivery have a profitable month? How do you know? O A. No, because MyMenu Food Delivery has an outstanding liability balance. OB. Yes, because net income is positive OC. No, because net income is negative. O D. Yes, because MyMenu Food Delivery was able to pay a dividend. Using your Excel worksheet, what is the amount that MyMenu Food Delivery owes as of January 31, 2020? O A. $4,512 OB. $55 O C. $1,850 OD. $9,860 What was MyMenu Food Delivery's smallest total expense for January? O A. Automobile expense OB. Interest expense OC. Miscellaneous expense OD. Advertising expense - Requirements d. Widen Column B to 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. 3 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 3. Calculate the following items using formulas in Excel lumn headings (Cells C1 through L1) and determine the following account classifications: Asset, Liability, Equity, Revenue, and Expense. Total assets as of January 31, 2020 (put formula in Cell C85) c. Revenues for the month b. Total liabilities as of January 31 20 put formula in Cell C84) 100 the month ending January 31, 2020 (put formula in Cell C89) d. Expenses fort 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) January 31, 2020 (put formula in Cell C86) Hint Equity will be Common Stock + Retained Earnings + Net income - Dividends 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? d. Did MyMenu Food Delivery have a profitable month? How do you know? e. What is the total amount that MyMenu Food Delivery owes as of January 31, 2020? f. What was MyMenu Food Delivery's largest total expense for January? f. Equity as will be Print Done Check figures Requirement 1 Cell L82 Requirement 2 Cell C86 Requirement 3 Cell C89 Requirement 4 Cell 182 $310 $2.578 $5,295 $2,325 Print Done A B L M N O o R S T U V w X Y Miscellaneous expense 210 45 1 Date Transaction description 2 1/1/2020 Issued common stock for cash 3 1/1/2020 Paid monthly car lease payment 4 1/1/2020 Issued common stock for cash 5 1/2/2020 Purchased insulated delivery bags 6 1/2/2020 Took out a cash loan, 5 years, 7% interest 7 1/2/2020 Earned delivery service fees 8 1/3/2020 Earned delivery service fees 9 1/3/2020 Paid for flyer copying costs 10 1/4/2020 Paid for logo design services 11 1/4/2020 Earned delivery service fees 12 1/5/2020 Filled up car with gas 13 1/5/2020 Refunded a customer for late meal 14 1/5/2020 Paid for cash wash 15 1/5/2020 Earned delivery service fees 16 1/6/2020 Filled up car with gas 17 1/6/2020 Paid for weekly advertising costs 18 1/6/2020 Paid for advertising 19 1/6/2020 Earned delivery service fees 20 1/7/2020 Earned delivery service fees 21 1/7/2020 Filled up car with gas 22 1/8/2020 Filled up car with gas 23 1/8/2020 Earned delivery service fees 24 1/9/2020 Earned delivery service fees 25 1/9/2020 Filled up car with gas 26 1/10/2020 Filled up car with gas 27 1/10/2020 Earned delivery service fees 28 1/11/2020 Earned delivery service fees 29 1/11/2020 Filled up car with gas 30 1/12/2020 Paid for cash wash 31 1/12/2020 Earned delivery service fees 32 1/12/2020 Filled up car with gas 33 1/13/2020 Earned delivery service fees 34 1/13/2020 Paid for weekly advertising costs 35 1/13/2020 Filled up car with gas Case FA-3001 transactions DATA D E F G H 1 J Long- term Advertisi loan Common Retained Dividend Service ng Automobil Cash payable stock earnings s revenue expense e expense 1,400 1,400 -580 580 450 450 -210 10,000 10,000 145 145 160 160 -113 113 -410 410 255 255 -35 35 -45 -17 17 205 205 -39 39 -260 260 -410 410 140 140 155 155 -45 45 -47 47 170 170 185 185 -46 46 -31 31 185 185 210 210 -35 35 -17 17 210 210 -42 42 120 120 -245 245 -47 47 D E F. G H J L M N o P Q R S T U V w Y ZA 36 36 37 -36 150 155 -40 -36 150 155 38 39 40 40 36 41 165 165 175 42 175 43 31 44 33 -31 -33 235 -39 45 235 46 39 47 210 48 17 49 278 50 125 43 51 52 53 36 150 54 145 55 A B 1/14/2020 Filled up car with gas 1/14/2020 Earned delivery service fees 1/15/2020 Earned delivery service fees 1/15/2020 Filled up car with gas 1/16/2020 Filled up car with gas 1/16/2020 Earned delivery service fees 1/17/2020 Earned delivery service fees 1/17/2020 Filled up car with gas 1/18/2020 Filled up car with gas 1/18/2020 Earned delivery service fees 1/19/2020 Filled up car with gas 1/19/2020 Earned delivery service fees 1/19/2020 Paid for cash wash 1/20/2020 Paid for weekly advertising costs 1/20/2020 Earned delivery service fees 1/20/2020 Filled up car with gas 1/21/2020 Filled up car with gas 1/21/2020 Earned delivery service fees 1/22/2020 Earned delivery service fees 1/22/2020 Filled up car with gas 1/23/2020 Filled up car with gas 1/23/2020 Earned delivery service fees 1/24/2020 Gave cash to booster club fundraiser 1/24/2020 Filled up car with gas 1/24/2020 Earned delivery service fees 1/25/2020 Paid for car tire repair 1/25/2020 Filled up car with gas 1/25/2020 Earned delivery service fees 1/26/2020 Filled up car with gas 1/26/2020 Paid for cash wash 1/26/2020 Earned delivery service fees 1/27/2020 Paid for weekly advertising costs 1/27/2020 Earned delivery service fees 1/27/2020 Filled up car with gas 1/28/2020 Filled up car with gas 1/28/2020 Earned delivery service fees 1/29/2020 Earned delivery service fees 1/29/2020 Filled up car with gas Case FA-3001 transactions DATA 40 56 36 170 57 58 210 -17 -278 125 -43 -36 150 145 -40 -36 170 -55 -30 180 -27 -43 240 -40 -17 200 -299 165 -42 55 59 30 180 60 61 27 62 43 63 240 64 40 65 17 66 200 67 299 165 68 69 42 70 -45 45 71 160 175 -42 160 175 72 73 42 Ready E 100% 190 190 74 75 310 76 34 -310 -34 -198 -46 77 - 140 1/30/2020 Earned delivery service fees 1/30/2020 Paid monthly app service charge 1/30/2020 Filled up car with gas 1/31/2020 Made monthly loan payment 1/31/2020 Filled up car with gas 1/31/2020 Paid for car oil change 1/31/2020 Paid cash dividend to shareholder 1/31/2020 Earned delivery service fees 58 78 46 79 -85 85 80 -55 55 81 165 165 82 83 84 85 Assets Liabilities Equity Total liabilities and equity 86 87 88 89 90 Revenues Expenses Net income 91 Case FA-3001 transactions DATA 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. .. This project only has one attempt. Review the check figures with your data file results before answering the questions. If your check figures do not match, do not proceed with answering the questions until you have asked for assistance from your instructor. Using your Excel worksheet, what would the accounting equation for MyMenu Food Delivery be as of January 31, 2020? O A. $12,438 = $9,860 + $2,578 O B. $5,295 = $783 + $4,512 O C. $2,578 = $1,850 + $783 - $55 OD. $783 = $5,295 - $4,512 Which of the following items are assets? (Select all that apply.) O A. Common stock B. Dividends O C. Service revenue E. Miscellaneous expense O G. Interest expense 1. Advertising expense OD. Automobile expense OF Retained earnings OH. Long-term loan payable DJ. Cash What accounts affect equity in the accounting equation? (Hint: These are the accounts you used for Requirement 3.f.) (Select all that apply.) B. Miscellaneous expense OD. Automobile expense A. Long-term loan payable O C. Interest expense E. Dividends O G. Common stock II. Retained earnings OF Service revenue D H. Cash J. Advertising expense Did MyMenu Food Delivery have a profitable month? How do you know? O A. No, because MyMenu Food Delivery has an outstanding liability balance. OB. Yes, because net income is positive OC. No, because net income is negative. O D. Yes, because MyMenu Food Delivery was able to pay a dividend. Using your Excel worksheet, what is the amount that MyMenu Food Delivery owes as of January 31, 2020? O A. $4,512 OB. $55 O C. $1,850 OD. $9,860 What was MyMenu Food Delivery's smallest total expense for January? O A. Automobile expense OB. Interest expense OC. Miscellaneous expense OD. Advertising expense - Requirements d. Widen Column B to 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. 3 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 3. Calculate the following items using formulas in Excel lumn headings (Cells C1 through L1) and determine the following account classifications: Asset, Liability, Equity, Revenue, and Expense. Total assets as of January 31, 2020 (put formula in Cell C85) c. Revenues for the month b. Total liabilities as of January 31 20 put formula in Cell C84) 100 the month ending January 31, 2020 (put formula in Cell C89) d. Expenses fort 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) January 31, 2020 (put formula in Cell C86) Hint Equity will be Common Stock + Retained Earnings + Net income - Dividends 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? d. Did MyMenu Food Delivery have a profitable month? How do you know? e. What is the total amount that MyMenu Food Delivery owes as of January 31, 2020? f. What was MyMenu Food Delivery's largest total expense for January? f. Equity as will be Print Done Check figures Requirement 1 Cell L82 Requirement 2 Cell C86 Requirement 3 Cell C89 Requirement 4 Cell 182 $310 $2.578 $5,295 $2,325 Print Done A B L M N O o R S T U V w X Y Miscellaneous expense 210 45 1 Date Transaction description 2 1/1/2020 Issued common stock for cash 3 1/1/2020 Paid monthly car lease payment 4 1/1/2020 Issued common stock for cash 5 1/2/2020 Purchased insulated delivery bags 6 1/2/2020 Took out a cash loan, 5 years, 7% interest 7 1/2/2020 Earned delivery service fees 8 1/3/2020 Earned delivery service fees 9 1/3/2020 Paid for flyer copying costs 10 1/4/2020 Paid for logo design services 11 1/4/2020 Earned delivery service fees 12 1/5/2020 Filled up car with gas 13 1/5/2020 Refunded a customer for late meal 14 1/5/2020 Paid for cash wash 15 1/5/2020 Earned delivery service fees 16 1/6/2020 Filled up car with gas 17 1/6/2020 Paid for weekly advertising costs 18 1/6/2020 Paid for advertising 19 1/6/2020 Earned delivery service fees 20 1/7/2020 Earned delivery service fees 21 1/7/2020 Filled up car with gas 22 1/8/2020 Filled up car with gas 23 1/8/2020 Earned delivery service fees 24 1/9/2020 Earned delivery service fees 25 1/9/2020 Filled up car with gas 26 1/10/2020 Filled up car with gas 27 1/10/2020 Earned delivery service fees 28 1/11/2020 Earned delivery service fees 29 1/11/2020 Filled up car with gas 30 1/12/2020 Paid for cash wash 31 1/12/2020 Earned delivery service fees 32 1/12/2020 Filled up car with gas 33 1/13/2020 Earned delivery service fees 34 1/13/2020 Paid for weekly advertising costs 35 1/13/2020 Filled up car with gas Case FA-3001 transactions DATA D E F G H 1 J Long- term Advertisi loan Common Retained Dividend Service ng Automobil Cash payable stock earnings s revenue expense e expense 1,400 1,400 -580 580 450 450 -210 10,000 10,000 145 145 160 160 -113 113 -410 410 255 255 -35 35 -45 -17 17 205 205 -39 39 -260 260 -410 410 140 140 155 155 -45 45 -47 47 170 170 185 185 -46 46 -31 31 185 185 210 210 -35 35 -17 17 210 210 -42 42 120 120 -245 245 -47 47 D E F. G H J L M N o P Q R S T U V w Y ZA 36 36 37 -36 150 155 -40 -36 150 155 38 39 40 40 36 41 165 165 175 42 175 43 31 44 33 -31 -33 235 -39 45 235 46 39 47 210 48 17 49 278 50 125 43 51 52 53 36 150 54 145 55 A B 1/14/2020 Filled up car with gas 1/14/2020 Earned delivery service fees 1/15/2020 Earned delivery service fees 1/15/2020 Filled up car with gas 1/16/2020 Filled up car with gas 1/16/2020 Earned delivery service fees 1/17/2020 Earned delivery service fees 1/17/2020 Filled up car with gas 1/18/2020 Filled up car with gas 1/18/2020 Earned delivery service fees 1/19/2020 Filled up car with gas 1/19/2020 Earned delivery service fees 1/19/2020 Paid for cash wash 1/20/2020 Paid for weekly advertising costs 1/20/2020 Earned delivery service fees 1/20/2020 Filled up car with gas 1/21/2020 Filled up car with gas 1/21/2020 Earned delivery service fees 1/22/2020 Earned delivery service fees 1/22/2020 Filled up car with gas 1/23/2020 Filled up car with gas 1/23/2020 Earned delivery service fees 1/24/2020 Gave cash to booster club fundraiser 1/24/2020 Filled up car with gas 1/24/2020 Earned delivery service fees 1/25/2020 Paid for car tire repair 1/25/2020 Filled up car with gas 1/25/2020 Earned delivery service fees 1/26/2020 Filled up car with gas 1/26/2020 Paid for cash wash 1/26/2020 Earned delivery service fees 1/27/2020 Paid for weekly advertising costs 1/27/2020 Earned delivery service fees 1/27/2020 Filled up car with gas 1/28/2020 Filled up car with gas 1/28/2020 Earned delivery service fees 1/29/2020 Earned delivery service fees 1/29/2020 Filled up car with gas Case FA-3001 transactions DATA 40 56 36 170 57 58 210 -17 -278 125 -43 -36 150 145 -40 -36 170 -55 -30 180 -27 -43 240 -40 -17 200 -299 165 -42 55 59 30 180 60 61 27 62 43 63 240 64 40 65 17 66 200 67 299 165 68 69 42 70 -45 45 71 160 175 -42 160 175 72 73 42 Ready E 100% 190 190 74 75 310 76 34 -310 -34 -198 -46 77 - 140 1/30/2020 Earned delivery service fees 1/30/2020 Paid monthly app service charge 1/30/2020 Filled up car with gas 1/31/2020 Made monthly loan payment 1/31/2020 Filled up car with gas 1/31/2020 Paid for car oil change 1/31/2020 Paid cash dividend to shareholder 1/31/2020 Earned delivery service fees 58 78 46 79 -85 85 80 -55 55 81 165 165 82 83 84 85 Assets Liabilities Equity Total liabilities and equity 86 87 88 89 90 Revenues Expenses Net income 91 Case FA-3001 transactions DATA
