i need help with excel homework

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Wade Company use the Gross Profit method to estimates the cost of its physical inventory at March 31 for use in an interim financial statement. The following account balances are available:

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Company A and B exchange assets with the indicated values. Build a worksheet that records the journal entries required on the books of each company, if the exchnage has commercial substance, and if it lacks commercial substance. You will need to incorporate if statements in your worksheet. Test your worksheet for various exchange scenarios!

Instructions Spring Complete the following three worksheet tabs to calculate lower of cost or market inventory valuation, and to value inventory using Dollar Value Lifo and Gross Profit methods. Link the yellow output/caculation cells to the green input cells, and test your worksheet with various values. valuation, and to value n cells to the green Lower of Cost or Market YouTube Video: Excel's IF, MIN, and Max Functions: http://youtu.be/SlHYpmD2n3E YouTube Video: Logic for LCM Calculations: https://youtu.be/uyMvgo9OcDU Inventory cost Replacement cost Disposal cost Normal selling price Normal profit (% of selling price) $ $ $ $ $ 8.00 13.00 1.00 15.00 25% NRV-Normal Replacement NRV Profit Cost Cost Ceiling Floor 8.00 $ 13.00 $ 14.00 $ 10.25 Intermediate Calculations Designated Market Final Inventory Value Ceiling Some Check Figures! Intermediate Calculations Floor ck Figures! These cells are not required, but may be helpful in breaking down your calculation of the DESIGNATED MARKET value into more managable calculations. Dollar Value LIFO YouTube Video: Excel's IF, MIN, and Max Functions: http://youtu.be/SlHYpmD2n3E YouTube Video: Logic for Dollar Value LIFO Calculations: https://youtu.be/S8NiliJFDWQ Inventory End of Year Prices 2010 $ 200,000 2011 150,000 2012 100,000 2013 351,000 Price Index (%) 100% 115% 120% 130% 2011 Ending Inventory Base Year Prices 2010 2011 2012 Ending Inventory Base Year Prices 2010 2011 2012 2013 Ending Inventory Base Year Prices 2010 2011 2012 2013 Convert to base prices CHECK FIGURES Required Allowance Gross Profit Inventory Valuation Wade Company use the Gross Profit method to estimates the cost of its physical inventory at March 31 for use in an interim financial statement. The following account balances are available: The rate of markup on cost is 35%. Inventory, March 1 Purchases during March Purchase returns Purchase discounts Freight-in Sales during March Sales returns The estimated cost of inventory at March 31 would be: 35% 624,000 700,000 36,000 10,000 7,000 1,400,000 20,000 al inventory at March 31 for ble: A mark up on costs of 35% means: Sales COGS Gross Profit $1.35 1.00 $ 0.35 Excel - Chapter 10 Instructions Spring In this assignment you will build worksheets to prepare journal entries for nonmonetary exchanges, and to calculate capitalized construction period interest for selfconstructed assets. Be sure to link yellow answer field s to the green input fields, and test your worksheet for various inputs. Here are some additional input combinations to try for your Non-Monetary Exchange worksheet. Exchange worksheet. Non-Monetary Exchanges Company A and B exchange assets with the indicated values. Build a worksheet that records the journal entries the exchnage has commercial substance, and if it lacks commercial substance. You will need to incorporate if sta worksheet for various exchange scenarios! Original Cost Accumulated Depreciation Fair Value of Equipment Received Cash Received Cash Paid Company A Company B $ 60,000 $ 110,000 30,000 50,000 45,000 55,000 5,000 Be sure to include cash! Calculation of Gain or (Loss) Total fair value received Net book value given up Gain/(Loss) Without regard to cash paid or receieved the transaction has commercial substance. Journal Entries Company A Loss Cash New Equipment Accumulated Depreciation Old Equipment Cash Gain Journal Entries Company B Loss Cash New Equipment Accumulated Depreciation Old Equipment Cash Gain et that records the journal entries required on the books of each company, if You will need to incorporate if statements in your worksheet. Test your YouTube Video: http://youtu.be/pMAKV9RHw7A Without regard to cash paid or receieved the transaction lacks commercial substance. Difference in BV of new equipment Deferred Gain Difference in BV of new equipment Deferred Gain Journal Entries Company A Loss Cash New Equipment Accumulated Depreciation Old Equipment Cash Gain Journal Entries Company B Loss Cash New Equipment Accumulated Depreciation Old Equipment Cash Gain mercial substance. Here are some check figures you can use to test your worksh st your worksheet. Date Construction Completed Date January 1, 2013 $ April 30, 2013 November 1, 2013 December 31, 2013 Actual Expenditures 100,000 150,000 300,000 100,000 Debt Specific Debt General Debt Accumulated Expenditures $ 200,000 500,000 300,000 Interest Rate December 31, 2013 Capitalization Period (Months) Interest Rate 12.0% 14.0% 10.0% Avoidable Interest Weighted Average Accumulated Expenditures Actual Interest In Excel you can subtract two dates number of days between two dates. Divided the number of days by 30 to approximate number of months, and Excel's ROUND function to round to whole month. Excel you can subtract two dates to find the mber of days between two dates. ided the number of days by 30 to get an proximate number of months, and use cel's ROUND function to round to the nearest ole month