kindly show the cell name used in getting the answers.
10. Adjusting for accounting errors, omissions, and expense analysis Unfortunately, you are not finished yet. Use "Save as" tab to save a copy of your base file as "Adjusted file" before attempting this section. Your basic financial model is complete, but it must be modified for extra data and errors. The company's accountant has discovered the following error. In the "Adjusted file", insert rows at appropriate places for any omission or include correct figure where it is incorrect in the Data sheet to make the following adjustments as needed: (i) The accountant did not account for the environmental emission fees due on the company's use of factory utility. The fees are equal to 20% of annual factory utilities and should be reported as a separate factory overhead cost. You should modify your Data sheet to include this extra factory overhead and allow for the \% change to be modified in future years. Do not hard code this expense amount or add itet it off against the $45,000 of factory utilities for 20Y2. (ii) The following costs, expenses, and revenues were omitted or not recorded correctly in the original Data sheet and hence, must be included/amended in your Adjusted Data sheet in the appropriate place: a. Advertising expense was understated by $8,000. b. SPS is required to undertake proper disposal of its manufacturing waste under the state environmental protection authority. It was charged $32,000 for using the service of EarthFriend Inc. for safe waste disposal during the year. This safe factory waste disposal cost was omitted mistakenly while computing factory overhead costs for the year. c. Interest expense was overstated by $15,000. d. The amount of revenue provided in the data sheet does not account for the bad debt expense of $30,000. (iii) The accountant wishes you to provide an analysis of the company's annual operating expenses. Add an extra worksheet called "Expense analysis", and add your 20Y2 data next to the existing 20Y1 data in the format shown below: 10. Adjusting for accounting errors, omissions, and expense analysis Unfortunately, you are not finished yet. Use "Save as" tab to save a copy of your base file as "Adjusted file" before attempting this section. Your basic financial model is complete, but it must be modified for extra data and errors. The company's accountant has discovered the following error. In the "Adjusted file", insert rows at appropriate places for any omission or include correct figure where it is incorrect in the Data sheet to make the following adjustments as needed: (i) The accountant did not account for the environmental emission fees due on the company's use of factory utility. The fees are equal to 20% of annual factory utilities and should be reported as a separate factory overhead cost. You should modify your Data sheet to include this extra factory overhead and allow for the \% change to be modified in future years. Do not hard code this expense amount or add itet it off against the $45,000 of factory utilities for 20Y2. (ii) The following costs, expenses, and revenues were omitted or not recorded correctly in the original Data sheet and hence, must be included/amended in your Adjusted Data sheet in the appropriate place: a. Advertising expense was understated by $8,000. b. SPS is required to undertake proper disposal of its manufacturing waste under the state environmental protection authority. It was charged $32,000 for using the service of EarthFriend Inc. for safe waste disposal during the year. This safe factory waste disposal cost was omitted mistakenly while computing factory overhead costs for the year. c. Interest expense was overstated by $15,000. d. The amount of revenue provided in the data sheet does not account for the bad debt expense of $30,000. (iii) The accountant wishes you to provide an analysis of the company's annual operating expenses. Add an extra worksheet called "Expense analysis", and add your 20Y2 data next to the existing 20Y1 data in the format shown below
