Ms$.$ Taylor: the Senior Accountant of your Division is preparing the financial statements of the Hospital where you work as the Head of Clinical Operations. The deadline is fast approaching. In the lunch room, you overheard her telling a colleague that she has been overwhelmed and that she might have to miss the deadline. Knowing that that might not reflect well on your Division, you offered to assist her. She quickly jumped at the offer and provided you with the following information relating to staff salary.

The average starting salary is $$60,000.$ Benefits are $25\%$ this year. They expect benefits to go up to $27\%$ next year. They are expecting to give a raise of $5\%$ next year. The Hospital has $20$ employees.

You are required to:

Compute a formatted Excel Spreadsheet for the Hospital showing the $($i$)$ Total Salary, and $($ii$)$ Total Staff Expense.

Given your competency in the use of Excel spreadsheets, you assured her that you will provide the accounting numbers within a short time frame. Excited about your promise to promptly deliver the output, Ms$.$ Taylor wants you to answer the following questions in addition to the $(1)$ above.

$2.$ What is a spreadsheet and what is the main benefit of electronic spreadsheets?

$3.$ What convention does Excel follow when doing computations?Ms$.$ Taylor: the Senior Accountant of your Division is preparing the financial statements of the Hospital where you work as the Head of Clinical Operations. The deadline is fast approaching. In the lunch room, you overheard her telling a colleague that she has been overwhelmed and that she might have to miss the deadline. Knowing that that might not reflect well on your Division, you offered to assist her. She quickly jumped at the offer and provided you with the following information relating to staff salary.

The average starting salary is $$60,000.$ Benefits are $25\%$ this year. They expect benefits to go up to $27\%$ next year. They are expecting to give a raise of $5\%$ next year. The Hospital has $20$ employees.

You are required to:

Compute a formatted Excel Spreadsheet for the Hospital showing the $($i$)$ Total Salary, and $($ii$)$ Total Staff Expense.

Given your competency in the use of Excel spreadsheets, you assured her that you will provide the accounting numbers within a short time frame. Excited about your promise to promptly deliver the output, Ms$.$ Taylor wants you to answer the following questions in addition to the $(1)$ above.

$2.$ What is a spreadsheet and what is the main benefit of electronic spreadsheets?

$3.$ What convention does Excel follow when doing computations?