Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Oklahoma State University Spears School of Business* ACCT3603 - Accounting Information Systems* Excel Project* Spring 2019 - Hargrove* You are an accountant in the Controller's

image text in transcribed
Oklahoma State University Spears School of Business* ACCT3603 - Accounting Information Systems* Excel Project* Spring 2019 - Hargrove* You are an accountant in the Controller's Office of Cotulu Enterprises , Inc . which provides trinkets to large and small gift shops nationwide . The controller asks you to complete an accounts receivable aging* report that will be used as part of the year - end audit process . You are directed to prepare the report using the data provided to you in a text file .* The aging is based on days outstanding as of 07 / 31 / 2016 because that's when the fiscal year ends . Cotull's payment policy is net 30 days ; all invoices Issued during December are considered " Current " Invoices are classified based on the number of days past the original due date of the Invoice . Use the example in Figure & of" The Revenue Cycle " chapter as your model , Including the column titles* as the categories for classification . Although you might be able to prepare the report by looking at each Individual invoice and classifying it appropriately it provided enough time , there are way too many* outstanding invoices at year-end for a company of this size (also , calculating the aging manually wil! automatically result in zero points for this assignment . ! Therefore , you need to figure out commands and functions in Excel that will allow you to automate the aging classification as much as possible . The* goal should be to find a way for Excel to automatically classify the first Invoice based on the Invoice date* It the functions and commands for the first Invoice work correctly , then you should be able to copy and paste the commands to the remaining invoice rows without flaws . Last , for this assignment , do not use* pivot tables to create the aging . Some of the commands and functions you might need for this project are : Copy ( column , row or entire sheet !, PASTE , SORT , SUM , IF , SUBTOTAL . All of those commands and functions are available on a typical Excel toolbar and further information regarding their use can be found using Excel's Help feature* You may find it useful to use aS before a cell reference to lock the cell reference within the formula . Excel refers to this function as " relative , absolute , and mixed references ." Excel recognizes dates as a number . For Instance , " 12 / 31 / 2014" when keyed Into Excel is actually recognized as " $20.04 "` This allows you to add and subtract dates when using functions . Good Luck

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

16th Edition

1337913103, 9781337913102

More Books

Students also viewed these Accounting questions

Question

Describe the last two stages of the production process at Hershey.

Answered: 1 week ago