Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Relationships among Financial Statements Marta Communications, Inc. has provided incomplete financial statements for the month ended March 31.The Controller has asked you to help calculate

image text in transcribed
image text in transcribed
image text in transcribed
Relationships among Financial Statements Marta Communications, Inc. has provided incomplete financial statements for the month ended March 31.The Controller has asked you to help calculate the missing amounts in the incomplete financial statements. Here are some tips for using Excel Cell Reference: Allows you to refer to data from another cell in the worksheet. If you entered "=35" into a blank cell, the formula would output the value from cell B5. Basic Math Functions: Allow you to use the basic math symbols to perform mathematical functions. You can use the following keys: + (plus sign to add), - (minus sign to subtract). (asterisk sign to multiply), and / (forward stash to divide). For example, if you entered --B4+B5" in a blank cell, the formula would add the values from those cells and output the result SUM Function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges. If you entered "SUM(C4,C5,C6)" into a blank cell , the formula would output the result of adding those three separate cells. Similarly, if you entered "SUM(C4:C6)", the formula would output the same result of adding those cells. 1. Use the Open Excel in New Tab button to launch this question 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect B D D E 1 2 WN The list below shows select accounts for Reading Readiness Company as of January 31. 3 (Accounts are in alphabetical order.) 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 Accounts Payable Accounts Receivable Cash Equipment Insurance Expense Operating Expense Other Expenses Other Revenues Rent Expense Salaries Expense Short-term Notes Payable Test Prep Revenue Tutoring Revenue Unearned Revenue $8,088 6,960 13,445 4,800 1,350 11,800 3,482 6,050 4,800 6,882 17,200 15,400 9,100 1,046 B D E F H 1 G 16 Test Prep Revenue 15,400 17 Tutoring Revenue 9,100 18 Unearned Revenue 1,046 19 20 Required: 21 Prepare an Income Statement for the month ended January 31. Use celi references references to select account titles and amounts 22 to be included on the income statement. 23 24 (Use cells A5 to B18 from the given information to complete this question. All formulas must return positive values.) 25 26 READING READINESS Company 27 Income Statement 28 For the Month Ended January 31 29 Revenues: 30 31 32 33 Total Revenues 34 Expenses: 35 36 37 38 39 40 Total Expenses 41 42

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

Research On Professional Responsibility And Ethics In Accounting Volume 24

Authors: Charles Richard Baker

1st Edition

180071758X, 9781800717589

More Books

Students also viewed these Accounting questions