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Reporting Adjusted Account Balances using Excel's SUM and Basic Math Functions Maple Moving Company has provided you their unadjusted account balances to before year-end adjustments.
Reporting Adjusted Account Balances using Excel's SUM and Basic Math Functions Maple Moving Company has provided you their unadjusted account balances to before year-end adjustments. The Controller has asked you to prepare the Adjusted Trial Balance and has provided you with further year end information. Use the information included in the Excel Simulation and the Excel functions described below to complete the task. Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below, if in a blank cell, "=B11" was entered, the formula would output the result from cell B11, or 6,600 in this example. Basic Math functions: Allows 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 slash to divide). From the Excel Simulation below, if in a blank cell "=B11+B12" was entered, the formula would add the values from those cells and output the result, or 106,600 in this example. If using the other math symbols the result would output an appropriate answer for its function. SUM function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges to utilize this function. From the Excel Simulation below, if in a blank cell "=SUM(B11, B12,B13)" was entered, the formula would output the result of adding those three separate cells, or 172,600 in this example. Similarly, if in a blank cell "=SUM(B11:B13) was entered, the formula would output the same result of adding those cells, except they are expressed as a range in the formula, and the result would be 172,600 in this example. On December 31, 2016, Maple Moving Company had the following balances before year-end adjustments: 62,500 51,000 67,600 176,000 17,600 37,500 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Interest Payable Salaries Payable Deferred Revenue Notes Payable Common Stock Retained Earnings Service Revenue Salaries Expense Supplies Expense Depreciation Expense Interest Expense 6,600 100,000 66,000 23,400 167,000 61,000 Required: Use the unadjusted account balances above and the following year-end data to determine adjusted account balances and prepare an adjusted trial balance. Note: If nothing belongs in a cell, leave it blank. NOTE: After completing the adjusted trial balance, you must click through every remaining blank cell in order to receive a "complete" message when submitting. Interest owed but not yet paid: Supplies on hand: Equipment depreciation expense Unpaid salaries owed to employees Deferred revenue that has been earned 10,800 15,000 35,200 3,500 2,000 Credits MAPLE MOVING COMPANY Adjusted Trial Balance at December 31, 2016 Account Name Debits Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Interest Payable Salaries Payable Deferred Revenue Notes Payable Common Stock I Retained Earnings Service Revenue Salaries Expense Supplies Expense Depreciation Expense Interest Expense Totals
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