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To answer these questions:
U Complete ve columns on the Data worksheet: Payment amount, Interest amount year I, Carri/mg amount end year 1, Interest amount year 2, and Carrying amount end year 2. [Round your answers to the nearest whole dollar amount.) R1. Cell (32: Use a PMT function and the data in row 2 to determine the amount of the annual payment on the installment note. NOTE: The PMT function returns a negative number by default, so add a minus Sign before the function name to convert to a positive amount, such as :VPMT{A1,A2,A3). 5 D R2. Ceil H2: Entera formula that results in the amount from the rst year's payment that would be allocated to interest expense using the data in row 2. s D R3. Cell 12: Entera formula that results in the amount from the rst year's payment that would be applied to the reduction of principal using the data in row 2. s U R4. Ceil J2: Enter a formula that result: in the amount from the second year's payment that would be allocated to interest expense using the data in row.. 2. s D R5. Ceil K2: Enter a formula that results in the amount from the second year's payment that would be applied to the reduction of principal using the data in row 2. s D R6. Copy down the entries in cells GZ, H2,12,12, and K2 to all other rows with data. Steps to create a pivot table: 51. Select a cell in the data on the Data worksheet. 52. Select Insert I PivotTable. The data range will automatically be inserted. A \"Create PivotTahie" window should appear. 53. In the window, under "Choose where you want the PivotTahie report to be placed\Questions: Use the information on the Data worksheet and pivot tables, formulas, andfor functions to answer the following questions. {Round your answers to nearest whole dollar amount.) Q1. How much more is the total interest paid in year 1 than the total interest paid in year 2 for the Topozero and Ladoga subsidiaries combined? Si: Q2. How much more is the total amount of principal reduction in year 2 than the total amount of principal reduction in year 1 for all 6% notes? Si: Q3. What is the total carrying amount at the end of year 2 for all of Bohinj subsidiary's four-year notes combined? Si: Q4. What is the amount of Note 120's carrying amount at the end of year 3? Si: Q5. which of the following statements about the endofyear journal entry for a four-year installment note payment is true? The annual amount ofthe debit to the Notes Payable account is the same each year. The annual amount ofthe debit to the interest Expense account increases me year to year. The annual amount ofthe credit to the Cash account decreases each year. O O O O The end-ofyearjournal entry causes the credit balance in the Notes Payable account to decrease from year to yearStep by Step Solution
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