Problem 5-1A - due in 20 hours
combsWRD27e_PR05-1A-3.xlsx
Pr. 5-1A
Problem 5-1A | # Incorrect N-box and B-box entries COUNTIF(B15:G24,"~*") | |||||
Name: | 0 | |||||
Section: | # N-box Incorrects due to blanks COUNTIF(B15:AT24," ") | |||||
54 | ||||||
Score: | 0% | # N-box +B-box corrects COUNTIF(B15:AT24," ") | ||||
0 | ||||||
Key Code: | [Key code here] | Total SUM(AD13:AD15) | ||||
Instructions | 54 | |||||
Answers are entered in the cells with gray backgrounds. | Percentage =(AD16-AD13-AD14)/AD16 | |||||
Cells with non-gray backgrounds are protected and cannot be edited. | 0% | |||||
An asterisk (*) will appear to the right of an incorrect entry. | Notes: | |||||
For ledger account amounts, only the normal balance column will be graded. | If number-entry box is blank (this would be an incorrect answer for N-boxes), error check returns two spaces, " " | |||||
Essay answers will not be graded. | If number-entry or blank-entry box is incorrect, returns "*" | |||||
If number-entry or blank-entry box is correct, returns single space, " " | ||||||
1. | REVENUE JOURNAL | Page 1 | Use data verification to set data entry to whole number >= 0, and use drop-downs for lables and names, so that students can't enter a space in a box and have it counted as correct. | |||
Inv. | Post. | Accts. Rec. Dr. | Conditional formatting might be used but wasn't here, to hide some of the error check return symbols. If A1 = "~*", then font = red, if something else, then font = background color. | |||
Date | No. | Account Debited | Ref. | Fees Earned Cr. | ||
July | 21 | 1 | D. Chase | |||
22 | 2 | J. Dunlop | ||||
24 | 3 | F. Mintz | ||||
27 | 4 | T. Quinn | ||||
30 | 5 | K. Tisdale | ||||
30 | 6 | |||||
31 | 7 | |||||
31 | √ | |||||
R1 | ||||||
J1 | ||||||
JOURNAL | Page 1 | |||||
Post. | Cash | |||||
Date | Description | Ref. | Debit | Credit | Accounts Payable | |
Supplies | ||||||
July | 28 | Fees Earned | ||||
Accounts Receivable | ||||||
ACCOUNTS RECEIVABLE LEDGER | (12) | |||||
D. Chase | (14) | |||||
Post. | (41) | |||||
Date | Item | Ref. | Debit | Credit | Balance | |
July | 30 | ................................. | ||||
J. Dunlop | ||||||
Post. | ||||||
Date | Item | Ref. | Debit | Credit | Balance | |
July | 21 | ................................. | ||||
F. Mintz | ||||||
Post. | ||||||
Date | Item | Ref. | Debit | Credit | Balance | |
July | 27 | ................................. | ||||
T. Quinn | ||||||
Post. | ||||||
Date | Item | Ref. | Debit | Credit | Balance | |
July | 24 | ................................. | ||||
31 | ................................. | |||||
K. Tisdale | ||||||
Post. | ||||||
Date | Item | Ref. | Debit | Credit | Balance | |
July | 22 | ................................. | ||||
30 | ................................. | |||||
2. | GENERAL LEDGER | |||||
Accounts Receivable | 12 | |||||
Post. | Balance | |||||
Date | Item | Ref. | Debit | Credit | Debit | Credit |
July | 31 | ................................. | ||||
Supplies | 13 | |||||
Post. | Balance | |||||
Date | Item | Ref. | Debit | Credit | Debit | Credit |
July | 25 | ................................. | ||||
Fees Earned | 41 | |||||
Post. | Balance | |||||
Date | Item | Ref. | Debit | Credit | Debit | Credit |
July | 25 | ................................. | ||||
31 | ................................. | |||||
3. | ||||||
a. | ||||||
b. | ||||||
4. | ||||||
Sol
Problem 5-1A | ||||||||
Name: | Solution | |||||||
Section: | ||||||||
Scoring: | ON | |||||||
Instructions | ||||||||
Answers are entered in the cells with gray backgrounds. | ||||||||
Cells with non-gray backgrounds are protected and cannot be edited. | ||||||||
An asterisk (*) will appear to the left of an incorrect entry. | ||||||||
For ledger account amounts, only the normal balance column will be graded. | ||||||||
Essay answers will not be graded. | ||||||||
REVENUE JOURNAL | Page 1 | |||||||
Inv. | Post. | Accts. Rec. Dr. | ||||||
Date | No. | Account Debited | Ref. | Fees Earned Cr. | ||||
July | 21 | 1 | J. Dunlop | √ | 115 | D. Chase | ||
22 | 2 | K. Tisdale | √ | 350 | J. Dunlop | |||
24 | 3 | T. Quinn | √ | 85 | F. Mintz | |||
27 | 4 | F. Mintz | √ | 225 | T. Quinn | |||
30 | 5 | D. Chase | √ | 170 | K. Tisdale | |||
30 | 6 | K. Tisdale | √ | 120 | ||||
31 | 7 | T. Quinn | √ | 105 | ||||
31 | 1,170 | √ | ||||||
(12) | (41) | R1 | ||||||
J1 | ||||||||
JOURNAL | Page 1 | |||||||
Post. | Cash | |||||||
Date | Description | Ref. | Debit | Credit | Accounts Payable | |||
Supplies | ||||||||
July | 25 | Supplies | 13 | 300 | Fees Earned | |||
Fees Earned | 41 | 300 | Accounts Receivable | |||||
ACCOUNTS RECEIVABLE LEDGER | (12) | |||||||
D. Chase | (14) | |||||||
Post. | (41) | |||||||
Date | Item | Ref. | Debit | Credit | Balance | |||
July | 30 | ................................. | R1 | 170 | 170 | |||
J. Dunlop | ||||||||
Post. | ||||||||
Date | Item | Ref. | Debit | Credit | Balance | |||
July | 21 | ................................. | R1 | 115 | 115 | |||
F. Mintz | ||||||||
Post. | ||||||||
Date | Item | Ref. | Debit | Credit | Balance | |||
July | 27 | ................................. | R1 | 225 | 225 | |||
T. Quinn | ||||||||
Post. | ||||||||
Date | Item | Ref. | Debit | Credit | Balance | |||
July | 24 | ................................. | R1 | 85 | 85 | |||
31 | ................................. | R1 | 105 | 190 | ||||
K. Tisdale | ||||||||
Post. | ||||||||
Date | Item | Ref. | Debit | Credit | Balance | |||
July | 22 | ................................. | R1 | 350 | 350 | |||
30 | ................................. | R1 | 120 | 470 | ||||
2. | GENERAL LEDGER | |||||||
Accounts Receivable | 12 | |||||||
Post. | Balance | |||||||
Date | Item | Ref. | Debit | Credit | Debit | Credit | ||
July | 31 | ................................. | R1 | 1,170 | 1,170 | |||
Supplies | 13 | |||||||
Post. | Balance | |||||||
Date | Item | Ref. | Debit | Credit | Debit | Credit | ||
July | 25 | ................................. | J1 | 300 | 300 | |||
Fees Earned | 41 | |||||||
Post. | Balance | |||||||
Date | Item | Ref. | Debit | Credit | Debit | Credit | ||
July | 25 | ................................. | J1 | 300 | 300 | |||
31 | ................................. | R1 | 1,170 | 1,470 | ||||
3. | ||||||||
a. | $1,170 | |||||||
b. | $1,170 | |||||||
4. | The computerized system is much more efficient. Each sales transaction would be entered into an electronic invoice form. The postings to the accounts receivable subsidiary and general ledgers would be automatic. Also, all sums and totals in the subsidiary ledgers would be calculated automatically. There would be no separate postings to an accounts receivable control account, because there would be no need to verify the accuracy of account totals. There would not be a math or posting error. The computerized system would also provide management current customer account balance information, since the postings are automatic. | |||||||