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PROTECTED VIEW Be careful -files from the Internet can contain viruses. Unless you need to edit, it's s 17 Chapter 5 Using Excel S P5-48 Using Excel to prepare a multi-step income statement s Cougar Mountain Sports has prepared an adjusted trial balance for the fiscal year ended Jun 6 Use the blue shaded areas on the income statement worksheet for inputs 8 Requirements 1. Use Excel to prepare a multi-step income statement based on the adjusted trial b a Use formulas to link the balances on the adjusted trial balance to the amount areas of the income Statement. For example, the Rent Expense is divided into 10 b. Use a formula to add and subtract account amounts as indicated c. Format the numbers in the dollar columns with a comma and no decimal place column and at the total (e.g. $26.201). Make sure the decimal places align Double-underline the total. d. 2. Compute the gross profit margin percentage. Format percentages to two decimai 15 16 Excel Skills 1. Enter numbers or text into cells 2. use formulas to add or subtract 18 19 3. Select the number format (dollar signs). 20. 4. Select the percentage format (%) to two decimal places. 21 5. select the border (double underline) 6. Use the Increase indent button to indent items in the income statement 23 24 25 26 InstructionsAdjusted Trial Balance Income Statement Ready

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Please hit LIKE button if this helped. For any further explanation, please put your query in comment, will get back to you. Account Title Debit Credit Income Statement: Cash 152000 Accounts Receivable 11250 Sales Revenue 105700 Merchandise Inventory 2876 Cost of Goods Sold 26390 Estimated Return Inventory 556 Gross Margin 79310 Office Supplies 1160 Prepaid Rent 4000 Operating Expenses: Building 45000       Selling Expenses: Acc Dep-Building 2800 Salaries Expense (note-1)70% 10010 Equipment 6500 Rent Expense (Note-2)80% 19200 Acc Dep-Equipment 2400 Utilities Epxense (Note-3)60% 3300 Accounts Payable 14250 Salaries Payable 1700 Dep Expense-Equipment (note-5) 1200 Interest Payable 2610 Advertising Expense 2225 Refunds Payable 1300 Delivery Expense 450 Notes Payable 43500 Supplies Expense (note-6)50% 470 Common Stock 100000 Total Selling Expenses 36855 Retained Earnings 42800 Dividends 3200       Administrative Expenses: Sales Revenue 105700 Salaries Expense (note-1)30% 4290 Sales Discounts Forfieted 400 Rent Expense (Note-2)20% 4800 Cost of Goods Sold 26390 Utilities Epxense (Note-3)40% 2200 Salaries Expense (note-1) 14300 Dep Expense-Building (note-4) 1400 Rent Expense (Note-2) 24000 Supplies Expense (note-6)50% 470 Utilities Epxense (Note-3) 5500 Total Administrative Expenses 13160 Dep Expense-Building (note-4) 1400 Total Operating Expense 50015 Dep Expense-Equipment (note-5) 1200 Operating Income 29295 Advertising Expense 2225 Interest Expense 2610 Other Income and (Expense): Delivery Expense 450 Sales Discounts Forfieted 400 Supplies Expense (note-6) 940 Interest Expense -2610 Income Tax Expense 11903 Total Other Income and (Expense) -2210 Total 317460 317460 Income before Income Tax Expense 27085 Income Tax Expense 11903 Net Income 15182

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