Question

All answers must be entered as a formula. Click OK to begin. OK

Everything needs to be in formula. I’m having trouble with that.

Answer 1

All you have to do is to link the amounts in excel by usiing "=" followed by cell number, for example in cell C42, you have to enter "=B14" for linking cash balance. below is the list of balance sheet items and the cell numbers that you need to link against it.

Below is the description under each category of balance sheet and the cell to be linked against it. In column B and G, you have to mention the name of account and in Column C and H you have to link the amounts from T accounts In the end, the amount in C57 and H57 should be same. if it is not, please check your linking and totals again.

Items	Cell to be linked
Current Asstes
Cash	B14
Supplies	G14
Total Current Assets	C42+C43
Long term assets
Land	B19
Equipments	G19
Total long term assets	C47+C48
Total Assets	C44+C49
Current Liabilites
Accounts Payable	C24
Total current liabilities	H42
Long term liabilities
Notes payables	H24
Total long term Liabilities	H47
Total Liabilites	H44+H49
Stock holders Equity
Common Stock	C29
Total Stockholders Equity	H53+H54
Total liablites and stockholders equity	H50+H55