Spreadsheet Analysis Using Excel
The following accounts, balances, and other financial information are drawn from the records of Vong Company for the year 2011:
Net sales revenue | $18,800 | Beginning common stock | $ 9,000 |
Unearned revenue | 2,600 | Land | 8,000 |
Accounts receivable | 6,000 | Certificate of deposit | 10,000 |
Cost of goods sold | 6,000 | Interest revenue | 100 |
Inventory | 5,000 | Interest receivable | 100 |
Accounts payable | 5,800 | Dividends | 1,500 |
Notes payable | 6,000 | Beginning retained earnings | 8,500 |
Interest expense | 550 | Cash from stock issued | 3,000 |
Interest payable | 550 | Cash | 7,200 |
Supplies | 50 | Gain on sale of land | 1,050 |
Supplies expense | 750 | Loss on sale of property | 50 |
Office equipment | 3,500 | Salaries expense | 1,400 |
Depreciation expense | 500 | Salaries payable | 400 |
Accumulated depreciation | 1,000 | Rent expense | 1,100 |
Transportation-out expense | 500 | Prepaid rent | 100 |
Miscellaneous operating expense | 4,500 |
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The Cash account revealed the following cash flows:
Received cash from advances from customers | $ 2,600 |
Purchased office equipment | (3,500) |
Received cash from issuing stock | 3,000 |
Collected cash from accounts receivable | 3,800 |
Purchased land | (8,000) |
Received cash from borrowing funds | 6,000 |
Paid cash for rent | (1,200) |
Sold land | 10,000 |
Paid cash for dividends | (1,500) |
Paid cash for operating expenses | (1,000) |
Purchased certificate of deposit | (10,000) |
Required
Build an Excel spreadsheet to construct a multistep income statement, statement of changes in stockholders’ equity, balance sheet, and statement of cash flows for the year 2011,
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