Instructions for the Microsoft Excel Templates

Be advised, the worksheet and workbooks are not protected.

Extensive detail and information is contained within the manual. Striking the "F1" key or following the path "Windows>Excel Help" will invoke the Office Assistant and bring up one of several help menus. You should enter your name, course ID, and date name into the cells at the top of the page. Each page contains a page footer with a Page # of Page ## as well as time and date to assist in assembly of multiple pages. Each worksheet contains the identification of the problem or exercise. All formatting should have been accomplished to provide satisfactory presentation. See the text for additional assistance in formatting. There should be no need to insert columns or rows into the workbooks. If more than one page is required by the problem, the page breaks are preset. In general, the yellow highlighted cells are the cells which work and effort should be presented. Place the proper account title in the cell where the word "Account title" appears on the template. Place the value in the cell where the word "Value" or "Amount" appears on the template. A formula may be placed in some of these cells. Write a formula into cells where the word "Formula" appears. In these cells, an amount calculated can be entered. An amount can be placed in these cells. Place the explanation for the entry in the cell where the word "Text Explanation" appears on the template. Insert the account number where "Acct Nbr" appears on the template during posting. Insert the journal reference where "JOURN #" appears on the template during posting. Insert the title in the cell where "TITLE" appears on the template. The print area is defined to fit onto 8 1/2" X 11" sheets in portrait or landscape mode as required. The gray filled cells define the perimeter of the problem and the print area. The problem is formatted for whole dollars with comma separations (no cents) except where required. The display may have "Freeze Pane" invoked so column titles remain visible during data entry. Negative values may be shown as ($400) or -$400.

Consider using "Split" panes to assist in copy and paste of data. Much of the exercises and problems can have data entered by the "look to" or "=A34" type formula where cell A34 contains the data to be entered. This precludes typing and data entry errors.

Name: Solution Course: Date: Exercises E4-5 - Income Statement International Financial Reporting Standards, 1st Edition by Kieso, Weygandt, and Warfield Solving Financial Accounting Problems Using Microsoft Excel for Windows by Rex A Schildhouse
Exercises E4-5, Presented below is information related to Webster Company ($000 omitted). Administrative expense Officers salaries Depreciation of office furniture and equipment Cost of goods sold Rental revenue Selling expense Transportation-out Sales commissions Depreciation of sales equipment Sales Income tax Interest expense Instructions: Prepare an income statement for the year 2010. Ordinary shares outstanding for 2010 total WEBSTER COMPANY Income Statement (Partial) For the Year Ended December 31, 2010 (In thousands, except earnings per share) Sales Cost of goods sold Gross profit Selling expense Sales commissions Depreciation of sales equipment Transportation-out Administrative expense Officers salaries Depreciation of office furniture and equipment Other Income and Expense Rental revenue Income from operations Interest expense Income before income tax Income tax Net income Earnings per capital share ($14,710 40,550 shares) $96,500 63,570 32,930 $7,980 6,480 2,690 4,900 3,960

$4,900 3,960 63,570 17,230 2,690 7,980 6,480 96,500 7,580 1,860

40,550

(000 omitted).

$17,150

8,860

26,010 6,920 17,230 24,150 1,860 22,290 7,580 $14,710 $0.36

Exercise 4-5 Solution, Page 3 of 5, 4/5/2013, 10:24 PM

Name: Course: Date: Exercises E4-5 - Income Statement International Financial Reporting Standards, 1st Edition by Kieso, Weygandt, and Warfield Solving Financial Accounting Problems Using Microsoft Excel for Windows by Rex A Schildhouse
Exercises E4-5, Presented below is information related to Webster Company ($000 omitted). Administrative expense Officers salaries Depreciation of office furniture and equipment Cost of goods sold Rental revenue Selling expense Transportation-out Sales commissions Depreciation of sales equipment Sales Income tax Interest expense Instructions: Prepare an income statement for the year 2010. Ordinary shares outstanding for 2010 total WEBSTER COMPANY Income Statement (Partial) For the Year Ended December 31, 2010 (In thousands, except earnings per share) Sales Account title Account title Selling expense Account title Account title Account title Administrative expense Account title Account title Other Income and Expense Account title Account title Account title Income before income tax Account title Net income Title $96,500 Amount Formula Amount Amount Amount Amount Amount

$4,900 3,960 63,570 17,230 2,690 7,980 6,480 96,500 7,580 1,860

40,550

(000 omitted).

Formula

Formula

Formula Formula Amount Formula Amount Formula Amount Formula Formula

Exercise 4-5 + Data, Page 4 of 5, 4/5/2013, 10:24 PM

Name: Course: Date: Exercises E4-5 - Income Statement International Financial Reporting Standards, 1st Edition by Kieso, Weygandt, and Warfield Solving Financial Accounting Problems Using Microsoft Excel for Windows by Rex A Schildhouse
Exercises E4-5, Presented below is information related to Webster Company ($000 omitted). Administrative expense Officers salaries Depreciation of office furniture and equipment Cost of goods sold Rental revenue Selling expense Transportation-out Sales commissions Depreciation of sales equipment Sales Income tax Interest expense Instructions: Prepare an income statement for the year 2010. Ordinary shares outstanding for 2010 total WEBSTER COMPANY Income Statement (Partial) For the Year Ended December 31, 2010 (In thousands, except earnings per share) Account title Account title Account title Account title Account title Account title Account title Account title Account title Account title Title Account title Account title Account title Title Account title Title Title Amount Amount Formula Amount Amount Amount Amount Amount

$4,900 3,960 63,570 17,230 2,690 7,980 6,480 96,500 7,580 1,860

40,550

(000 omitted).

Formula

Formula

Formula Formula Amount Formula Amount Formula Amount Formula Formula

Exercise 4-5, Page 5 of 5, 4/5/2013, 10:24 PM