I’m working on a computer science spreadsheet and need guidance to help me understand better.
In this activity, you will prepare a financial report. For this, youwill first read the following scenario and then complete the steps givenbelow.
Benjamins Machinery Inc. (BM) is a small manufacturing companylocated in Seekonk, MA. The owners are working on the companys annualfinancial reporting. The first financial report is an MS Excel worksheetthat compares the company’s balance sheets for the previous two years.The report form already has the labels entered for the required lineitems.
The owners have asked you to complete the report by entering thenumeric data and the formulas to perform the financial calculations.Complete the following steps:
1. Open the Balance workbook.
Select the following link to access the Balance workbook.
Balance (M4) Workbook [XLS file size 12KB]
Inthe file, you will find two worksheets. The first is labeledDocumentation and the second is labeled Balance Sheet. Save theworkbook as Comparative in the folder where you are storing your files.
2. Incells B3 and B4 of the Documentation sheet, enter your name and thedate. In cell A1, increase the font size of the title to 28 points.
3. The remaining instructions pertain to the Balance Sheet Worksheet.Click on the Balance Sheet worksheet tab. Increase the font size of thetitle in cell A1 to 28 points. Increase the font size of the subtitlein cell A2 to 20 points and change the word “Document” to “Comparison”in the subtitle.
4. In the corresponding cells of columns C and Din the Balance Sheet, enter the numbers for the companys assets andliabilities.
|Row||Column C||Column D|
5. Set the widths of column A to 12.00, column B to 28.00,columns C and D to 14.00 each, column E to 2.00, and column F to 10.00.
6. In cells C8 and D8, enter formulas to calculate the Current Assets value for LAST YEAR and THIS YEAR. It is equal to the sum of the cash, accounts receivable, inventories, and prepaid expenses values of corresponding columns (hint: use the SUM function).
7. In cells C14 and D14, enter formulas to calculate the Net Fixed Assets value for LAST YEAR and THIS YEAR. It is equal to the difference between the fixed assets value and the accumulated depreciation values of the corresponding columns (hint: SUM[C12, -C13]).
8. In cells C16 and D16, enter formulas to calculate the TOTAL ASSETS value for LAST YEAR and THIS YEAR. It is equal to the sum of the current assets, other assets, and net fixed assets values of the corresponding columns.
9. In cells C23 and D23, enter formulas to calculate the Current Liabilities value for LAST YEAR and THIS YEAR. It is the sum of the accounts payable, accrued expenses, current portion of debt, and income taxes payable values of the corresponding columns.
10. In cells C29 and D29, enter formulas to calculate the Shareholders Equity value for LAST YEAR and THIS YEAR. It is the sum of the capital stock and retained earnings values.
11. In cells C31 and D31, enter formulas to calculate the TOTAL LIABILITIES & EQUITY value for LAST YEAR and THIS YEAR. It is the sum of the current liabilities, long-term debt, and shareholders’ equity.
12. In a balance sheet, the TOTAL ASSETS should equal the TOTAL LIABILITIES & EQUITY.Compare the values in cells C16 and C31, and then compare the values incells D16 and D31 to confirm that this is the case for the BenjaminsMachinery Inc. balance sheet in LAST YEAR and THIS YEAR. If the valuesare not equal for either year, check your worksheet for errors in eithervalues or formulas.
13. In cell F4, enter a formula using cell references to calculatethe percentage change in cash from LAST YEAR to THIS YEAR, which isequal to: (THIS YEARs value minus LAST YEARs value and then divide theresult by LAST YEARs value).
14. Copy the formula in cell F4and paste it in the nonadjacent range F5:F8; F10; F12:F14; F16; F19:F23;F25; F27:F29; F31 to show the percentage change in all values of thebalance sheet.
15. Add borders around the cells in columns B, C,D, and F of the balance sheet, excluding the cells in rows 1, 2, 9, 11,15, 17, 18, 24, 26, and 30.
16. Merge and Center the Title and subtitle using columns A through F. Then right justify the cells C3, D3 and F3.
17. Display the formulas in the Balance Sheet worksheet, and then setthe gridlines and row/column headings to print. Printing the worksheetis not required.
18. Display the Balance Sheet worksheet in Normal view, hide theformulas, set the gridlines and column/row headings so that they won’tprint, and then save the workbook.
Once you have successfully completed all of the steps in this assignment, post your Comparative workbook.
Compose your work in a .xls or .xlsx file type using Microsoft Exceland save it frequently to your computer. Please follow uploadingguidelines provided by your instructor.
Check your work and correct any spelling or grammatical errors. Whenyou are ready to submit your work, click Submit Assignment in theupper right corner. Click on Browse, browse your computer, and selectyour file. Click Open and verify the correct file name has appearednext to the Browse button. Enter your comments, if any, in the Commentsarea. Click on Submit Assignment.