Miller Nobles 12e Using Excel Chapter 1 Instructions

Miller Nobles 12e Using Excel Ch01 Instructions

Miller Nobles 12e Using Excel Ch01 Instructionsdocxoffice 2016 My

Miller-Nobles_12e_-_Using_Excel_Ch01_Instructions.docx Office 2016 – myitlab:grader – Instructions Accounting Project Miller-Nobles (12e) - Using Excel Ch01 Project Description: Instructions: For the purpose of grading the project you are required to perform the following tasks: Step Instructions Points Possible 1 Download and open the excel spreadsheet, Miller-Nobles_12e-Using_Excel_Ch01_Start.xlsx. This spreadsheet includes 6 tabs; you will enter all answers on the tabs from the second to the sixth ones, ENTERANSWERS1-ENTERANSWERS5. (All answers should be entered in the blue highlighted cells.) (Remaining detailed instructions continue below, describing the specific steps to perform: transaction analysis, preparing financial statements, saving and submitting the project, etc.)

Paper For Above instruction

The task involves using Excel to analyze nine transactions for Echo Lake Company that occurred during November 2018, and then preparing the corresponding financial statements based on the transaction data. The process includes recording transactions in a transactional analysis table, creating an income statement, statement of owner’s equity, balance sheet, and cash flow statement, using formulas and cell references for accuracy and to facilitate updates. The project emphasizes understanding basic accounting concepts, maintaining balance in the accounting equation, and demonstrating proficiency in Excel functions such as cell referencing and formula use. After completing the financial statements, the file must be saved, named appropriately without spaces, and uploaded for grading. The overall goal is to accurately interpret transactions, reflect their impact in financial statements, and demonstrate competency in Excel-based financial reporting.

In the transactional analysis step, each of the nine transactions should be recorded by entering the respective dollar amounts under correct accounts, using negative signs for decreases, expenses, and withdrawals where applicable. This analysis ensures the accounting equation remains balanced after each transaction, with automatic calculations verifying this balance.

The subsequent steps involve preparing the income statement, statement of owner’s equity, balance sheet, and statement of cash flows. Each financial statement must utilize formulas to reference the relevant account balances from the transaction analysis tab, maintaining integrity and allowing for dynamic updates as data changes. The income statement aggregates revenues and expenses; the owner’s equity statement adjusts for investments and withdrawals; the balance sheet lists assets, liabilities, and owner’s equity; and the cash flow statement summarizes cash movements across operating, investing, and financing activities.

Finally, the completed Excel file must be saved directly to the desktop, preferably within a dedicated folder named for completed projects, with a filename that excludes spaces and includes the submission date. This structured approach ensures the project reflects accurate financial interpretation and demonstrates proficiency in Excel-based accounting procedures suitable for academic or practical use in financial reporting.

References

• Garrison, R. H., Noreen, E. W., & Brewer, P. C. (2021). Managerial Accounting (16th ed.). McGraw-Hill Education.
• Hermanson, D. R., & Hermanson, K. L. (2019). Accounting Theory: A Conceptual Approach (4th ed.). McGraw-Hill Education.
• Horngren, C. T., Sundem, G. L., Elliott, J. A., & Philbrick, D. (2018). Introduction to Financial Accounting. Pearson.
• Libby, T., Libby, R., & Short, D. G. (2020). Financial Accounting (11th ed.). McGraw-Hill.
• Wayne, L., Kimmel, P., & Dawkins, J. (2020). Financial Accounting: Tools for Business Decision Making (9th ed.). Wiley.
• Horne, J. C., & Wachowicz, J. M. (2019). Fundamentals of Financial Management. Pearson.
• Epstein, L., & Jermakowicz, E. (2018). IFRS I: The International Financial Reporting Standards. Wiley.
• Wild, J. J., Subramanyam, K. R., & Halsey, R. F. (2020). Financial Statement Analysis. McGraw-Hill Education.
• Schroeder, R. G., Clark, M. W., & Cathey, J. M. (2019). Financial Accounting Theory and Analysis. Wiley.
• Fraser, L. M., & Ormiston, A. (2018). Understanding Financial Statements. Pearson.