Instructions for the Microsoft Excel Templates by Rex A Schildhouse

Be advised, the template workbooks and worksheets are not protected. Overtyping any data may remove it.
Extensive detail and information is contained within the help function of Microsoft Excel and in the provided text. You should enter your name, date, instructor's name, and course into the cells at the top of the page. This information will be printed on the top of each page if the template requires more than one page. Each template is set to print with File Name, Page # of # Page(s), the print date, and the print time to assist in assembly of multiple pages. If more than one page is required by the template, manual page breaks have been set to provide consistent presentation. All of the cells have been correctly formatted for presentation and should not require any adjustment. For example, if the text requires one, two, or three significant digits in a presentation, the template has been set for that presentation in the appropriate cells. In general, the yellow highlighted cells are the cells which work and effort should be presented. These entries may include date(s), account title(s), values, memorandum appropriate to the entry, or text answers to questions. And information or data which may be required by the solution will be entered in cells with borders to help identify them. Where a yellow highlighted cell shows "Date" enter the appropriate date for that step of the challenge. This may be any date format that Microsoft Excel accepts. Some of these formats include "1/1/12", "01/01/12", and "01/01/2012." All of these will return January 01, 2012, in the format set in the template. Where a yellow highlighted cell shows "Acct Nbr" enter the appropriate account number, provided in the template and in the text for that step of the challenge. This is entry may be a "Look to" formula to another cell where that information has been provided or previously entered. Where a yellow highlighted cell shows "Account Title" enter the appropriate account title for that step of the challenge. This is a text entry and most of those cells are set for the proper indentation for that step. Frequently the chart of accounts appropriate to the challenge is provided and you can use the "look to" formula to reference the appropriate account title without typing it. Check with your instructor to see if abbreviated account titles are acceptable. For example "A/R" for Accounts Receivable, "A/P" for Accounts Payable. If your instructor is using a comparison process between workbooks for grading, these abbreviates may not be acceptable. Where a yellow highlighted cell shows titles such as "Values," "Amounts," or "Quantities" enter the appropriate numerical value for that step of the challenge. The cell is formatted for proper presentation of the entered information. If a dollar sign is appropriate, it should not be entered, Microsoft Excel will place it there through formatting. Commas and significant digits (decimals) are also set through formatting for common presentation. Since the formatting of the templates is not protected by any password, you may change any of the formatting found in the templates to meet your desires. Where a yellow highlighted cell shows titles such as "Formula" you may enter the appropriate formula or enter a numerical value appropriate for that step of the challenge. Most of the values necessary for the appropriate formula are located on the template in cells with borders or in other yellow highlighted cells. The formula may be a simple "Look to" formula, an equal sign and a cell reference, "=E27" or more complex as "=E27*5," or something similar to the time-value-of-money formula. These are addressed in the tutorial text provided for Microsoft Excel.

Where a yellow highlighted cell shows titles such as "Formula" you may enter the appropriate formula or enter a numerical value appropriate for that step of the challenge. Most of the values necessary for the appropriate formula are located on the template in cells with borders or in other yellow highlighted cells. The formula may be a simple "Look to" formula, an equal sign and a cell reference, "=E27" or more complex as "=E27*5," or something similar to the time-value-of-money formula. These are addressed in the tutorial text provided for Microsoft Excel. Where a yellow highlighted cell shows "Text" enter the appropriate text for that step of the challenge. This may be a memorandum entry for a journal entry or a lengthy text answer discussing the results of an analysis of a company's financials. These titles can simply be typed over. Where a yellow highlighted cell shows titles such as "Journal Number" or "Journ #" you should enter the appropriate number provided in the template and in the text for that step of the challenge. In general this will appear in instances such as "Record the following events in General Journal number six." The print area is defined to fit onto 8 1/2" 11" sheets in portrait or landscape mode as required. Margins are generally set to no less than 1/2" so most printers can print them without a problem. If you printer cannot accept margins less than 1" you may have to reformat the margins through Page Setup. The display may have "Freeze Pane" invoked so column titles remain visible during data entry. This can be removed by utilizing the View menu and selecting "Unfreeze Panes" under "Freeze Panes." When negative values are required, enter them by starting with a minus sign, "-". Negative values may be shown as ($400) or -$400. Negative values in formulas can be created by putting a minus sign in front of the cell reference - "=E10*-E11" will return a negative value if both cells E10 and E11 contain positive values. Microsoft Office and Microsoft Excel are products of, and copyrighted by, Microsoft Corporation, One Microsoft Way, Redmond, Washington 98052-6399

Solution Name: Date: Instructor: Course: Intermediate Accounting, 14th Edition by Kieso, Weygandt, and Warfield Primer on Using Excel in Accounting by Rex A Schildhouse
E15-1 (Recording the Issuances of Common Stock) During its first year of operations, Sitwell Corporation had the following transactions pertaining to its common stock. per share. 01/10/12 Issued 80,000 shares for cash at $6.00 03/01/12 Issued 5,000 shares to attorneys in payment of a bill for $35,000 for services rendered in helping the company to incorporate. per share. 07/01/12 Issued 30,000 shares for cash at $8.00 per share. 09/01/12 Issued 60,000 shares for cash at $10.00 Instructions: (a) Prepare the journal entries for these transactions, assuming that the common stock has a par per share. value of $3.00 01/10/12 Cash (80,000 shares $6.00 per share) Common Stock (80,000 $3.00 par value) Paid-in Cap in Excess of Par [80,000 ($6.00 - $3.00)] Organization Expense Common Stock (5,000 $3.00 par value) Paid-in Cap in Excess of Par [5,000 ($7.00 - $3.00)] Cash (30,000 shares $8.00 per share) Common Stock (30,000 $3.00 par value) Paid-in Cap in Excess of Par [30,000 ($8.00 - $3.00)] Cash (60,000 shares $10.00 per share) Common Stock (60,000 $3.00 par value) Paid-in Cap in Excess of Par [60,000 ($10.00 - $3.00)] 480,000 240,000 240,000 35,000 15,000 20,000 240,000 90,000 150,000 600,000 180,000 420,000

03/01/12

07/01/12

09/01/12

(b) Prepare the journal entries for these transactions, assuming that the common stock is no par with a stated value of $2.00 per share. 01/10/12 Cash (80,000 shares $6.00 per share) 480,000 Common Stock (80,000 $2.00 stated value) Paid-in Cap in Excess of Stated Value [80,000 ($6.00 - $3.00)] Organization Expense Common Stock (5,000 $2.00 stated value) Paid-in Cap in Excess of Stated Value [5,000 ($7.00 - $2.00)] 35,000 10,000 25,000

160,000 320,000

03/01/12

07/01/12

Cash (30,000 shares $8.00 per share) 240,000 Common Stock (30,000 $2.00 stated value) Paid-in Cap in Excess of Stated Value [30,000 ($8.00 - $2.00)] Cash (60,000 shares $10.00 per share) 600,000 Common Stock (60,000 $2.00 stated value) Paid-in Cap in Excess of Stated Value [60,000 ($10.00 - $2.00)]

60,000 180,000

09/01/12

120,000 480,000

153010928.xlsx.ms_office, Exercise 15-1 Solution, Page 3 of 12, 6/20/2013, 6:59 AM

Name: Date: Instructor: Course: Intermediate Accounting, 14th Edition by Kieso, Weygandt, and Warfield Primer on Using Excel in Accounting by Rex A Schildhouse
E15-1 (Recording the Issuances of Common Stock) During its first year of operations, Sitwell Corporation had the following transactions pertaining to its common stock. per share. 01/10/12 Issued 80,000 shares for cash at $6.00 03/01/12 Issued 5,000 shares to attorneys in payment of a bill for $35,000 for services rendered in helping the company to incorporate. per share. 07/01/12 Issued 30,000 shares for cash at $8.00 per share. 09/01/12 Issued 60,000 shares for cash at $10.00 Instructions: (a) Prepare the journal entries for these transactions, assuming that the common stock has a par per share. value of $3.00 01/10/12 Account Title Account Title Account Title Account Title Account Title Account Title Account Title Account Title Account Title Account Title Account Title Account Title Amount Amount Amount Amount Amount Amount Amount Amount Amount Amount Amount Amount

03/01/12

07/01/12

09/01/12

(b) Prepare the journal entries for these transactions, assuming that the common stock is no par with a stated value of $2.00 per share. 01/10/12 Account Title Account Title Account Title Account Title Account Title Account Title Account Title Account Title Account Title Account Title Account Title Account Title Amount Amount Amount Amount Amount Amount Amount Amount Amount Amount Amount Amount

03/01/12

07/01/12

09/01/12

153010928.xlsx.ms_office, Exercise 15-1, Page 4 of 12, 6/20/2013, 6:59 AM

Solution Name: Date: Instructor: Course: Intermediate Accounting, 14th Edition by Kieso, Weygandt, and Warfield Primer on Using Excel in Accounting by Rex A Schildhouse
E15-15 (Dividend Entries) The following data were taken from the balance sheet accounts of Wickham Corporation on December 31, 2012. Current assets $540,000 Investments $624,000 Common stock, (par value $10) $600,000 Paid-in capital in excess of par $150,000 Retained earnings $840,000 Instructions: Prepare the required journal entries for the following unrelated items: (a) A 5% stock dividend is declared and distributed at a time when the market value of the shares is $39 per share. Retained Earnings (60,000 5.00 $39.00) Common Stock Dividend Distributable Paid-in Capital in Excess of Par - Common Stock Common Stock Dividend Distributable Common Stock (b) The par value of the capital stock is reduced to $2 117,000 30,000 87,000 30,000 30,000 with a 5-for-1 stock split

No entry, memorandum note to indicate that par value is reduced to $2 and shares outstanding are now 300,000 (60,000 5).

(c) A dividend is declared January 5, 2013, and paid January 25, 2013, in bonds held as an investment. The bonds have a book value of $90,000 and a fair value of $125,000 Jan 05, 13 Debt Investments Unrealized Holding Gain or Loss - Income Retained Earnings Property Dividends Payable Property Dividends Payable Debt Investments 35,000 35,000 125,000 125,000 125,000 125,000

Jan 05, 13

Jan 25, 13

153010928.xlsx.ms_office, Exercise 15-15 Solution, Page 5 of 12, 6/20/2013, 6:59 AM

Name: Date: Instructor: Course: Intermediate Accounting, 14th Edition by Kieso, Weygandt, and Warfield Primer on Using Excel in Accounting by Rex A Schildhouse
E15-15 (Dividend Entries) The following data were taken from the balance sheet accounts of Wickham Corporation on December 31, 2012. Current assets $540,000 Investments $624,000 Common stock, (par value $10) $600,000 Paid-in capital in excess of par $150,000 Retained earnings $840,000 Instructions: Prepare the required journal entries for the following unrelated items: (a) A 5% stock dividend is declared and distributed at a time when the market value of the shares is $39 per share. Account Title Account Title Account Title Account Title Account Title (b) The par value of the capital stock is reduced to Text entry as appropriate. $2 Formula Formula Formula Amount Amount with a 5-for-1 stock split

(c) A dividend is declared January 5, 2013, and paid January 25, 2013, in bonds held as an investment. The bonds have a book value of $90,000 and a fair value of $125,000 Jan 05, 13 Account Title Account Title Account Title Account Title Account Title Account Title Amount Amount Amount Amount Amount Amount

Jan 05, 13

Jan 25, 13

153010928.xlsx.ms_office, Exercise 15-15, Page 6 of 12, 6/20/2013, 6:59 AM

Solution Name: Date: Instructor: Course: th Intermediate Accounting, 14 Edition by Kieso, Weygandt, and Warfield Primer on Using Excel in Accounting by Rex A Schildhouse
P15-1 (Equity Transactions and Statement Preparation) On January 5, 2012, Phelps Corporation received a charter granting the right to issue 5,000 shares of $100.00 par value, 8% cumulative and nonparticipating preferred stock, and 50,000 shares of $10.00 par value common stock. It then completed these transactions. Jan 11 Issued 20,000 shares of common stock at $16 per share. Issued to Sanchez Corp. 4,000 shares of preferred stock for the following: Feb 1 Machinery with a fair market value of $50,000 A factory building with a fair market value of $160,000 and, land with an appraised value of $270,000 Purchased 1,800 shares of common stock at $17 per share. Jul 29 (Use the cost method.) Aug 10 Sold the 1,800 treasury shares at $14 per share. Declared a $0.25 per share cash dividend on the common stock and Dec 31 declared the preferred dividend. Dec 31 Closed the Income Summary account. There was a $175,700 net income. Instructions: (a) Record the journal entries for the transactions listed above. Jan 11, 12 Cash (20,000 shares $16.00) Common Stock (20,000 shares $10.00) Paid-in Capital in Excess of ParCommon Equipment Buildings Land Preferred Stock (4,000 shares $100.00) Paid-in Capital in Excess of ParPreferred Treasury Stock (1,800 shares $17.00) Cash 320,000 200,000 120,000 50,000 160,000 270,000 400,000 80,000 30,600 30,600

Feb 1, 12

Jul 29, 12

Aug 10, 12

Cash (1,800 shares $14.00) 25,200 Retained Earnings (1,800 shares $3.00) 5,400 Treasury Stock (1,800 shares $17.00) 30,600 *(The debit is made to Retained Earnings because no Paid-in Capital *from Treasury Stock exists.) Retained Earnings Dividend Payable 37,000 37,000

Dec 31, 12

Preferred Stock Dividends = 4,000 shares $100 8.00 = $32,000 Common Stock Dividends = 20,000 shares $0.25 = $5,000.00 Dec 31, 12 Income Summary Retained Earnings 175,700 175,700

153010928.xlsx.ms_office, Problem 15-1 Solution, Page 7 of 12, 6/20/2013, 6:59 AM

Solution Name: Date: Instructor: Course: th (b) Prepare the stockholders' equity Phelps balance sheet as of Intermediate Accounting , 14 section Editionof by Kieso,Corporation's Weygandt, and Warfield
December 31, 2012. PHELPS CORPORATION Statement of Stockholders' Equity December 31, 2012 Capital Stock Preferred stockpar value $100 per share, 8% cumulative and nonparticipating, 5,000 shares authorized, 4,000 shares issued and outstanding Common stockpar value $5 per share, 50,000 shares authorized, 20,000 issued and outstanding Total capital stock Additional Paid-in Capital Paid-in capital in excess of parpreferred $80,000 Paid-in capital in excess of parcommon 120,000 Total paid-in capital Retained earnings ($175,700 - $5,400 - $37,000) Total stockholders equity

$400,000 200,000 600,000

200,000 800,000 133,300 $933,300

153010928.xlsx.ms_office, Problem 15-1 Solution, Page 8 of 12, 6/20/2013, 6:59 AM

Name: Date: Instructor: Course: th Intermediate Accounting, 14 Edition by Kieso, Weygandt, and Warfield Primer on Using Excel in Accounting by Rex A Schildhouse
P15-1 (Equity Transactions and Statement Preparation) On January 5, 2012, Phelps Corporation received a charter granting the right to issue 5,000 shares of $100.00 par value, 8% cumulative and nonparticipating preferred stock, and 50,000 shares of $10.00 par value common stock. It then completed these transactions. Jan 11 Issued 20,000 shares of common stock at $16 per share. Issued to Sanchez Corp. 4,000 shares of preferred stock for the following assets: Feb 1 Machinery with a fair market value of $50,000 A factory building with a fair market value of $110,000 and, land with an appraised value of $270,000 Purchased 1,800 shares of common stock at $19 per share. Jul 29 (Use the cost method.) Aug 10 Sold the 1,800 treasury shares at $14 per share. Declared a $0.25 per share cash dividend on the common stock and Dec 31 declared the preferred dividend. Dec 31 Closed the Income Summary account. There was a $175,700 net income. Instructions: (a) Record the journal entries for the transactions listed above. Jan 11, 12 Account Title Account Title Account Title Account Title Account Title Account Title Account Title Account Title Account Title Account Title Amount Amount Amount Amount Amount Amount Amount Amount Amount Amount

Feb 1, 12

Jul 29, 12

Aug 10, 12

Account Title Amount Retained Earnings Amount Account Title Amount *(The debit is made to Retained Earnings because no Paid-in Capital *from Treasury Stock exists.) Account Title Account Title Amount Amount

Dec 31, 12

Dec 31, 12

Account Title Account Title

Amount Amount

153010928.xlsx.ms_office, Problem 15-1, Page 9 of 12, 6/20/2013, 6:59 AM

Name: Date: Instructor: Course: th (b) Prepare the stockholders' equity Phelps balance sheet as of Intermediate Accounting , 14 section Editionof by Kieso,Corporation's Weygandt, and Warfield
December 31, 2012. PHELPS CORPORATION Statement of Stockholders' Equity December 31, 2012 Capital Stock Enter text here. Amount Enter text here. Total capital stock Additional Paid-in Capital Text Title Text Title Text Title Text Title Total stockholders equity Amount Formula Amount Amount

Formula Formula Amount Formula

153010928.xlsx.ms_office, Problem 15-1, Page 10 of 12, 6/20/2013, 6:59 AM

Solution Name: Date: Instructor: Course: Intermediate Accounting, 14th Edition by Kieso, Weygandt, and Warfield Primer on Using Excel in Accounting by Rex A Schildhouse
P15-5 (Treasury StockCost Method) Before Gordon Corporation engages in the treasury stock transactions listed below, its general ledger reflects, among others, the following account balances (par value of its stock is $30.00 per share). Paid-in Capital in Excess of Par Common Stock Retained Earnings $99,000 $270,000 $80,000 Instructions: Record the treasury stock transactions (given below) under the cost method of handling treasury stock; use the FIFO method for purchase-sale purposes. (a) Bought 380 shares of treasury stock at $40 per share. Treasury Stock (380 $40.00) Cash (b) Bought 300 shares of treasury stock at 15,200 15,200 $45 13,500 13,500 $42 14,700 14,000 700 $38 4,180 620 4,800 $1,200 3,600 $4,800 per share. per share. per share.

Treasury Stock (300 $45.00) Cash (c) Sold 350 shares of treasury stock at

Cash (350 $42.00) Treasury Stock (350 $40.00) Paid-in Cap from T/S (350 $2.00) (d) Sold 110 shares of treasury stock at

Cash (110 $38.00) Paid-in Cap from T/S (110 $110.00) Treasury Stock (350 $40.00) 30 shares purchased at $40.00 80 shares purchased at $45.00 Cost of treasury shares sold using FIFO =

153010928.xlsx.ms_office, Problem 15-5 Solution, Page 11 of 12, 6/20/2013, 6:59 AM

Name: Date: Instructor: Course: Intermediate Accounting, 14th Edition by Kieso, Weygandt, and Warfield Primer on Using Excel in Accounting by Rex A Schildhouse
P15-5 (Treasury StockCost Method) Before Gordon Corporation engages in the treasury stock transactions listed below, its general ledger reflects, among others, the following account balances (par value of its stock is $30.00 per share). Paid-in Capital in Excess of Par Common Stock Retained Earnings $99,000 $270,000 $80,000 Instructions: Record the treasury stock transactions (given below) under the cost method of handling treasury stock; use the FIFO method for purchase-sale purposes. (a) Bought 380 shares of treasury stock at $40 per share. Account Title Account Title (b) Bought 300 Account Title Account Title (c) Sold 350 Account Title Account Title Account Title (d) Sold 110 Account Title Account Title Account Title First shares purchased Second shares purchased Cost of treasury shares sold using FIFO = shares of treasury stock at shares of treasury stock at shares of treasury stock at Amount Amount $45 Amount Amount $42 Amount Amount Amount $38 Amount Amount Amount Amount Amount Formula per share. per share. per share.

153010928.xlsx.ms_office, Problem 15-5, Page 12 of 12, 6/20/2013, 6:59 AM