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 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 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 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 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 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 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 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 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 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.

Name:
Date:
Instructor:
Course:
h
Intermediate Accounting, 15 Edition by Kieso, Weygandt, and Warfield

E3-5 (Adjusting Entries) The ledger of Duggan Rental Agency on March 31 of the current year includes
the following selected accounts before adjusting entries have been prepared.
Debit
Credit
Prepaid Insurance
$3,600
Supplies
2,800
Equipment
25,000
Accumulated Depreciation - Equipment
$8,400
Notes Payable
20,000
Unearned Rent Revenue
9,300
Rent Revenue
60,000
Interest Expense
0
Salaries and Wage Expense
14,000

An analysis of the accounts shows the following:

1. The equipment depreciation per month is:
2. One-third of the unearned rent was earned during the quarter.
3. Interest accrued for the month on notes payable is:
4. Supplies on hand total:
5. The monthly insurance expiration rate is:

$250
$500
$850
$300

Instructions:
Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts
are: (Omit explanations.)
Depreciation Expense
Interest Payable
Insurance Expense
Supplies Expense
1

Account Title
Account Title
Text / Memo Line - Optional

Amount

Account Title
Account Title
Text / Memo Line - Optional

Amount

Account Title
Account Title
Text / Memo Line - Optional

Amount

Account Title
Account Title
Text / Memo Line - Optional

Amount

Account Title
Account Title
Text / Memo Line - Optional

Amount

Amount

Amount

Amount

Amount

254384153.xlsx.ms_office, E3-5, Page 3 of 7, 12/10/2014, 12:09 PM

Amount

Name:
Date:
Instructor:
Course:
Intermediate Accounting, 15th Edition by Kieso, Weygandt, and Warfield

E3-8 (Adjusting Entries) Andy Roddick is the new owner of Ace Computer Services. At the end of
August 2014, his first month of ownership, Roddick is trying to prepare monthly financial statements.
Below is some information related to unrecorded expenses that the business incurred during August.
1. At August 31, Roddick owed his employees salaries $1,900 in wages that will be paid on September 1.
$1,900
2. At the end of the month he had not yet received the month's utility bill. Based on past experience, he
estimated the bill would be approximately:
$600
from a local bank on a
3. On August 1, Roddick borrowed
$30,000
15
-year mortgage. The annual interest rate is
8%
covering August charges is unpaid at
4. A telephone bill in the amount of
$117
August 31.
Instructions:
Prepare the adjusting journal entries as of August 31, 2014.
Amount

Account Title
Account Title
Text / Memo line
Account Title
Account Title
Text / Memo line

Amount

Account Title
Account Title
Text / Memo line

Amount

Account Title
Account Title
Text / Memo line

Amount

Amount

Amount

Amount

254384153.xlsx.ms_office, E3-8, Page 4 of 7, 12/10/2014, 12:09 PM

Amount

Name:
Date:
Instructor:
Course:
Intermediate Accounting, 15th Edition by Kieso, Weygandt, and Warfield

P3-2 (Adjusting Entries and Financial Statements) Mason Advertising Agency was founded in January
2010. Presented below are adjusted and unadjusted trial balances as of December 31, 2014.
MASON ADVERTISING AGENCY
Trial Balance
December 31, 2014
Unadjusted
Debit
Credit
Cash
$11,000
Accounts Receivable
20,000
Supplies
8,400
Prepaid Insurance
3,350
Equipment
60,000
Accumulated Depreciation - Equipment
$28,000
Accounts Payable
5,000
Interest Payable
0
Notes Payable
5,000
Unearned Service Revenue
7,000
Salaries and Wages Payable
0
Common Stock
10,000
Retained Earnings
3,500
Service Revenue
58,600
Salaries and Wages Expense
10,000
Insurance Expense
Interest Expense
350
Depreciation Expense
Supplies Expense
Rent Expense
4,000
Totals:
$117,100
$117,100

Adjusted
Debit
Credit
$11,000
23,500
3,000
2,500
60,000
$33,000
5,000
150
5,000
5,600
1,300
10,000
3,500
63,500
11,300
850
500
5,000
5,400
4,000
$127,050
$127,050

Instructions:
(a) Journalize the annual adjusting entries that were made. (Omit explanations.)
Account Title
Amount
Dec 31
Account Title
Dec 31

Account Title
Account Title

Amount

Dec 31

Account Title
Account Title

Amount

Dec 31

Account Title
Account Title

Amount

Dec 31

Account Title
Account Title

Amount

Amount

Amount

Amount

Amount

254384153.xlsx.ms_office, Problem 3-2, Page 5 of 7, 12/10/2014, 12:09 PM

Amount

Name:
Date:
Instructor:
Course:
Account Title , 15th Edition by Kieso, Weygandt, and Warfield Amount
Intermediate
Accounting
Dec 31
Account Title

Dec 31

Account Title
Account Title

Amount

Amount
Amount

(b) Prepare an income statement and a statement of retained earnings for the year ending December 31, 2014 and
an unclassified balance sheet at December 31.
MASON ADVERTISING AGENCY
Income Statement
For the Year Ended December 31, 2014
Revenues
Account Title
Expenses
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Total expenses
Net income

Amount
Amount
Amount
Amount
Amount
Amount
Amount
Formula
Formula

MASON ADVERTISING AGENCY

Statement of Retained Earnings
For the Year Ended December 31, 2014
Retained Earnings, Jan 1
Title
Add:
Retained Earnings, Dec 31

Amount
Amount
Formula

MASON ADVERTISING AGENCY

Balance Sheet
December 31, 2014
Assets
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Total Assets

Amount
Amount
Amount
Amount
Amount
Amount

254384153.xlsx.ms_office, Problem 3-2, Page 6 of 7, 12/10/2014, 12:09 PM

Formula
Formula

Name:
Date:
Instructor:
Course:
Liabilities
Stockholders'
Equity
Intermediate Accounting, 15th Edition
by Kieso,and
Weygandt,
and Warfield
Liabilities
Account Title
Account Title
Account Title
Account Title
Account Title
Total Liabilities

Amount
Amount
Amount
Amount
Amount

Stockholders' Equity
Account Title
Account Title
Total liabilities and stockholders' equity

Amount
Amount

(c) Answer the following questions:

(1) If the note has been outstanding

Formula

Formula
Formula

months, what is the annual interest rate on that note?

Enter text answer here.

(2) If the company paid

$12,500
Wages Payable on December 31, 2013

in salaries and wages in 2014, what was the balance in Salaries and

Enter text answer here.

254384153.xlsx.ms_office, Problem 3-2, Page 7 of 7, 12/10/2014, 12:09 PM