In a spreadsheet why replace cell references with names? Paste a simple example of a formula using names rather than cell references. For example Sales less Expenses = Net Income. Or create your own example. Q2-2 How can negative numbers be displayed in brackets; in red? Paste a simple spreadsheet example. Q2-3 Why should an accountant design spreadsheets with a completely separate data entry area and a separate report area? Paste a simple spreadsheet example. Q2-4 What is an 'IF' statement (function)? Provide a spreadsheeted accounting example. Q2-5 Microsoft Excel is an example of spreadsheet software. List four further examples of spreadsheet software. The group of questions above can be answered from any source including internet resources. Q2-6 Explain the essential differences between perpetual and periodic inventory systems. Give examples of products/situations suited to each. Watch the 3 videos on Inventory in Interact2 Resources. Q2-7 Learning Objective: journal entries for a perpetual and periodic inventory systems. Show the journal entries for perpetual inventory systems for the purchase and sale of inventory. Contrast with the periodic inventory system. Watch the 3 videos on Inventory in Interact2 Resources. Q2-8 Watch the Foot Worksheet movie found in Interact2 resources. Watch this video and download the relevant doc file also on Interact2 resources. A. Examine the original data provided below. Change every number and enhance/improve the example to prepare a ten column spreadsheeted worksheet and the Financial Reports (Income Statement and Balance Sheet). Follow the spreadsheet requirements including a separate data entry and report area and implement IF functions wherever appropriate. As usual, paste the normal view and the formula view. Q2-9 List and explain three accounting principles or concepts relevant to inventory. Give your own examples. Q2-10 List and explain the four major inventory costing (flow) methods. Q2-11 Create a well designed spreadsheet to solve the following assuming periodic inventory. Make several of your own changes to the original data and create a new solution. Paste the two solutions and one formula view. Highlight your changes. Q2-12 Learning Objective: thinking about internal control issues. How is the separation of duties an example of internal control? Give examples. Q2-13 Bank Reconciliation Go to the text page 404. Prepare a well designed spreadsheet to answer P8-3 Dunlap. Change some data to produce a second solution. Paste the two solutions and one formula view. Q2-14 Learning Objective: journalising accounts receivable entries. Detail the journal entries needed to show sales on credit, the collection of part of the amount owing, the write off of accounts receivable, the reinstatement of an amount written off and the collection in full of the amount owing. Create your own numbers. A spreadsheet is not required. Q2-15 Contrast two different methods of calculating bad debts. Create simple examples. Q2-16 How can we use receivables to evaluate a firm's financial position? Q2-17 Percentage of sales method for bad debts: Spreadsheet not required. Following are some selected transactions of David Jones (DJ) during 2013 and 2014. Reporting date is 31 December. DJ uses the allowance method and makes adjusting and closing entries on reporting date. 2013 31 December DJ estimated that bad debt expense for the year was 3% on credit sales of $1,300,000 and recorded that amount as expense. 31 December Made the closing entry for bad debt expense. 10 January DJ sold $7,000 of inventory to Mills & Brown (MB) on account (Ignore cost of sales). 2014 20 June DJ wrote off the receivable from MB after repeated efforts to collect. 25 July DJ also failed to collect $13,000 receivables from BK and $10,000 from MM and see no hope to collect them in future. 15 August DJ received an apology letter for paying late and $7,000 from MB. 31 December DJ estimated that bad debt expense for the year was 1.5% on credit sales of $2,000,000, and recorded that amount as expense. 31 December Made the closing entry for bad debt expense. Required: 1. Open general ledger T accounts for Allowance for doubtful debts and Bad debt expense. All accounts begin with a zero balance. 2. Record the transactions in the general journal and post to the two ledger accounts. 3. The 31 December 2014 balance of Accounts receivable is $500,000. Show how Accounts receivable would be reported on the balance sheet at that date. Q2-18 Write a scenario which includes a credit sale, a conversion to a Note receivable, the dishonour of the note and subsequent delayed payment. Include journal entries. Create your own simple numbers. Q2-19 What kind of account is Goodwill, Bad debts, Accounts payable, Allowance for bad debts, Accumulated depreciation? Explain. Refer to the P A L E R mnemonic Q2-20 Work Integrated Assessment case study McDonald's Annual Report Learning Objectives: The subject you are studying is vocational. It is designed with the workplace in mind. Work integrated assessment provides opportunities for students to link theory and skills learned in a subject to a real work context. Students can use these opportunities to develop and practice the professional and academic skills they learn about in a subject or through the online environment and then be assessed on their capabilities in these simulated authentic environments. Work integrated assessment allows students to simulate and situate their learning in an authentic workplace that encourages them to explore their knowledge and apply it to practice. Integrating real world, authentic assessment tasks allows students to learn about the particular environments and culture of their chosen professions, while at the same time absorbing and practicing the skills they need to succeed. Doing these tasks can help students develop skills that can help their employability. Resources for this task include the 2013 Annual Report for McDonald's Corporation. Your friend Jack is studying architecture at another University and knows very little about accounting and annual reports. Jack's uncle gave him $20,000 recently to invest. Jack knows you have begun studying accounting and is considering buying McDonald's shares. Jack has looked at the McDonald's annual report for 2013 and has some questions for you. Present your answers concisely in a business report format. Jack's questions: 1. How many customers do McDonald's have each year? 2. What are the total assets for 2013? 3. Find the Balance Sheet and identify the amounts and explain: Goodwill, Prepaid expenses, Income taxes and Accrued Payroll. 4. Calculate the Working Capital ratio. 5. Go to page 51 of the annual report. Create this chart in Excel showing columns. paste the spreadsheet graph in your assignment