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Reporting Adjusted Account Balances using Excel's SUM, Basic Math Functions and Cell Referencing Maple Moving Company has provided a list of its account balances as of December 31, 2016 before year-end adjustments. The Controller has also provided you with a list of year end data to determine the adjusted account balances and has asked you to prepare the adjusted trial balance. Use the information included in the Excel Simulation and the Excel functions described below to complete the task. Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below, if in a blank cell, "=B3" was entered, the formula would output the result from cell B3, or 62,000 in this example. Basic Math functions: Allows you to use the basic math symbols to perform mathematical functions. You can use the following keys: + (plus sign to add), - (minus sign to subtract), * (asterisk sign to multiply), and / (forward slash to divide). From the Excel Simulation below, if in a blank cell "=B3+B4" was entered, the formula would add the values from those cells and output the result, or 113,000 in this example. If using the other math symbols the result would output an appropriate answer for its function. SUM function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges to utilize this function. From the Excel Simulation below, if in a blank cell "=SUM(C3, C4, C5)" was entered, the formula would output the result of adding those three separate cells, or 114,000 in this example. Similarly, if in a blank cell "=SUM(C3:C5)" was entered, the formula would output the same result of adding those cells, except they are expressed as a range in the formula, and the result would be 114,000 in this example. All answers must be entered as a formula. Click OK to begin. OK x Reporting adjusted account balances - Excel FILE HOME INSERT PAGE LAYOUT Calibri 11 ' ' Paste Clipboard FI BIU Font 4 FI FORMULAS DATA % REVIEW VIEW 4 Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Styles Sign In A1 A fx On December 31, 2016, Maple Moving Company had the following balances B D E F 1 On December 31, 2016, Maple Moving Company had the following balances before year end adjustments: 2 3 Cash $ 62,000 4 Accounts Receivable 51,000 5 Prepaid Rent 1,000 6 Prepaid Insurance 750 7 Supplies 67,600 8 Trucks 176,000 9 Accumulated Depreciation 17,600 10 Accounts Payable 37,500 11 Interest Payable 5,000 12 Wages Payable 10,000 13 Unearned Revenue 14 Notes Payable 6,600 100,000 15 Common Stock 66,000 16 Retained Earnings 23,400 17 Service Revenue 167,000 18 Wages Expense 61,000 19 Insurance Expense 2,750 20 Rent Expense 11,000 21 Supplies Expense 22 Depreciation Expense 23 Interest Expense 24 25 Required: A B C D E F 26 Use the above account balances and the following year end data to determine adjusted account balances and prepare an adjusted trial balance. 27 Note: If nothing belongs in a cell, leave it blank. You may include blank cells in calculations. 28 NOTE: After completing the adjusted trial balance, you must click through every remaining blank cell in order to receive a "complete" message when submitting. 29 30 One month of rent used: 31 One month of insurance used: 32 Interest owed but not yet paid: 33 Supplies on hand: 34 Truck depreciation expense 1,000 250 10,800 15,000 35,200 3,500 2,000 35 Unpaid wages earned by employees: 36 Unearned revenue that has been earned: 37 38 39 40 MAPLE MOVING COMPANY Adjusted Trial Balance 41 at December 31, 2016 42 Account Name Debits Credits 43 Cash A B C D E F 44 Accounts Receivable 45 Prepaid Rent 46 Prepaid Insurance 47 Supplies 48 Trucks 49 Accumulated Depreciation 50 Accounts Payable 51 Interest Payable 52 Wages Payable 53 Unearned Revenue 54 Notes Payable 55 Common Stock 56 Retained Earnings 57 Service Revenue 58 Wages Expense 59 Insurance Expense 60 Rent Expense 61 Supplies Expense 62 Depreciation Expense 63 Interest Expense 64 Totals 65 66 67 READY Attempt(s) Sheet1 + # 100% Hint

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