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Provide APA references for all questions when you use material which you did not personally create, for all spreadsheets provide both normal and formula views with row and column headings. Use IF...

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Provide APA references for all questions when you use material which you did not personally create, for all spreadsheets provide both normal and formula views with row and column headings. Use IF functions whenever appropriate. See the Spreadsheet Advice PDF, the Inventory videos and the Foot worksheet videos.

Q1Naming cells in spreadsheets (4 marks)
Seesupport.office.com/en-us/article/Define-and-use-names-in-formulas-4D0F13AC-53B7-422E-AFD2-ABD7FF379C64

Create a simple spreadsheet to demonstrate how cell references can use names. Use Sales less Expenses = Net Profit. Show both normal and formula views with row and column headings.

Q2Negative numbers (3 marks)
Paste a simple spreadsheet example showing how negative numbers can be displayed in brackets. Why do accounting financial reports follow this practice? See:support.office.com/en-us/article/change-the-way-negative-numbers-are-displayed-104b47a6-8ae2-471f-8f73-c4b96e7bb146

Q3Separation of data and report areas (5 marks)
Why should accounting spreadsheet reports be designed with a completely separate data entry area and a separate report area? Paste a simple spreadsheet example showing normal and formula views.

Q4IF functions (5 marks)
Reference a YouTube video explaining IF functions. What is an 'IF' statement (function)? Provide a simple spreadsheet accounting example showing an IF function for net profit/net loss.

Q5 Periodic versus Perpetual Inventory Systems (5 marks)
Does the Foot video in Interact2 Resources show Periodic or Perpetual Inventory? How can you tell? Explain the essential differences between perpetual and periodic inventory systems. Give your own examples of products/situations suited to each. (Watch the 3 videos on Inventory in Interact2 Resources).

Q6 Worksheet and financial reports (12 marks)
Write abusiness report(about 600 words) critically evaluating spreadsheets as a tool for accounting. Use Internet resources. Include a section on the advantages and disadvantages of spreadsheets. Refer to the Internet for advice on Business Report structures. ReferenceALLyour sources.

Q7 Application of Inventory flow assumptions (10 marks)

A.Create a manual, handwritten solution. Scan or use your phone to copy and paste an image of your handwritten solution in your word file. If using a smart phone, consider using a free scanning app such as Camscanner, Office Lens or Google Drive or search for an app. Let us know which method you chose. We ask for a handwritten solution because this is the method you will use in the final exam. In the meantime, we want you to acquire spreadsheeting skills.
B.Read chapter 6 Retail Inventory in your text and view the three videos on Inventory. Create a spreadsheet.

Q8Bank Reconciliation (10 marks)
Prepare a Bank Reconciliation Statement from the following data.

A. Create a manual, handwritten solution. Scan or use your phone to copy and paste an image of your handwritten solution in your word file. If using a smart phone, consider using a free scanning app such as Camscanner, Office Lens or Google Drive or search for an app. Let us know which method you chose. We ask for a handwritten solution because this is the method you will use in the final exam. In the meantime, we want you to acquire spreadsheeting skills.

B. Spreadsheet. Paste the normal and formula views. Use an IF function. Then in a second version changeALLthe data and paste the normal view.


Q9Journalising accounts receivable entries (6 marks)
Using your text as a resource, show 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.

Q10Estimating bad debts (4 marks)
Contrast two different methods of estimating bad debts. Create simple examples.

Q11 Computers and Accounts receivable (6 marks)

Explain how computers have become essential to online retailing. Use eBay as an example.

Q12Dishonour of a note receivable (8 marks)

Write a narrative which includes a credit sale, a conversion to a Note receivable, the dishonour of the note and subsequent delayed payment. Then show the T accounts derived from your narrative. Create your own simple numbers.

Q13Work Integrated Assessment case study (12 marks)

Wesfarmers Annual Report 2017
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 2017 Annual Report for Wesfarmers.

Assume you are an investment advisor with accounting expertise. Present abusiness reportanalysing Wesfarmers as a shareholder investment. Include in your report the range of Wesfarmers activities, sustainability issues, financial information and your own charts created from Wesfarmers data using Excel. Show these charts with the data selected by you. Show two different chart styles. Ensure you use a business report format. Include images in your report,

You report will be about 600 words excluding appendices, charts and images.

Find the Wesfarmers 2017 Annual Report on the web.

www.wesfarmers.com.au/docs/default-source/default-document-library/2017-annual-report.pdf

Quality of presentation of the total assignment including referencing throughout and bibliography is weighted at 10 marks.


Answered Same Day May 02, 2020

Solution

Abr Writing answered on May 06 2020
146 Votes
Assessment 2
Solution 1: Naming the cells in Excel worksheet
In Microsoft excel’s spreadsheet system there can be various reasons because of which the naming of the cells is being done. Given below are the reasons for this:-
· Remembering the cells’ names (For ex. Expense) is quite easy and convenient when compared to remembering the range of the cell’s address (For ex. C1:C22)
· Classification of the cells can be done by their respective names based on their selection
· Those cells that are named can be very helpful in order to reach the desired area in the worksheet through selecting a name in the particular name box.
· Also it helps in creation of formula by pasting the name of the cells or the name of the range in the formula bar (Gallagher & Sixsmith, 2014).
· The names of the cells make it very much easier to understand the formula and make the use of the formula very easy and convenient. For example, Total sales – COGS can be understood very easily in the place of B10-B11
Normal view
    Particulars
    average cost (in $)
    sales revenue
    30000
    Cost of goods sold
    5000
    gross profit
    25000
    indirect expenses
    2000
    net profit
    23000
     
     
    Formula view:
    
    Particulars
    average cost (in $)
     
    sales revenue
    30000
    
    Cost of goods sold
    5000
    
    gross profit
    -20000
    
    indirect expenses
    2000
    
    net profit
    -21000
    
Solution 2: Negative numbers
There are various methods in the accounting system by the help of which the negative numbers can be showcased. Various approaches are being used by various working groups for displaying the negative numbers in the accounting and financial system. Various ways of showing negative numbers are given below:-
· Figures must be entered by entering a negative sign before those figures
The negative sign which is entered before the digits sometimes it is too tiny that it is not clearly visible when we take out the printout of the concerned document of paper. Hence, while taking out the document’s printout, the negative sign must be clearly visible.
· Red ink use in order to highlight the negative sign
This particular approach is very uncommon as it is not being appreciated much. The reason of its unpopularity is that in most of the workplaces, the printers that are available for day to day office work are mostly only black and white (Horngren, 2009). In such as case, some confusion is bound to occur with respect to the negative numbers while the print out of the documents is being taken out.
· Microsoft Excel, in the cu
ent scenario make use of the most suitable and convenient approach in order to present the negative numbers by making use of the
acket parenthesis which is very helpful in distinguishing the negative numbers. Hence one can easily identify between negative numbers and positive numbers without facing much difficulty.
Solution 3: Separation of report areas and data
The major cause for the separation of data and the report areas in the system of accounting are the explained below:-
· Separating report area and data entry area can help in interpreting the data in a much easy and significant manner. As a result the understanding of it can be achieved very easily.
· The management of the company along with the different external users by having a separate area for reporting is able to identify and extract the relevant output information in a proper manner in order to take appropriate suitable decisions / choices (Ramachandran Rackliffe & Ragland, 2016).
· The figures or the data entered in the spreadsheets of excel can be managed very effectively in the most suitable manner by making the recognitions of the complete selected area.
· Following is the example which will be very helpful in order to understand and present the information in a suitable manner:-
    Transaction data day wise
    Day
    Equity
    Liabilities
    Assets
    1
    $2,500.00
    ($1,000.00)
    $1,500.00
    2
    $2,000.00
    ($250.00)
    $1,750.00
    3
    $1,500.00
    ($390.00)
    $1,110.00
    4
    $1,000.00
    ($680.00)
    $320.00
    5
    $500.00
    ($120.00)
    $380.00
Solution 4: IF Functions
Following is the YouTube video link that being taken into consideration in order to explain the IF Function
https:
www.youtube.com/watch?v=iKN-QpBLkyM
In Microsoft Excel, the IF Function is known to be a logical function which aims at determining the test results for a given logical situation. The results derived from the IF Function are based totally upon the “logical test” based upon different conditions. For example, by the help of the IF Function we can identify...
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