Instructions for the Microsoft Excel Templates

Be advised, the worksheet and workbooks are not protected.

Extensive detail and information is contained within the manual.

Striking the "F1" key or following the path "Windows>Excel Help" will invoke the Office Assistant and bring up one of
several help menus.

You should enter your name, course ID, and date name into the cells at the top of the page.

Each page contains a page footer with a Page # of Page ## as well as time and date to assist in assembly of multiple
pages.

Each worksheet contains the identification of the problem or exercise.

All formatting should have been accomplished to provide satisfactory presentation. See the text for additional assistance
in formatting.

There should be no need to insert columns or rows into the workbooks.

If more than one page is required by the problem, the page breaks are preset.

In general, the yellow highlighted cells are the cells which work and effort should be presented.

Place the proper account title in the cell where the word "Account title" appears on the template.

Place the value in the cell where the word "Value" or "Amount" appears on the template. A formula may be placed in
some of these cells.

Write a formula into cells where the word "Formula" appears. In these cells, an amount calculated can be entered. An
amount can be placed in these cells.

Place the explanation for the entry in the cell where the word "Text Explanation" appears on the template.

Insert the account number where "Acct Nbr" appears on the template during posting.

Insert the journal reference where "JOURN #" appears on the template during posting.

Insert the title in the cell where "TITLE" appears on the template.

The print area is defined to fit onto 8 1/2" X 11" sheets in portrait or landscape mode as required.

The gray filled cells define the perimeter of the problem and the print area.

The problem is formatted for whole dollars with comma separations (no cents) except where required.

The display may have "Freeze Pane" invoked so column titles remain visible during data entry.

Negative values may be shown as ($400) or -$400.

Consider using "Split" panes to assist in copy and paste of data.

Much of the exercises and problems can have data entered by the "look to" or "=A34" type formula where cell A34
contains the data to be entered. This precludes typing and data entry errors.
 Name: Solution
Course:
Date:
Exercises E4-5 - Income Statement
International Financial Reporting Standards, 1st Edition by Kieso, Weygandt, and Warfield
Solving Financial Accounting Problems Using Microsoft Excel for Windows by Rex A Schildhouse
Exercises E4-5, Presented below is information related to Webster Company ($000 omitted).
Administrative expense
Officers’ salaries $4,900
Depreciation of office furniture and equipment 3,960
Cost of goods sold 63,570
Rental revenue 17,230
Selling expense
Transportation-out 2,690
Sales commissions 7,980
Depreciation of sales equipment 6,480
Sales 96,500
Income tax 7,580
Interest expense 1,860

Instructions:
Prepare an income statement for the year 2010. Ordinary shares outstanding for 2010 total 40,550 (000 omitted).

WEBSTER COMPANY
Income Statement (Partial)
For the Year Ended December 31, 2010
(In thousands, except earnings per share)
Sales $96,500
Cost of goods sold 63,570
Gross profit 32,930
Selling expense
Sales commissions $7,980
Depreciation of sales equipment 6,480
Transportation-out 2,690 $17,150
Administrative expense
Officers’ salaries 4,900
Depreciation of office furniture and equipment 3,960 8,860 26,010
6,920
Other Income and Expense
Rental revenue 17,230
Income from operations 24,150
Interest expense 1,860
Income before income tax 22,290
Income tax 7,580
Net income $14,710

Earnings per capital share ($14,710 ÷ 40,550 shares) $0.36

Exercise 4-5 Solution, Page 3 of 5, 03/28/2021, 23:44:51

 Name:
Course:
Date:
Exercises E4-5 - Income Statement
International Financial Reporting Standards, 1st Edition by Kieso, Weygandt, and Warfield
Solving Financial Accounting Problems Using Microsoft Excel for Windows by Rex A Schildhouse
Exercises E4-5, Presented below is information related to Webster Company ($000 omitted).
Administrative expense
Officers’ salaries $4,900
Depreciation of office furniture and equipment 3,960
Cost of goods sold 63,570
Rental revenue 17,230
Selling expense
Transportation-out 2,690
Sales commissions 7,980
Depreciation of sales equipment 6,480
Sales 96,500
Income tax 7,580
Interest expense 1,860

Instructions:
Prepare an income statement for the year 2010. Ordinary shares outstanding for 2010 total 40,550 (000 omitted).

WEBSTER COMPANY
Income Statement (Partial)
For the Year Ended December 31, 2010
(In thousands, except earnings per share)
Sales $96,500
Account title Amount
Account title Formula
Selling expense
Account title Amount
Account title Amount
Account title Amount Formula
Administrative expense
Account title Amount
Account title Amount Formula Formula
Formula
Other Income and Expense
Account title Amount
Account title Formula
Account title Amount
Income before income tax Formula
Account title Amount
Net income Formula

Title Formula

Exercise 4-5 + Data, Page 4 of 5, 03/28/2021, 23:44:51

 Name:
Course:
Date:
Exercises E4-5 - Income Statement
International Financial Reporting Standards, 1st Edition by Kieso, Weygandt, and Warfield
Solving Financial Accounting Problems Using Microsoft Excel for Windows by Rex A Schildhouse
Exercises E4-5, Presented below is information related to Webster Company ($000 omitted).
Administrative expense
Officers’ salaries $4,900
Depreciation of office furniture and equipment 3,960
Cost of goods sold 63,570
Rental revenue 17,230
Selling expense
Transportation-out 2,690
Sales commissions 7,980
Depreciation of sales equipment 6,480
Sales 96,500
Income tax 7,580
Interest expense 1,860

Instructions:
Prepare an income statement for the year 2010. Ordinary shares outstanding for 2010 total 40,550 (000 omitted).

WEBSTER COMPANY
Income Statement (Partial)
For the Year Ended December 31, 2010
(In thousands, except earnings per share)
Account title Amount
Account title Amount
Account title Formula
Account title
Account title Amount
Account title Amount
Account title Amount Formula
Account title
Account title Amount
Account title Amount Formula Formula
Formula
Title
Account title Amount
Account title Formula
Account title Amount
Title Formula
Account title Amount
Title Formula

Title Formula

Exercise 4-5, Page 5 of 5, 03/28/2021, 23:44:51