# FIN 571 Week 1 Connect Problems (Math Accounting Review) -...

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Math & Accounting Review1.Award: 10 out of 10.00 pointsShow correct answerFunctionsExcel will make your life as a finance student much easier. This section will show how to use various functions in Excel. Once you understand the how and why of a particular financial equation, you can make use of different functions in Excel to solve problems quickly. Brushing up on these concepts now will help you tackle your finance coursework later. Press play to watch the first presentation below. Click on the numbers to navigate through the lesson, and then complete the Concept Check at the end to cement your skills and receive credit.* 1. Which Excel cell entry will calculate the square root of 165?
2. Which statements about Excel’s FV function are correct?
Excel?
2.Award: 10 out of 10.00 pointsShow correct answerThe Balance SheetThis lesson will help you refresh your knowledge on the basics of the balance sheet. Brushing upon these concepts now will help you tackle your finance coursework later. Press play to watch the first presentation below. Click on the numbers to navigate through the lesson, and then complete the Concept Check at the end to cement your skills and receive credit.
General Ledger for XYZ CompanyThe following is a portion of the general ledger for XYZ Company as of December 31,20X1, and the statement of stockholders’ equity for XYZ Company for the year ended December 31, 20X1. Use this information to answer questions (1) through (5).XYZ CompanyStatement of Stockholders' Equity (partial)For the year ended December 31, 20X1CommonStockRetainedEarningsBalance at January 1, 20X1\$50,000\$63,000Issuance of common stock32,000+ Net income for the year ended 12/31/X114,000- Dividends paid(4,900)Balance at December 31, 20X1\$_______\$_______XYZ CompanyGeneral Ledger (partial)As of December 31, 201XAmountAssetsCash\$ 53,000Accounts receivable15,000Supplies8,800Prepaid rent36,000Equipment (net)115,600LiabilitiesAccounts payable\$11,300Salaries payable2,500Interest payable1,900Utilities payable6,900Bonds payable51,700* 1. What is the total amount of current assets to be reported on XYZ Company’s 12/31/X1 classified balance sheet?