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Unformatted text preview: Student’s Name: Excel Tutorial No. 1
Structured Spreadsheets (10 points)
Requirements: 0 To receive credit for a component, you must meet all requirements for the component. No
partial credit is granted. Each component is graded with an “all or nothing” criterion. 0 Required documents must be attached to this requirements’ sheet in the order listed. Points
will be deducted if pages are out of order! I This requirements” page must be stapled to the front of the documents you are handing in.
Points will be deducted if this requirements page is missing or if the pages are not stapled
together! Printing and Spreadsheet Headers and Footers (4 points) Are printouts of the Input, Calculation, and
Re 011 s readsheets attached to this form? Do the spreadsheets contain the correct values?
Are the Spreadsheets properly formatted? Dees each spreadsheet include the appropriate
headers and footers? Displaying Formulas and Auditing the Workbook (3 points) Are printouts of the Calculation and Report
Spreadsheets that display formulas attached to this form? S o readsheet'?
Are named ranges used in the Report
5 u readsheet? “What If” Analysis (3 points) Re uirement Oka '2 Are updated printouts of the Input, Calculation, and Re ort spreadsheets attached to this form? Does the Input spreadsheet include the new sales volume amount? Do the Calculation and Report spreadsheets —
display correct values that reflect the increased sales volume? Assignment 1
Introduction to Excel References Freeman, D. 1996. How to Make Spreadsheets ErrorProof. Journal of Accountancy. (May): 753?.
Kreie, J. and .l. Pendley. 1998. Spreadsheet Safety. Journal of Accountancy. (November): 3134. Purpose The first purpose of this tutorial is to increase your spreadsheet knowledge. The second, more
important, purpose is to demonstrate how to create wellstructured workbooks that are easily
understood and audited. You will need the knowledge and skills learned from this tutorial for other Excel assignments. Please make sure you fully understand each step that you perform. .lust following the instructions and making key strokes to complete this assignment may cause
problems when you work on other assignments. Knowledge Objectives This tutorial provides an exposure to the following: Basic Spreadsheet Skills 0 Enter and format spreadsheet information o Formulas and Paste Function wizards 0 Working with multiple spreadsheets or workbooks
0 Spreadsheet Viewing options a Print spreadsheets and formula Structured Spreadsheets  Use separate Input, Calculation, and Report spreadsheets to increase the accuracy of
spreadsheets Vocabulary Spreadsheet A table of cells arranged in rows and columns. Cells can have predeﬁned
relationships with other cells, where changing the coments of one cell
automatically changes related cells. Workbook Powerful spreadsheet programs allow the creation of multiple Spreadsheets
within the same ﬁle. Files that contain several spreadsheets are called
workbooks. However, while these deﬁnitions distinguish between
Spreadsheets and Workbooks, most people use the terms interchangeably! Spreadsheet Introduction Spreadsheet and Workbook programs automate many of the tasks required of accountants
and business professionals. For example, spreadsheets allow you to manipulate numbers,
perform “what if" analysis, and make tabular reports. Spreadsheets are pervasive in today’s
business environment. Professionals are expected to understand how spreadsheets work, to
recognize and develop welldesigned spreadsheets, and to effectively use spreadsheets to solve
problems. Being able to effectively apply spreadsheets to problems will make you more
productive, both in your life as a student and your life as a professional. The goal of this tutorial,
therefore, is to introduce you to the fundamentals of spreadsheets. Spreadsheets have had a tremendous impact on the business World. Early personal
computers were used only by hobbyists who were simply intrigued with the technology.
Businesses did not begin to use personal computers until the first successful killer application, a
program that revolutionizes how a common problem experienced by many is solved, was created.
VisiCalc, the ﬁrst spreadsheet program, was the original killer application that started the
personal computer revolution. Unfortunately, the creators .of Vi siCalc failed to copyright their invention and do not receive any royalties on the millions of spreadsheet programs sold each year! Moral of the story:
remember to copyright the next “killer application" you create. Experienced spreadsheet users will be familiar with some of the material covered in this
tutorial. However, experienced spreadsheet users rarely consider the design implications of the workbooks they create, which is a major component of this tutorial. 'l‘herefor, both new and
experienced spreadsheet users will beneﬁt from this tutorial. Using Excel This section provides a brief Excel overview. While students are always encouraged to be
creative and innovative, creativity will cause serious difﬁculty with this lab. For ease of
reference, the tutorial refers to speciﬁc cells on speciﬁc spreadsheets. If students have not
followed the tutorial exactly, cell references will be meaningless. Therefore, information should
be entered exactly as discussed. Once you have mastered spreadsheets, then you can be creative. Excel Screens 1) Open Excel, which is under Start — Programs — Spreadsheets — Excel — Excel 2003 for most
lab computers.
2) Once Excel has started, use the following narrative and the screen displayed on your computer to acquaint yourself with Excel (see Figure 1). 0 There are lots of functions of Task Pane, e.g. connect Microsoft Ofﬁce Online, show the
recently used ﬁle or create a new document. If you don’t want the task pane shown on the
screen, click the “x” on the right top comer to close it. 0 There are many tool bar buttons at the top of the screen. Each button has an icon or picture that describes the function Excel will perform when you press this button.
Several of these buttons are used in this tutorial. 0 Spreadsheets consists of cells that are organized in columns and rows. Each cell,
therefore, has an address that identiﬁes its location in the spreadsheet. The ﬁrst cell in the
spreadsheet is named Al because it is in column A, row 1. a The Formula Bar displays cell contents. When you use formulas, the cell displays the
result of the formula while the Formula Bar displays the underlying formula. 0 Tabs labeled Sheetl, Sheet2, Sheet3 appear across the bottom of the screen. I Each tab
represents a different spreadsheet. Excel is a workbook program that allows you to use
several spreadsheets within the same file. The tabs allow you to easily access each
spreadsheet. i) Use your mouse to point and click on different tabs.
ii) Because there is no data in our spreadsheet you will not see much of a change when you move from spreadsheet to spreadsheet, but you can see that you are moving
between the spreadsheets. Excel Practice We are going to do some quick data entry to introduce you to spreadsheet concepts and make you more comfortable with the screen displayed on your computer. 1) Three types of data can be entered into a spreadsheet: labels, values, and formulas. Labels 2) are simply text entered into a cell. Values consist ofnumbers entered into a cell. Formulas are calculations or functions entered into a cell. Labels and values appear and print as they are entered. However, Excel’s default setting is to display and print the results of formulas. a) Move to cell Bl of your spreadsheet, enter JAN into this cell press Enter. Move to cell
C 1 , and type FEB. You could continue in this fashion for all of the months in the year. However, Excel has
several shortcuts that can automate data entry.
i) Click on the cell that contains FEB. ii) Move your cursor to the bottom righthand corner of the cell. Your cursor should
change to a small, black plus sign (+). iii) Press and hold down the left mouse button. iv) Move your mouse to the right several cells. You will see a light box around all of the
eells you are highlighting; make sure you are only highlighting cells on the first line. If you are doing this correctly, you should only be able to highlight either one line
vertically or one line horizontally. Release the mouse button. Excel ﬁlls in the months for column headings, and
recognized that you only wanted abbreviations! b) V) Spreadsheets are able to perform calculations on numbers that you have entered, just like a
calculator. a) Move to cell 82 and type =5+6. Notice that the formula bar and the cell itself display the
formula. Press Enter. Excel knows to perform a calculation because the first thing you typed in the cell was an equal sign. Because this was a formula, the screen now displays 11 in cell
B2. ' ' 0) Move back to cell 132, and look at the Formula Bar. Notice how cell B2 displays the
result ofthe formula, ll, while the Formula Bar displays =5+6 formula. b) 3) However, spreadsheets are far more powerful than a simple calculator is. The true power of
spreadsheets lies in their ability to use values from other cells as input values for formulas.
Excel can understand formulas that reference other cells and use their values as a part of a
calculation! a) Move to cell C2. In this cell, we are going to enter a formula that takes the value from
cell B2 and adds 1. b)  Start the formula by typing an equal sign (=). c) Use your left arrow or mouse to move to the cell B2. This'cell should be highlighted with
light moving dashes, and you should see B2 in both cell C2 and the Formula Bar. d) Type a plus sign (+) and notice that B2 is highlighted as solid blue line. 6) Type a l. '  0 Press Enter. You should see a 12 displayed in cell C2. You should be able to see the
formula you created inlthe Formula Bar when you move back to cell C2. 4) Now we want to include formulas in the cells to the right of cell C2 that continue to add 1 to
the value in the cell to the left. While we could manually create a new formula for each cell
as demonstrated in the above step 3, typing each formula is not efficient. Luckily, Excel can
copy formulas. ' a) Click on cell C2. b) Use the mouse to press the COPY button, which is represented with an icon that contains
two documents. c) At the bottom of the screen you should see a message that says “Select destination and
press ENTER or choose paste”. I d) Use your mouse to highlight several of the cells to the right of C2. To highlight several
cells: '
i) Point at the ﬁrst open cell, which should be cell D2.
ii) Press and hold down the left mouse button.
iii) Drag the mouse to the last cell. iv) Let go ofthe mouse button, and press Enter. Notice how the cells display 13, 14, 15,
etc. e) Move to the cells that contain the new formula and watch the Formula Bar. See how the
formula has been copied to all of the cells. ' i) When Excel copies formulas it, by default, copies the relative formula. This means
that the formula we type is actually evaluated by Excel as: “Move One cell to the left
of the current cell, and determine the value of that cell. Add one to this value, and
display the result in the current cell. ” When you copy the formula to cell D2, the
formula process will be the same. However, the address of the cell “one cell to the
left" is now C2, not B2. Excel modiﬁes the formula to show the new address. 5) Close this spreadsheet (File  Close). Choose No when you are asked if you want to save
changes. Structured Spreadsheets As discussed in the readings cited in the References section, large spreadsheets are
notoriously fraught with errors. To avoid such errors, Freeman (1996) suggests using three categories of spreadsheets within a workbook. First, lnput spreadsheets serve as a single point of
data input for a workbook. The Input Spreadsheet contains the numbers users manually enter or
frequently change. Second, Calculation spreadsheets are used to manipulate the numbers from
the Input spreadsheet. Separate Calculation spreadsheets allow space to break long formulas into
smaller, component formulas that are much easier to audit. Third, Report spreadsheets display information from the Input and Calculation spreadsheets and present the information in a
meaningful manner. The Merchant of Venice Cash Flow Forecast Case After several days of rigorous analysis, personal introspection, and a
short session with a Magic 8Ball®, the Merchant of Venice developed
forecasts for her new business. The remainder of this tutorial walks through the
steps required to develop, audit, and print a wellstructured workbook that forecasts future cash flows for the Merchant of Venice. In the following pages of this tutorial,
you will:  Create a new workbook with Input, Calculation, and Report spreadsheets.  Create an Input spreadsheet that contains labels and values for the forecasts developed by the Merchant. The Input spreadsheet will initially look similar to Figure 2. The input sheet will
then be formatted to appear similar to Figure 3. I o Create a Calculation spreadsheet that manipulates information from the Input Spreadsheet.
The ﬁnished Calculation spreadsheet will look similar to Figure 4. o Create a Report Spreadsheet that is formatted as a traditional ﬁnancial report. Figure 5
depicts the completed Report spreadsheet. ‘ 0 Print the workbook and create Headers and Footers for each of the spreadsheets.  Change the Excel diaplay settings to display formulas, instead of the outcome of the
fom‘iulas. Figure 6 depicts a spreadsheet displaying formulas instead of values. 0 Perform a “What If” scenario. You will change one of the input values and see how the
spreadsheet is automatically updated. Create a New Workbook The first step in creating a wellstructured workbook consists of creating a new workbook, naming spreadsheets, and saving the new workbook. I} Use your mouse to click on the New icon to open a new Excel workbook. D 2) Next, the spreadsheets should be named, as the default Sheet], Sheet2, and Sheet3 are not *““"“"“’"‘"‘“
very descriptive.
a) Double click on the Sheetl tab. The tab will turn black and the text will turn
 white, _ limit b) Once the tab has been selected, or turns black, simply type the new name for the tab,
which is Input. c) Press Enter. d) Change the names of Sheet2 and Sheet3 to Calculation and Report, respectively. Figure 2
depicts a workbook with the changed spreadsheet names. Important 3) Save your spreadsheet by pressing the Save button. When prompted, save the Spreadsheet
with the name “MOV Structured Spreadsheets by YourFirstName YourLastName.” For
me. the file name is “MOV Spreadsheets by Janie Chang.” a) It is important that you use the correct name for your file. You will be accused of cheating if you turn in assignments that use incorrectly named ﬁles. Create an Input Spreadsheet Once the new workbook has been created, we can begin to complete the Input
spreadsheet. The process of creating the input spreadsheet includes entering and formatting the
text labels and titles and entering and formatting the numeric input values. In her forecasting process, the Merchant identiﬁed several key items that affect her business’s
cash ﬂow. Since each of the following items contain new information provided by the Merchant,
they are all included in the Input Spreadsheet.  Outsider Investment — The Merchant hopes to borrow money from outside investors. 0 Amount Spent on Ships — The Merchant plans to purchase a boat that will be used to
transport silk from China. I Forecasted Sales, in Bolts — Based on market research, the Merchant forecasted the number
of bolts of silk she plans to sell each year. 0 Sales Price per Bolt — The market research has also allowed the Merchant to project the price
she will be able to charge forsilk in future years. ' 0 Cost per Bolt — The Merchant has projected the price she will have to pay for silk. 0 Deckhand Cost, per Trip — The Merchant has been monitoring the labor market and
deveIOped forecasts for the cost of deckhands. 0 Cost of Additional Manager — With the anticipated growth, the Merchant plans to hire an
additional manager once sales reach a certain level. Her labor market research has enabled
the Merchant to forecast the cost of an additional manager. Enter and Format Spreadsheet Titles and Labels Now that we know what information the Merchant plans to use in forecasting cash flow, we
can begin the Input spreadsheet. Use Figure 2 and Figure 3 as guides for completing this section.
1) Move to your Input spreadsheet and enter the titles that appear in Figure 2. Simply enter the text as it appears in Figure 2. We will begin to format the text in the next step. a) To move between spreadsheets, you can either click on the Spreadsheet tabs with your
mouse or use the <CTRL><PAGE UP> and <CTRL><PAGE DOWN> key
combinations.  2) Once you have entered the titles and labels, you will quickly notice that the text needs to be
formatted to provide a more pleasant presentation of the information. a) The titles in rows 1 and 2 should be centered over all of the spreadsheet data and their
fonts changed. i) Highlight cells A1 to D1 ii) Click on the Merge and Center button to merge cells A1 to D1 into a single large cell
and center the text within the new cell. iii) While the new cell is still selected, format the text to be bold and 18size font. iv) Use the same process to format the title in row 2, only make the text italic and 14—size
font. til i . b) The year title and the year numbers should be bold and underlined. To format everything
in row 4 at the same time: i) Click on the box that identiﬁes row 4. The entire row will be highlighted. 31 i
ii) When you click on the Bold and Underline buttons, everything in row 4 becomes bold WWW;
and underlined.
c) Column A needs to be widened, as the labels exceed the width of the column and run into
columns B and C. In Excel, column widths can be set manually or Excel can
automatically adjust column widths.
i) First, manually resize column A.
(1) Move your mouse to the top of the sheet and point at the line between column A
and B. Note that the label of column A and the label of row 1 turn to orange. The
normal plus sign cursor will change into a twoheaded arrow.
(2') Hold down the left button and drag the column width to the right until the column
is just slightly larger than the text that appears in column A.
ii) You can also let Excel determine the size of the column. This feature is particularly
helpful when the spreadsheet has many long rows that cannot be displayed on the
computer screen at the same time.
(1) Again, move your mouse to the top of the sheet and point at the line between
column A and B. The normal plus sign cursor will change into a twoheaded
arrow.
(2) Position the doubleheaded arrow on the right end of the orange box that identifies
column A. (3) Double click on orange box and the column is automatically resized. Enter and Format Spreadsheet Values With the titles and labels entered and formatted, we are ready to enter the Merchant’s
forecasted values. 1) Input the values depicted in Figure 3. I
3) Never manually enter dollar signs (‘5) into a spreadsheet. If dollar signs are entered into a
cell. Excel treats the contents as text and cannot use the contents of the cell in formulas.
The dollar signs will be added with special formatting buttons in subsequent steps. ._ g
2) Once the values have been entered, they need to be formatted. a) Format cells that contain dollar values by highlighting the cells and clicking on the Currency Style button. it _ g b) Format the cells containing quantities using the Comma Style button. I i) The Comma Style button default is to display two decimal places. Use the Decrease ''''' Decimal button and format cells that contain quantities to display no decimal places. 3). Once your Input spreadsheet looks like Figure 3, save your workbook and proceed to the next ,_,_,,.W___j
section of the tutorial. Create a Calculation Spreadsheet With the Merchant’s forecasted values entered into the Input spreadsheet, we are ready to
calculate the values required to forecast future cash ﬂows. Enter and Format the Titles and Labels The ﬁrst step in completing the Calculation sheet is to enter and format the required titles and labels.
1) Enter the titles and labels shown in Figure 4 into your Calculation spreadsheet. 2) a) Do not enter any of the values displayed in Figure 4, as formulas will be used to display
most of the values depicted in Figure 4. Format the titles and labels as depicted in Figure 4. a)
b)
C)
d)
e) _ f) The Merchant of Venice title is bold and lSsize font. The Cash Flow Forecast Calculations is italic and l4—size font. The Year titles are bold and underlined. The section titles, e.g. Revenue, Cost of Goods Sold, etc., are Bold. Column A has been manually resized so it is fairly narrow. Making column A narrow provides a nice indentation of the labels entered in column B.
Adjust the width of column B. Enter Formulas With the titles and labels entered into the Calculation spreadsheet, the formulas required to display and calculate the values required to forecast cash flows can be entered. The following narrative provides instruction on how to create the formulas required for each section of the
Calculation spreadsheet. Revenue The Revenue section of the Calculation spreadsheet uses formulas to display the information required to calculate future revenue along with the calculated future revenue. 1) The ﬁrst two formulas required for the Revenue section are very basic formulas that simply
display information that was entered into the Input sheet. a) .l b) To create a formula that displays the forecasted bolts of silk sold in 1492 from the Input
Spreadsheet in the Calculation spreadsheet:
i) Move to cell C? of the Calculation spreadsheet.
ii) Start the formula by typing an equal sign (=). Excel formulas always start with an
equal Sign.
iii) Use the mouse to click on cell B10 of the Input spreadsheet.
iv) Press Enter. _
v) Move back to cell C7 of the Calculation spreadsheet and examine the =InputlBIO
displayed in the Formula Bar. What does this formula mean?
(1) The equal sign signiﬁes the start of a formula.
(2) The Input! tells us the following value comes from the Input spreadsheet.
(3) The B 10 tells us the cell being referenced from the Input spreadsheet.
Create a formula in cell C8 of the Calculation sheet that displays the forecasted sales
price of silk that was entered on the Input spreadsheet. ' 2) Now that we have formulas that display the quantity of the silk we plan to sell and the
forccasted sales price of the silk, we can calculate the total revenue for the year by
multiplying the quantity by the sales price. a) b) Move to cell C9 of the Calculation spreadsheet.
Start the formula by entering an equal Sign (=). c) Use your mouse to click on cell C2, which contains the bolts of silk sold in 1492.
d) Press the asterisk key (*), which means multiply to Excel.
e) Use your mouse to click on cell C8, which contains the sales price of silk for 1492.
i) Notice how the Formula Bar shows the formula that you have created.
t) Press Enter to complete your formula.
g) Cell C9 now displays the forecasted revenue for 1492, $8.00
i) If you have made an error, you may see “#Value” in the cell.
3) While we could go through the process of entering additional revenue formulas for 1493 and 1492, it is much easier to copy the formulas from 1492 into the 1493 and 1494 cells. To copy
the formulas: a) Highlight the 1492 formulas in cells C? to C9. b) Release the mouse button and point at the lower righthand corner of the highlighted
range. The cursor will change to a small, black plus sign (+). c) Press the left mouse button and drag the highlighted box into the 1493 and 1494 columns.
Excel will copy the relative formulas from 1492 to the other 2 years. d) Move among the cells, and study the formulas. See how the formulas changed for each
year.
i) If the cells you wanted to copy the formulas to were not adjacent to the destination cells, you would have to Copy the initial formulas and Paste them to the new regiOn. 4) Once you have all created revenue formulas for all three years, format the cells.
a) Dollar values should be formatted as currency with two decimal places. ' b) Quantities should be formatted as comma style with no decimal places. Cost of Goods Sold The cost of goods sold calculations are very similar to the revenue calculations. Use
formulas to: I
1) Display the bolts of silk sold and the cost of silk from the Input spreadsheet. 2) Calculate the Total Cost of Goods sold by multiplying the number of bolts of silk sold by the
price paid for the silk. 3) Format the cells. I
a) Dollar values should be formatted as currency with two decimal places.
b) Quantities should be formatted as comma style with no decimal places. Required Number of Trips to China _ The Merchant needs to determine the number of trips to China required to meet demand.
The number of trips is calculated by dividing forecasted demand by the capacity of the
Merchant‘s ship. While this formula seems simple at ﬁrst glance, the formula is complicated by
the fact that the Merchant cannot make partial trips to China. For example, forecasted demand in 1494 is 51 bolts and the Merchant’s ship has a
maximum capacity of 10 bolts of silk. Simply dividing the two numbers yields 5.! trips. Can the
Merchant make 5.1 trips? No! To meet demand, the Merchant is required to make 6 trips. The
below narrative describes how to create a formula that will divide 51 by 10. round the answer up
to the next integer, and return an answer of 6. 1) Create a formula that displays forecasted demand from the Input Spreadsheet in cell C l '5’.
Copy this formula into cells D1? and E17. 2) The Merchant’s ship has a ﬁxed capacity of 10 bolts of silk. Manually enter 10 into cells
C18, D18, and E18. 8) Wait a minute, Freeman’s article (1996) clearly states all input values belong on the Input
spreadsheet! Why am I already breaking rules? The Ship Capacity and Sales Level Requiring Additional Management values are entered on the Calculations spreadsheet to
demonstrate two points: I) First, Spreadsheets often use ﬁxed values for calculations that cannot change. Instead
of placing these values on the Input spreadsheet, where users will either try to change
the values or question what the values mean, they are better placed on Calculation
spreadsheet. ii) Second, many spreadsheet users simply imbed fixed values into formulas. However,
this process makes spreadsheets very difﬁcult to audit. By entering the ﬁxed values into their own clearly labeled rows, users can clearly see what the ﬁxed values mean
and where they come from. iii) Unfortunately, strong arguments can be made to support why users should be able to
change the ship's capacity and the level of sales requiring an additional manager. The Merchant speciﬁed that these values were ﬁxed and that she did plan to change these
values in the future. 3) To create a formula that returns the correct number of trips, we are going to use the Paste
Function wizard to create a Roundup function. a)
b)
c) d) e) f)
s) Click on cell C19 Click Insert on the main bar then select Function . The Function popup window allows you to select the type of function to create. Select a
ROUNDUP function, which is a Math & Trig type of function; or type “roundup” in the box. Then click Go button and select the “ROUNDUP” from its recommended box.
Click the OK button. A ROUNDUP pOpup window appears. The popup window has one box that allows us
to deﬁne a function and a second box that allows us to designate the number of decimal places to round to. — i) Click on the Number box to begin entering the function we want rounded.
ii) We want to divide foreciasted demand by the capacity of the ship so click on cell C 17,
which is the forecasted demand. iii) Type a forward slash (I), which is the symbol most software programs use as a divide
operator. iv) Click on the capacity of the ship, which is in cell C18.
v) Click on the Num_digits box in the popup window. vi) The number of trips needs to be rounded to a whole number. so enter a 0 to designate
that the function is to contain no decimal places. vii) Click OK.
Select cell C19 and take a few moments to examine the syntax used in the new formula.
Use the Insert Function wizard to createsimilar formulas for cells D19 and E19. _ i) While you can easily copy the formula from cell C19 into cell D19 and E19, 11) recreating the formulas using the Paste Function wizard will further your Paste
Function wizard skills. Examine the results in cells C19, D19, and E19 to make sure they are correct. 10 [__._ _ 4) Format the cells.
a) Dollar values should be formatted as currency with two decimal places.
b) Quantities should be formatted as comma style with no decimal
places.
5) Please note that the Excel ROUNDU P function is unrelated to the
function where ranchers gather their cattle together for branding,
inoculation, etc. Deckhand Costs The Deckhand Costs section requires only a few simple formulas. The only new idea
presented in this section is the process of using other calculations from the Calculation
spreadsheet as input. Use formulas to: 1) Display the number of trips required to China from the calculations you performed in the
previous section. . ' a) While these formulas require the number of trips to China to be displayed on the
spreadsheet twice, they do allow us to present all the information required to calculate the
total cost for deckhands in a single section of the Calculations spreadsheet. 2) Display the cost of deckhands per trip from Input spreadsheet.
3) Calculate the Total Deckhand costs by multiplying the number trips by cost per trip.
4) Format the cells. a) Dollar values should be formatted as currency with two decimal places. b) Quantities should be formatted as comma style with no decimal places. Additional Management Costs The Merchant of Venice plans to hire an additional manager once sales exceed 15 bolts of
silk per year. Through the use of a logical IF function, Excel formulas can be created that return
speciﬁed variables baSed on a specified criterion. To create formulas that will automatically
decide when an additional manger needs to be hired and calculate the cost of the additional
manager: ' 1) Enter the sales levels, in bolts of silk, that require an additional manger. The Merchant has determined she will need assistance if more than 15 bolts of silk are sold in a single year.
Enter 15 in cells C2? to E27. ' a) Again, if the Merchant planned to change the sales levels that require an additional
manager, the contents of cells C27l to E2? would be placed on the Input spreadsheet.
2) Create formulas that display the forecasted sales volumes from the Input spreadsheet”. 3} To calculate the number of additional managers required, we will use the Paste Function
wizard to create an IF function. To create the IF function:
a) Select cell C30. b) Click Insert then select Function. c) Select an IF function, which is a Logical function, from the Insert— Function popup
window. d) From the IF popup window, you can See that three items need to be entered.
i) The first item to be entered is the Logical_test. In essence the logical test is a
mathematical expression that is either true or false. For the Merchant, we need to 11 4)
5) 6) 7) determine if the forccasted level of sales exceeds 15 bolts ofsilk. To enter the logical test: (1) Click' on cell C28, which is the forecasted sales volume in bolts of silk. (2) Enter a greater than sign (>). (3) Click on cell C27, which is the level of sales that requires an additional manager. (4) The logical test displayed should be C28>C27. This logical test can be interpreted
as, “is the level of forecasted sales greater than the point where an additional
manager is required?” ii) In the Value_if_true box, we need to enter the result we want displayed when the
logical test is true. If the logical test is true, it means the Merchant is selling more
than 15 bolts of silk and needs to hire one additional manager. Enter a l in the
Value_if_true box. iii) In the Value_if_falSe box, we need to enter the result we want displayed when the
logical test if false. If the logical test is false, it means the Merchant is selling less
than 15 bolts of silk and the Merchant will not hire an additional manager. Enter a 0
in the Value_if_false box. iv) Click OK and examine the formula created in cell C30. Can you make sense of the
formula? v) Use the InsertFunction wizard to create new If functions for 1493 and 1494. (1) While you can easily copy the formula from cell C30 into cell D30 and E30,
recreating the formulas using the Paste Function wizard will further your Paste
Function wizard skills.
Create formulas to display the cost of an additional manager from the Input spreadsheet.
Calculate the Total Cost for Additional Management by multiplying the Number of
Additional Mangers Required by the Cost for Additional Managers.
Format the cells.
a) Dollar Values should be formatted as currency with two decimal places.
13) I Quantities should be formatted as comma style with no decimal places. Once your spreadsheet looks like Figure 4, save your workbook and proceed to the next
section of the tutorial. Create a Report Spreadsheet Once the Input and Calculation Spreadsheets are complete, you now have the information necessary to create the cash flow forecast report. Enter and Format the Titles and Labels The ﬁrst step in completing the Report sheet is to enter and format the required titles and labels. 1) 2) Enter the titles and labels shown in Figure 5 into your Report spreadsheet. a) Do not enter any of the values displayed in Figure 5, as formulas will be used to display
the values depicted in Figure 5. Format the titles and labels as depicted in Figure 5. a) The Merchant of Venice title is bold and 18—size font. b) The Cash Flow Forecast Calculations is italic and 14size font. c) The Year titles are bold and underlined. 12 d) The section titles, e.g. Cash Inﬂows, Cash Outﬂows, etc., are Bold.
c) I Column A has been manually resized so it is fairly narrow. Making column A narrow provides a nice indentation of the labels entered in column B.
t) Adjust the width of column B. Enter Formulas With the spreadsheet titles and labels in place, you can now create formulas to display the
values contained in the Input and Calculation spreadsheets. However, the formulas we have used
so far are relatively ambiguous. For example, the =lnputlBll can be interpreted, but we do not
__k_now exactly what the formula is referencing; To solve this very problem, many spreadsheet
programs allow ranges ofcells to be named. These names are then. usedin formulas. The following narrative provides guidance for pasting names for 1492. Once formulas have been created to paste 1492 values, we will simply copy these lonnulas to the 1493 and 1494
columns. ' 1) To create formulas that copy the named cells that represent Outsider Investment:
a) Move to the Input spreadsheet.
b) Highlight the three cells that contain the amount of outsider investment for 1492 to 1494.
i) While two of these cells are currently blank, all three cells should be included in case additional funds are raised in 1493 and 1494.
i ii) Make sure you highlight all three cells or you will have to delete the range name you
importa—nt create and start over! 0) Deﬁne a name for this range by: i) Select Insert from the main menu. ii) Select Name from the pull down menu. iii) Select Deﬁne. (I) You can press <CTRL><F3D as a short cut for these steps. iv) You can now assign a name to the highlighted range of cells. Excel suggests the
“Outsider_lnvestment” name. Since this is a good description for the values in the
range, all you have to do is press Enter. (.1) Range names cannot contain spaces or hyphens. _ d) Move to 1492 Outsider Investors cell of the Report Spreadsheet, which should be cell C7". c) Start the formula by typing an equal sign (=). 0 Since we have deﬁned a name for the value we want in this cell, you can insert the name
into the formula. i) Select Insert from the main menu. ii) Select Name from the pull down menu. I iii) Select Paste. iv) Select the range named Outsiderjnvestment. v) Press the OK. button. vi) Press Enter to complete the formula. g) When you press enter, Excel displays 0! We know this number is incorrect because
investors provided $15 in 1492. Do not panic! You have merely encountered one ofthe
bugs in Excel. When Excel creates and pastes range names, it defaults to absolute
references. When Excel establishes absolute references it will only copy a value that 13 Important 2) occurs in column B of the source spreadsheet into column B of the destination
spreadsheet. To get a better idea of why the error occurs: i) Move back to the Input spreadsheet. On this spreadsheet, note that the outside
investment amount for 1492 is in column B. While you are at this spreadsheet,
include an additional $5 outsider investment in 1493. Move to the Report spreadsheet. Notice how the additional $5 investment in 1493 is
now appearing in 1492 on the Report spreadsheet! This occurs because the year
columns in'the Report spreadsheet have been shifted to the left by one column.
Outside investment 1492 falls in column C on the Report spreadsheet but falls in
column B on the Input spreadsheet. To correct this problem: i) Click on the 1492 Outsider Investment cell in the Report spreadsheet.
ii) Press F2 to edit the formula. iii) Press <CTRL><SHIFT><ENTER>, hold down all three keys at the same time.
iv) The correct outsider investment of $15 is now diSplayed. Notice how the formula
displayed in the Formula Bar now includes brackets {}.
Since the above section contained the strange Excel bug, the following section walks through
the process of naming and pasting a range name that does not encounter problems due to the
bug. To create a formula that . copies the named cells that represent cash flow from sales:
a) Move to the Calculation spreadsheet.
b) Highlight the three cells that contain the sales amounts for 1492 to 1494.
1) Make sure you highlight all three cells or you will have to delete the range name you
create and start over!
You are going to deﬁnea name for this range so the name can be used later in formulas.
i) Select Insert from the main menu.
ii) Select Name from the pull down menu.
iii) Select Deﬁne.
(1) You can press <CTRL><F3> as a short cut for these steps.
iv) You can now assign a name to the highlighted range of cells. Excel suggests the “Total__Revenuc” name. Since this is a good description for the values in the range,
all you have to do is press Enter. (1) Range names cannot comain spaces or hyphens. Switch back to the Report spreadsheet.
Move to the 1492 Sales cell, which should be cell C8.
1) Start a formula with an equal sign (=). Since we have defined a name for the value we want in this cell, you can insert the name into the formula. i) Select Insert from the main menu. ii) Select Name from the pull down menu. iii) Select Paste. iv) Select the range named Total_Revenue. v) Press the OK button.
' vi) Press Enter to complete the formula. ii) h) C) ' Create and paste named ranges for the values required for the Ship Purchases. Silk Purchases, Deckhands, and Additional Management sections of the Report spreadsheet. 14 a) Since the ship purchases value comes from the Input spreadsheet. remember to use the
<CTRL}<SHIFT><ENTER> key sequence to correct the formula. 4) The total cash inﬂows and cash outﬂows need to be calculated for 1492. To quickly sum the
cash inﬂows:
21) Highlight cells C7 to C9. Yes, you do want to highlight the blank cell C9. E '
b) Press the Auto Sum button.
0) Use the same procedure to total the cash outﬂows. 5) To calculate the Total Annual Cash Flow amounts, use a simple formula'that subtracts total
cash outﬂows from total cash inﬂows. 63’ Copy the formulas from 1492 to 1493 and 1494.
a) Notice how the absolute cell references continue to cause problems with the values copied for Outsider Investment and Ship Purchases. To correct the formulas. highlight these cells and use the <CTRL><SHIFT><ENTER> key sequence to correct the formulas in row _? and row 12. 7) How should we calculate the Cumulative Cash Flow amounts? What is the Cumulative Cash
Flow in the ﬁrst year? The second? The third?
a) For 1492, you can enter a simple formula for the first year’s Cumulative Cash Flow: it is equal to the Annual Cash Flow. Enter this formula now. b) For the 1493, the Cumulative .Cash Flow is the total of both years” cash flows. There are
several ways this could be calculated, each of which would be correct. For this exercise, we are going to use a SUM function from the Paste Function wizard. Our goal is to SUM the Annual Cash Flows for all of the years that have occurred. _ i) Click Insert then select Function and select the SUM function, which is a “Math & I;
Trig” function. ii) The SUM popup window shows the information you need to input from your
spreadsheet. SUM can accept numbers from several ranges within your work sheet,
and even from different sheets within your workbook. In this case, we just want to
sum the numbers in the range from 1492 and 1493 Annual Cash Flow amounts.
Therefore, use your mouse to highlight this these two cells. 0) Once you have highlighted the range, you should see the SUM formula in the Fonnula
Bar. : i) Notice how the function we are creating with the SUM function from the Paste
Function wizard is similar to the functions we made earlier with the Auto Sum button. d) Press the OK button on the function wizard window. e) Verify that the new formula correctly adds the annual cash ﬂows for 1492 and 1493. f) Copy the formula that calculates Cumulative Cash Flow for 1493 to 1494. Verify the
accuracy of the formula that is copied into the 1494 column. You should quickly realize
that this new formula is incorrect, as it provides 3 Cumulative Cash Flow value of
$362.60 when it should be $370.60. Why is the copied formula for 1494 incorrect? i) Move to the 1494 Cumulative Cash Flow cell and evaluate the formula, which should
be =SUM(D18:E18). The formula sums cells D18 to E18, when it should sum cells
C18 to E18. ii) When you copy formulas within Excel, the default is to use relative cell references.
Excel interprets the formula you created in cell D20 as “add the cell two rows above
to the cell two rows above and one cell to the left." When you copy the formula into 15 3) cell E20, it continues to interpret the formula in the same fashion. The formula in cell
E20 is wrong because the 1492’s value is now two cells to the left. g) To correct this problem, we are going to change the 1493 cumulative cash flow formula to use an absolute cell reference.
i) Click on the‘1493 cumulative cash ﬂow cell (Which is D20).
ii) 'On formula bar, type”=” and move your mouse to C20 and click it, then type”+”.
iii) Move—your mouse to D18 and click it. (So the formula shows"=C20+D18")
Press Enter to update the fomrula. Notice that the value for 1493 did not change; you
changed how the formula will be copied.
i) Again copy the formula from the 1493 cumulative cash ﬂow cell to the E494 cumulative
cash ﬂow cell. Cell E20 now displays the correct value of $3?0.60.
i) Click on the 1494 Cumulative Cash Flow cell and examine the formula displayed in
the Formula bar. Notice how the formula begins to sum with the cell in column C.
Once your Report spreadsheet coutains the same values as depicted in Figure 5, save your workbook and proceed to the next section of the tutorial. 1’1) Format the Report Spreadsheet 1) 3'.) . 4)
5) The Report spreadsheet should be formatted nicely so users can easily read the report.
Financial statements are often formatted with dollar signs on the ﬁrst and last lines so readers realize the numbers represent dollar values. Format rows 7. 18, and 20 as currency style with
two decimal places. ' The total lines in ﬁnancial reports are double underlined. In this case, there are two total
lines: Total Annual Cash Flow and Cumulative Cash Flow. To double underline these two
rows: a) Highlight the range that includes both of these rows. b) Press your right mouse button. In all Ofﬁce applications, the right mouse buttOn can be
used to bring up the Smart Menu, which gives you options based upon the work you are
performing. Select Format Cells from the Smart Menu. d) Click on the Font tab. _ e) Select Double Accounting from the Underline pulldown menu. 0 Click OK. . The last number in a column, before the subtotal, is single underlined to show the reader that
the lower number is a subtotal. Underline the Sales and Additional Manager values.
Format the remaining cells as comma style with two decimal places. ' Once your Report Spreadsheet appears the same as Figure 5, save your spreadsheet and move
to the next section of the tutorial. 3) Dolnot be concerned if your spreadsheet displays zeros instead of blanks, or vice versa,
for cells with zero values. 0) Printing and Spreadsheet Headers and Footers To make spreadsheet printouts more descriptive and infomative, additional titles and subtitles can be included on each page printed. It is a good practice to include the following
items in any spreadsheet printout:  The title of the report 16 o ' The time you are printing ' o The date you are printing
0 The workbook name, which is the same as the ﬁle name of the workbook
 The spreadsheet name, which is the name you typed on the spreadsheet tab This section walks through the steps uSed to include all of the above information on each
of your spreadsheet printouts.
1) Move to your Report spreadsheet.
2) Select File then Page Setup...
3) Click on the Headen’Footer tab.
4) To include the title, date, and time in the heading of the spreadsheet: a) Press the Custom Header... button. A popup window displays three header sections. b) In the Center section, type the name you want to give to the spreadsheet. For example,
you could use, “Forecasts of Cash Flows for the Merchant of Venice.” Even if the text
wraps on the screen, it will print on one line on your report. c) Move to the Right section. This area is automatically rightjustified, and we are going to
put the printing date on the top line and the printing time on the second line. '
1) Click on the Calendar button and you should see a code for the date to be printed. ii) Press Enter to force a carriage return before the time is printed. iii) Click on the Clock button and you will see a code for the time to be printed below the _
date code. ' iv) Press the OK button to close the custom header window. 5) To include the workbook name and spreadsheet name in the footer:
_ i) Press the Custom Footer... button. A popup window displays three footer sections. ii) In the left section, press the Workbook Name button. iii) In the right section, press the Spreadsheet name button. iv) Press the OK button twice to return to the spreadsheet.
6) You may now see dotted lines in your spreadsheet. These lines indicate the placement of the page breaks. E 7) To see how your spreadsheet will print, press the Print Preview button. & 5 a) From the print preview screen you can use the magnifying glass cursor to zoom on mwwmii
sections of the report. _ b) Press the Print... button to print your Report spreadsheet.  Create custom headers and footers for the Input and Calculation Spreadsheets that contain the same information you just entered for the Report spreadsheet headers and footers. a) Fortunately, Excel allows you to apply custom headers and footers to multiple
Spreadsheets. First select multiple spreadsheets by left clicking on the 1st sheet tab and
for additional spreadsheet selections, hold the Ctrl key while left clicking on the sheet
tab(s). The spreadsheet tabs will turn white to indicate your selections. Finally, create
custom headers and footers — which will apply to all the spreadsheets selected. 9) Print your Input and Calculation Spreadsheets.
l0) Save your workbook and proceed to the next section. I? Displaying Formulas and Auditing the Workbook One way to audit large spreadsheets is to print the formulas used in the spreadsheets. Once the formulas are printed, the printouts can be used to audit the workbook. 1) 2) 3) Use Help to learn how to display the formulas in the Calculation and Report spreadsheets.
a) Search with the key words of Display Formulas. '
b) Try running the Show me button, if one appears on your search results. Once you have changed the workbook to display formulas, Print the Calculation and Report
spreadsheets. a) Do: not {be concerned with formatting the Spreadsheets so you can see all of the formulas or trying to make each spreadsheet ﬁt on one page. The printouts you create for this step
will look fairly messy. Change the display back to showing the values of the formulas. rather than the formulas
themselves. Protect Spreadsheets Assuggested by Freeman (1996), we have designed this spreadsheet so all changes are made on the Input Spreadsheet. To ensure users do not change the Calculation or Report spreadsheets, these spreadsheets should be configured so they cannot be changed.
To protect the Calculation and Report spreadsheets from changes:
.1) 2) protect. worksheet and gran ten t5 of tacked colts Easeword to unproteet sheet: Move to the Calculation spreadsheet.
From Excel’s Main menu, select Tools  Protection — Protect
Sheet... to bring up the Protect Sheet popup window. 3) Accept the protection defaults and press OK. .
3) Be cautious when password protecting spreadsheets, as 2:25.33?“ “2'5
spreadsheet passwords are frequently forgotten. IFzginmwgi 5315:“:
4) Once you have returned to the Calculation spreadsheet, try to $223313?“
change one of the labels. Once a spreadsheet is protected, users Eﬁﬁiéllzifn'i.'$5
cannot make any changes. ﬂog” To“
5) Use the same method to protect the Report spreadsheet. E
“What If" Analysis Another powerful aspect of spreadsheets is that they allow you to change assumptions, and everything that is calculated from these assumptions changes too. In effect, it takes a little work to develop a good spreadsheet, but you save a lot of time when you need to make
modiﬁcations. For example, the Merchant realized she can sell much more than 1 bolt of silk in 1492. To see how an increase in sales will affect the cash ﬂows, all that you have to do is go to the
Input Values sheet, and change the amount in the first year to the new amount. The following
steps walk through a process where we can easily see the results of changes. 1) It would be helpful to see the Input and Report sheets simultaneously so:
a) Select Window from the main menu. b) Select New Window. This is going to open a second window that also diaplays the
workbook we have created. a 18 2)
3) 4)
_ 5) 6) 7) c) If we want to view both open windows,
i) select Window from the main menu,
ii) Arrange,
iii) Vertical (so they’ll be displayed sidebyside).
d) Now you are looking at two copies of the same spreadsheet. 0n the left window, click on
the Input tab so that the Input sheet will be displayed.
c) On the right window, display the Report sheet.
To change 1492 sales volume, click back to the Input window to make it active.
Change the number of bolts of silksold for 1492 to the last two digits of your SJSU student
ii). If the last two digits of your SJSU ID are less than 15, add 100 to the last two digits of
your SJSU ID. 
See how the output report changes. You can use the arrows at the bottom of the window to
scroll left and right.
Note how the values displayed in the Calculations Spreadsheet changed. For example, the
formulas changed to automatically include the cost ot‘an additional manager in 1492. Print your workbook again so you have documentation of the ﬁnal version. To print the
entire workbook: a) Select File.
b) Select Print. 0) Click on the Entire Workbook option in the Print what section of the Print popup
window. _ '  (:1) Select OK.
Save your workbook. Congratulations You have now completed the Excel Spreadsheets tutorial. Hopeﬁally, this tutorial has
demonstrated how to create a wellstructured workbook and emphasized the importance of
workbook structure. The tutorial should also have augmented your spreadsheet skills. l9 Figure 1 — Initial Excel Screen Formula Bar
displays cell
contents Tools bars of
buttons Exec!  Book! .  ﬁeq amﬁses'vezooLstawg:
BEE"  a._:10’n5l:ca§1.‘a.::.’Ea§‘e €915 I'Irt
T'm'n the web ' Semi—w: _"'P¢;1:lrlara Elan or: cany' {'17: in t D MKSheetiluﬁththShégﬁl/ _
Read? ' Tabs allow you to move between
spreadsheets Figure 2 — Unformatted Input Spreadsheet Titles and Labels
\ Hictosoft Excel — HOV Structured Spleadsheel: by John Doe
zl’ifiee e: I. " 1 492 1 493 1494 mount Spent on Ships orecasled Sales, in Bolts
1__1_ Sales Price per Bolt Cost per Belt
.13..
4 EDeckhand Cost. per Trip “30031 of an Additional Manager m... uhinput.£§ﬂemi€3magz Figure 3 — Input Spreadsheet
\i Hicrusufl Excel H [W subci'mea'Sp'rusheibyaohn Doe ii @353 313;; w. Jiajﬁag. rial 1492} 14 3 14 43 ' 15.00; Amount Spent en Ships Elm Forecasied Saies, in Belts 1
_1__1 ESales Price per Bell 5 3m
_1_g;Cost per Bolt . 5 4.III .
E 'lghDeckhand Cost, per Trip $ Cost of an Additional Manager $ Figure 4 —Caculation Spreadsheet Hicrnsoll Excel — HEW Structured Spreadsheets by John Doe22 Elle ' Igiewl insert Fgrma't [dale i I u I' i .. ..... .......... .: .... .: ....... ....... .... .l ...... ..... .................. ........... ..... .. .
_1_ Merchant of Venice Cash Flow Forecast Calculations 3 _'__'_'_'g'i_ :1 ear 1492 1493 1494
54 Revenue Bolts of Silk Sold 1 25 51 Sales Price per Bolt $ 8.00 15 9.00 $ 10.00 Total Revenue _ 1}} 000 El; 234.00 $ 510.00
"10'! . . ' __1;‘1W§Cnst of Goods Sold _ Bolts of Silk Sold 1 ' 2B 51 Cost per Bolt $ 4.00 $ 4.25 $ 4.50 Total Cost of Goods Sold $ 4.00 $ 110.50 $ 229.50
15
Required Number of Trips to China Bolts of Bill: Sold _ _ 1 2E 51
“10‘; Ship Capacity, in Bolts _ _ _ _ 10 10 10
.19 Required Number of Trips 1 3 E ' " " __2_1___§Deckhand Costs _ Number ofTrips Required 1 3 E Deckhand Cost perTrip $ 3.00 $ 3.40 $ 3.?0 Total Deckhand Costs _ $ 300 $ 10.20 $ 22.20
25 E _ ' A‘gﬁjﬁdditional Management Caste
211 Sales Level Requiring an Additional management 15 15 15 Bolts of Bill: Sold _ 1 25 51 ’ Number of Additional Mangers Required  1 1 Cost for Additional Managers $ 500 $ 3’00 $ 1'00
32;. Total Cost for Additional Management $  $ 1’00 5 1’00 11.1Euleeiatzx.esteemﬂeet '
Ready Figure 5 — Report Spreadsheet ercheht of Ven Cash Fiew Forecast ' m 1._4§£
. mil1W5 . .
Outsiderlnwesimenl $ 15_.00__ Sales ; . ..
TDialCashlnﬂows ' 23.0 3 : " _‘:Cash0uﬂ_lnws _ ! Ship Purchases _ 8.00 . g silkchhaSeS. . 490 .. . 5.3.: Deckhan'ﬁs .. .909 “42.05. 3229. Additionai Management: . fetal Ca_sh Outﬂews  15.00. 12?.70 250.70 __ i fdhlh‘hnuaiéashnnw $ 3.00 $111.30 $25130 " ' " . _ _:20.3(1uniulati\te Cash Flow '3 £3.06"? £119.30 ' $30.69 ' "K'Lééﬁ'ﬂéfeﬁkﬂsmﬂ Figure 6 — Report SpreadsheetFormulas I III'Iicmshﬂ Erin:I  HEW Strc!red Spmadsheel: by Jo Dee" Merchant of Venice
Caqh Fa'ow Forecast 1492 1a 3 Ouisuder invesimenl =0uiSideLime5ifﬁeni=Oulsid9r_mesireen€=Outsider_lnvesimeni
Sale; _ =Igt_al Revenue _ =Igjalﬁwenue _ Dial Revenue
Taial Cash Inﬂows _ _ =SUM(C}T:CEIJ _ __=SUM(D?:DB) I SUMtE?.EBJ 1 .
Ship Purchases =Ameunt_Speni_on_E=Amounl_Speni_on_$=Amount_Speni_nn_E Silk Purchases _ __ __ __ .=TcIIaIﬁgesiﬂoLGpad.=TotaLCDeiﬁofyGoodi=TptaLCosLoLGoed '
Deal(hands =Toiai_Deckhand_Co =Tn__taIVDeekhendmCo§=TotaLDeckhand~Co
Additional Management =Tnlai_Cqsl_iar_Addi' =Toia_Cosl_far_Addi§=Tota_Cust_for_Adcii Total Cash Oulﬁcme _ _ =5QM§QJZQ1§1 IeSLIﬂMﬁQ‘IZDﬁ] i=§ngE1ZE1ﬁl =c9c15 Enema i=EQE1B =C1S =SUM($C1B:D1E) i=SUM($C18:E18]= ...
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This note was uploaded on 12/10/2009 for the course BUS 311 taught by Professor Fas during the Spring '09 term at American University in Bulgaria.
 Spring '09
 FAS
 Accounting

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