Worksheet 94 Trial Balance Audit

In this worksheet, enter formulas that:

♦ Summarize the account balances of the original Trial Balance before new Adjustments were added.

♦ Summarize the new Adjustments to the accounts.

♦ Calculate the final adjusted balance accounts of the Trial Balance.

Figure 2-6 shows the worksheet and its formulas.

Microsoft Excel - Financial Statements j File Edit View Insert Format Tools Data Window Help

Microsoft Excel - Financial Statements j File Edit View Insert Format Tools Data Window Help

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s

P

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F-

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S

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Trial B

alance

Adjustments

Adjusted ¡il.il Balance

2

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Credit

Debit

Credit

Debit

Credit

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HP

3,33I,4BB.32

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Difference

10661.63

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6

Tcitais Mel Income-Accounts

1,585-235.00

2,252:532.0

6,500.00

61500.00

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Net Inçs'iïié?-

0.00

267,237,00

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0.00

267,237.00

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9

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Formulas In Row 3

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Formulas in Row 6 -<

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Figure 2-6: Worksheet 94 — Trial Balance Audit

Figure 2-6: Worksheet 94 — Trial Balance Audit

Use the SUMIF formula to calculate the Net Income balance (refer to rows 6 and 7 in the figure above) based on the Trial Balance before and after new adjustments were added. This formula summarizes the figures by finding all the account numbers that are greater than 4000 (account numbers 4000 to 4999 represent sales and other income, while account numbers greater than 5000 are used for expenses).

Chapter 3

Chapter 3

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