Excel Applications for Accounting Principles
4th Edition
ISBN: 9781111581565
Author: Gaylord N. Smith
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Concept explainers
Textbook Question
Chapter 18, Problem 2R
Open the file CVP from the website for this book at cengagebrain.com. Enter the formulas where indicated on the worksheet. Enter your name in cell A1. Save the solution as CVP2 and print the worksheet. Also print your formulas. Check figures: Break-even point in sales dollars (cell C35), $1,616,000; Net income (cell C38), $95,000.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
RESOLVE THIS PROBLEM IN DIGITAL FORMAT (NOT HANDWRITTEN)
Solve the following problem step by step, include the formulas you use and the development please
- A person bought a car for which he paid $ 9500 on January 1 and sells it on June 6 of the following year for $ 16,700. What was the return in% that the investment gave?
I need help answering the questions below...
1. Using the assumptions provided in Excel Spreadsheet, what is the total number of customers generated from this advertising?
2. If Dr. Corneal’s customers spend $300 on average, what is the total revenue generated from this advertising?
3. The cost to purchase the advertising is as follows:
Google Ads: $5,000
Newspapers: $3,000
Magazines: $6,000
Radio: $1,000
Calculate the overall ROI and the ROI per advertising source. How do these number help you plan your advertising budget going forward? To answer this question, define ROI, explain how ROI is used (see your book), apply the numbers you have calculated and show how you would use these numbers for planning purposes.
Note - ROI is expressed as a percent. ROI= (Revenue - Costs)/Costs
ramon hernandez saw the following advertisement for a used volkswagen bug and decided to work out the numbers to be sure the ad had no errors. cash price $7,880 down payment $0 annual percentage rate 14.53% deferred price $11,131.80 or 60 payments at $185.53 per month
a. calculate the amount financed:
b. calculate the finance charge. (round your answer to the nearest cent.):
c. calculate the apr by table lookup. (use table 14.1(b).) (round your answers to 2 decimal places.):
d. calculate the monthly payment by formula. (round your answer to the nearest cent.):
Calculate the monthly payment by table lookup at 14.50% (Use table 14.2 round your answer to the nearest cent):
Chapter 18 Solutions
Excel Applications for Accounting Principles
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Use Goal seek on the loan amount of $825,000. You would like the monthlypayment to be $4500.00. Find a solution for new loan amount, term, and Interestrate. Do not overwrite the Existing data on D3. Hint: Use Cancel when goal seekfinds a solution. Write the solution in the space provided on a spreadsheet.arrow_forwardRamon Hernandez saw the following advertisement for a used Volkswagen Bug and decided to work out the numbers to be sure the ad had no errors. Cash price $7,940, Down payment $0, Annual percentage rate 16.03%, Deferred price $11,586.00 or 60 payments at $193.10 per month. What is the amount financed? What is he finance charge? What is the APR? What is the monthly payment by formula? Calculate the monthly payment by table lookup at 16.00%arrow_forwardThe balance (debt) on your credit card is $4000. Your credit card APR is 18%. You are spending $150 each month. You are paying $450 to your credit card each month. How many months it takes to pay off all your debt (balance)? NOTE: you need to use Excel to find the answer to this problem please share as a pdfarrow_forward
- For TVM calculator: Write each known variable’s value as it appears in the calculator and use a question mark for the missing variable. Then, in the space provided write the missing variable’s value, as it appears in the calculator. Finally, write your final answer in context, with units, as a complete sentence. Patricia deposits $1,000 into an account that earns 4.9% compounded monthly and plans to make monthly payments of $170 into the account. How long must she invest until she has $35,000? N=? I= 4.9 PV=1,000 PMT=170 FV= 35,000 P/Y=12 C/Y=12 Missing Variable Value __________________ Context Sentence:arrow_forwardFor TVM calculator: Write each known variable’s value as it appears in the calculator and use a question mark for the missing variable. Then, in the space provided write the missing variable’s value, as it appears in the calculator. Finally, write your final answer in context, with units, as a complete sentence. Greg has been making regular monthly payments of $425 into an account for 15 years, and he now has $96,000. What is the annual interest rate of his account? N=180 I= ? PV=96,000 PMT= 425 FV= ? P/Y= 12 C/Y=12 Missing Variable Value __________________ Context Sentence:arrow_forwardJUVE ANG Your company has received a $50,000 loan from an industrial finance company. The annual payments are $6,202.70. If the company is paying interest of .09 per year, how many loan payments must the company make? (Hint: Calculating by hand is difficult, try using a calculator/excel/etc.) Instruction: Round to the nearest whole number. E.g., if your answer is 77.77, you should type ONLY the number 78, neither 77.77, nor 77.8. Otherwise, Blackboard will treat it as a wrong answer.arrow_forward
- Solve the following problems without using any software, do everything in digital format, explain the formulas, substitutions and result 1. A company has in its portfolio of assets 10 promissory notes of $ 200 each, with monthly maturities at the end of the month. The company needs liquidity and plans to sell them to a bank, which has accepted the transaction with an interest rate of 24% per year (2% per month). What amount will the company receive if the operation is carried out? In other words, what is the present value of these notes?arrow_forwardOHaganBooks.com generates revenue through it o'Books e-book service. Author royalties and copyright fees cost the company $5 per novel, and the monthly cost of operating and maintaining the service amounts to $651. The company is currently charging customers $7 per novel. Find the associated cost, revenue, and profit functions and use them to determine how many novels must be sold in order to make a profit. (Hint: If the break-even is where they make no profit, you must round up to make a profit.) To make a profit they must sell at least:arrow_forwardcan you please explain how to recognize the revenue if you have the information below using IFRS The A company sells copy machine at a sales price of JPY1,500,000 per unit. The salesprice includes delivery and installation. It also gives a maintenance service (6 years) in which atechnician checks to make sure that the machine is working properly with a price of JPY500,000(one-time prepayment).The A company has started a promotion campaign in which the maintenance service (6years) will be offered for free to a client that buys a copy machine of JPY 1,728,000.The A company has made a contract to sell a copy machine with the maintenance service(6 years) to B company by JPY 1,728,000.arrow_forward
- a computer shop charges P15.00 in every hour of computer rental.Represent your computer rental fee(R) using a function R(t)where is the number of hours you spent on the computer?arrow_forwardEach Section should be completed in a separate spreadsheet tab and all calculations should be performed using Excel formulas: You graduated from college and landed a new job that will start in a couple of weeks. You need to purchase a car to commute to and from your new place of employment. You have decided to buy a car that costs $40,000, and will make a $5,000 down payment, resulting in the need to take out a $35,000 loan with a 5% annual interest rate that you will pay off in equal monthly installments over the next 5 years (60 months). Calculate and provide the following information: a) Calculate the monthly payment on the car loan. b) Prepare an amortization table for the car loan that provides separate columns for the following for each month of the car loan: Beginning loan balance; total payment amount, amount of monthly payment allocated to interest; amount of monthly payment allocated to the principal balance; and ending loan balance. (Your amortization table is likely…arrow_forwardAIX corporation wants to take a loan to finance their expanding project. They approached the bank to request 5 million for that purpese. Vou are a loan officer at a bank that uses the Altman Z score to take the final decision whether to accept the loan application or reject it. Using the below information, find the missing ratios. Based on your results, choose the right decision related to AX loan request. tround to three decimal places) Cash 1,500,000 Inventory 345,000 Account Receivables 10,000 Property, plant and equipment 300,950 Other non-current assets 175,000 Total assets 2,330,950 Account payable 151,000 Current portion of LT debt 110,500 Long-term debt 1,269,500 Other non-current liabilities 365,000 Total liabilities 1,896,000 Common stock 178,500 Retained earnings 256,450 Total liabilities and equities 2,330,950 Additional information: Sales 1,501,400 Earning before interest & 1,033,300 tax 348,500 Equity market value 126 PM 21°C A D 40 ENG 12/28/202arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Excel Applications for Accounting PrinciplesAccountingISBN:9781111581565Author:Gaylord N. SmithPublisher:Cengage Learning
Excel Applications for Accounting Principles
Accounting
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Cengage Learning
Cost-Volume-Profit (CVP) Analysis and Break-Even Analysis Step-by-Step, by Mike Werner; Author: Accounting Step by Step;https://www.youtube.com/watch?v=D0MOfse9OWk;License: Standard Youtube License