What worked best to help you to complete the ALL-chapter assignments with details about how you used a resource or why it worked for you?

What worked best to help you to complete the ALL-chapter assignments with details about how
you used a resource or why it worked for you? Some examples would be the step-by-step tutorial
pages, videos, instructor notes, scheduling strategies, working together with peers. If you have
other suggestions to make completing the assignments go more smoothly and efficiently, please
share with your classmates and me what they are and why they work best for you. Post your
original response (a short paragraph is fine) and reply to at least 2 students’
posts. Replies can include comments about how the same method worked for you, additional
tips for using that method, or why that method wasn’t your “go-to” resource.
Students’ Posts:
Student A:
Hi class,
I have completed all the contents in Chapter 1 and achieved 18/20 in Quiz 1. How to say,
connect textbook is a very good online learning software. From reading comprehension to actual
operation, there is a clear plan. You just need to follow the steps to learn and complete the work.
Generally speaking, it takes about 6-7 hours to complete all the assignments in a chapter, but it is
enough for one week of study time. You can easily complete the weekly tasks. This is the best
way I think and most convenient way to learn. You can easily complete your homework by
learning and practicing step by step according to the program.
If you have other learning methods, you are also welcome to discuss them.
Student B:
What worked best to help me complete the Test drive chapter assignment was using the
smartbook to help me get around the website and it explained everything in detail. At first it was
a little confusing but once I reached out to our professor and watched the tutorials videos, I was
able to complete Ch.1 tasks.
Assignment 2:
Many accounting-related worksheets require the same formula to be used in multiple locations.
While certain worksheets, such as those containing a financial statement, are relatively small, others
can extend for thousands of rows. As you learned, the Copy and Paste commands and the AutoFill
option can be used to efficiently copy a formula from one location to another.
Identify four types of accounting-related worksheets (aside from financial statements) for which the
use of relative cell references within formulas would yield a significant benefit. Discuss the structure
of the worksheets and why the use of relative cell references would be beneficial.
Task: Reply to at least 2 students’ posts.
Student C:
Using relative cell references is beneficial when working on accounting worksheets that require
repetitive calculations, large amounts of data, and cover many cells. This Excel feature provides
the advantage of saving time and reducing costly errors. The user can copy formulas to any
accounting worksheet to any cell, column, or row because of the relative cell reference
capability. Using the AutoFill feature to copy across or downwards saves time and reduces the
chances of making transposing, slide, or formula errors. Here are four worksheets that would
benefit from relative cell reference.
1. Accounts Receivable Aging Report:
Provides valuable information on receivables based on the number of days of an unpaid invoice
by the customer by calculating invoice amounts, days outstanding, due dates, and days late. The
IF function can be copied to cells to test for and return specific values. Suitable for checking if
an invoice is past due, then by how many days, and produces values for the company to use in a
report. This report helps management look for collection issues or if selling adjustments are
necessary. Also appropriate for forecasting cash flow, tracking how much money is owed to your
business, and identifying bad debts for write-offs.
2. Bank reconciliation:
This worksheet contains input from the company records and the bank statements to reconcile
and monitor accounts for balances, fraud, or overdrafts. Reconciliation is performed regularly, so
using Excel would save time because the same calculations are done each month. For example,
adding deposits in transit or subtracting insufficient fund fees or bank charges. It would also be
helpful to use the match formula to quickly identify any differences between your books and the
bank statement and copy the formula to numerous cells.
3. Depreciation Schedule:
This schedule lists the asset’s cost and separately shows the depreciation over the asset’s life.
Most companies have many assets to track over a long period. Relative cell references help
simplify the calculation process and make information available for tasks like writing off an asset
or calculating depreciation expense. Since there are different depreciation methods, the formulas
can be copied to all necessary cells and carried over various reporting periods.
4. Payroll Spreadsheet:
A payroll worksheet helps record employee information like name, hours worked, hourly wage
or salary, gross pay, federal and state taxes, net pay, total wage payments, vacation pay, benefits,
and so forth. Since payroll is calculated regularly, it is easier to use Excel to make the same
calculations of important figures each pay period rather than input each time you make payroll.
These worksheets plus more benefit from relative cell reference because the formulas and data
are similar and need to cross over multiple columns or rows. It would be painstaking to manually
enter the same text and formulas for each calculation or worksheet. Using relative cell reference
makes accounting more efficient and allows more time for reviewing and analyzing data.
Student D:
One accounting-related worksheet that benefits from the use of relative cell references within
formulas would be loan schedules. Loan schedules show how much someone would pay for the
month and simultaneously shows how much principle they have left, how much interest they will
have paid within their monthly payment, etc. In the loan schedule, being able to copy and paste
formulas within columns helps create the conditions to automatically create a loan schedule.
People will use the auto sum feature to calculate the total amount of interest one pays from
taking on the loan.
Another accounting-related worksheet that benefits from the use of relative cell references within
formulas would be the determination of the amount of property taxes one pays annually. In a tax
accounting class I took at UCSB, we made an Excel sheet to determine the amount of property
taxes a Californian homeowner would have to pay as a result of Prop 13. We had to calculate
taxes either by the lower of the assessed value of the home (which increases 2% annually) or the
market value of the home. The Copy & Paste feature was useful when we have to copy the
formulas that we wanted to use when using the market value of the home to determine the
property tax and on other years, we would use the Copy & Paste feature when using the assessed
value of the home.
The third accounting-related worksheet that benefits from the use of relative cell references
within formulas would be the documentation of payroll. The Autofill feature is convenient when
we want to fill in names of employees in various tables repeatedly. Employees’ names would be
written along with the times they clocked in and clocked out and then we’d have another table
that lists the employees’ names and the total amount of hours. If firms are detailed on the exact
types of tasks an employee did, we would have multiple tables calculating how many hours were
spent on a certain task and who did those tasks and how many hours they spent on that task. With
many tasks and many tables all detailing what each person did, the Autofill feature is very
helpful.
The fourth accounting-related worksheet that benefits from the use of relative cell references
within formulas would be a list of transactions a business has done with a vendor. This function
is usually done through Quickbooks Online, but many small businesses choose to do it through
Excel. In Excel, the vendor name, the transaction number, transaction type, check number, and
amounts are all listed. The “Find and Replace” feature is highly useful in this worksheet because
sometimes the business owner noted the details of a transaction incorrectly and will have an
easier time finding the transaction and changing the details of it.