Striking the "F1" key or following the path "Windows>Excel Help" will invoke the Office Assistant and bring up one of
several help menus.
You should enter your name, course ID, and date name into the cells at the top of the page.
Each page contains a page footer with a Page # of Page ## as well as time and date to assist in assembly of multiple
pages.
All formatting should have been accomplished to provide satisfactory presentation. See the text for additional assistance
in formatting.
If more than one page is required by the problem, the page breaks are preset.
In general, the yellow highlighted cells are the cells which work and effort should be presented.
Place the proper account title in the cell where the word "Account title" appears on the template.
Place the value in the cell where the word "Value" or "Amount" appears on the template. A formula may be placed in
some of these cells.
Write a formula into cells where the word "Formula" appears. In these cells, an amount calculated can be entered. An
amount can be placed in these cells.
Place the explanation for the entry in the cell where the word "Text Explanation" appears on the template.
Insert the account number where "Acct Nbr" appears on the template during posting.
Insert the journal reference where "JOURN #" appears on the template during posting.
Insert the title in the cell where "TITLE" appears on the template.
The print area is defined to fit onto 8 1/2" X 11" sheets in portrait or landscape mode as required.
The gray filled cells define the perimeter of the problem and the print area.
The problem is formatted for whole dollars with comma separations (no cents) except where required.
The display may have "Freeze Pane" invoked so column titles remain visible during data entry.
Much of the exercises and problems can have data entered by the "look to" or "=A34" type formula where cell A34
contains the data to be entered. This precludes typing and data entry errors.
Instructions:
(a) Compute taxable income for 2010.
(c) Prepare the journal entries to record income tax expense, deferred income taxes, and income taxes
payable for 2010 and 2011. Assume taxable income was $980,000 in 2011.