Excel Formatting Tips
1 – Only 1st and last number in each financial statement should contain the $ sign. For Income Statement, that would be Sales and Net Income.
2 – Use comma for thousands. For example, instead of "1000," format as "1,000."
3 – Use whole numbers for financial statements throughout. No pennies.
4 – Use “borders” for underlining instead of “underline” so lines are consistently the width of the entire column; not just the number.
5 – Limit columns. Words should NOT cover over columns, but rather be contained within one column. Adjust column width and indent when appropriate. The only exception would be centering a heading “across columns.”
6 – Use a formula for ALL calculations. You shouldn’t perform any calculations on your calculator or in your head. Set up Excel to perform the calculation for you.
You may find the following recording providing feedback about Excel formatting from the systems case completed in Unit 1.
Directions
- Using Excel, complete a Classified Balance Sheet for Problem 3 in Chapter 4. Problem 3 can be found in the Unit 3: Chapter 3 - 4 Problems for Excel page.
Problem 3 is Question 2. It is provided there so you have the option of completing Problem 3 (Question 2) using WileyPlus to check for accuracy before formatting the financial statements into Excel.
You can also find Problem 3 in your textbook or ebook at the end of Chapter 4. The name of the company for Problem 3 is Eastwood Company. So that should help you verify the problem. - Submit your Chapter 5 Excel spreadsheet.
- Important Links: Ch.4 example problem 2