Inserting Missing Data into a Worksheet

question 69

Essay

Inserting missing data into a worksheet.
Certain data are given on the worksheet below, and certain missing data are indicated by the blank lines. Sufficient information is included to fill in the missing data. Each account has a debit or credit balance characteristically normal for that kind of account. Note that the dollar amounts have been reduced to figures of not more than three digits to simplify the arithmetic.
Insert the figures necessary to complete the worksheet in the blanks indicated by an underline. The lines cover both debit and credit columns; be sure to insert the missing figures in the correct column of the blank line. If no figure should appear in a column within a line, indicate this by placing a "0" in one or more columns with a blank line (see sample box opposite Cash).

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Definitions:

Cash Payments

Cash payments refer to monetary transactions in which cash is used to settle the amount owed for goods or services.

Current Liabilities

Obligations or debts that a company is expected to pay off within a year, such as accounts payable and short-term loans.

Decreases

A reduction in quantity, size, or the overall level of an economic indicator or financial value.

Expenses With No Cash Outflows

Costs recognized in the accounting period that do not require an immediate cash outlay, such as depreciation.