Expense Recognition

This assignment will provide you with practice identifying situations where expenses have been incurred by a company, and situations where a transaction should instead by recorded to a different account, such as the a prepaid expense account. You will also get practice preparing the journal entries for these transactions.

Relevant Excel Functions

This assignment will require you to be able to use some or all of the following Excel functions. Click on the hyperlinked section number next to the relevant Excel skill to be directed to a page showing how to perform the assigned task in Excel:

• Cell References (1.5)

• SUMIF Function (1.15)

• SUM Function (1.14)

• Drop-Down Lists (1.10)

• Absolute Cell References (1.1)

• Conditional Formatting (1.6)