Microsoft Office Tutorials and References
In Depth Information
Case Problems
Use the skills
you learned
to complete a
balance sheet for
a food retailer.
Case Problem 2
Data File needed for this Case Problem: Halley.xlsx
Halley Foods Michael Li is working on the annual fi nancial report for Halley Foods
of Norman, Oklahoma. One part of the fi nancial report will be the company’s balance
sheet for the previous three years. Michael has entered some of the labels for the balance
sheet. You will fi nish the job by entering the actual values and formulas. Complete the
following:
1. Open the Halley workbook located in the Excel1\Case2 folder, and then save the
workbook as Halley Foods in the same folder.
2. Rename the Sheet1 worksheet as Balance Sheet , and then delete the Sheet2 and
Sheet3 worksheets.
3. Insert two new rows at the top of the worksheet, and then enter the following text on
four lines within cell A1:
Halley Foods
Balance Sheet
As of December 31
For the years 2011 through 2013
4. Change the width of column A to 30 characters, the width of column B to 20
characters, and the width of column C to 26 characters. Autofi t the height of row 1.
5. Enter the asset and liability values shown in Figure 1-34 into the corresponding cells
in the Balance Sheet worksheet for each of the last three years.
Figure 1-34
Halley Foods assets and liabilities
2013
2012
2011
Current Assets
Cash and equivalents
806
589
423
Short-term investments
1,194
1,029
738
Accounts receivable
1,283
1,151
847
Net inventories
683
563
463
Deferred taxes
510
366
332
Other current assets
162
153
128
Other Assets
Investments
7,077
5,811
4,330
Restricted investments
910
797
681
Property and equipment
779
696
420
Other assets
1,178
484
485
Current Liabilities
Accounts payable
350
293
192
Income taxes payable
608
442
352
Accrued payroll
661
564
389
Other accrued liabilities
1,397
1,250
775
Minority Interest
44
43
36
Shareholders’ Equity
Preferred and common stock
5,557
4837
3,515
Retained earnings
5,666
4,007
3,401
Other comprehensive income
299
203
187
 
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