Question : 31.Edson Enterprises wants to know if its profitability performance has : 1244539

Accounting

31.Edson Enterprises wants to know if its profitability performance has improved. Calculate profit margin for 20×7 and 20×8, using the following data:

Net Income, 20×7

Net Income, 20×8

Net Revenues, 20×7

Net Revenues, 20×8

$ 8,600

10,000

160,000

192,000

a. Profit margin, 20×7 ___________

b. Profit margin, 20×8 ___________

c. Using profit margin as a measure, has profitability improved?

32.Susan Kane won the mayoral election in the City of Ashley partly on the basis of her charge that Allen Ross, the former mayor, was responsible for the budget deficit. After taking office, she hired a major international accounting firm to straighten things out. This excerpt appeared in an article from a leading business publication, West End Business Review:

[A riddle]

Q: When is a budget deficit not a deficit?

A: When it is a surplus, of course.

Ashley Mayor Susan Kane was once again caught with egg on her face last week as she and her financial advisers tried to defend that riddle. On one hand, Comptroller Jim Guan [a Kane appointee], explaining $75 million in assets the mayor [Kane] hopes to hold in reserve in the 2007 Ashley city budget, testified in hearings that the city had actually ended 2005 with a $6 million surplus, not the much-reported deficit. He said further that the modest surplus grew to $54 million as a result of tax-enrichment supplements to the 2005 balance sheet.

On the other hand, the mayor stuck by the same guns she used last year on her predecessor. The city had ended 2005, under the Allen Ross administration, not merely without a surplus, but with a deficit. The apparent discrepancy can be explained.

Like most U.S. cities, Ashley operates under a modified accrual accounting basis. This is a combination of the cash basis and the accrual basis. The modified accrual basis differs from the accrual basis in that revenue is recorded when it is collected. The collection of Ashley’s parking tax, which is assessed on all city parking lots and garages, is an example.

The tax is assessed and collected on a quarterly basis but the city doesn’t collect the amount due for the last quarter of 2006 until the first quarter of 2007. Under ideal accrual methods, the parking revenues should be recorded in the 2006 financial statements. Under a cash approach, the revenues would be recorded in the 2007 budget. What the city did before was to record the money whenever it was advantageous politically. That, combined with the infamous revolving funds, allowed the city to hide the fact it was running large deficits under [former] Mayor Ross. That also means that no one really knew where the city stood.

The auditors are now reallocating the parking revenues to the 2007 budget but are accruing other revenues by shifting the period of collection from a year in the past. Overall, more revenues were moved into earlier fiscal years than into later years, inflating those budgets. Thus, the 2007 deficit is a surplus.

The article concluded:

The upshot is that both Mayor Kane and Mr. Guan [the comptroller] were correct. There was a deficit in the 2005 corporate or checkbook fund, but because of corrections taking place now, a surplus exists.

a. Do you agree with the way the auditors handled parking revenues? Support your answer by explaining which method of accounting you think a city should use.

b. Comment on the statement, “Systematically applied accounting principles will allow all to know exactly where the city stands.”

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July 1, 2023

IMPORTANT: If you are a Canadian user, be sure to verify that your browser and Microsoft Office use the same country settings. See here for a Help topic on how to change your settings.

Open the start file EX2019-SkillReview-1-1. The file will be renamed automatically to include your name. Change the file name if directed to do so by your instructor, and save it.
If the workbook opens in Protected View, click the Enable Editing button in the Message Bar at the top of the workbook so you can modify the workbook.

NOTE: If group titles are not visible on your Ribbon, click the Excel menu and select Preferences to open the Excel Preferences dialog box. Click the View button and check the Group Titles check box under In Ribbon, Show. Close the Excel Preferences dialog box.

Explore the workbook. If you accidentally make changes while exploring, press Ctrl + Z to undo the change.
1. Click the worksheet tab labeled Stevens Hours.
2. If necessary, use the vertical scroll bar to scroll down so you can see both weeks of billable hours. (If necessary, use the vertical scroll bar again to return to the top of the worksheet.)
3. Click cell B2 (the cell displaying the staff member’s last name, Stevens). This is the cell at the intersection of column B and row 2.
  1. Note that the column B and row 2 selector boxes highlight.
  2. Note that the status bar displays Ready, indicating that you are in Ready mode.
  3. On the Home tab, in the Number group, look at the Number Format box at the top of the group. Note that the format for this cell is General.
  4. Double-click cell B2 to switch to Edit mode. Note that the status bar now displays Edit, and the blinking cursor appears within the cell. If you needed to, you could edit the text directly in the cell.
4. Press Esc to exit Edit mode and return to Ready mode.
5. Press Enter twice to move to cell B4 (the cell displaying the staff member’s billable rate). This cell is formatted with the Accounting Number Format (or Custom) number format.
  1. Look in the Number Format box and note that the format for this cell is Accounting (or Custom).
  2. On the Home tab, in the Styles group, look in the Cell Styles gallery, and note that the cell style Currency is highlighted. (If the Cell Styles gallery is collapsed on your Ribbon, click the Cell Styles button to display it.)
6. Click cell B8 (the cell displaying the number of hours for Monday, August 5). This cell is formatted with the Custom cell style.
  1. Look in the Number Format box and note that the format for this cell is also Accounting (or Custom).
  2. On the Home tab, in the Styles group, look in the Cell Styles gallery, and note that the cell style Comma is highlighted for this cell. (If the Cell Styles gallery is collapsed on your Ribbon, click the Cell Styles button to display it.)
  3. Note the style differences between cell B4 (Accounting Number Format, Currency style) and cell B8 (Accounting Number Format, Comma style).
7. Click cell B7 (the cell displaying the date 8/5/2019 or 8/5/19). This cell is formatted using the Short Date format. Note that the Number Format box displays Date.
8. Double-click cell B14.
  1. Note that the status bar now displays Edit, indicating that you are in Edit mode.
  2. This cell contains a formula to calculate the daily bill for Monday, August 5: =B12*$B$4
  3. Note that cells B12 and B4 are highlighted with colors matching the cell references in the formula.
  4. Note that the reference to cell B4 is an absolute reference ($B$4).
9. Press Esc to exit Edit mode.
10. Double-click cell B12.
  1. Note that once again the status bar displays Edit, indicating that you are in Edit mode.
  2. This cell contains a formula using the SUM function to calculate the total billable hours for Monday, August 5: =SUM(B8:B11)
  3. In this case, the SUM function uses a single argument B8:B11 to indicate the range of cells to total.
  4. Note that the cell range B8:B11 is highlighted with the color matching the argument in the SUM function formula.
  5. Note that the reference to the cell range B8:B11 uses relative references.
11. Press Esc to exit Edit mode.
12. Press Tab to move to cell C12. Look in the formula bar and note that this cell contains a similar formula to the one in cell B12: =SUM(C8:C11)
13. Press → to move through cells D12 through H12. Note the formula in the formula bar for each cell.
14. Did you notice that the cell references in the formulas in cells C12 through H12 all use relative references?
The Stevens Hours worksheet contains a stacked column chart. Review the chart so you can recreate it on the Swinson Hours worksheet.
1. The stacked column chart to the right of the hours for the week of August 5 represents the hours worked for each client each day.
2. The column height for each day represents the total hours worked. Each column is divided into segments representing the hours worked for each client.
3. The number of hours worked is represented on the y axis. The dates are represented along the x axis.
4. The chart title has been changed to: Week of 8/5/19
Now you are ready to complete the worksheet for David Swinson. Navigate to the Swinson Hours worksheet by clicking the Swinson Hours worksheet tab.
The staff member’s last name is spelled incorrectly. Navigate to cell B2 and edit the text so the last name is spelled correctly (Swinson – with an i instead of an a). Use Edit mode.
1. Double-click cell B2.
2. Edit the text to: Swinson
3. Press Enter to accept your changes.
The billable rate amount is missing. Navigate to cell B4 and enter the rate. Use Ready mode.
1. Click cell B4.
2. Type: 180
3. Press Enter.
Modify the billable rate to use the Accounting Number Format.
1. Press the ↑ to return to cell B4.
2. On the Home tab, in the Number group, click the Accounting Number Format button.
The dates are missing from the timesheet. Enter the first date, August 5, 2019.
1. Click cell B7.
2. Type: 8/5/2019
3. Press Enter.
Use Autofill to complete the dates in the timesheet.
1. Click cell B7.
2. Click the Fill Handle, and drag to cell H7. Release the mouse button.
Change the date format to the 8/5/2019 (or 8/5/19) format.
1. The cell range B7:H7 should still be selected. If not, click cell B7, press and hold Shift, click cell H7, and then release the Shift key.
2. On the Home tab, in the Number group, expand the Number Format list, and click Short Date.
Use the Quick Analysis tool to enter total hours for each day.
1. Select cells B8:H11. Click cell B8, hold down the left mouse button, and drag the mouse to cell H11.
2. Release the mouse button. The cell range B8 through H11 should now appear selected.
3. Click the AutoSum button on the Home tab, in the Editing group.
4. The totals for each column are inserted in row 12 cells.
Format the hours billed section to use the Comma Style number format. Be sure to include the total row.
1. Select cells B8:H12. Try another method: Click cell B8, press and hold Shift, click cell H12, and release the Shift key.
2. On the Home tab, in the Number group, click the Comma Style button.
Enter a formula in cell B14 to calculate the daily bill for Monday, August 5. The formula should calculate the total billable hours for the day (cell B12) times the billable rate (B4).
1. Click cell B14.
2. Type: =
3. Click cell B12.
4. Type: *
5. Click cell B4.
6. Press Command + T to change the cell reference B4 to an absolute reference ($B$4).
7. Press Enter.
8. The formula should look like this: =B12*$B$4
Use AutoFill to copy the formula to the remaining days in the timesheet.
1. Click cell B14 again.
2. Click the AutoFill handle. Hold down the left mouse button and drag to cell H14. Release the mouse button.
3. The formulas in cells B14 through H14 should look like this.
  Table EX 1.4 displays the relative and absolute references for the remaining days in the timesheet.BCDEFGH14=B12*$B$4=C12*$B$4=D12*$B$4=E12*$B$4=F12*$B$4=G12*$B$4=H12*$B$4Notice that when the AutoFill copied the formula, it updated the relative reference (B12) to reflect the new column position, but it did not change the absolute reference ($B$4).
Now you can calculate the bill total for the week by summing the daily bill amounts. Enter a formula using the SUM function with the cell range B14:H14 as the argument.
1. Click cell B15.
2. Type: =SUM(B14:H14)
3. Press Enter.
Use the Recommended Charts feature to insert a stacked column chart representing hours worked for each day for the week of August 5.
1. Select cells A7:H11. Click cell A7, hold down the left mouse button, and drag the mouse to cell H11. Release the mouse button. The cell range A7 through H11 should now appear selected.
2. Click the Recommended Charts button on the Insert tab in the Charts group.
3. Scroll down through all the different chart choices.
4. Click Stacked Column to insert a stacked column chart.
Change the chart title.
1. Click the Chart Title placeholder once to select it.
2. In the formula bar, type: Week of 8/5/2019
3. Press Enter.
Preview how the worksheet will look when printed.
1. Click cell A1 to deselect the chart.
2. Click File on the Excel menu.
3. Click Print... to display the print preview.
4. Click Cancel to close the Print dialog.
Save and close the workbook.
Upload and save your project file.
Submit project for grading.

July 1, 2023

IMPORTANT: If you are a Canadian user, be sure to verify that your browser and Microsoft Office use the same country settings. See here for a Help topic on how to change your settings.

Open the start file EX2019-SkillReview-1-1. The file will be renamed automatically to include your name. Change the file name if directed to do so by your instructor, and save it.
If the workbook opens in Protected View, click the Enable Editing button in the Message Bar at the top of the workbook so you can modify the workbook.

Explore the workbook. If you accidentally make changes while exploring, press Ctrl + Z to undo the change.
1. Click the worksheet tab labeled Stevens Hours.
2. If necessary, use the vertical scroll bar to scroll down so you can see both weeks of billable hours. (If necessary, use the vertical scroll bar again to return to the top of the worksheet.)
3. Click cell B2 (the cell displaying the staff member’s last name, Stevens). This is the cell at the intersection of column B and row 2.
  1. Note that the column B and row 2 selector boxes highlight.
  2. Note that the status bar displays Ready, indicating that you are in Ready mode.
  3. On the Home tab, in the Number group, look at the Number Format box at the top of the group. Note that the format for this cell is General.
  4. Double-click cell B2 to switch to Edit mode. Note that the status bar now displays Edit, and the blinking cursor appears within the cell. If you needed to, you could edit the text directly in the cell.
4. Press Esc to exit Edit mode and return to Ready mode.
5. Press Enter twice to move to cell B4 (the cell displaying the staff member’s billable rate). This cell is formatted with the Accounting Number Format (or Custom) number format.
  1. Look in the Number Format box and note that the format for this cell is Accounting (or Custom).
  2. On the Home tab, in the Styles group, look in the Cell Styles gallery, and note that the cell style Currency is highlighted. (If the Cell Styles gallery is collapsed on your Ribbon, click the Cell Styles button to display it.)
6. Click cell B8 (the cell displaying the number of hours for Monday, August 5). This cell is formatted with the Custom cell style.
  1. Look in the Number Format box and note that the format for this cell is also Accounting (or Custom).
  2. On the Home tab, in the Styles group, look in the Cell Styles gallery, and note that the cell style Comma is highlighted for this cell. (If the Cell Styles gallery is collapsed on your Ribbon, click the Cell Styles button to display it.)
  3. Note the style differences between cell B4 (Accounting Number Format, Currency style) and cell B8 (Accounting Number Format, Comma style).
7. Click cell B7 (the cell displaying the date 8/5/2019 or 8/5/19). This cell is formatted using the Short Date format. Note that the Number Format box displays Date.
8. Double-click cell B14.
  1. Note that the status bar now displays Edit, indicating that you are in Edit mode.
  2. This cell contains a formula to calculate the daily bill for Monday, August 5: =B12*$B$4
  3. Note that cells B12 and B4 are highlighted with colors matching the cell references in the formula.
  4. Note that the reference to cell B4 is an absolute reference ($B$4).
9. Press Esc to exit Edit mode.
10. Double-click cell B12.
  1. Note that once again the status bar displays Edit, indicating that you are in Edit mode.
  2. This cell contains a formula using the SUM function to calculate the total billable hours for Monday, August 5: =SUM(B8:B11)
  3. In this case, the SUM function uses a single argument B8:B11 to indicate the range of cells to total.
  4. Note that the cell range B8:B11 is highlighted with the color matching the argument in the SUM function formula.
  5. Note that the reference to the cell range B8:B11 uses relative references.
11. Press Esc to exit Edit mode.
12. Press Tab to move to cell C12. Look in the formula bar and note that this cell contains a similar formula to the one in cell B12: =SUM(C8:C11)
13. Press → to move through cells D12 through H12. Note the formula in the formula bar for each cell.
14. Did you notice that the cell references in the formulas in cells C12 through H12 all use relative references?
The Stevens Hours worksheet contains a stacked column chart. Review the chart so you can recreate it on the Swinson Hours worksheet.
1. The stacked column chart to the right of the hours for the week of August 5 represents the hours worked for each client each day.
2. The column height for each day represents the total hours worked. Each column is divided into segments representing the hours worked for each client.
3. The number of hours worked is represented on the y axis. The dates are represented along the x axis.
4. The chart title has been changed to: Week of 8/5/19
Now you are ready to complete the worksheet for David Swinson. Navigate to the Swinson Hours worksheet by clicking the Swinson Hours worksheet tab.
The staff member’s last name is spelled incorrectly. Navigate to cell B2 and edit the text so the last name is spelled correctly (Swinson – with an i instead of an a). Use Edit mode.
1. Double-click cell B2.
2. Edit the text to: Swinson
3. Press Enter to accept your changes.
The billable rate amount is missing. Navigate to cell B4 and enter the rate. Use Ready mode.
1. Click cell B4.
2. Type: 180
3. Press Enter.
Modify the billable rate to use the Accounting Number Format.
1. Press the ↑ to return to cell B4.
2. On the Home tab, in the Number group, click the Accounting Number Format button.
The dates are missing from the timesheet. Enter the first date, August 5, 2019.
1. Click cell B7.
2. Type: 8/5/2019
3. Press Enter.
Use Autofill to complete the dates in the timesheet.
1. Click cell B7.
2. Click the Fill Handle, and drag to cell H7. Release the mouse button.
Change the date format to the 8/5/2019 (or 8/5/19) format.
1. The cell range B7:H7 should still be selected. If not, click cell B7, press and hold Shift, click cell H7, and then release the Shift key.
2. On the Home tab, in the Number group, expand the Number Format list, and click Short Date.
Use the Quick Analysis tool to enter total hours for each day.
1. Select cells B8:H11. Click cell B8, hold down the left mouse button, and drag the mouse to cell H11.
2. Release the mouse button. The cell range B8 through H11 should now appear selected.
3. Click the AutoSum button on the Home tab, in the Editing group.
4. The totals for each column are inserted in row 12 cells.
Format the hours billed section to use the Comma Style number format. Be sure to include the total row.
1. Select cells B8:H12. Try another method: Click cell B8, press and hold Shift, click cell H12, and release the Shift key.
2. On the Home tab, in the Number group, click the Comma Style button.
Enter a formula in cell B14 to calculate the daily bill for Monday, August 5. The formula should calculate the total billable hours for the day (cell B12) times the billable rate (B4).
1. Click cell B14.
2. Type: =
3. Click cell B12.
4. Type: *
5. Click cell B4.
6. Press Command + T to change the cell reference B4 to an absolute reference ($B$4).
7. Press Enter.
8. The formula should look like this: =B12*$B$4
Use AutoFill to copy the formula to the remaining days in the timesheet.
1. Click cell B14 again.
2. Click the AutoFill handle. Hold down the left mouse button and drag to cell H14. Release the mouse button.
3. The formulas in cells B14 through H14 should look like this.
  Table EX 1.4 displays the relative and absolute references for the remaining days in the timesheet.BCDEFGH14=B12*$B$4=C12*$B$4=D12*$B$4=E12*$B$4=F12*$B$4=G12*$B$4=H12*$B$4Notice that when the AutoFill copied the formula, it updated the relative reference (B12) to reflect the new column position, but it did not change the absolute reference ($B$4).
Now you can calculate the bill total for the week by summing the daily bill amounts. Enter a formula using the SUM function with the cell range B14:H14 as the argument.
1. Click cell B15.
2. Type: =SUM(B14:H14)
3. Press Enter.
Use the Recommended Charts feature to insert a stacked column chart representing hours worked for each day for the week of August 5.
1. Select cells A7:H11. Click cell A7, hold down the left mouse button, and drag the mouse to cell H11. Release the mouse button. The cell range A7 through H11 should now appear selected.
2. Click the Recommended Charts button on the Insert tab in the Charts group.
3. Scroll down through all the different chart choices.
4. Click Stacked Column to insert a stacked column chart.
Change the chart title.
1. Click the Chart Title placeholder once to select it.
2. In the formula bar, type: Week of 8/5/2019
3. Press Enter.
Preview how the worksheet will look when printed.
1. Click cell A1 to deselect the chart.
2. Click File on the Excel menu.
3. Click Print... to display the print preview.
4. Click Cancel to close the Print dialog.
Save and close the workbook.
Upload and save your project file.
Submit project for grading.

July 1, 2023

IMPORTANT: If you are a Canadian user, be sure to verify that your browser and Microsoft Office use the same country settings. See here for a Help topic on how to change your settings.

Open the start file EX2019-SkillReview-1-1. The file will be renamed automatically to include your name. Change the file name if directed to do so by your instructor, and save it.
If the workbook opens in Protected View, click the Enable Editing button in the Message Bar at the top of the workbook so you can modify the workbook.

Explore the workbook. If you accidentally make changes while exploring, press Ctrl + Z to undo the change.
1. Click the worksheet tab labeled Stevens Hours.
2. If necessary, use the vertical scroll bar to scroll down so you can see both weeks of billable hours. (If necessary, use the vertical scroll bar again to return to the top of the worksheet.)
3. Click cell B2 (the cell displaying the staff member’s last name, Stevens). This is the cell at the intersection of column B and row 2.
  1. Note that the column B and row 2 selector boxes highlight.
  2. Note that the status bar displays Ready, indicating that you are in Ready mode.
  3. On the Home tab, in the Number group, look at the Number Format box at the top of the group. Note that the format for this cell is General.
  4. Double-click cell B2 to switch to Edit mode. Note that the status bar now displays Edit, and the blinking cursor appears within the cell. If you needed to, you could edit the text directly in the cell.
4. Press Esc to exit Edit mode and return to Ready mode.
5. Press Enter twice to move to cell B4 (the cell displaying the staff member’s billable rate). This cell is formatted with the Accounting Number Format (or Custom) number format.
  1. Look in the Number Format box and note that the format for this cell is Accounting (or Custom).
  2. On the Home tab, in the Styles group, look in the Cell Styles gallery, and note that the cell style Currency is highlighted. (If the Cell Styles gallery is collapsed on your Ribbon, click the Cell Styles button to display it.)
6. Click cell B8 (the cell displaying the number of hours for Monday, August 5). This cell is formatted with the Custom cell style.
  1. Look in the Number Format box and note that the format for this cell is also Accounting (or Custom).
  2. On the Home tab, in the Styles group, look in the Cell Styles gallery, and note that the cell style Comma is highlighted for this cell. (If the Cell Styles gallery is collapsed on your Ribbon, click the Cell Styles button to display it.)
  3. Note the style differences between cell B4 (Accounting Number Format, Currency style) and cell B8 (Accounting Number Format, Comma style).
7. Click cell B7 (the cell displaying the date 8/5/2019 or 8/5/19). This cell is formatted using the Short Date format. Note that the Number Format box displays Date.
8. Double-click cell B14.
  1. Note that the status bar now displays Edit, indicating that you are in Edit mode.
  2. This cell contains a formula to calculate the daily bill for Monday, August 5: =B12*$B$4
  3. Note that cells B12 and B4 are highlighted with colors matching the cell references in the formula.
  4. Note that the reference to cell B4 is an absolute reference ($B$4).
9. Press Esc to exit Edit mode.
10. Double-click cell B12.
  1. Note that once again the status bar displays Edit, indicating that you are in Edit mode.
  2. This cell contains a formula using the SUM function to calculate the total billable hours for Monday, August 5: =SUM(B8:B11)
  3. In this case, the SUM function uses a single argument B8:B11 to indicate the range of cells to total.
  4. Note that the cell range B8:B11 is highlighted with the color matching the argument in the SUM function formula.
  5. Note that the reference to the cell range B8:B11 uses relative references.
11. Press Esc to exit Edit mode.
12. Press Tab to move to cell C12. Look in the formula bar and note that this cell contains a similar formula to the one in cell B12: =SUM(C8:C11)
13. Press → to move through cells D12 through H12. Note the formula in the formula bar for each cell.
14. Did you notice that the cell references in the formulas in cells C12 through H12 all use relative references?
The Stevens Hours worksheet contains a stacked column chart. Review the chart so you can recreate it on the Swinson Hours worksheet.
1. The stacked column chart to the right of the hours for the week of August 5 represents the hours worked for each client each day.
2. The column height for each day represents the total hours worked. Each column is divided into segments representing the hours worked for each client.
3. The number of hours worked is represented on the y axis. The dates are represented along the x axis.
4. The chart title has been changed to: Week of 8/5/19
Now you are ready to complete the worksheet for David Swinson. Navigate to the Swinson Hours worksheet by clicking the Swinson Hours worksheet tab.
The staff member’s last name is spelled incorrectly. Navigate to cell B2 and edit the text so the last name is spelled correctly (Swinson – with an i instead of an a). Use Edit mode.
1. Double-click cell B2.
2. Edit the text to: Swinson
3. Press Enter to accept your changes.
The billable rate amount is missing. Navigate to cell B4 and enter the rate. Use Ready mode.
1. Click cell B4.
2. Type: 180
3. Press Enter.
Modify the billable rate to use the Accounting Number Format.
1. Press the ↑ to return to cell B4.
2. On the Home tab, in the Number group, click the Accounting Number Format button.
The dates are missing from the timesheet. Enter the first date, August 5, 2019.
1. Click cell B7.
2. Type: 8/5/2019
3. Press Enter.
Use Autofill to complete the dates in the timesheet.
1. Click cell B7.
2. Click the Fill Handle, and drag to cell H7. Release the mouse button.
Change the date format to the 8/5/2019 (or 8/5/19) format.
1. The cell range B7:H7 should still be selected. If not, click cell B7, press and hold Shift, click cell H7, and then release the Shift key.
2. On the Home tab, in the Number group, expand the Number Format list, and click Short Date.
Use the Quick Analysis tool to enter total hours for each day.
1. Select cells B8:H11. Click cell B8, hold down the left mouse button, and drag the mouse to cell H11.
2. Release the mouse button. The cell range B8 through H11 should now appear selected.
3. Click the AutoSum button on the Home tab, in the Editing group.
4. The totals for each column are inserted in row 12 cells.
Format the hours billed section to use the Comma Style number format. Be sure to include the total row.
1. Select cells B8:H12. Try another method: Click cell B8, press and hold Shift, click cell H12, and release the Shift key.
2. On the Home tab, in the Number group, click the Comma Style button.
Enter a formula in cell B14 to calculate the daily bill for Monday, August 5. The formula should calculate the total billable hours for the day (cell B12) times the billable rate (B4).
1. Click cell B14.
2. Type: =
3. Click cell B12.
4. Type: *
5. Click cell B4.
6. Press Command + T to change the cell reference B4 to an absolute reference ($B$4).
7. Press Enter.
8. The formula should look like this: =B12*$B$4
Use AutoFill to copy the formula to the remaining days in the timesheet.
1. Click cell B14 again.
2. Click the AutoFill handle. Hold down the left mouse button and drag to cell H14. Release the mouse button.
3. The formulas in cells B14 through H14 should look like this.
  Table EX 1.4 displays the relative and absolute references for the remaining days in the timesheet.BCDEFGH14=B12*$B$4=C12*$B$4=D12*$B$4=E12*$B$4=F12*$B$4=G12*$B$4=H12*$B$4Notice that when the AutoFill copied the formula, it updated the relative reference (B12) to reflect the new column position, but it did not change the absolute reference ($B$4).
Now you can calculate the bill total for the week by summing the daily bill amounts. Enter a formula using the SUM function with the cell range B14:H14 as the argument.
1. Click cell B15.
2. Type: =SUM(B14:H14)
3. Press Enter.
Use the Recommended Charts feature to insert a stacked column chart representing hours worked for each day for the week of August 5.
1. Select cells A7:H11. Click cell A7, hold down the left mouse button, and drag the mouse to cell H11. Release the mouse button. The cell range A7 through H11 should now appear selected.
2. Click the Recommended Charts button on the Insert tab in the Charts group.
3. Scroll down through all the different chart choices.
4. Click Stacked Column to insert a stacked column chart.
Change the chart title.
1. Click the Chart Title placeholder once to select it.
2. In the formula bar, type: Week of 8/5/2019
3. Press Enter.
Preview how the worksheet will look when printed.
1. Click cell A1 to deselect the chart.
2. Click File on the Excel menu.
3. Click Print... to display the print preview.
4. Click Cancel to close the Print dialog.
Save and close the workbook.
Upload and save your project file.
Submit project for grading.

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