Integrated Computer Application - Balance Sheet

Objective:

To understand Nike's current financial position by creating a balance sheet that reflects its financial assets and liabilities from the past two years. This assignment will help you become proficient in using Microsoft Excel to organize financial data, adjust row heights and column widths, and apply appropriate formatting.

Instructions:

1. Set Up the Worksheet:

   • Open Microsoft Excel and create a new workbook.
   • Save the workbook as "Nike_Balance_Sheet_LastName_FirstName.xlsx".

2. Enter Text and Data:

• Rename the Sheet1 worksheet as Balance Sheet, and then begin to enter data into the worksheet.
• Enter data as shown:
  

• • • Change the format to Accounting for numeric values you entered for the first account in Assets, the first account in Liabilities, and the first account in Owner Equity.
    • Change the remaining numeric values to use the comma format.
    • Resize the columns to fit the labels and values you entered, if they are too small.
    • Display a border around the accounts and their annual values.
    • In cell A26, enter the text Report Date.
    • In cell B26, enter today’s date. With cell B26 selected, Open the Number dialog box and change the format to any date formats in the list.

    • The image below shows how to open the Number dialog box. Notice that other groups on the Home tab have dialog boxes to display all of the features for the group. Only the common features are displayed in the ribbon.

• • • Click the File tab, click on the Export item, and then the Create PDF/XPS button. When asked for a filename use the same name as your workbook – Lastname_Balance_Sheet.
    • Close the PDF document and Excel.

3. Save Your work:

• • • Ensure that you save the workbook regularly as you make changes.

4. Submit Your Assignment:

• • • Submit the completed Excel file and PDF to the assignment holder in Canvas.

Tips for Completing the Assignment:

1. Set Up the Workbook:

   • Open Excel and save your workbook as "Nike_Balance_Sheet.xlsx".

2. Enter Data:

   • Create a table for the balance sheet. Enter the data as described in the example layout.

3. Create Column Labels:

   • In the first row, type "Item", "Year 1", and "Year 2".
   • Adjust the row height to make the labels more prominent. Right-click on the row number, select "Row Height...", and set it to an appropriate value (e.g., 25).

4. Adjust Column Widths and Row Heights:

   • Select the columns, right-click, and choose "Column Width..." to adjust and ensure all data is visible. Set an appropriate width (e.g., 20).
   • Adjust row heights similarly to ensure readability.

5. Format Cells:

   • Select the header cells and apply bold formatting using the "Home" tab.
   • Optionally, use cell fill color to differentiate sections. For instance, you could fill the header cells with a light gray color for better visibility.

6. Apply Accounting Format, Comma Style, and Decimal Places:

   • Select all numerical data cells.
   • In the "Home" tab, choose the "Accounting" format for financial figures.
   • Apply the "Comma" style by selecting the corresponding option under the "Number" section in the "Home" tab.
   • Ensure two decimal places are displayed by setting the decimal places to 2.

7. Use Formulas to Calculate Totals:

   • For example, to calculate Total Assets for Year 1, use the formula =SUM(B2:B5) if B2 to B5 contains asset values for Year 1.
   • Similarly, calculate Total Liabilities and Total Equity using the SUM function.

8. Check for Accuracy:

   • Ensure that Total Assets equal the sum of Total Liabilities and Total Equity.

9. Save Regularly:

   • Save your work frequently to avoid data loss.

10. Review and Submit:

• Review your worksheet for completeness and accuracy, ensuring all formatting is applied correctly.
• Submit the completed Excel file as instructed.