Introduction to Data Analytics for Accounting 1st Edition by Vernon Richardson Solution manual

shown in the trial balance?
a. Accumulated Depreciation
b. Prepaid insurance
c. Allowance for Doubtful Accounts
5. What is the calculation for the Net Credits computation in the Calculated Fields, Items
and Sets?
a. IF(Debit>Credit, Debit – Credit)
b. IF(Debit>Credit, Credit –Debit)
c. IF(Credit>Debit, Credit – Debit)
d. IF(Credit>Debit, Debit – Credit)
Richardson, Terrell, Teeter – Introduction to Data Analytics for Accounting, 1 st Edition – Chapter 1
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Lab 1-1 Alt Submission
Lab 1-1 Alt Multiple Choice Questions
1. What are the total credits for the final trial balance?
a. 284,477
b. 176,100
c. Cannot be calculated
2. How much is total liabilities in the trial balance?
a. 76,200
b. 32,300
c. 26,200
d. 176,100
3. In a trial balance, the total debits should equal total credits.
a. True
b. False
Richardson, Terrell, Teeter – Introduction to Data Analytics for Accounting, 1 st Edition – Chapter 1
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4. A trial balance includes accounts from the ___________ and _____________ .
a. Income statement, balance sheet and statement of cash flows
b. Income statement and balance sheet
c. Balance sheet and statement of cash flows
d. Income statement and statement of cash flows.
5. What is the calculation for the Net Debits computation in the Calculated Fields, Items
and Sets?
a. IF(Credit>Debit, Credit – Debit)
b. IF(Credit>Debit, Debit – Credit)
c. IF(Debit>Credit, Debit – Credit)
d. IF(Debit>Credit, Credit –Debit)
Lab 1-2 Solution
Lab 1-2 Submission
Take a screenshot of the depreciation schedule for 2022 and label it “Lab 1-2
Submission 1.jpg”.
Richardson, Terrell, Teeter – Introduction to Data Analytics for Accounting, 1 st Edition – Chapter 1
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1. The lab presumes the depreciation expense for the year 2022. If we replace “2023”
for “2022” in cell B1, we can compute the depreciation expense for the year 2023.
Take a screenshot of the depreciation schedule for 2023 and label it “Lab 1-2
Submission 2.jpg”
Lab 1-2 Multiple Choice Questions
1. Which truck had higher straight-line depreciation expense than double-declining
balance depreciation expense in 2022?
a. Truck 1
b. Truck 2
c. Dump Trailer
2. Which method calculated the most depreciation expense for the “Trailer for Equipment”
in 2022?
a. Sum-of-the-Year’s Digits
b. Double Declining Depreciation
Richardson, Terrell, Teeter – Introduction to Data Analytics for Accounting, 1 st Edition – Chapter 1
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c. Straight-Line Depreciation
3. Overall, for 2022, which depreciation method had the least depreciation expense?
a. Straight-Line Depreciation
b. Sum-of-the-Year’s Digits
c. Double Declining Depreciation
4. The lab presumes the depreciation expense for the year 2022. If we replace “2023” for
“2022” in cell B1, we can compute the depreciation expense for the year 2023. What is
the straight-line depreciation for 2023 assuming no assets are added or disposed during
the year?
a. 15,988
b. 14,168
c. 15,917
d. 23,166
5. The lab presumes the depreciation expense for the year 2022. If we replace “2023” for
“2022” in cell B1, we can compute the depreciation expense for the year 2023. What is
the double declining balance depreciation for 2023 assuming no assets are added or
disposed during the year?
a. 14,168
b. 15,988
c. 15,917
d. 23,166
Richardson, Terrell, Teeter – Introduction to Data Analytics for Accounting, 1 st Edition – Chapter 1
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Lab 1-2 Alt Submission
1. Take a screenshot of the depreciation schedule for 2022 and label it “Lab 1-2 Alt
Submission 1.jpg”.