Module 1-5

Question 1

What is a Row

Answer 1

Indicated by numbers. Horizontal.

Question 2

What is a column?

Answer 2

Indicated by letters. Vertical.

Question 3

What are cells and range of cells?

Answer 3

-Intersection of row and column.

-Selection of multiple cells.

Question 4

What is the Name Box?

Answer 4

Indicates which cell is active (the one with green border to indicate which one you’re working on).

Question 5

#####

Answer 5

The cell has a wrong date or time value. Or the column width isn’t wide enough.

Question 6

DIV/0!

Answer 6

Division by 0 or a blank cell.

Question 7

N/A

Answer 7

Not available or not value is available.

Question 8

NAME?

Answer 8

Text in the formula is not recognized.

Question 9

NULL!:

Answer 9

When two or more cell are separated incorrectly or unintentionally by space or formula.

Question 10

NUM!

Answer 10

Formula has invalid numeric data or type of operation.

Question 11

REF!

Answer 11

Reference is invalid.

Question 12

VALUE!

Answer 12

Wrong type of argument in a function or operator used.

Question 13

Formulas and Functions

Answer 13

Formula: typed in manually –> =G3+G4

Functions: built-in formulas from Excel you can insert. –> =sum(G3:G4)

Question 14

Roots Formula

Answer 14

=cell1^(1/cell2)

Question 15

Growth Formula

Answer 15

=cell1*(1+cell2) in this case, cell2 is usually a percentage.

Question 16

Square Root Formula and Function

Answer 16

=cell1^(1/2) OR =sqrt(cell)

Question 17

Percentage of Cells Formula

Answer 17

=number*percentage of cells absolute referenced

Question 18

Revenue Formula

Answer 18

=price*number of items sold (volume)

Question 19

[Production] Cost Formula

Answer 19

=given cost * number of items sold (volume)

Question 20

Gross Profit Formula

Answer 20

=revenue-total [production] cost

Question 21

Fixed Cost Formula

Answer 21

=given number*frequency (like if it is monthly then it should be multiplied by 12 or the cell containing the number it should be multiplied by)

Question 22

EBITDA Formula (Earnings Before Interest, Tax, Deprecation and Amortization)

Answer 22

=gross profit-total fixed cost

Question 23

CCA Formula (Deprication and Ammortization)

Answer 23

=cells with the same year in CCA worksheet

Question 24

EBT Formula

Answer 24

=EBITDA-SUM(interest,CCA) OR =EBITDA-(interest+CCA)

Question 25

Tax Formula/Function

Answer 25

=if(EBT>0,EBT*Tax Rate,0)

Question 26

Net Profit / Net Income Formula

Answer 26

=EBT-Tax

Question 26

Profit Margin

Answer 26

=net profit/revenue

Question 27

GST Collected Formula

Answer 27

=revenue*GST rate

Question 28

GST Paid Formula

Answer 28

=sum(GST eligible expense [Y])*GST Rate

Question 29

GST Payable Formula

Answer 29

=GST Collected-GST Paid

Question 30

Non-Current Assets Formula

Answer 30

=Equipment-Accumulated CCA

Question 31

Total Assets Formula

Answer 31

=Total Current Assets+Non-Current Assets

Question 32

Taxes Payable Formula (Balance Sheet)

Answer 32

=tax from the income statement

Question 33

GST Payable Formula (Balance Sheet)

Answer 33

=GST owing from income statement

Question 34

Retained Earnings Formula

Answer 34

=net income from income statement

Question 35

Cash Helper Formula

Answer 35

=total liabilities and equity - sum(everything in current assets except for cash)- non-current assets

Question 36

Accumulated CCA Formula

Answer 36

=[0 or previous year] + from CCA worksheet

Question 37

Retained Earnings Formula

Answer 37

=[0 or previous year] + Net income from income statement

Question 38

Excel is best used to manipulate what type of data?

Answer 38

Numeric

Question 39

Quick Ratio Formula

Answer 39

=(Current Assets-Inventory) / Current Liabilities

Question 40

Current Ratio Formula

Answer 40

=Current Assets / Current Liabilities

Question 41

Debt Ratio Formula

Answer 41

Total Debt / Total Assets

Question 42

Debt to Equity Formula

Answer 42

=Total Debt / Equity

Question 43

Asset Turnover Formula

Answer 43

=Net Sales/Total Assets