Step 25 of 40: Adjustment 1
This step illustrates how to make an Adjustment to an existing worksheet by changing the reference on a cell to a different worksheet.
Written description of the slides
Step 25 uses one of the formulas that you created in Step 24, except you’re going to reference cell B1 on the Assumptions worksheet instead of referencing a cell on the same worksheet as you did in step 24. The adjustment steps are designed to reinforce concepts covered previously in the assignment.
Record an adjustment to the General Journal to recognize the Deferred Revenue that has been earned during this accounting period. For this entry, the amount of deferred revenue is determined by using the ROUNDUP function to round the value in cell B1 of the Assumptions worksheet up to the nearest 1,000.
TIP: The amounts you enter will appear automatically on the General Ledger worksheet.
NOTE: The debit and credit amounts should be derived by formulas that utilize cell references. You will only receive partial credit if you type amounts into the cells or formula instead of referencing the corresponding worksheet cells.
Steps labeled YOUR TURN are reinforcing steps that present opportunities to apply concepts covered earlier in the assignment.
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Be sure to listen to the audio portion of the video as you work through the assignment. The presenter elaborates further on what is being presented on screen and will offer tips.