School

Western Governors University **We aren't endorsed by this school

Course

WGU C268

Subject

Accounting

Date

Nov 5, 2023

Pages

11

Uploaded by MUNYAOGEE1 on coursehero.com

WGU C268 Spreadsheets Questions and Answers Already
Graded A+
Calculate the payment amount for the loan in cell C15. Reference the cells containing the
appropriate loan information as the arguments for the function you use. Cells C20-C67 in the
"Payment" column are populated with the payment amount from cell C15. [34 Points]
✔✔
=PMT(C13/12,C12,C11)
Calculate, in cell D20, the interest amount for period 1 by multiplying the balance in period 0
(cell F19) by the loan interest rate (cell C13) divided by 12. Dividing the interest rate by 12
results in the monthly interest rate. This formula is reusable. The interest for a given period is
always the monthly interest rate times the balance from the previous period.
✔✔
=F19*$C$13/12
Calculate, in cell E20, the principal amount for period 1. The principal amount is the difference
between the payment amount (cell C20) and the interest amount (cell D20) for period 1.
Construct your formula in such a way that it can be reused to complete the "principal" column
of the amortization table.
✔✔
=C20-D20
Calculate, in cell F20, the balance for period 1. The balance is the difference between the
balance for period 0 (cell F19) and the principal amount for period 1 (cell E20). This formula is
reusable. The balance is always calculated as the difference between the balance from the
previous period and the principal amount for the current period.
✔✔
=F19-E20
Calculate, in cell G12, the total amount paid by multiplying the payment amount (cell C15) by
the term of the loan (cell C12).
✔✔
=C15*C12
Calculate the total interest paid in cell G13. The total interest paid is the sum of all interest paid
in the "Interest" column of the amortization table.
✔✔
=SUM(D20:D67)
Check to see if the total interest calculation in the amortization table is correct. The total
interest paid is also equal to the difference between the total amount paid over the course of
the loan and the original loan amount. Insert a formula into cell G14 to calculate the difference

between the total amount paid and the original loan amount. Notice the negative sign
associated with the original loan amount. This value should equal the total interest calculated
using the amortization table.
✔✔
=G12-ABS(C11)
Assume you have made the first 36 payments on your loan. You want to trade the car in for a
new car. You believe that you can sell your car for $4000. Will this cover the balance remaining
on the car in period 36? Answer either "Yes" or "No" in cell G15 from the drop-down menu.
✔✔
No
Use the HLOOKUP function to complete the "Hourly Wage" column of table 1. Use the
"Employee" column of table 1 as the lookup_value and the "Employee Wage Information"
above table 1 as your reference table.
✔✔
=HLOOKUP(D16,$E$11:$H$12,2,FALSE)
Use the AND function to complete the "Time Bonus?" column of table 1. An employee earns a
time bonus if the project's "Hours Worked" are fewer than the "Estimated Hours" and if the
work "Quality" is greater than 1.
✔✔
=AND(E16<C16,H16>1)
Use the OR function to complete the "Outcome Bonus?" column of table 1. An employee earns
an outcome bonus if the difficulty of a job is greater than 3 or if the quality of their work is
equal to 3.
✔✔
=OR(G16>3,H16=3)
Use the IF function to complete the "Time Bonus $" column of table 1. If an employee earns a
time bonus (i.e., the corresponding cell in the "Time Bonus?" column is TRUE), then "Time
Bonus $" is the "Job Pay" for that project times the bonus percentage in cell M11. Otherwise
"Time Bonus $" is 0.
✔✔
=IF(I16,K16*$M$11,0)
Use the IF function to complete the "Outcome Bonus $" column of table 1. If an employee earns
an outcome bonus (i.e., the corresponding cell in the "Outcome Bonus?" column is TRUE), then
"Outcome Bonus $" is the "Job Pay" for that project times the outcome bonus percentage in cell
M12; otherwise, "Outcome Bonus $" is 0.
✔✔
=IF(J16,K16*$M$12,0)
Use the IF function to complete the "Comments" column of table 1. Display "Good Job" if both
the "Hours Worked" are less than or equal to the "Estimated Hours" for a project and the

assessed "Quality" of that project is greater than 1. Display "Too Much Time" if the "Hours
Worked" on a project exceed the "Estimated Hours" for that project; otherwise, display "Poor
Quality."
✔✔
=IF(AND(E16<=C16,H16>1),"Good Job",IF(E16>C16,"Too Much time","Poor
Quality"))
Use the VLOOKUP function to complete the "Employee" column of table 2. Use "Job ID" from
table 2 as your lookup_value(s) and table 1 as the reference table.
✔✔
=VLOOKUP(B40,$B$16:$O$35,3,FALSE)
Use the VLOOKUP function to complete the "Difficulty" column of table 2. Again, use "Job ID"
from table 2 as the lookup_value(s) and table 1 as the reference table.
✔✔
=VLOOKUP(B40,$B$16:$O$35,6,FALSE)
Use the COUNTIF function to complete the "# of Jobs" column in table 3. Reference the
appropriate field in table 1 as your range and the "Employee" names in table 3 as your criteria.
✔✔
=COUNTIF($D$16:$D$35,G39)
Use the SUMIF function to complete the "Total Hours" column in table 3. Reference the
appropriate field in table 1 as your range and the "Employee" names in table 3 as your criteria.
✔✔
=SUMIF($D$16:$D$35,G39,$E$16:$E$35)
Use the SUMIF function to complete the "Total Pay" column in table 3. Reference the
"Employee" field in table 1 as your range, the "Employee" names in table 3 as your criteria, and
the "Total Pay" field in table 1 as your sum_range.
✔✔
=SUMIF($D$16:$D$35,G39,$N$16:$N$35)
Use the COUNTIF function to complete the "# of Touch-ups" column in table 4. Reference the
appropriate field in table 2 as your range and the "Difficulty" rating in table 4 as your criteria.
✔✔
=COUNTIF($D$40:$D$46,G46)
Use the SUMIF function to complete the "Cost Touch-ups" column in table 4. Reference the
appropriate field in table 2 as your range and the "Difficulty" rating in table 4 as your criteria.
✔✔
=SUMIF($D$40:$D$46,G46,$E$40:$E$46)

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