Complete the statement of cash flow for January through June on the CashFlow worksheet by completing the
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Question:
Complete the statement of cash flow for January through June on the CashFlow worksheet by completing the following tasks. As part of the process, you will need to use a circular reference. You will need to set Excel to handle circular references.
Calculate the beginning cash balance for February through June.
- The beginning cash balance is equal to the ending cash balance from the prior month.
- Reuse your formula to complete the beginning cash balance for each month.
Calculate the loan interest for each month.
- The loan interest is equal to the loan balance for that month times the monthly interest rate in cell C3.
- This calculation will create a circular reference. Configure Excel to appropriately handle the circular reference.
- Reuse your formula to complete the loan interest for each month.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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