Critical Thinking

EA$6-$C$1$ DISCUSS USING TABLES TO CONSOLIDATE ACCOUNTING DATA

As you have seen in this chapter, fixed assets can be efficiently summarized in an Excel table. Excel tables can also be used to organize and examine other accounting$-$related data as well. The effective use of Excel in an accounting environment entails the identification of all areas in which features, such as Excel tables, can provide a benefit to the end user.

$1)$ Write a paragraph of at least FIVE sentences to identify THREE TYPES of accounting data $($other than fixed assets$/$depreciation$)$ that can be summarized in an Excel table. $2)$ Write a SECOND paragraph of at least FIVE sentences to discuss how the use of an Excel table would facilitate analyses of EACH of your identified data types.