Independent Challenge 2You are an auditor with a credited public accounting rm. Boston Paper, an online seller

Fantastic news! We've Found the answer you've been seeking!

Question:

Independent Challenge 2You are an auditor with a credited public accounting ¬rm. Boston Paper, an online seller of office products, has contacted you to audit its ¬rst-quarter sales records. The management is considering expanding and needs its sales records audited to prepare the business plan. Specially, they want to show what percent of annual sales each category represents. You will use a formula on a summary worksheet to summarize the sales for January, February, and March and to calculate the overall ¬rst-quarter percentage of the sales categories.

a. Start Excel, open EX 5-5.xlsx from the location where you store your Data Files, then save it as EX 5-Paper.b.In cell B10 of the Jan, Feb, and Mar sheets, enter the formulas to calculate the sales totals for the month.

c. For each month, in cell C5, create a formula calculating the percent of sales for the Equipment sales category. Use a function to display “INCORRECT” if there is a mistake in the formula. Verify that the percent appears with two decimal places. Copy this formula as necessary to complete the % of sales for all sales categories on all sheets. If any cells display “INCORRECT”, fix the formulas in those cells.

d. In column B of the Summary sheet, use formulas to total the sales categories for the Jan, Feb, and Mar worksheets.

e. Enter the formula to calculate the first-quarter sales total in cell B10 using the sales totals on the Jan, Feb, and Mar worksheets.

f. Calculate the percent of each sales category on the Summary sheet. Use a function to display “MISCALCULATION” if there is a mistake in the formula. Copy this formula as necessary. If any cells display “MISCALCULATION”, fix the formulas in those cells.

g. Enter your name in the Summary worksheet footer, save the workbook, preview the worksheet, then submit it to your instructor.

h. On the Products sheet, separate the product list in cell A1 into separate columns of text data. (Hintdata. (Hintdata. (: With cell A1 as the active cell, use the Text to Columns button in the Data Tools group of the Data tab. The products are delimited with commas.)