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Using Excel to Record Adjusting Entries PROBLEM The bookkeeper for Tran Company asks you to prepare three accrual adjusting entries at December 31. Student Work Area Required: Provide input into cells shaded in yellow in this template. Use cell references to respective account names and amounts in the Problem area. $ a. Interest on notes payable should be accrued b. Services performed but unbilled C. Salaries earned by employees have not been recorded or paid 300 1,700 780 Debit Credit Date Dec. 31 31 31 Function: IRR; Cell Referencing Using Excel to Determine IRR PROBLEM Kanye Company is evaluating the purchase of a rebuilt spot- welding machine to be used in the manufacture of a new product. The machine has an estimated useful life of 7 years. Additional information concerning the possible investment follows. Student Work Area Required: Provide input into cells shaded in yellow in this template. Cell reference the respective amounts from the Problem area to the respective input cells. Use the IRR function with cell referencing to determine the internal rate of return. Calculate the internal rate of return of the facilty to the company using Excel's IRR function. The solution will differ slightly from the solution using the approach in your text. $ 176,000 Expected machine cost Estimated sales value at end of 7 years Expected annual operating cash flows Estimated useful life in years Cash Flows Acquired Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 35,000 7 years Internal rate of return