An incomplete spreadsheet for a business is shown below.
Rows 1 through 3 contain headers that say, in order from 1 to 3, "Ahead Financial Services," "Balance Sheet," and "March 31." In subsequent rows, some cells contain text or numbers as follows: Cell A 4, Assets. Cell A 5, Total current assets. Cell B 5 250,000. Cell A 6, Fixed assets. Cell B 6, 125,000. Cell A 7, Intangible assets. Cell B 7, 15,000. Cell A 9, Total assets. Cell A 11, Liabilities. Cell A 12, Current liabilities. Cell B 12, 175,000. Cell A 13, Long-term liabilities. Cell B 13, 125,000. Cell A 15, Total liabilities. Cell C 15, 300,000. Cell A 17, Owner's Equity. Cell A 18, Common stock, cell B 18, 50,000. Cell A 19, Retained earnings, cell B 19, 40,000. Cell A 21, Total equity. Cell C 21, 90,000. Additionally, cell C 9 in the Total assets row is blank with a dark border around it.
What formula should be inserted in cell C9?
- B5 + B12
- SUM(B5:B7)
- B15 + B21
- SUM(C15:C21)
Correct Response and Explanation (Show Correct ResponseHide Correct Response)
B. This question requires the examinee to apply knowledge of principles
and procedures related to software applications used for information processing. A
spreadsheet is a computer application that consists of a grid of cells that may contain
alphanumeric text, as in column A of the spreadsheet shown, or numerals, as in columns B
and C. A spreadsheet cell may also contain a formula that specifies how the content of
that cell is to be calculated from the contents of other cells. In the spreadsheet shown,
column C of the balance sheet represents the total of each of the categories (assets,
liabilities, owner's equity) of the balance sheet. The highlighted cell represents total
assets, and the formula for calculating the cell's content would be SUM(B5:B7).