Auditing CIS Environment Audit in MS Excel Exercise

Instructions
Versions: Excel 2010 & Excel 2007

Step Task
1 Open the Data sheet - we've created this sheet to enable users to record cash balance transactions. The transactions on this sheet will
then be updated to the cash balance summary on the cash balance sheet. The contents on the Data sheet have been included in an
Excel table - when users therefore record additional transactions at the bottom of the sheet, the table will be extended automatically
and the new transactions will be updated to the cash balance summary without having to amend any cell ranges in any of the formulas
that we'll create in this exercise.
2 Change the name of the Company, Example Limited, to your Last name Limited e.g. Gatchalian Limited for both Data Sheet, Cash
Balance and Income Statement
3 In order to ensure that only valid user input is accepted, we'll add data validation to the Data sheet. Select all the cells in the
Transaction Date column (excluding the column heading) and add data validation that will ensure that only valid dates on or after 1
January 2010 are accepted as valid user input.
4 Select all the cells in the Type column (excluding the column heading) and add a drop-down list box in these cells which contains two
transaction types namely D (for deposits) and W (for withdrawals). Tip: In the Source section, enter: D,W
5 Note: When you add data validation to cells that already contain data or if you copy values into a cell range which contains data
validation, invalid data is not always clearly highlighted. Use the built-in Excel feature to highlight an error which is included in the Type
column and replace the cell contents ("B") with a valid transaction type for a deposit which is "D".
6 Define a named cell range which refers to all the account numbers in column A on the cash balance sheet (cells A12 to A39). Enter the
following name for the cell range: Accounts
7 Select all the cells in the Account Number column (excluding the column heading) and add a drop-down list box in these cells which
contains all the account numbers that have been included on the cash balance sheet (the same cell range as has been included in the
Accounts named range).
8 Add conditional formatting to the same cell range in the Account Number column which will highlight all invalid account numbers
(account numbers which are not included on the cash balance sheet) with a red cell background and a white text color. Tip: Select the
formulas conditional formatting option and enter a formula which combines the ISNA and Match functions in order to determine whether
the appropriate account number is included on the cash balance sheet. Hint: Use this formula: =ISNA(MATCH(G5,Accounts,0))

Page 1 of 8
Step Task
9 Our default data includes one invalid account number - change this account number to IS-100 and note how the conditional formatting
is removed automatically.
10 Select all the cells in the Transaction Date column (excluding the column heading) and define the following name for the selected cell
range: CBDate Tip: The Refers To section should contain the following structured cell reference: =Transact[Transaction Date]

11 Select all the cells in the Type column (excluding the column heading) and define the following name for the selected cell range:
CBType
12 Select all the cells in the Amount column (excluding the column heading) and define the following name for the selected cell range:
CBAmount
13 Select all the cells in the Account column (excluding the column heading) and define the following name for the selected cell range:
CBAccount
14 Now, based on the figures from your DATA sheet, we will be computing the Total Deposits, Total Withdrawals, and the Cash Balance.
On the yellow highlighted cell, input the necessary formula/s to compute for the Total Deposits, Withdrawals, and Cash Balance.

15 After Computing the Cash Balance, we will create a RECAPITULATION or SUMMARY of the ACCOUNTS, Input/ Create formula under
the DEPOSITS, WITHDRAWAL, BALANCE, and NO. OF TRANSACTIONS Headings to Compute or show the total transactions for
each account number.
16 Then, on Row 40, TOTAL, input / create formula to show the total amount per column.
17 After Performing the Cash Balance, on the INCOME STATEMENT sheet, construct the Income Statement, Use VLOOK UP formula for
the Description and Amount Column. Input the formula to show Subtotals and Totals.
18 If your last name is starting from A-G, change the cell color of the headings from maroon to Yellow, Font Style is CAMBRIA, font size is
12 . if H-S, change it to cell color Pink and Font style is Arial Narrow, size: 12. If T-Z, Change it to Orange, Font style is Times New
Roman, Size, 13.
19 Generate a PDF copy of your Cash Balance and Income Statement, Save the file with Cash Balance_Last Name and Income
Statement_Last name
20 Save your Workbook with a file name CIS Exercises_Last Name and submit it to your professor together eith the PDF files.

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Vega Limited
Cashbook Transactions

Transaction Account
Date Type Customer / Supplier Reference Description Amount Number
2/28/2011 D Opening O/B Opening Bank Statement Balanc 3,400.00 IS-100
3/2/2011 W XY Solutions Invoice EXP09 Internet Service Provider 165.30 IS-380
3/5/2011 W Hollard Debit Order Insurance 364.80 IS-340
3/10/2011 D WS Wholesale INV0052 Consulting Services 17,100.00 IS-100
3/15/2011 W ABSA Bank Statement Service Fees 57.00 IS-315
3/26/2011 W Payroll Payroll Salaries 8,000.00 IS-365
3/26/2011 W PR Properties Debit Order Rent 5,700.00 IS-350
3/26/2011 W SQ Financial Services Debit Order Interest paid 100.00 IS-500
3/31/2011 W XY Solutions Invoice EXP10 Internet Service Provider 165.30 IS-380
4/2/2011 W IAS Accountants Invoice Bookkeeping 912.00 IS-305
4/5/2011 W Hollard Debit Order Insurance 364.80 IS-340
4/10/2011 D Waltons Invoice Paper 228.00 IS-325
4/13/2011 D GP Accountants INV0054 Consulting Services 9,291.00 IS-100
4/14/2011 D TRF Solutions INV0053 Consulting Services 12,768.00 IS-100
4/15/2011 W ABSA Bank Statement Service Fees 57.00 IS-315
4/24/2011 W Waltons Invoice Paper 228.00 IS-325
4/26/2011 W Payroll Payroll Salaries 8,000.00 IS-365
4/26/2011 W PR Properties Debit Order Rent 5,700.00 IS-350
4/26/2011 W SQ Financial Services Debit Order Interest paid 100.00 IS-500
4/27/2011 D WC Financial Advisors INV0056 Taxation Services 7,980.00 IS-100
4/27/2011 D WC Financial Advisors INV0056 Accounting Services 3,762.00 IS-100
4/27/2011 D WC Financial Advisors INV0056 Consulting Services 37,777.32 IS-100
5/1/2011 W XY Solutions Invoice EXP11 Internet Service Provider 165.30 IS-380
5/3/2011 W IAS Accountants Invoice Bookkeeping 912.00 IS-305
5/5/2011 W Hollard Debit Order Insurance 364.80 IS-340
5/8/2011 D ABC Limited INV0055 Accounting Services 17,100.00 IS-100
5/8/2011 W Waltons Invoice Paper 228.00 IS-325
5/15/2011 W ABSA Bank Statement Service Fees 57.00 IS-315
5/22/2011 W PQW Parking TR5674 Parking 641.82 IS-390
5/22/2011 W Waltons Invoice Paper 228.00 IS-325
5/26/2011 W Payroll Payroll Salaries 13,000.00 IS-365
5/26/2011 W PR Properties Debit Order Rent 5,700.00 IS-350
5/26/2011 W SQ Financial Services Debit Order Interest paid 100.00 IS-500
5/27/2011 D LS Retail X9987 Commission Received 5,962.20 IS-200
5/31/2011 W XY Solutions Invoice EXP12 Internet Service Provider 165.30 IS-380
6/2/2011 W IAS Accountants Invoice Bookkeeping 912.00 IS-305
6/5/2011 W Hollard Debit Order Insurance 364.80 IS-340
6/5/2011 W Waltons Invoice Paper 228.00 IS-325
6/10/2011 D SQ Financial Services Statement Loan Received 8,100.00 BS-700
6/11/2011 D XX Building Supplies INV0057 Accounting Services 4,560.00 IS-100
6/15/2011 W ABSA Bank Statement Service Fees 57.00 IS-315
6/15/2011 W Finance Week Bank Statement Annual Subscription 1,368.00 IS-375
6/19/2011 W Waltons Invoice Paper 228.00 IS-325
6/25/2011 W XR Supplies Invoice Computer equipment 5,700.00 BS-100
6/26/2011 W Payroll Payroll Salaries 13,000.00 IS-365
6/26/2011 W PR Properties Debit Order Rent 5,700.00 IS-350
6/26/2011 W SQ Financial Services Debit Order Capital repayment 220.00 BS-700
6/26/2011 W SQ Financial Services Debit Order Interest paid 100.00 IS-500
6/26/2011 D TRF Solutions INV0058 Accounting Services 15,276.00 IS-100
7/1/2011 D WW Retail INV0059 Taxation Services 5,130.00 IS-100
7/1/2011 W XY Solutions Invoice EXP13 Internet Service Provider 165.30 IS-380
7/3/2011 W IAS Accountants Invoice Bookkeeping 912.00 IS-305
7/3/2011 W Waltons Invoice Paper 250.17 IS-325
7/5/2011 W Hollard Debit Order Insurance 364.80 IS-340
7/11/2011 W PQW Parking TR5982 Parking 229.14 IS-390
7/15/2011 W ABSA Bank Statement Service Fees 57.00 IS-315
7/17/2011 W SPAR IN1123 Consumables 111.72 IS-325
7/23/2011 D DF Manufacturing INV0060 Accounting Services 3,192.00 IS-100
7/26/2011 W Payroll Payroll Salaries 13,000.00 IS-365
7/26/2011 W PR Properties Debit Order Rent 5,700.00 IS-350
7/26/2011 W SQ Financial Services Debit Order Capital repayment 220.00 BS-700
7/26/2011 W SQ Financial Services Debit Order Interest paid 100.00 IS-500
7/31/2011 D DF Manufacturing INV0062 Consulting Services 25,080.00 IS-100
7/31/2011 W XY Solutions Invoice EXP14 Internet Service Provider 165.30 IS-380
8/2/2011 W IAS Accountants Invoice Bookkeeping 912.00 IS-305
8/4/2011 D Digicom INV0061 Consulting Services 36,480.00 IS-100

Page 3 of 8
Vega Limited
Cashbook Transactions

Transaction Account
Date Type Customer / Supplier Reference Description Amount Number
8/5/2011 W Hollard Debit Order Insurance 364.80 IS-340
8/15/2011 W ABSA Bank Statement Service Fees 57.00 IS-315
8/26/2011 W Payroll Payroll Salaries 13,000.00 IS-365
8/26/2011 W PR Properties Debit Order Rent 5,700.00 IS-350
8/26/2011 W SQ Financial Services Debit Order Capital repayment 220.00 BS-700
8/26/2011 W SQ Financial Services Debit Order Interest paid 100.00 IS-500
8/27/2011 W MM Brokers O/B S77782 Investment in Shares 5,100.00 BS-200
8/30/2011 W PQW Parking TR6290 Parking 202.92 IS-390
8/31/2011 W XY Solutions Invoice EXP15 Internet Service Provider 204.06 IS-380
9/2/2011 W IAS Accountants Invoice Bookkeeping 912.00 IS-305
9/3/2011 D FS Financial Services INV0063 Consulting Services 26,220.00 IS-100
9/5/2011 W Hollard Debit Order Insurance 364.80 IS-340
9/6/2011 W RT Office Supplies T2518536 Office chair 1,821.72 IS-345
9/12/2011 D PTY Consultants INV0064 Consulting Services 13,680.00 IS-100
9/15/2011 W ABSA Bank Statement Service Fees 57.00 IS-315
9/21/2011 W Town Council Statement Rates 4,752.00 IS-395
9/26/2011 W Payroll Payroll Salaries 13,000.00 IS-365
9/26/2011 W PR Properties Debit Order Rent 5,700.00 IS-350
9/26/2011 W SQ Financial Services Debit Order Capital repayment 220.00 BS-700
9/26/2011 W SQ Financial Services Debit Order Interest paid 100.00 IS-500
10/1/2011 W XY Solutions Invoice EXP16 Internet Service Provider 204.06 IS-380
10/3/2011 W IAS Accountants Invoice Bookkeeping 912.00 IS-305
10/4/2011 W SPAR IN1145 Consumables 59.28 IS-325
10/5/2011 W Hollard Debit Order Insurance 364.80 IS-340
10/9/2011 D IT Solutions INV0065 Consulting Services 20,520.00 IS-100
10/15/2011 W ABSA Bank Statement Service Fees 57.00 IS-315
10/19/2011 W PQW Parking TR6598 Parking 3,420.00 IS-390
10/21/2011 D DF Manufacturing INV0066 Consulting Services 15,390.00 IS-100
10/26/2011 W Payroll Payroll Salaries 13,000.00 IS-365
10/26/2011 W PR Properties Debit Order Rent 5,700.00 IS-350
10/26/2011 W SQ Financial Services Debit Order Capital repayment 220.00 BS-700
10/26/2011 W SQ Financial Services Debit Order Interest paid 100.00 IS-500
10/31/2011 W XY Solutions Invoice EXP17 Internet Service Provider 204.06 IS-380
11/2/2011 W GF Training Invoice Course 769.50 IS-385
11/2/2011 W IAS Accountants Invoice Bookkeeping 912.00 IS-305
11/3/2011 D GP Accountants INV0067 Accounting Services 3,762.00 IS-100
11/3/2011 D GP Accountants INV0067 Taxation Services 2,451.00 IS-100
11/3/2011 D GP Accountants INV0067 Secretarial Services 1,026.00 IS-100
11/5/2011 W Hollard Debit Order Insurance 364.80 IS-340
11/7/2011 W Economist 628054 Subscription 516.70 IS-375
11/15/2011 W ABSA Bank Statement Service Fees 57.00 IS-315
11/26/2011 W Payroll Payroll Salaries 13,000.00 IS-365
11/26/2011 W PR Properties Debit Order Rent 5,700.00 IS-350
11/26/2011 W SQ Financial Services Debit Order Capital repayment 220.00 BS-700
11/26/2011 W SQ Financial Services Debit Order Interest paid 100.00 IS-500
11/30/2011 D CC Supplies INV0068 Accounting Services 3,762.00 IS-100
12/1/2011 W XY Solutions Invoice EXP18 Internet Service Provider 204.06 IS-380
12/3/2011 W IAS Accountants Invoice Bookkeeping 912.00 IS-305
12/5/2011 W Hollard Debit Order Insurance 364.80 IS-340
12/5/2011 D TRF Solutions INV0069 Consulting Services 17,100.00 IS-100
12/8/2011 W PQW Parking TR6906 Parking 228.00 IS-390
12/15/2011 W ABSA Bank Statement Service Fees 57.00 IS-315
12/22/2011 W SPAR IN1149 Consumables 59.28 IS-325
12/26/2011 W Payroll Payroll Salaries 13,000.00 IS-365
12/26/2011 W PR Properties Debit Order Rent 5,700.00 IS-350
12/26/2011 W SQ Financial Services Debit Order Capital repayment 220.00 BS-700
12/26/2011 W SQ Financial Services Debit Order Interest paid 100.00 IS-500
12/30/2011 D ABC Limited INV0070 Consulting Services 16,986.00 IS-100
12/31/2011 W XY Solutions Invoice EXP19 Internet Service Provider 204.06 IS-380
1/2/2012 W IAS Accountants Invoice Bookkeeping 912.00 IS-305
1/4/2012 D EC Estate Agents INV0071 Taxation Services 9,311.52 IS-100
1/5/2012 W Hollard Debit Order Insurance 387.60 IS-340
1/15/2012 W ABSA Bank Statement Service Fees 57.00 IS-315
1/25/2012 D DF Manufacturing O/B INV0051 Consulting Services 9,120.00 IS-100
1/25/2012 D The Paint Shop INV0072 Taxation Services 2,793.00 IS-100
1/26/2012 W Payroll Payroll Salaries 13,000.00 IS-365

Page 4 of 8
Vega Limited
Cashbook Transactions

Transaction Account
Date Type Customer / Supplier Reference Description Amount Number
1/26/2012 W PR Properties Debit Order Rent 5,700.00 IS-350
1/26/2012 D PTY Consultants INV0074 Consulting Services 21,888.00 IS-100
1/26/2012 W SQ Financial Services Debit Order Capital repayment 220.00 BS-700
1/26/2012 W SQ Financial Services Debit Order Interest paid 100.00 IS-500
1/27/2012 W Qantas SA8234 Travel 1,273.38 IS-390
1/27/2012 D WW Retail INV0073 Consulting Services 20,520.00 IS-100
1/31/2012 W XY Solutions Invoice EXP20 Internet Service Provider 204.06 IS-380
2/2/2012 W IAS Accountants Invoice Bookkeeping 912.00 IS-305
2/5/2012 W Hollard Debit Order Insurance 387.60 IS-340
2/15/2012 W ABSA Bank Statement Service Fees 57.00 IS-315
2/17/2012 W SPAR IN1156 Consumables 111.72 IS-325
2/18/2012 D WS Wholesale INV0075 Consulting Services 19,365.18 IS-100
2/26/2012 W Payroll Payroll Salaries 13,000.00 IS-365
2/26/2012 W PR Properties Debit Order Rent 5,700.00 IS-350
2/26/2012 W SQ Financial Services Debit Order Capital repayment 220.00 BS-700
2/26/2012 W SQ Financial Services Debit Order Interest paid 100.00 IS-500
2/28/2012 W XY Solutions Invoice EXP21 Internet Service Provider 351.12 IS-380

Page 5 of 8
Vega Limited
Cash balance

Total Deposits: ₱ 417,081.22 D

Total Withdrawals: ₱ 263,041.84 W
Balance 154,039.38

RECAPITULATION

Acc No Account Description Deposits Withdrawal Balance No. of Transactions

IS-100 Income from Services ₱ 402,791.02 ₱ - ₱ 402,791.02 30 D W
IS-200 Other Income ₱ 5,962.20 ₱ - ₱ 5,962.20 1 D W
IS-305 Accounting Fees ₱ - ₱ 10,032.00 -₱ 10,032.00 11 D W
IS-310 Advertising & Marketing ₱ - ₱ - ₱ - 0 D W
IS-315 Bank Charges ₱ - ₱ 684.00 -₱ 684.00 12 D W
IS-320 Commission ₱ - ₱ - ₱ - 0 D W
IS-325 Computer Expenses ₱ 228.00 ₱ 1,732.17 -₱ 1,504.17 11 D W
IS-330 Consumables & Cleaning ₱ - ₱ - ₱ - 0 D W
IS-335 Entertainment ₱ - ₱ - ₱ - 0 D W
IS-340 Insurance ₱ - ₱ 4,423.20 -₱ 4,423.20 12 D W
IS-345 Office Expenses ₱ - ₱ 1,821.72 -₱ 1,821.72 1 D W
IS-350 Office Rent ₱ - ₱ 68,400.00 -₱ 68,400.00 12 D W
IS-355 Postage ₱ - ₱ - ₱ - 0 D W
IS-360 Professional & Legal Fees ₱ - ₱ - ₱ - 0 D W
IS-365 Salaries & Wages ₱ - ₱ 146,000.00 -₱ 146,000.00 12 D W
IS-370 Stationery ₱ - ₱ - ₱ - 0 D W
IS-375 Subscriptions & Memberships ₱ - ₱ 1,884.70 -₱ 1,884.70 2 D W
IS-380 Telephone & Internet ₱ - ₱ 2,567.28 -₱ 2,567.28 13 D W
IS-385 Training ₱ - ₱ 769.50 -₱ 769.50 1 D W
IS-390 Travelling & Accommodation ₱ - ₱ 5,995.26 -₱ 5,995.26 6 D W

Page 6 of 8
Vega Limited
Cash balance

Total Deposits: ₱ 417,081.22 D

Total Withdrawals: ₱ 263,041.84 W
Balance 154,039.38

RECAPITULATION

Acc No Account Description Deposits Withdrawal Balance No. of Transactions

IS-395 Utilities ₱ - ₱ 4,752.00 -₱ 4,752.00 1 D W
IS-500 Interest Paid ₱ - ₱ 1,200.00 -₱ 1,200.00 12 D W
IS-600 Taxation ₱ - ₱ - ₱ - 0 D W
IS-700 Other Expenses ₱ - ₱ - ₱ - 0 D W
BS-100 Fixed Assets ₱ - ₱ 5,700.00 -₱ 5,700.00 1 D W
BS-200 Investments ₱ - ₱ 5,100.00 -₱ 5,100.00 1 D W
BS-700 Long Term Liabilities ₱ 8,100.00 ₱ 1,980.00 ₱ 6,120.00 10 D W
BS-800 Share Capital ₱ - ₱ - ₱ - 0 D W
TOTAL ₱ 417,081.22 ₱ 263,041.84 ₱ 154,039.38

Page 7 of 8
Vega Limited
Income Statement

Acc No Account Description Amount

Income
IS-100 Income from Services ₱ 402,791.02
IS-200 Other Income ₱ 5,962.20

TOTAL INCOME ₱ 408,753.22

Expenses
IS-305 Accounting Fees -₱ 10,032.00
IS-310 Advertising & Marketing ₱ -
IS-315 Bank Charges -₱ 684.00
IS-320 Commission ₱ -
IS-325 Computer Expenses -₱ 1,504.17
IS-330 Consumables & Cleaning ₱ -
IS-335 Entertainment ₱ -
IS-340 Insurance -₱ 4,423.20
IS-345 Office Expenses -₱ 1,821.72
IS-350 Office Rent -₱ 68,400.00
IS-355 Postage ₱ -
IS-360 Professional & Legal Fee ₱ -
IS-365 Salaries & Wages -₱ 146,000.00
IS-370 Stationery ₱ -
IS-375 Subscriptions & Members-₱ 1,884.70
IS-380 Telephone & Internet -₱ 2,567.28
IS-385 Training -₱ 769.50
IS-390 Travelling & Accommoda-₱ 5,995.26
IS-395 Utilities -₱ 4,752.00
IS-500 Interest Paid -₱ 1,200.00
TOTAL EXPENSES -₱ 250,033.84

Net Income ₱ 158,719.38