Budgeting Excel Case
Create a Master Budget for “Widgets R Us”, a merchandising company, for the three month period ending June 30. The entire budget must be completed in Excel. Keep in mind that since Widgets R Us is a merchandising company, they will have a different master budget structure than a manufacturing company.
You will be sent an Excel file in your Canvas inbox that will be used as a starting point. You must use your assigned starting data that is included in the file that is sent to your inbox.
Your budget must include all required detailed schedules, budgets, and pro forma financial statements (Income Statement, Statement of Retained Earnings, and Balance Sheet) for a merchandising company.
Master budgets must include Cash Budgets, but it is not necessary to include a pro forma Statement of Cash Flows.
Each budget and/or schedule must have columns for all three months in the quarter, followed by a column with total amounts for the quarter. Pro-forma financial statements are done once for the quarter, not monthly.
The structure for each budget, schedule, or financial statement must match the structures used in your Comprehensive Merchandise Budget Required Assignment in Connect, even if the structure does not match your textbook! Points will be deducted if your budgets, schedules, and financial statements do not match the structure of the items in your Merchandise Budget Connect assignment.
Proper use of Excel formulas and cell references is required. You will lose points anywhere a cell is not using cell references and/or formulas.
A portion of your grade will be based on your formatting of your Excel file. You should format the file as if you are submitting it to your manager at work (don’t forget print settings for clean printouts).
Your assignment will be graded according to the rubric, so be sure to view the rubric before beginning the assignment and as you work on the assignment.
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