 ```Electronic Filing
and Calculating
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To use percent key to calculate percentages.
To use formulas to calculate the percentage,
base, and rate in business problems.
To complete deposit slips and reconcile a bank
statement balance and a checkbook balance.
To record petty cash vouchers and calculate
petty cash fund balance.
To calculate payroll.
Percents
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In Task 8, we discussed percent as a relationship
between two numbers.
The example was 8 cans in a case and if six cans are
sold, a relationship between the number sold and the
whole amount is established.
 So 6/8 or .75 or 75% of the case has been sold.
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Percent (con’t)
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In the example mentioned, there are three
elements involved in the relationship.
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The base (whole amount represented by 100%).
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The rate (a part of the base expressed as a percent).
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8 cans in a case
6/8 or 75% of the case was sold
The percentage (a part of the base expressed as an
amount when the rate is applied to the base).
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6 cans sold
Do not confuse the terms percentage and percent. Percentage is the part (amount) taken
from base and percent is rate of that part and will always be followed by percent sign.
Percent Key Feature
Percents do not need to be converted
into a decimal when the Percent Key is
used. Use the Percent Key [%] instead
of the Equals Key [=] to obtain the
Practice Percent Key
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Clear the calculator (CE).
Set Decimal Selector on 2.
Set Rounding Selector on 5/4.
Enter 319 and strike the [x] Multiplication Key.
Enter 4 and strike the [%] Percent Key.
Did you get \$12.76?
Complete problems 2 through 5 in class.
Complete 6 through 10 on own.
Identifying the Missing Element
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In business calculations, one of three elements
often will be missing (base, rate, or
percentage).
It is necessary to determine which element is
missing and apply the formula to calculate it.
B = Base (whole amount)
 R = Rate (part expressed as a percent)
 P = Percentage (part expressed as an amount)
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Practice Identifying Missing
Elements
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Remember:
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Identify the missing element 177 is ___% of 590
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Of can precede the base in every situation.
Is usually precedes or follows the percentage.
Percent sign always follows the rate.
Percentage is 177. (Is follows 177)
Base is 590. (Of precedes 590)
Rate is missing. (Number is followed by a percent sign.
Complete problems 12 through 15 in class.
Complete 16-25 on own.
Formulas
Use the following formulas
to calculate the missing
element.
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Base: B = P &divide; R
Rate: R = P &divide; B
Percentage: P = B x R
Calculating the Percentage (Part)
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Formula: P = BR
The percentage may be smaller or larger than
the whole depending on the percent.
The multiplication sign can be substituted for
the word of.
Clear the calculator (CE)
 Set decimal selector on 2 and rounding selector on
5/4
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Practice Calculating Percentage
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What is 60% of \$1,540?
Base is 1,540 and Rate is 60%
 Enter 1,540 and strike the Multiplication Key [x]
 Enter 60 and strike the Percent Key [%]
 Did you get \$924.00?
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Complete problems 27 through 30 in class.
Complete 31 through 35 on own.
Remember: P = BR
Calculating the Rate (Percent)
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Problem: \$2,940 is what percent of \$24,500?
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Clear the calculator (CE)
Set Decimal Selector on 2 and rounding on 5/4
2,940 is Percentage; 24,500 is Base
Enter 2940 and strike the Division Key [&divide;]
Enter 24500 and strike the Percent Key [%]
Did you get 12%?
Complete problems 37 through 40 together in class.
Complete 41 through 45 on own.
Remember: R = P &divide; B
Calculating the Base (Whole)
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Problem: 230 is 20% of what amount?
Clear the calculator (CE)
 Set Decimal Selector on 2 and rounding on 5/4
 230 is percentage; 20% is rate
 Enter 230 and strike the Division Key [&divide;]
 Enter 20 and strike the Percent Key [%]
 Did you get \$1,150.00?
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Calculate problems 47 through 50 in class.
Calculate 51 through 55 on own.
Remember: B = P &divide; R
Complete Problems
56-70 on own
Special Percent
Features
When dealing with sales, you may have
an additional tax calculation after the
percentage is obtained.
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Problem: \$350.27 for total sales receipts and 8% tax
rate is applied for computation of the total amount
due.
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Clear the calculator (CE)
Set Decimal Selector on 2 and rounding on 5/4
Enter 350.27 and strike Multiplication Key [x]
Enter 8 and strike the Percent Key [%]
Did you get \$28.02?
Tap the Plus-Equals Key [+=].
Did you get \$378.29?
Complete problems 72 through 74 in class using an 8%
tax on total sales.
Complete 75 through 80 on own.
Calculate Percent
Increase or Decrease
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Businesses often compare amount of difference
and the percent change.
The base is the original amount and the
percentage is the second amount.
If base is smaller than second amount, there is a
percent increase.
 If the base is larger than second amount, there is a
percent decrease.
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Practice Percent Increase or
Decrease
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Compare one month of income with another.
Clear the calculator (CE)
 Set Decimal Selector on 2 and rounding on 5/4
 Subtract first month from second month
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April (27,489) [-] March (24,589) Did you get 2,900?
Strike the Division Key [&divide;]
 Enter first month (24,589) and strike the Percent
Key [%]. Did you get 11.79%?
 Complete problems 82 through 85 in class
 Complete 86 through 91 on own.
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Problems 92-107
You do not need to complete on p. 51.
Calculating Salary
Increase
Annual employee performance appraisal.
Each evaluated on 11 factors and given a
score between 0 and 100 for each factor.
Anyone receiving an average score of 70
or above qualifies for salary increase.
Practice Calculating Salary Increase
Set Decimal Selector on 0 and rounding to round up
 Calculate the average score (total score &divide; 11). Use
Constant [K] feature (781 &divide; 11 [=] 880 [=] 1,008 [=]
etc.)
 Refer to chart on p. 52 to record bonus percent on
average score
 Multiply bonus percent and current monthly salary
to obtain proposed monthly salary use percent addon feature (1650 [x] 3.5 [%] [=]) Did you get \$1,708?
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Practice Salary Increase (con’t)
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Total current monthly salary column (#146)
Total proposed monthly salary column (#147)
Calculate percent increase of total proposed
monthly salary over the current monthly salary
(proposed [+] current [-] [&divide;] proposed [%])
Set Decimal Selector on 2 and rounding on 5/4
 43,025 [+] 41,171 [-] [&divide;] 43,025 [%]
 Did you get 4.5%?
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Banking Records
Banking Definitions
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Deposit slip is the form prepared by the
bank listing all cash and checks to be
deposited.
Payor is the person who signs the check.
ABA Number (American Bankers
Association) is the number located in the
upper right-hand corner of the check.
Practice Completing Deposit Slips
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Clear calculator (CE).
Set Decimal Selector on 2 and rounding on
5/4.
Record the bills. (\$132.00)
Record the coins. (\$.87)
List each check separately by ABA number or
payor.
Total amounts listed.
Complete 2 through 3 in class.
Maintaining Bank Account Balance
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A checkbook consists of checks and either
check stubs (p. 56) or a check register (p. 61).
A check is an order directing the bank to make
payment from a bank account.
To keep a current balance of account, add all
deposits and subtract all checks from the
preceding balance on the check stub or register.
A copy of check information is recorded on
stub or register.
Practice Completing Check Stubs
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Clear calculator (CE).
Set Decimal Selector on 2 and rounding on 5/4.
Add balance brought forward (\$1,923.58) and the
deposit (\$100.00).
Record the total (1,923.58 [+] 100.00 [+/=] \$2,023.58)
Subtract check amount from total. (2,023.58 [+] 64.20
[-] [=]
Record balance (\$1,959.38).
Complete problems 4-7 in class.
Complete 8-12 on own.
Bank Reconciliation
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Once a month the bank sends a statement
showing account transactions.
Compare your check stubs or register with bank
statement to detect errors.
services charges and etc. If you have an
interest-bearing account, interest earned needs
Reconciliation Process
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Compare deposits made. If there are outstanding
deposits (a deposit that has been made but not yet
processed by the bank), add deposits to statement’s
balance.
Compare checks written. If there are outstanding
checks (a written check not yet processed by the bank)
not shown on statement, subtract them from
statement’s balance.
Subtract charges shown on statement from checkbook
balance.
Add any interest earned to checkbook balance.
Subtract bank drafts (automatic payments), ATM
withdrawals, etc. from checkbook balance.
Reconciling Bank Statements
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Bank Statement Balance
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Checkbook Balance
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Record bank statement balance. (2,318.20)
List and add outstanding deposits and record subtotal.
List and total outstanding checks. Subtract from subtotal
above and record the adjusted bank statement balance.
Record checkbook balance.
Record and subtract any services charges and record and add
any interest earned.
Complete problem 13, page 59 in class.
Complete 14 on own.
Locating Errors in Checkbook
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When checkbook and bank statement disagree,
look for errors in:
Deposits. Were they all recorded and added
correctly.
 Checks. Match checks listed on statement with
checks on stubs or register.
 Calculations. Check all addition and subtraction
entries. If error was made, determine difference and
add or subtract the difference from checkbook
balance.
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Practice Correcting Checkbook
Errors
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Calculate error amounts and record
amounts. Write Add if the difference
should be added to checkbook balance or
sub if difference should be subtracted from
checkbook balance.
Complete problem 20 on own.
Petty Cash
A predetermined amount of cash on
hand to pay for miscellaneous items
and to make change when needed.
Petty Cash Fund
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Checks written for small amounts, called petty
cash payments, are paid from a petty cash fund.
A petty cash voucher (a printed receipt) is
completed for each payment and kept in a petty
cash box. The cash plus the total of cash
vouchers should equal the original amount
established for the fund.
A petty cash book is used to track all money spent
from the petty cash fund.
Petty Cash Book
Used to track all money spent from the
petty cash fund.
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Recording the Vouchers
Enter date in Date column
(record month on first line only)
 Record explanation in
Explanation column
 Record voucher number in the
Voucher No. column
 Record the amount of the
voucher in Payment column
 Calculate balance after each entry
in the Balance column (previous
balance minus payment)
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Replenish the Fund
At end of month, replenish cash to
original amount.
After last entry, write Total under Explanations
column, bring down total of beginning receipts, total
payments, draw a double line under totals.
 Write Ending Balance in the Explanation column.
Record the ending balance amount in Receipts
column (total receipts minus payments) on line
below totals.
 Write Replenish Fund in Explanation column with the
amount needed to total the original petty fund
amount (receipts minus ending balance) on the next
line under ending balance.
 On the same line as replenish fund amount, total the
ending balance and replenish fund and place amount
in the Balance column.
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Cash Short or Over
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After replenishing the petty cash box, if the
actual cash is more than the book balance, the
cash if over. If the actual cash is less than the
book balance, the cash is short.
A notation is made in petty cash book indicating
the amount short or over.
Actual cash in petty cash box is adjusted by the
amount short or over.
Calculate the Problem
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Petty cash fund amount is \$75. Balance in petty cash book
is \$13.50. Actual cash in petty cash box is \$12.25.
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Clear calculator. Use memory feature.
Set Decimal Selector on 2.
Set Rounding Selector on 5/4.
Calculate amount need to replenish fund (75 [-] 12.25). Did you
get \$62.75?
Calculate the shortage (13.50 [-] 12.25). Did you get \$1.25?
Add shortage to amount to replenish (62.75 [+] 1.25).
The words Replenish Fund, Short \$1.25 would be written in
Explanation column.
Practice Cash Short
or Over
Complete problems 6 &amp; 7 together in class.
Write the word Over or Short next to the
Problems 8-14
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Do on own. Remove form 11-1 from p. 145.
Complete top Petty Cash Book. Use March
information on p. 65.
For problem 14, total the March Cash to
determine if there is a shortage or overage. If
there is, include the notation after Replenish
Fund in the Explanation column and on Answer
Sheet.
Payroll Earnings
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Payroll records must be current and processed
following procedures that ensure correctness.
Methods used for calculating vary.
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Wages may be paid based on hourly rates (often with
overtime pay).
Commissions may be paid as a portion of sales, piecework
production or straight salary.
Payments can be daily, weekly, biweekly, monthly, or
semimonthly.
Gross earnings is amount earned.
Net earnings is amount received after deductions from
gross earnings.
Pay Periods and Gross Salary
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Annual salary is divided by number of pay
periods in a year.
Semimonthly—24 pay periods
 Monthly—12 pay periods
 Biweekly—26 pay periods
 Weekly—52 pay periods
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Practice Pay Periods and Gross
Salary
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Calculate gross salary per pay period.
Clear calculator (CE)
 Set Decimal Selector on 2 and rounding on 5/4
 Determine number of pay periods in a year and
write in column one.
 Calculate gross salary per pay period by dividing
annual salary by the number of pay periods.
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22,750 [&divide;] 24 [=]
 Did you get \$947.92?
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Complete problems 2 and through 5 in class.
Salary Increase Plus
Merit Pay
Changes in salary may occur due to
and/or merit pay.
Practice Salary Increase
Plus Merit Pay
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Clear calculator (CE)
Set Decimal Selector on 2 and rounding on 5/4
Using Decimal Equivalent
1.
2.
3.
4.
5.
6.
7.
Mentally add the percent increase to 100% (5% [+] 100%
= 105%)
Multiply current annual salary by decimal equivalent of
105% (22,750 [x] 1.05 [=] 23,887.50)
Tap the Plus Key [+] to re-enter \$23,887.50
Enter merit pay and tap Plus Key (350 [+])
Did you get 24,237.50 for the new annual salary?
Calculate salary per pay period ( [&divide;] 24 [=]).
Did you get \$1,009.90?
Practice Salary Increase
Plus Merit Pay (con’t)
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1.
Multiply the current salary by the percent increase.
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5.
6.
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22,750 x 5 [%]. Did you get \$1,137.50?
Tap the Plus Key. Did you get \$23,887.50?
Tap the Plus Key to reenter \$23,887.50.
Enter merit pay and tap Plus Key (350 +)
Did you get 24,237.50 for the new annual salary?
Calculate salary per pay period ( [&divide;] 24 [=]).
Complete problems 7 through 9 in class
Complete 10-15 on own.
Salary Plus
Commission
Sales people are compensated with
straight commissions or salary plus
commission (percent of total sales or a
graduated scale based on varying sales
totals.
Practice Salary Plus Commission
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Clear calculator (CE)
Set Decimal Selector on 2 and rounding on 5/4
Calculate commission earned by multiplying
total sales by commission rate. (\$63,000 x 4 [%] =
\$2,520.00)
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Calculate gross salary by adding commission
earned to base salary. ([M+] \$3,000 [M+] [*M]). Did
you get \$5,520?
Complete problems 17 through 18.
Complete 19 and 20 on own.
Hourly Earnings
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A time clock is commonly used to track the number
of hours worked by employees paid on an hourly
basis.
Forty hours per week or eight hours per day is
considered regular pay.
Overtime pay may be based on hours worked over
eight hours per day or hours worked over forty
hours per week is typically calculated at 1 &frac12; times
regular rate.
Practice Calculating Hourly
Earnings
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Clear calculator (CE)
Set Decimal Selector on 2 and rounding on 5/4.
Calculate regular earnings by multiplying regular
hours by rate per hour.
Calculate overtime rate by multiplying rate per
hour by 1.5.
Calculate overtime earnings by multiplying
number of overtime hours by overtime rate.
Calculate gross earnings by adding regular
earnings and overtime earnings. (over)
Practice Calculating Hourly
Earnings (con’t)
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Use memory feature
Regular earnings—(40 [x] \$7.95 [=] \$318.00 [M+])
Overtime rate—(7.95 [x] 1.5 [=] \$11.93)
Overtime earnings—(43 [+] 40 [-] [*] 3 [x] \$11.93 [=]
\$35.79 [M+])
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Gross earnings –\$318.00 [+] \$35.79 (Tap [*M]).
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Did you get \$353.79?
Complete problems 22 through 23
Complete 24 and 25 on own.
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Piecework Plus Bonus
Some manufacturing firms pay
employees based on number of units
produced each day. When established
standards are exceeded, the employee
Practice Piecework Plus Bonus
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Clear calculator (CE)
Set Decimal Selector on 2 and rounding on 5/4
Use memory feature
Calculate regular earnings by multiplying rate per unit
by standard units.
Calculate units produced above standard by subtracting
standard units from units produced.
Calculate bonus earnings by multiplying units produced
above standard by bonus rate.
Calculate gross earnings by adding regular earnings and
bonus earnings.
Practice Piecework Plus Bonus (con’t)
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Regular earnings—(\$1.23 [x] 1,200 [=]) [M+]
Did you get \$1,476.00?
Units above standard—(1,700 [+] 1,200 [-] [*])
Did you get 500?
Bonus earnings—(500 [x] \$2.00 [=]) [M+] Did
you get \$1,000.00?
Gross earnings—([*M]) Did you get \$2,476.00?
Complete problems 27 and 28 in class.
Complete 29 and 30 on own.
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