Sullivan Ranch Corporation has purchased a new tractor. The following information is given: Cost: $ 150,000 Estimated Residual: $ 10,000 Estimated Life in years: 4 Estimated Life in hours: 1200 Actual Hours: Year 1 360 Year 2 270 Year 3 350 Year 4 220 2 Prepare the following Straight Line depreciation schedule by using the excel SLN FUNCTION (fx) to calculate the Depreciation Expense for Years 1-4 in the Depreciation Expense column. Enter formulas or absolute cell references for the remaining cells. SULLIVAN RANCH CORPORATION Depreciation Schedule-Straight Line Method End of year amounts Depreciation Expense Accumulated Year Book Value Depreciation 1 3 4 Total Prepare the following Activity-Based depreciation schedule by entering formulas. 5 Use absolute cell references when appropriate. SULLIVAN RANCH CORPORATION Depreciation Schedule-Units-of-Production Method End of year amounts Accumulated Depreciation Expense Year Book Value Depreciation 1 3 4 Total Prepare the following Double-Declining-Balance depreciation schedule by using the Excel DDB FUNCTION (fx) to calculate Depreciation Expense for Years 1-4 in the Depreciation Expense column. Enter formulas or absolute cell references for the remaining cells. SULLIVAN RANCH CORPORATION Depreciation Schedule-Double-Declining-Balance Method End of year amounts Depreciation Expense Accumulated Year Book Value Depreciation 1 3 4 Total
Sullivan Ranch Corporation has purchased a new tractor. The following information is given: Cost: $ 150,000 Estimated Residual: $ 10,000 Estimated Life in years: 4 Estimated Life in hours: 1200 Actual Hours: Year 1 360 Year 2 270 Year 3 350 Year 4 220 2 Prepare the following Straight Line depreciation schedule by using the excel SLN FUNCTION (fx) to calculate the Depreciation Expense for Years 1-4 in the Depreciation Expense column. Enter formulas or absolute cell references for the remaining cells. SULLIVAN RANCH CORPORATION Depreciation Schedule-Straight Line Method End of year amounts Depreciation Expense Accumulated Year Book Value Depreciation 1 3 4 Total Prepare the following Activity-Based depreciation schedule by entering formulas. 5 Use absolute cell references when appropriate. SULLIVAN RANCH CORPORATION Depreciation Schedule-Units-of-Production Method End of year amounts Accumulated Depreciation Expense Year Book Value Depreciation 1 3 4 Total Prepare the following Double-Declining-Balance depreciation schedule by using the Excel DDB FUNCTION (fx) to calculate Depreciation Expense for Years 1-4 in the Depreciation Expense column. Enter formulas or absolute cell references for the remaining cells. SULLIVAN RANCH CORPORATION Depreciation Schedule-Double-Declining-Balance Method End of year amounts Depreciation Expense Accumulated Year Book Value Depreciation 1 3 4 Total
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter7: Fixed Assets, Natural Resources, And Intangible Assets
Section: Chapter Questions
Problem 7.2.1MBA
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