1. Prepare depreciation schedules using Straight-Line, Activity Based, and Double-Declining Balance Depreciation. Finance Depreciation Schedules - Excel FILE HOME INSERT PAGE LAYOUT FORMULAS DATA ? REVIEW VIEW Sign In Calibri 11 - ' ' % Paste BIU Alignment Number Conditional Format as Cell Formatting Table Styles Cells Editing Clipboard Font Styles A1 fx Sullivan Ranch Corporation has purchased a new tractor. The following A B 1 Sullivan Ranch Corporation has purchased a new tractor. The following information is given: 2 3 Cost: $ 150,000 4 Estimated Residual: $ 10,000 5 Estimated Life in years: 4 6 Estimated Life in hours: 7 Actual Hours: 1200 8 Year 1 9 Year 2 10 Year 3 11 Year 4 12 360 270 350 220 E F G H Prepare the following Straight Line depreciation schedule by using the excel SLN FUNCTION (fx) to calculate the 13 Depreciation Expense for Years 1-4 in the Depreciation Expense column. Enter formulas or absolute cell references for the remaining cells. 14 15 16 17 SULLIVAN RANCH CORPORATION Depreciation Schedule-Straight Line Method 18 End of year amounts 19 Year Depreciation Expense Accumulated Depreciation Book Value 20 1 21 2 22 3 23 4 24 Total 25 Prepare the following Units-of-Production depreciation schedule by entering formulas. READY Attempt(s) Sheet1 60% Hint