144 Insert Page Layout Formulas Data Review View Developer Help EW Recarehfiles from the internet can contain wnnes Unless you need to edit it's safer to stay in Protected View AL B C D E Plant Assets, Natural Resources, and Intangibles F G H 1 Plant Assets, Natural Resources, and Intangibles 2 Using Excel to prepare depreciation schedules 3 Enable Editing K M N P Q The Fraser River Corporation has purchased a new piece of factory equipment on January 1, 2018, and wishes to compare three 4 depreciation methods: straight-line, double-declining-balance, and units-of-production. The equipment costs $400,000 and has an estimated useful life of four years, or 8,000 machine hours. At the end of four years, the 5 equipment is estimated to have a residual value of $20,000. 6 Use the blue shaded areas on the ENTER-ANSWERS tab for inputs. 7 ALWAYS use cell references and formulas where appropriate to receive full credit. Copy/pasting values will NOT earn full points. 8 9 10 Requirements 11 12 13 14 15 16 1 Use Excel to prepare depreciation schedules for straight-line, double-declining balance, and units-of-production methods. 2 Prepare a second depreciation schedule for double-declining balance method, using the Excel function DDB. The DOB function cannot be used in the last year of the asset's useful life. 3 At December 31, 2018, Fraser River is trying to determine if it should sell the factory equipment. Fraser River will only sell the factory equipment if the company earns a gain of at least $6,000. For each of the depreciation methods, what is the minimum amount that Fraser River will sell the factory equipment for in order to have a gain of $6,000? "For all requirements, enter all amounts as positive values. Do not use a minus sign or parentheses for any values. 17 Excel Skills 10 1 Create formulas with absolute and relative cell references... 19 2 Format the cells as accounting number format. 20 21 22 3 Use the Excel function DOB to calculate double-declining-balance depreciation. 23 Saving & Submitting Solution 24 25 26 27 28 29 30 31 32 33 1 Save file to desktop. a. Create folder on desktop, and label COMPLETED EXCEL PROJECTS b. Save your solution in the folder you just created; add-solution-date to end of file name 2 Upload and submit your file to be graded. a. Navigate back to the activity window-screen where you downloaded the initial spreadsheet b. Click Choose button under step 3 locate the file you just saved and click Open Click Upload button under step d. Click Submit button under step 4 34 Viewing Results 35 36 1 Click on Results tab in MyAccountinglab 2 Click on the Assignment you were working on Click no Prniert link this will hrine in your Sence Samman Instructions ENTERANSWERS Ready