172 Excel Assignment - Depreciation You will complete depreciation schedules for the 3 assets for every year of the asset's useful life. The depreciation schedule will show depreciation expense, accumulated depreciation and book value for each year. Then, you will prepare a partul balance sheet for the company at December 31, 2024. Note: even though the balance sheet is for 2024, you must complete the depreciation schedules for the entire life of the asset Name Sheet 1: Depreciation Russell Co purchased the following assets on lanuary 1, 2020 Bullding Equipment Cost 760.000 380,000 Residual value 60,000 20,000 25.000 Depreciation Useful method 25 varsin 720,000 units Units of production 10 years behance Actual units for the equipment 2020 82,000 2021 100.000 2022 150,000 2023 11.000 2004 125.000 2025 185.000 a) You must complete the depreciation schedules for each year of the useful lives. Please note that each plant asset has a different useful and has been assigned a different depreciation method. The table columns have been set up, so you can easily build formulas to compute Depreciation Expense, Accumulated Depreciation and Book value Enter the years for each year in the useful life of the asset. The worksheet shows 2020 for the first year for each asset. For the second year, use a formula which adds 1 to the cell containing 2020. Copy that formula for the remaining van For the Equipment, se cell references to enter the 'units in life and the 'Actual units in the table on each year. Then, build formulas for 1001 Depreciable cost (calculated as Cost - Residual value). Depreciation per unit, Depreciation Expense, Accumulated Depreciation, and Book Value, . For the Building, use a cell reference to enter the 'Useful life' for each year. Then build formulas to compute Depreciable cost (calculated as Cost - Residual value), Depreciation Expense, Accumulated Depreciation and Book Value For the Furniture, use a cell reference to enter the Useful life on each line. Use a cell reference to enter the Book value Beg of year' for 2020. Then, build formulas for Depreciation Expense, Accumulated Depreciation, Book Value End of year for each year in the useful life, and Book Value Beg of year. Remember, to force depreciation so that Book value = Residual value at the end of the furniture's useful life. NOTE: The entire depreciation schedule must be completed with formulas that use cell references only. Example: In the depreciable cost column you need to enter the cell reference for the cost minus the cell reference for the residual value. Ex: The formula must be =$B$S-SCSS instead of 760,000-60,000. b) in columns Y-AJ, show the balance sheet presentation for the plant assets on December 31, 2024. See Exhibit 9-9, Treatment 1 in Chapter 9 of the textbook You must use cell references from the various depreciation schedules for each asset balance and the related accumulated depreciation. You must use formulas to compute book values SUBMISSION INSTRUCTIONS: Please submit by the due date stated on D2L your completed assignment in an Excel file named "YOUR NAME"_ExcelDepreciation. 172 Excel Assignment - Depreciation You will complete depreciation schedules for the 3 assets for every year of the asset's useful life. The depreciation schedule will show depreciation expense, accumulated depreciation and book value for each year. Then, you will prepare a partul balance sheet for the company at December 31, 2024. Note: even though the balance sheet is for 2024, you must complete the depreciation schedules for the entire life of the asset Name Sheet 1: Depreciation Russell Co purchased the following assets on lanuary 1, 2020 Bullding Equipment Cost 760.000 380,000 Residual value 60,000 20,000 25.000 Depreciation Useful method 25 varsin 720,000 units Units of production 10 years behance Actual units for the equipment 2020 82,000 2021 100.000 2022 150,000 2023 11.000 2004 125.000 2025 185.000 a) You must complete the depreciation schedules for each year of the useful lives. Please note that each plant asset has a different useful and has been assigned a different depreciation method. The table columns have been set up, so you can easily build formulas to compute Depreciation Expense, Accumulated Depreciation and Book value Enter the years for each year in the useful life of the asset. The worksheet shows 2020 for the first year for each asset. For the second year, use a formula which adds 1 to the cell containing 2020. Copy that formula for the remaining van For the Equipment, se cell references to enter the 'units in life and the 'Actual units in the table on each year. Then, build formulas for 1001 Depreciable cost (calculated as Cost - Residual value). Depreciation per unit, Depreciation Expense, Accumulated Depreciation, and Book Value, . For the Building, use a cell reference to enter the 'Useful life' for each year. Then build formulas to compute Depreciable cost (calculated as Cost - Residual value), Depreciation Expense, Accumulated Depreciation and Book Value For the Furniture, use a cell reference to enter the Useful life on each line. Use a cell reference to enter the Book value Beg of year' for 2020. Then, build formulas for Depreciation Expense, Accumulated Depreciation, Book Value End of year for each year in the useful life, and Book Value Beg of year. Remember, to force depreciation so that Book value = Residual value at the end of the furniture's useful life. NOTE: The entire depreciation schedule must be completed with formulas that use cell references only. Example: In the depreciable cost column you need to enter the cell reference for the cost minus the cell reference for the residual value. Ex: The formula must be =$B$S-SCSS instead of 760,000-60,000. b) in columns Y-AJ, show the balance sheet presentation for the plant assets on December 31, 2024. See Exhibit 9-9, Treatment 1 in Chapter 9 of the textbook You must use cell references from the various depreciation schedules for each asset balance and the related accumulated depreciation. You must use formulas to compute book values SUBMISSION INSTRUCTIONS: Please submit by the due date stated on D2L your completed assignment in an Excel file named "YOUR NAME"_ExcelDepreciation