Ace Delivery purchased a new food delivery truck on 4 30 2019 for $125,000 Other costs included sales tax $8,000 and installation of a refrigeration unit $12,000 Ace estimates the following useful life 5 years and salvage value $13,000 Ace reports a 12 31 fiscal year end Requirements Prepare a depreciation schedule using a straight line and b double declining balance methods Round all dollar amounts to whole dollars Excel functions must be used and maximized to calculate and present a depreciation schedule with the following columns completed for all years (year, depreciation expense, accumulated depreciation, book value at year end) With the exception of column titles or a table providing the facts above, all cells in the schedule must contain an Excel formula or function vs direct entry of an amount Each all of the following Excel features must be incorporated into each schedule Cell Reference Allows you to refer to data from another cell in the worksheet Absolute Reference Allows you to maintain the original cell reference when a formula is copied to another cell Basic Math functions Allows you to use the basic math symbols to perform mathematical functions SUM function Allows you to refer to multiple cells and adds all the values IF function Allows you to perform a logical test and return one value for a TRUE result, and another for a FALSE result

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Posted on Feb 02, 2024

Ace Delivery purchased a new food delivery truck on 4/30/2019 for $125,000. Other costs included: sales tax $8,000 and installation of a refrigeration unit $12,000.

Ace Delivery purchased a new food delivery truck on 4/30/2019 for $125,000. Other costs included: sales tax $8,000 and installation of a refrigeration unit $12,000. Ace estimates the following: useful life 5 years and salvage value $13,000. Ace reports a 12/31 fiscal year end.

Requirements:

Prepare a depreciation schedule using a. straight-line and b. double declining balance methods. Round all dollar amounts to whole dollars.

Excel functions must be used and maximized to calculate and present a depreciation schedule with the following columns completed for all years (year, depreciation expense, accumulated depreciation, book value at year end).
With the exception of column titles or a table providing the facts above, all cells in the schedule must contain an Excel formula or function vs. direct entry of an amount.
Each/all of the following Excel features must be incorporated into each schedule: Cell Reference: Allows you to refer to data from another cell in the worksheet.
Absolute Reference: Allows you to maintain the original cell reference when a formula is copied to another cell.
Basic Math functions: Allows you to use the basic math symbols to perform mathematical functions.
SUM function: Allows you to refer to multiple cells and adds all the values. @IF function: Allows you to perform a logical test and return one value for a TRUE result, and another for a FALSE result.