Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

answer in formula form please Clipboard Font Styles C44 : X =0 8 D E F $ 10,000 4 1200 A 4 Estimated Residual: 5

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
answer in formula form please
image text in transcribed
Clipboard Font Styles C44 : X =0 8 D E F $ 10,000 4 1200 A 4 Estimated Residual: 5 Estimated Life in years: 6 Estimated Life in hours: 7 Actual Hours: 8 Year 1 9 Year 2 10 Year 3 11 Year 4 12 360 270 350 220 13 Prepare the following Straight Line depreciation schedule by using the excel SIN 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. 14 A B D E F 14 15 16 17 18 19 Year 20 21 22 SULLIVAN RANCH CORPORATION Depreciation ScheduleStraight Line Method Eod of year armounts Dapreciation Accumulated Book Value Expense Depreciation -0 S 35,000 $ 115,000 =0 $ 70,000 $ 80,000 =0 $ 105,000 $ 45,000 $ 35,000S 140,000 $ 10,000 $ 140,000 1 2 3 4 Total 23 24 F A B D E 23 4 $ 35,000 $ 140,000 $ 10,000 24 Total $ 140,000 25 Prepare the following Units of Production depreciation schedule by entering formulas. 26 Use absolute cell references when appropriate. 27 SULLIVAN RANCH CORPORATION 28 Depreciation Schedule Units-of-Production Method 29 End of year amounts 30 Depreciation Accumulated Year Book Value Expense Depreciation 31 1 -0 $ 42,000S 108,000 32 2 0 $ 73,500 $ 76,500 33 3 0 $ 114,333$ 35,667 34 0 $ 140,000 $ 10,000 Total $ 140,000 36 4 35 B D F 33 34 35 36 3 4 Total 0 0 140,000 $ $ 114,333 $ 140,000 $ E 35,667 10,000 $ Prepare the following Double Declining Balance depreciation schedule by using the Excel DDB FUNCTION (fx) to 37 calculate Depreciation Expense for Years 1 1 in the Depreciation Expense column. Enter formulas or absolute cell references for the remaining cells. 38 39 40 SULLIVAN RANCH CORPORATION 41 Depreciation Schedule-Double-Declining Balance Method 42 End of year amounts 43 Year Depreciation Accumulated Book Value Expense Depreciation 44 1 0 75,000 $ 75,000 45 2 0 $ 112,500 $ 37,500 46 3 0 $ 131,250 S 18,750 47 4 0 S 140,000 $ 10,000 48 Total S 140,000 49 50 1 2 3 4 5 6 7 8 9 10 Cost 150000 Estimated Residual Value 10000 Estimated life (in years) 4 Estimated life in hours) 1200 Actual Hours: Year 1 360 Year 2 270 Year 3 350 Year 4 220

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting For Decision Making And Control

Authors: Jerold Zimmerman

5th Edition

0072975865, 978-0072975864

More Books

Students also viewed these Accounting questions

Question

Identify the human resource management functions.

Answered: 1 week ago

Question

Describe who performs human resource management activities.

Answered: 1 week ago