answers has to be in formulas on excel
On January 1, Year 1, a company purchased equipment. The details of the equipment purchase are below. Required: 1. Based on the information above, calculate Depreciation Expense, Accumulated Depreciation and the Book Value of the equipment. as well as the journal entry for depreciation in Year 3: (a) Using the Straight-line method (b) Using the Double-Declining-Balance method (c) Using the Activity-Based method 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect On January 1, Year 1, a company purchased equipment. The detalls of the equipment purchase are below. Required: 1. Based on the information above, calculate Depreciation Expense. Accumulated Depreciation and the Book Value of the equipment, as well as the journal entry for depreciation in Year 3: (a) Using the Straight-line method (b) Using the Double-Declining-Balance method (c) Using the Activity-Based method Requirement 1(a): Straight-Line Method (Use cells A2 to 815 from the given Information above to complete this question.) Requirement 1(a): Straight-Line Method (Use cells A2 to B15 from the given information above to complete this question.) Adjusting entry for depreciation in Year 3: Requirement 1(b): Double-Declining-Balance Method double-declining-balance rate is double the straight-line rate [ 2(1/ useful life)]. Be sure to include a reference to the 43 useful life, cell B6, in your formula for depreciation expense. Your formula for depreciation expense should ensure that book value does not go below estimated residual value.) Adjusting entry for depreciation in Year 3: Requirement 1(b): Double-Declining-Balance Method double-declining-balance rate is double the straight-line rate [=2 (1/useful life)]. Be sure to include a reference to the useful life, cell B6, in your formula for depreciation expense. Your formula for depreciation expense should ensure that book value does not go below estimated residual value.) Adjusting entry for depreciation in Year 3: Requirement 1(c): Activity-Based Method depreciation rate = depreciable cost / total estimated units. Be sure to include a reference to estimated units, cell B7, in your formula for depreciation expense. Your formula for depreciation expense should ensure that book value does not go Adjusting entry for depreciation in Year 3: Requirement 1(c): Activity-Based Method depreciation rate = depreciable cost / total estimated units. Be sure to include a reference to estimated units, cell B7, in your formula for depreciation expense. Your formula for depreciation expense should ensure that book value does not go below estimated residual value.) Adjusting entry for depreciation in Year 3
