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Can you show me how to calculate this with the actual excel formula plugged in? Thank you Plant Assets, Natural Resources, & Intangibles Compute depreciation
Can you show me how to calculate this with the actual excel formula plugged in? Thank you
Plant Assets, Natural Resources, & Intangibles Compute depreciation using units-of-production method with residual value FlavorRite purchased a used van for use in its business on January 1, 2017. Consider the following information. years Van's purchase price Van's residual value Van's useful life Expected miles in 2017 Expected miles in 2018 Expected miles in 2019 Expected miles in 2020 Total expected miles $ 17,000 $ 1,400 4 16,000 19,000 17,000 48,000 100,000 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tal you will be marked wrong. Requirement Using the units-of-production method of depreciation (with miles as the production unit), calculate the depreciation expense, accumulated depreciation balance, and book value for each of the four years of the van's useful life. a. Enter all amounts as positive values. Do not use a minus sign or parentheses for any values to be subtracted. b. Use cell references from prior calculations, if applicable. Saving & Submitting Solution 1 Save file to desktop. a Create folder on desktop, and label COMPLETED EXCEL PROJECTS Using the units-of-production method of depreciation (with miles as the production unit), calculate the depreciation expense, accumulated depreciation balance, and book value for each of the four years of the van's useful life. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong. Use cell references from prior calculations, if applicable.) Depreciation expense Accumulated depreciation Year Book value Start 2017 2018 2019 2020Step by Step Solution
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