D G H K L M N o Walsh College ACC 506 Practical Accounting Project Part 2 - Depreciation 3 Summer 2021 5 61) Directions 7 Using the formation in tem 2 below, answer the questions in hem 3 B 92) Problem Data 10 Recent histoncal actual depreciation figures and other infomation 11 Actual depreciation expense for the the entire year 2017 was $750,000 12 Actual depreciation expense for the the entire year 2018 wes $675,000 13 Actual depreciation expense for the the entire year 2010 was $630,000 14 The company acquired $140,000 in fund assets in 2020, al are to be depreciated straight in over seven years 15 Assume all tome acquired in 2020 have no salvage value, were alsoquired on 1/1/2020, and a year of deprecation is taken in Year 1 and Year 5 10 17:3) Questions 18 a) What ouma entry do you propose Wayne should mcord each month January through November, 2020? 19 Explain how you arrived at the amount you did, and show calculations to support your figure 20 b) Assume Wayne's final actual 2020 depreciation expense, determined in January 2021 is $790,000 21 What final adjusting pumal entry should be recorded in December 2020 to "tu-up depreciation expense recorded for the year 22 23 5) Requirements 24 8) Prepare, in good form a schedule to support your answer for Questions 3a and 36. You must prepare your report in Excel 25 b) Use only Artol 10 font to prepare your response to this assignment Use only black font, and do not shade any cols. 26 c) Do not use this Excel file to prepare your assignment 27 Instead, copy the data set above to a worksheet in a new Excel file and complete your assignment there 28 20 + 20