Facts:

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.