HELP! ONLY NEED BALANCE SHEET!

You will complete depreciation schedules for the 3 assets for every year of the assets useful life. The depreciation schedule will show depreciation expense, accumulated depreciation and book value for each year. Then, you will prepare a partial balance sheet for the company at December 31, 2023.

Name Sheet 2: Depreciation

Russell Co. purchased the following assets on January 1, 2019:
		Residual			Depreciation
	Cost	value	Useful life		method
Building	450,000	50,000	25	years	Straight line
Equipment	115,000	15,000	400,000	units	Units of production
Furniture	90,000	6,000	6	years	Double declining balance
Actual units for the equipment:
2019	86,000
2020	77,000
2021	90,500
2022	68,200
2023	78,300

a) You must complete the depreciation schedules for each year of the useful lives. Please note that each plant asset has a different useful life and has been assigned a different depreciation method. The table columns have been set up, so you can easily build formulas to compute Depreciation Expense.

• Enter the years for each year in the useful life of the asset. The worksheet shows 2019 for the first year for each asset. For the second year, use a formula which adds 1 to the cell containing 2019. Copy that formula for the remaining years.
• For the Equipment, use cell references to enter the Units in useful life and the Actual units in the table on each year. Then, build formulas for Depreciable cost (calculated as Cost Residual value), Depreciation per unit, Depreciation Expense, Accumulated Depreciation, and Book Value.
• For the Building, use a cell reference to enter the Useful life for each year. Then build formulas to compute Depreciable cost (calculated as Cost Residual value), Depreciation Expense, Accumulated Depreciation and Book Value.
• For the Furniture, use a cell reference to enter the Useful life on each line. Use a cell reference to enter the Book value Beg of year for 2019. Then, build formulas for Depreciation Expense, Accumulated Depreciation, Book Value End of year for each year in the useful life, and Book Value Beg of year for 2020 - 2024. Remember, to force depreciation so that Book value = Residual value at the end of the furnitures useful life.

NOTE: The entire depreciation schedule, except for 2019 in the year column, must be completed with formulas that use cell references only. Example: In the depreciable cost column you need to enter the cell reference for the cost minus the cell reference for the residual value. Ex: The formula must be =B5-C5 instead of =450,000-50,000.

b) In columns Y AJ, show the balance sheet presentation for the plant assets on December 31, 2023. You must use cell references from the various depreciation schedules for each asset balance and the related accumulated depreciation. You must use formulas to compute book values.

Check figure: Check figure: Equipment Accumulated Depreciation in 2022: 80,425; Building Book Value in 2034: 194,000; Furniture Accumulated Depreciation in 2022: 72,222; Plant Assets, net on the partial balance sheet: 396,852