Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I got asset 1001 done. That's the last picture I posted in here but I am struggling with the other tabs. Please help! 1 Small

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

I got asset 1001 done. That's the last picture I posted in here but I am struggling with the other tabs. Please help!

1 Small Builders, Inc. Depreciation Schedule 2 3 Asset # 1002 4 Asset Chairs 5 Date acquired 1/1/2015 6 Cost $ 5,000.00 7 Depreciation method S/L 8 Salvage value $ 1,000.00 9 Estimated useful life 5 10 Depreciation Accumulated 11 Year Expense Depreciation 12 2015 13 2016 2017 15 2018 16 2019 17 18 19 20 21 22 na A B 1 Small Builders, Inc. Depreciation Schedule 2. B Asset # 1003 Asset Small Equipment 5 Date acquired 1/1/2015 5 Cost $ 5,000.00 - Depreciation method SYD Salvage value $ 500.00 - Estimated useful life 5 Depreciation Expense Accumulated Depreciation Year 2015 2016 2017 2018 2019 G H I K L M N 1 Small Builders, Inc. 2 Equipment Depreciation Summary 3 4 For Part A below, use formulas that reference the Asset worksheets to fill in the information below. 5 6 Example: 2015 2016 2017 2018 2019 Date Deprec. 2015 Acc. 2016 Acc. 2017 Acc. 2018 . . 2019 . . 7 Asset Acquired Cost Method Deprec. Deprec. Deprec. Deprec. Deprec. Deprec. Deprec. Deprec. Deprec. Deprec. 8 Tools 1/1/2014 $10,000 DDB $2,000 $2,000 $2,000 $4,000 $2,000 $6,000 $2,000 S8,000 $2,000 $10,000 9 10 11 Part A: 2015 2016 2017 2018 2019 Date Deprec. 2015 Acc. 2016 Acc. . 2017 Acc. 2018 Acc. 2019 Acc. . 12 Asset Acquired Cost Method Deprec. Deprec. Deprec. Deprec. Deprec. Deprec. Deprec. Deprec. Deprec. Deprec. 13 14 15 16 17 18 Total 19 20 21 22 Merge & Center $ % 9 Clipboard 8-98 Fill Insert Delete Format Font Alignment Conditional Format as Cell Formatting Table Styles Styles Clear IN B23 Number 8 > f Cells D E F G H I K I. M A B. 1 Small Builders, Inc. Depreciation Schedule 2 3 Asset 1001 4 Asset Display Cases 5 Date acquired 1/1/2015 5 Cost S 15,000.00 Depreciation method DDB 3 Salvage value $ Estimated useful life 5 Hint: IF=(condition, value if true, value if false) - Cell G12 IF=[condition, value if true, value if false(condition, value if true, value if false)] - Cells G13-G16 X should switch do not switch Switch Year 2015 2016 2017 2018 2019 Depreciation Expense $6,000.00 $3,600.00 $2,160.00 $1,296.00 $777.60 Accumulated Depreciation $6,000.00 $9,600.00 $11,760.00 $13,056.00 $13,833.60 Straight-Line Test $3,750.00 $2,250.00 $1,800.00 $1,620.00 $1,944.00 Depreciation Accumulated Expense Depreciation $6,000.00 $6,000.00 $3,600.00 $9,600.00 $2,160.00 $11,760.00 $1,620.00 $13,380.00 $1,620.00 $15,000.00 X **If a switch is appropriate then the straight-line depreciation expense will be used, otherwise the depreciation expense for double-declining balance will be used. +

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

CISA Certified Information Systems Auditor Bundle

Authors: Peter H. Gregory

1st Edition

1260459861, 978-1260459869

More Books

Students also viewed these Accounting questions

Question

Detailed note on the contributions of F.W.Taylor

Answered: 1 week ago