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I need the excel formulas I have provided the row and column numbers in the problem What are the Excel formulas: ABC, Incorporated constructed equipment
I need the excel formulas I have provided the row and column numbers in the problem
What are the Excel formulas:
| ABC, Incorporated constructed equipment at a total cost of $1,000,000. Construction was completed at the end of 2022 and the equipment was placed in service at the beginning of 2023. The equipment was being depreciated over a 10-year life using the sum-of-the-years-digits method. The residual value is expected to be $50,000. At the beginning of 2026, ABC decided to change to the straight-line method. | ||||
| Column D | ||||
| Equipment cost | row 10 | $1,000,000 | ||
| Equipment useful life | row 11 | 10 | ||
| Residual value | row 12 | $50,000 | ||
| Depreciation Expense | ||||
| Year | SYD method | Straight-line method | ||
| 1 | ? excel formula | $95,000 | ||
| 2 | ? excel formula | $95,000 | ||
| 3 | ? excel formula | $95,000 | ||
| Totals | $466,364 | $285,000 | ||
| Ignoring income taxes, prepare the journal entry relating to the machine for 2026. | ||||
| Date | General Journal | Debit | Credit | |
| December 31, 2026 | Depreciation expense | excel formula | ||
| Accumulated depreciation | ? |
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