Question
In this exercise, you will complete a depreciation schedule for AHJ Construction. In an Excel table, calculate depreciation expense, and analyze the table data. A
In this exercise, you will complete a depreciation schedule for AHJ Construction. In an Excel table, calculate depreciation expense, and analyze the table data. A primary goal is to ensure that the depreciation schedule can be easily understood by the end user.
Use this information (provided as of 11/30/2015) to create the depreciation schedule as of 11/30/2016 for AHJ Construction using appropriate headers and a table in which all pertinent information is displayed.
Fixed Asset | Date of Acquisition | Cost | Salvage Value | Useful Life (years) | Accumulated Depreciation |
Construction Equipment | 12/1/2011 | $4,900 | $900 | 10 | $1,600 |
Furniture | 12/1/2013 | $3,200 | $200 | 6 | $1,000 |
Automobile | 12/1/2014 | $14,000 | $2,000 | 8 | $1,500 |
AHJ Construction uses the straight-line method of depreciation. In addition to the fixed assets shown, AHJ Construction acquired a new computer on 12/1/2015. It cost $2,800, has an estimated five-year useful life, and has an estimated salvage value of $300.
Create the table so there is a column for each item (note that some figures may appear different in your 11/30/2016 table than they do in the 11/30/2015 chart). Include columns for the annual depreciation expense and year-end book value. Use a function to calculate depreciation expense and structured references when calculating the year-end book value. Sort the table by depreciation expense in descending order. Filter the table to display only assets for which the estimated salvage value is greater than $250. Last, use Quick Analysis to apply data bars to the figures in the Accumulated Depreciation column.
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