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Tools Data Window Help Excel File Edit . AutoSave Home Insert Draw View Insert Format sus Page Layout Formulas ACC 213 - Chapter 8 Instructions & Template Data Review View Verdana 14 WA A General Conditional Formatting Formats Table Cell Styles BIU A $ % ) 3-2 N5 x fx ACC 213-Lab #7 for Chapter 8 - Depreciation Methods Name Lab #7 is divided into two parts: Part 1 is a series of depreciation calculations. Use formulas/cell references to make your work as efficient as possible Part 2 requires adjusting entries and a short written explanation. Instructions Use the following data to complete the depreciation calculations Equipment Purchased to 1/2/2019 Cost of Equipment Expected Life (for SL and DOB) Expected Life (for Units of Production) Exp l or Residual Valus) Part 1: Straight-Line depreciation Part A - use Excel formulas to calculate depreciation expense, accumulated depreciation, and book values at 12/31 for each year, Part B - using the Excel function (click on ts, choose SLN, in the arguments screen calculate the depreciation expense for years 1, 9 and 19. Units Of Production (Units of Output) depreciation Use Excel formulas to calculate depreciation expense, accumulated depreciation, and book values at 12/31 for each year. Apply your formulas in Year 10 without considering whether you've depreciated too much or too little of the asset Note: there is no Excel fx for Units of Production depreciation. Double Declining Balance depreciation Part A - use Excel formulas to calculate depreciation expense, accumulated depreciation, and book values at 12/31 for each year. Apply your formulas in Year 10 without considering whether you've depreciated too much or too little of the asset Part B - using the Excel function (click on t, choose DDB, fill in the arguments screen), calculate the depreciation expense for years 1, 9 and 10 Part 2: Part A - complete adjusting entries for each type of depreciation method as of 12/31/19 Part B.answer the question in the commentary section Part 1 - Calculations Straight-Line Depreciation Part A Construct formulas to calculate Depreciation Expense for each year, and Depreciation Template + MacBook I c ou # 8 W Home Insert Draw Page Layout Formulas Data Review View Verdana 14 A == 2 General ID & BI UV Dra. Av 3D $ % ) N5 x V fx Part 2: Part A - complete adjusting entries for each type of depreciation method as of 12/31/19. Part B - answer the question in the commentary section. > Part 1 - Calculations Straight-Line Depreciation > Part A: Construct formulas to calculate Depreciation Expense for each year, and Accumulated Depreciation and Book Value at the end of each year. Depreciation Expense Accumulated Depreciation Book Value $62,000 1/2/19 Yearl Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 0 50 2 5 Part B: Using Excel function (fx SLN), determine the depreciation expense for: Year 1 Year 9 Year 10 Units of Output (Units of Production) Depreciation Construct formulas to calculate Depreciation Expense for each year, and Accumulated Depreciation and Book Value at the end of each year. 65 Apply the formula without considering whether you've depreciated too much or too little of the asset Book Accumulated Depreciation $622000 Actual Number of Depreciation Units Produced Expense 1/2/19 15,200 Yeari Depreciation Template + 14 A Verdana BIU A A Paste Gene $ O N5 4 x y fx 62 Units of Output (Units of Production) Depreciation Construct formulas to calculate Depreciation Expense for each year, and 6 Accumulated Depreciation and Book Value at the end of each year. 65 Apply the formula without considering whether you've depreciated too much or too little of the asset 57 Actual Number of 58 Units Produced Accumulated Depreciation Book Value $62,000 R NPP RE 15,200 4,800 4,000 2,400 20,000 2,400 11,200 1,600 10,400 8,000 Depreciation Expense 1/2/19 Year1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 13 Double-Declining Balance Depreciation 4 Part A: Construct formulas to calculate Depreciation Expense for each year & Accumulated Depreciation and Book Value at the end of each year. 6 Apply the formula without considering whether you've depreciated too much or too little of the asseti Book Value $62,000 Depreciation Accumulated Expense Depreciation 1/2/19 Yeari Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Depreciation Template 6 100 Lugu Luguul PUTias Data Review View Verdana 14 = 29 AA = = E A Ger Paste BIU N5 x & fx 63 Double-Declining Balance Depreciation 4 Part A: Construct formulas to calculate Depreciation Expense for each year & Accumulated Depreciation and Book Value at the end of each year. 06 Apply the formula without considering whether you've depreciated too much or too little of the asseti Accumulated Depreciation Book Value $62,000 Depreciation Expense 1/2/19 Year1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 100 100 103 Part B: Using Excel function (fx DDB), determine the depreciation expense for: 104 Year 1 105 Year 9 106 Year 10 109 Part 2 -- Adjusting Entries & Commentary. Prepare the adjusting journal entry for depreciation on 12/31/19 three different Units of Production, and Double Declining Balance. Acct Titles Debit Adjusting Entry: Straight-Line Adjusting Entry: Units of Prod. Depreciation Template Tools Data Window Help Excel File Edit O AutoSave O Home Insert Draw View Insert Format Svo = Page Layout Formulas ACC 213 - Chapter 8 Instructie View Data Review X 29 General Paste ? Verdana 14 AA' BIUC fx N5 x Year 1 Year 9 Year 10 Part 2 -- Adjusting Entries & Commentary. Prepare the adjusting journal entry for depreciation on 12/31/19 three different ways: Straight-Line, Units of Production, and Double Declining Balance. Acct Titles Debit Credit Adjusting Entry: Straight-Line Adjusting Entry: Units of Prod. Adjusting Entry: DDB Are the calculations YOU made for depreciation expense for Double-Declining Balance and Units of Production (in part A) correct? (Answer Yes or No and explain why your calculations are correct or incorrect.) Depreciation Template MacBook Tools Data Window Help Excel File Edit . AutoSave Home Insert Draw View Insert Format sus Page Layout Formulas ACC 213 - Chapter 8 Instructions & Template Data Review View Verdana 14 WA A General Conditional Formatting Formats Table Cell Styles BIU A $ % ) 3-2 N5 x fx ACC 213-Lab #7 for Chapter 8 - Depreciation Methods Name Lab #7 is divided into two parts: Part 1 is a series of depreciation calculations. Use formulas/cell references to make your work as efficient as possible Part 2 requires adjusting entries and a short written explanation. Instructions Use the following data to complete the depreciation calculations Equipment Purchased to 1/2/2019 Cost of Equipment Expected Life (for SL and DOB) Expected Life (for Units of Production) Exp l or Residual Valus) Part 1: Straight-Line depreciation Part A - use Excel formulas to calculate depreciation expense, accumulated depreciation, and book values at 12/31 for each year, Part B - using the Excel function (click on ts, choose SLN, in the arguments screen calculate the depreciation expense for years 1, 9 and 19. Units Of Production (Units of Output) depreciation Use Excel formulas to calculate depreciation expense, accumulated depreciation, and book values at 12/31 for each year. Apply your formulas in Year 10 without considering whether you've depreciated too much or too little of the asset Note: there is no Excel fx for Units of Production depreciation. Double Declining Balance depreciation Part A - use Excel formulas to calculate depreciation expense, accumulated depreciation, and book values at 12/31 for each year. Apply your formulas in Year 10 without considering whether you've depreciated too much or too little of the asset Part B - using the Excel function (click on t, choose DDB, fill in the arguments screen), calculate the depreciation expense for years 1, 9 and 10 Part 2: Part A - complete adjusting entries for each type of depreciation method as of 12/31/19 Part B.answer the question in the commentary section Part 1 - Calculations Straight-Line Depreciation Part A Construct formulas to calculate Depreciation Expense for each year, and Depreciation Template + MacBook I c ou # 8 W Home Insert Draw Page Layout Formulas Data Review View Verdana 14 A == 2 General ID & BI UV Dra. Av 3D $ % ) N5 x V fx Part 2: Part A - complete adjusting entries for each type of depreciation method as of 12/31/19. Part B - answer the question in the commentary section. > Part 1 - Calculations Straight-Line Depreciation > Part A: Construct formulas to calculate Depreciation Expense for each year, and Accumulated Depreciation and Book Value at the end of each year. Depreciation Expense Accumulated Depreciation Book Value $62,000 1/2/19 Yearl Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 0 50 2 5 Part B: Using Excel function (fx SLN), determine the depreciation expense for: Year 1 Year 9 Year 10 Units of Output (Units of Production) Depreciation Construct formulas to calculate Depreciation Expense for each year, and Accumulated Depreciation and Book Value at the end of each year. 65 Apply the formula without considering whether you've depreciated too much or too little of the asset Book Accumulated Depreciation $622000 Actual Number of Depreciation Units Produced Expense 1/2/19 15,200 Yeari Depreciation Template + 14 A Verdana BIU A A Paste Gene $ O N5 4 x y fx 62 Units of Output (Units of Production) Depreciation Construct formulas to calculate Depreciation Expense for each year, and 6 Accumulated Depreciation and Book Value at the end of each year. 65 Apply the formula without considering whether you've depreciated too much or too little of the asset 57 Actual Number of 58 Units Produced Accumulated Depreciation Book Value $62,000 R NPP RE 15,200 4,800 4,000 2,400 20,000 2,400 11,200 1,600 10,400 8,000 Depreciation Expense 1/2/19 Year1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 13 Double-Declining Balance Depreciation 4 Part A: Construct formulas to calculate Depreciation Expense for each year & Accumulated Depreciation and Book Value at the end of each year. 6 Apply the formula without considering whether you've depreciated too much or too little of the asseti Book Value $62,000 Depreciation Accumulated Expense Depreciation 1/2/19 Yeari Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Depreciation Template 6 100 Lugu Luguul PUTias Data Review View Verdana 14 = 29 AA = = E A Ger Paste BIU N5 x & fx 63 Double-Declining Balance Depreciation 4 Part A: Construct formulas to calculate Depreciation Expense for each year & Accumulated Depreciation and Book Value at the end of each year. 06 Apply the formula without considering whether you've depreciated too much or too little of the asseti Accumulated Depreciation Book Value $62,000 Depreciation Expense 1/2/19 Year1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 100 100 103 Part B: Using Excel function (fx DDB), determine the depreciation expense for: 104 Year 1 105 Year 9 106 Year 10 109 Part 2 -- Adjusting Entries & Commentary. Prepare the adjusting journal entry for depreciation on 12/31/19 three different Units of Production, and Double Declining Balance. Acct Titles Debit Adjusting Entry: Straight-Line Adjusting Entry: Units of Prod. Depreciation Template Tools Data Window Help Excel File Edit O AutoSave O Home Insert Draw View Insert Format Svo = Page Layout Formulas ACC 213 - Chapter 8 Instructie View Data Review X 29 General Paste ? Verdana 14 AA' BIUC fx N5 x Year 1 Year 9 Year 10 Part 2 -- Adjusting Entries & Commentary. Prepare the adjusting journal entry for depreciation on 12/31/19 three different ways: Straight-Line, Units of Production, and Double Declining Balance. Acct Titles Debit Credit Adjusting Entry: Straight-Line Adjusting Entry: Units of Prod. Adjusting Entry: DDB Are the calculations YOU made for depreciation expense for Double-Declining Balance and Units of Production (in part A) correct? (Answer Yes or No and explain why your calculations are correct or incorrect.) Depreciation Template MacBook