Please help me with my assignment. its due tomorrow. thanks
Excel Assignment 6 - Depreciation You will complete depreciation schedules for the 3 assets for every year of the asset's 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, 2022. Note: even though the balance sheet is for 2022, you must complete the depreciation schedules for the entire life of the asset. Name Sheet 1: Depreciation Russell Co. purchased the following assets on January 1, 2019: Building Equipment Furniture Cost 650,000 280,000 120,000 Residual value 50,000 40,000 8,000 Depreciation Useful life method 30 years Straight line 600,000 units Units of production years Double declining balance Actual units for the equipment: 2019 152,000 2020 220,000 2021 125,000 2022 103,000 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. a Paragraph Styles For the building, use a celererence to enter the userui lire Tor 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. Remember, to force depreciation so that Book value Residual value at the end of the furniture's 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, 2022. 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: Equipment Accumulated Depreciation in 2021: 198,800; Building Book Value in 2034: 330,000; Furniture Accumulated Depreciation in 2022: 82,031; Plant Assets, net on the partial balance sheet: 647,969