please help with excel formulas!
Sullivan Ranch Corporation has purchased a new tractor and has provided you with the information related to the purchase. The Controller has asked you to calculate the depreciation for the new piece of equipment using three different methods: Straight-Line depreciation, Units-of-Production depreciation, and Double-Declining-Balance depreclation. Here are some tips for using Excel: - Cell Reference: Allows you to refer to data froIn another cell in the worksheet. If you entered "=B5" into a blank cell, the formula would output the value from cell B5. - Basic Math Functions: Allow you to use the basic math symbols to perform mathematical functions. You can use the following keys: + (plus sign to add), - (minus sign to subtract). " (asterisk sign to multiply), and / (forward slash to divide), For example, if you entered "=B4+B5" in a blank cell, the formula would add the values from those cells and output the result. - SUM Function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges. If you entered "-SUM(C4,C5,C6)" into a blank cell, the formula would output the result of adding those three separate cells. Similarly, if you entered "=SUM(C4:C6)", the formula would output the same result of adding those cells. - SLN Function: Allows you to calculate the depreciation of an asset using the straight-line depreciation method. The syntax of the SLN function is "=SLN(cost,salvage,life)" and it outputs the depreciation for one period. The cost argument is the initial cost of the asset. The salvage argument is the salvage value at the end of the life of the asset. The life argument is the number of periods over which the asset is being depreciated, also called the useful life. - DDB Function: Allows you to calculate the depreciation of an asset using the double-declining balance method. The syntax of the DDB function is "=DDB(cost,salvage,life,period,(factor)" and it outputs the depreciation for one period. The function must include the first four arguments, and it supports a fifth optional argument. The cost argument is the initial cost of the asset. The salvage argument is the salvage value at the end of the life of the asset. The life argument is the number of periods over which the asset is being depreciated, also called the useful life. The period argument is the period for which you want to calculate the depreciation and must use the same units as the life argument. The [factor] argument is the rate at which the balance declines; when omitted, the rate is assumed to be 2 (the double-declining balance method). 1. Use the Open Excel in New Tab button to launch this question. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect. 2 Sullivan Ranch Corporation has purchased a new tractor. The following information is given: Required: 1. Prepare the following Straight-Line depreciation schedule by using the Excel SLN function to calculate Depreciation Expense and entering formulas for the remaining cells. Use absolute cell references when appropriate. 2. Prepare the following Activity Based depreciation schedule by entering formulas. Use absolute cell references when approp (Use cells A4 to B12 from the given information to complete this question.) 3. Prepare the following Double-Declining-Balance depreciation schedule by using the Excel DDE function to calculate Depreciation Expense and entering formulas for the remaining cells. Use absolute cell references when appropriate. (Use cells A4 to B12 from the given information to complete this question.)
