Question
question Facts: Your company has recently purchased a building on January 1, 2020, and needs to understand how depreciation expense related to the building is
question Facts: Your company has recently purchased a building on January 1, 2020, and needs to understand how depreciation expense related to the building is going to affect its income statement/earnings for 2020 and going forward. Because it has been determined that the useful life of the building is 30 years, your manager, the CFO of the company, has asked you to forecast depreciation expense for 30 years under 3 separate methods; straight-line, double-declining balance, and sumoftheyearsdigits. The building was purchased for $950,000 and is estimated to have a salvage value of $50,000. Required: In Excel, prepare 3 separate tables (one for each method) that show depreciation expense for each year for 30 years (20202049). Depreciation should be calculated using a formula. Additionally, prepare a fourth table that summarizes depreciation expense for each year under each method. Then, use this table to prepare a line graph that graphically displays the three depreciation methods and amounts in the same graph. The Xaxis should be the years, and the Yaxis the depreciation amount. You plan to use this graph in a PowerPoint presentation you are preparing for the CFO.
please answer as Excel format
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