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 different methods: Straight$-$Line depreciation, Units$-$of$-$Production depreciation, and Double$-$Declining$-$Balance depreclation. Use the information included in the Excel Simulation and the Excel functions described below to complete the task.

Cell Reference; Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below, if in a blank cell, $"=$B$8"$ was entered, the formula would output the result from cell B$8,$ or $360$ in this example.

Absolute Reference; Allows you to maintain the original cell reference when a formula is copled to another cell: The cell reference is "locked" by putting a dollar sign $($$$)$ before the column and row references. By default a cell reference is relative, so when you copy a formula to another cell the values update based on a relative reference. For example, if you copy the formula $"=$B$8+$B$9"$ from cell $C1$ to cell $C2,$ the formula in cell $C2$ will relatively update to be $"=89+B10"$ since the copied formula moved down one cell, the formula cell references also moved down one cell. Conversely, by adding the absolute cell reference "locks" copied to cell $C2,$ the formula in cell $C2$ will remain $"=$$$B$$$8+$$$B$$$9".$ You can also use a mixed cell reference by only "locking" the column or row only $($ $$B8$ or $B$$$8)$ which locks that specific column or row and the other reference becomes a relative reference and "moves" with the formula as its copied to another cell. For example, if you copy the formula $"=8$$$8+89"$ from cell $C1$ to cell $C2,$ the formula in cell $C2$ will update to be $"=B$$$8+B10"$ since the copied formula moved down one cell, the formula cell relative references also moved down one cell, but the absolute "locked" reference remained the same.

Basic Math functions: Allows 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$).$ From the Excel Simulation below, if in a blank cell $"=$B$10+$B$11"$ was entered, the formyla would add the values from those cells and output the result, or $570$ in this example. If using the other math symbols the result would output an appropriate answer for its function.

SUM function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges to utilize this function. From the Excel Simulation below, if in a blank cell $"=$SUM$((B8,B9,B10)"$ was entered, the formula would output the result of adding those three separate cells, or $980$ in this example. Similarly, if in a blank cell $"=$SUM$($B$8$:B$10)"$ was entered, the formula would output the same result of adding those cells, except they are expressed as a range in the formula, and the result would be $980$ in this example.

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$,$sa$/$vage$,$life$)"$ and 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 inction is $"=$DDB$($cost$,$salvage, life,period, $($factor$)"$ and outputs the depreciation for one period. The function must include the first fopr arguments and has 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 araument. The ffactorl araument is the rate at which the balance declines.

$17$

Depreciation Schedule$-$Straight Line Method

A

B

B

D

E

F

Sullivan Ranch Corporation has purchased a new tractor. The following information is given:

$\backslash$table$[[$Cost:$,$$$,150,000$