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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

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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 depreciation. Use the information included in the Excel Simulation and the Excel functions descnbed 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"-38" was entered the formula would output the result from cell B8, or 360 in this example Absolute Reference: Allows you to maintain the original cell reference when a formula is copied to another cell The cell reference is locked by putting a dollar sign (5) 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 -88-89 from cell Cu to cel C2 the formula in cell C2 will relatively update to be":89-810" since the copled formula moved down one cell the formula cell references also moved down one cell Conversely, by adding the absolute cell reference Flocks" to the equation, the formula will not change when copied to any other cell. For example, -5858+$B$9" written in cell C1is copled to cell C2, the formula in cell C2 will remain 5858-50$9" You can also use a mixed cell reference by only locking the column or row only (5BB or 858) 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-B$8-89 from cell Ci to cell C2, the formula in cell C2 w update to be 858-810" 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 Moth 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). * (astensk sign to multiply), and (forward slash to divideFrom the Excel Simulation below, it in a blank cell =B10 B11" was entered the formula 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 of tanges to utilize this function. From the Excel Simulation below, if in a blank cell T-SUMBS, 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(BB:B10)" 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 salvage.Ife 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 e 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 = DB(cost salvage lire period actor and outputs the depreciation for one period. The function must include the first four 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. There 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 is assumed to be 2 (the double-declining balance method) - 5 X Sign in Editing Saved 2). Finance Depreciation Schedules - Excel ? FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW X Calibri - 11 AA % E Paste BIU- A. Alignment Number Conditional Format as Cell Cells Formatting Table Styles opboard Font Styles AL Sullivan Ranch Corporation has purchased a new tractor. The following A 8 C D E 1 Sullivan Ranch Corporation has purchased a new tractor. The following information is given: 2 3- Cost: $ 150,000 4 Estimated Residual: $ 10,000 5 Estimated Life in years: 4 6 Estimated Life in hours: 1200 7 Actual Hours: 8 Year 1 360 9 Year 2 270 10 Year 3 350 12 Year 4 220 12 - F Prepare the following Straight line depreciation schedule by using the excel SIN FUNCTION (x) to calculate the 13 Depreciation Expense for Years 1-4 in the Depreciation Expense column. Enter formulas or absolute cell references for the remaining cells. 14 15 16 SULLIVAN RANCH CORPORATION 12 Depreciation Schedule Straight Line Method 18 End of year amounts Depreciation Accumulated Year Book Value Expense Depreciation 20 1 21 2 22 3 Sheet CH 19 4 E LI 100% READY Attempt(s) 1 Cells Editing > F 17 Year Alignment Number Conditional Format as Cell Clipboard Formatting Table Styles Font Styles A1 fo Sullivan Ranch Corporation has purchased a new tractor. The following B 16 D E SULLIVAN RANCH CORPORATION Depreciation Schedule-Straight Line Method 118 End of year amounts 119 Depreciation Accumulated Expense Book Value Depreciation RO 1 21 2 22 3 23 4 24 Total 25 Prepare the following Activity-Based depreciation schedule by entering formulas. 26 Use absolute cell references when appropriate. 27 SULLIVAN RANCH CORPORATION 28 Depreciation schedule units of production Method 29 End of year amounts Depreciation Accumulated BO Year Book Value Expense Depreciation 31 1 32 2 33 3 34 4 Total 36 35 Prepare the following Double-Declining Balance depreciation schedule by using the Excel DDB FUNCTION (fx) to 37 calculate Denreriation Expense for Years 1-4 in the Depreciation Evnense column Enter formulas ocahsolute cell Sheet1 7 Prepare the following Double-Declining-Balance depreciation schedule by using the Excel DDB FUNCTION (fx) to calculate Depreciation Expense for Years 1-4 in the Depreciation Expense column. Enter formulas or absolute cell references for the remaining cells. 8 9 10 1 2 3 14 SULLIVAN RANCH CORPORATION Depreciation Schedule-Double Declining-Balance Method End of year amounts Depreciation Year Accumulated Book Value Expense Depreciation 1 2 3 4 Total + Sheet1 + + 4 100% READY ttempt(s) an

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