Use Excel to prepare depreciation, schedules for straight line, double declining balance, and units of production methods.

Using Excel to prepare depreciation schedules The Fraser River Corporation has purchased a new piece of factory equipment on January 1, 2024, and wishes to compare three depreciation methods: straight-line, double-declining-balance, and units-of-production. The equipment costs $480,000 and has an estimated useful life of four years, or 10,000 machine hours. At the end of four years, the equipment is estimated to have a residual value of $40,000. Use the blue shaded areas on the ENTER-ANSWERS tab for inputs. ALWAYS use cell references and formulas where appropriate to receive full credit. Copy/pasting values will NOT earn full points. Requirements 1 Use Excel to prepare depreciation schedules for straight-line, double-declining-balance, and units-of-production methods. 2 Prepare a second depreciation schedule for double-declining-balance method, using the Excel function DDB. The DDB function cannot be used in the last year of the asset's useful life. 3 At December 31, 2024. Fraser River is trying to determine if it should sell the factory equipment. Fraser River will only sell the factory equipment if the company earns a gain of at least $12,000. For each of the depreciation methods, what is the minimum amount that Fraser River will sell the factory equipment for in order to have a gain of $12,000 ? 4 Journalize the transactions in the Transactions worksheet. -For all requirements, enter all amounts as positive values. Do not use a minus sign or parentheses for any values. Requirement 1 Use Excel to prepare denreciation schedules for straight-line, double-declining-balance, and units-of-production methods. (Always use cell references and formulas where appeopriate to receive full credit. Enter all amounts as positive values. Do not use a minus sign of parentheses for any values) Fequitement 2 Prepare a second depreciation schedule for double-declinine halance method, using the Excel function 008 The D0e function cannat be used in the last vear of the ascet's useful tife (Alwisys use cell references and formulas where appropriate to receive full credit. Enter all amounts as positive values Do not use a minus sign of parentheses for any values) Requirement 3 . a gain of at least $12,000. For each of the depreciation methods, what is the minimum amount that fraser River will sell the factory equipment for in order to have a ginin of $12,000 ? (Awoys use cell references and formulas where appropriate to receive full credit. Enter all amounts as positive values Do not use a mi ntheses for any values!) "For calculations in each of the four tables below reler only to the values calculated in the same table or provided in the DATA table. The menimum amount to sell the tactory eoupmert in order to ham a gan of 12000ol the end of Yes 1 ? Double Declining Balance using DDB function The minimum anoum to tell the foctory equpment in order to have a gin of $12,000 of the end of Yex T? The minimum amount to sell the factory equipment in order to have a gain of $12,000 at the end of Year 1? HINTS Cell|Hint: C24:D27 I Use absolute cell references to the corresponding cells in the DATA table to calculate depreciable cost and depreciation rate values for periods 1-4. (Absolute cell reference uses $, example $AS1 ) ALL Book Value columns | Use absolute cell reference to the corresponding cell in the DATA table and the values obtained in the Accumulated Depreciation column to calculate the book values for periods 14. 334:37 | Use the function =DDB() to calculate the depreciation expense. Do not enter any value for the FACTOR argument of the DDB function. Note that the DDB function cannot be used in the last year of the asset's useful life (cell J37). D37 I Leave this cell blank. G39 | Do not use cell references to the values in the Double Declining Balance using DDB function table, CA4:C47 | Use absolute cell references to the corresponding cells in the DATA table to calculate depreciation per unit values for periods 1 -4