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A B D E 1 Sullivan Ranch Corporation has purchased a new tractor. The following information is given: 2 $ 150,000 10,000 3 Cost: 4 Estimated Residual: $ 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 11 Year 4 220 12 Prepare the following Straight Line depreciation schedule by using the excel SLN FUNCTION (fx) 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 SULLIVAN RANCH CORPORATION Depreciation Schedule-Straight Line Method End of year amounts 16 17 18 Depreciation Expense =SLN($B$3 =SNL($B$3,$B$4,$B$5) Accumulated Depreciation 19 Year Book Value 20 1 21 2 22 23 4 24 Total 25 Prepare the following Units-of-Production depreciation schedule by entering formulas. 26 Use absolute cell references when appropriate. SULLIVAN RANCH CORPORATION Depreciation Schedule-Units-of-Production Method 27 28 29 End of year amounts Depreciation Expense Accumulated Depreciation 30 Year Book Value 31 1 32 2 33 3 34 4 35 Total 36 Prepare the following Double-Declining-Balance depreciation schedule by using the Excel DDB FUNCTION (fx) to 37 calculate Depreciation Expense for Years 1-4 in the Depreciation Expense column. Enter formulas or absolute cell references for the remaining cells. 38 39 40 SULLIVAN RANCH CORPORATION Depreciation Schedule-Double-Declining-Balance Method End of year amounts 41 42 Accumulated Depreciation Expense 43 Year Book Value Depreciation 44 1 45 2 46 3 47 4 48 Total 49

A B D E 1 Sullivan Ranch Corporation has purchased a new tractor. The following information is given: 2 $ 150,000 10,000 3 Cost: 4 Estimated Residual: $ 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 11 Year 4 220 12 Prepare the following Straight Line depreciation schedule by using the excel SLN FUNCTION (fx) 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 SULLIVAN RANCH CORPORATION Depreciation Schedule-Straight Line Method End of year amounts 16 17 18 Depreciation Expense =SLN($B$3 =SNL($B$3,$B$4,$B$5) Accumulated Depreciation 19 Year Book Value 20 1 21 2 22 23 4 24 Total 25 Prepare the following Units-of-Production depreciation schedule by entering formulas. 26 Use absolute cell references when appropriate. SULLIVAN RANCH CORPORATION Depreciation Schedule-Units-of-Production Method 27 28 29 End of year amounts Depreciation Expense Accumulated Depreciation 30 Year Book Value 31 1 32 2 33 3 34 4 35 Total 36 Prepare the following Double-Declining-Balance depreciation schedule by using the Excel DDB FUNCTION (fx) to 37 calculate Depreciation Expense for Years 1-4 in the Depreciation Expense column. Enter formulas or absolute cell references for the remaining cells. 38 39 40 SULLIVAN RANCH CORPORATION Depreciation Schedule-Double-Declining-Balance Method End of year amounts 41 42 Accumulated Depreciation Expense 43 Year Book Value Depreciation 44 1 45 2 46 3 47 4 48 Total 49

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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A B 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: $ 5 Estimated Life in years: 10,000 4 6 Estimated Life in hours: 1200 7 Actual Hours: 8 Year 1 360 9 Year 2 270 10 Year 3 350 11 Year 4 220 12 Prepare the following Straight Line depreciation schedule by using the excel SLN FUNCTION (fx) 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 SULLIVAN RANCH CORPORATION Depreciation Schedule-Straight Line Method 16 17 18 End of year amounts Depreciation Expense Accumulated Depreciation 19 Year Book Value =SLN($B$3 =SNL($B$3,$B$4,$B$5) 20 1 21 22 3 23 4 24 Total 25 Prepare the following Units-of-Production depreciation schedule by entering formulas. 26 Use absolute cell references when appropriate. SULLIVAN RANCH CORPORATION Depreciation Schedule-Units-of-Production Method End of year amounts 27 28 29 Depreciation Expense Accumulated Depreciation 30 Year Book Value 31 1 32 2 33 3 34 4 35 Total 36 Prepare the following Double-Declining-Balance depreciation schedule by using the Excel DDB FUNCTION (fx) to 37 calculate Depreciation Expense for Years 1-4 in the Depreciation Expense column. Enter formulas or absolute cell references for the remaining cells. 38 39 40 SULLIVAN RANCH CORPORATION 41 Depreciation Schedule-Double-Declining-Balance Method 42 End of year amounts Depreciation Expense Accumulated 43 Year Book Value Depreciation 44 1 45 2 46 3 47 4 48 Total 49
Transcribed Image Text:A B 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: $ 5 Estimated Life in years: 10,000 4 6 Estimated Life in hours: 1200 7 Actual Hours: 8 Year 1 360 9 Year 2 270 10 Year 3 350 11 Year 4 220 12 Prepare the following Straight Line depreciation schedule by using the excel SLN FUNCTION (fx) 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 SULLIVAN RANCH CORPORATION Depreciation Schedule-Straight Line Method 16 17 18 End of year amounts Depreciation Expense Accumulated Depreciation 19 Year Book Value =SLN($B$3 =SNL($B$3,$B$4,$B$5) 20 1 21 22 3 23 4 24 Total 25 Prepare the following Units-of-Production depreciation schedule by entering formulas. 26 Use absolute cell references when appropriate. SULLIVAN RANCH CORPORATION Depreciation Schedule-Units-of-Production Method End of year amounts 27 28 29 Depreciation Expense Accumulated Depreciation 30 Year Book Value 31 1 32 2 33 3 34 4 35 Total 36 Prepare the following Double-Declining-Balance depreciation schedule by using the Excel DDB FUNCTION (fx) to 37 calculate Depreciation Expense for Years 1-4 in the Depreciation Expense column. Enter formulas or absolute cell references for the remaining cells. 38 39 40 SULLIVAN RANCH CORPORATION 41 Depreciation Schedule-Double-Declining-Balance Method 42 End of year amounts Depreciation Expense Accumulated 43 Year Book Value Depreciation 44 1 45 2 46 3 47 4 48 Total 49
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