Sullivan Ranch Corporation has purchased a new tractor. The following information is given: Cost: $ 150,000 Estimated Residual: $ 10,000 Estimated Life in years: 4 Estimated Life in hours: 1200 Actual Hours: Year 1 360 Year 2 270 Year 3 350 Year 4 220 2 Prepare the following Straight Line depreciation schedule by using the excel SLN FUNCTION (fx) to calculate the Depreciation Expense for Years 1-4 in the Depreciation Expense column. Enter formulas or absolute cell references for the remaining cells. SULLIVAN RANCH CORPORATION Depreciation Schedule-Straight Line Method End of year amounts Depreciation Expense Accumulated Year Book Value Depreciation 1 3 4 Total Prepare the following Activity-Based depreciation schedule by entering formulas. 5 Use absolute cell references when appropriate. SULLIVAN RANCH CORPORATION Depreciation Schedule-Units-of-Production Method End of year amounts Accumulated Depreciation Expense Year Book Value Depreciation 1 3 4 Total 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. SULLIVAN RANCH CORPORATION Depreciation Schedule-Double-Declining-Balance Method End of year amounts Depreciation Expense Accumulated Year Book Value Depreciation 1 3 4 Total
Sullivan Ranch Corporation has purchased a new tractor. The following information is given: Cost: $ 150,000 Estimated Residual: $ 10,000 Estimated Life in years: 4 Estimated Life in hours: 1200 Actual Hours: Year 1 360 Year 2 270 Year 3 350 Year 4 220 2 Prepare the following Straight Line depreciation schedule by using the excel SLN FUNCTION (fx) to calculate the Depreciation Expense for Years 1-4 in the Depreciation Expense column. Enter formulas or absolute cell references for the remaining cells. SULLIVAN RANCH CORPORATION Depreciation Schedule-Straight Line Method End of year amounts Depreciation Expense Accumulated Year Book Value Depreciation 1 3 4 Total Prepare the following Activity-Based depreciation schedule by entering formulas. 5 Use absolute cell references when appropriate. SULLIVAN RANCH CORPORATION Depreciation Schedule-Units-of-Production Method End of year amounts Accumulated Depreciation Expense Year Book Value Depreciation 1 3 4 Total 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. SULLIVAN RANCH CORPORATION Depreciation Schedule-Double-Declining-Balance Method End of year amounts Depreciation Expense Accumulated Year Book Value Depreciation 1 3 4 Total
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:1. Prepare depreciation schedules using Straight-Line, Units-of-Production, and Double-Declining Balance Depreciation.
Finance Depreciation Schedules - Excel
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Sullivan Ranch Corporation has purchased a new tractor. The following
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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:
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
16
SULLIVAN RANCH CORPORATION
17
Depreciation Schedule-Straight Line Method
18
End of
year amounts
Depreciation
Expense
Accumulated
19
Year
Book Value
Depreciation
20
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
Depreciation Schedule-Units-of-Production Method
End of year amounts
28
29
Depreciation
Expense
Accumulated
Year
Book Value
Depreciation
31
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
45
2
46
3
47
4
48
Total
49
50
51
52
Sheet1
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100%
30
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