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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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. Prepare depreciation schedules using Straight-Line, Units-of-Production, and Double-Declining Balance Depreciation. Finance Depreciation Schedules - Excel Sign In FILE НOМE INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Calibri -11 Alignment Number Conditional Format as Cell Formatting Table Styles - Paste в I U A. Cells Editing Clipboard Font Styles A1 fx Sullivan Ranch Corporation has purchased a new tractor. The following A D F 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 READY 100% 30
Transcribed Image Text:1. Prepare depreciation schedules using Straight-Line, Units-of-Production, and Double-Declining Balance Depreciation. Finance Depreciation Schedules - Excel Sign In FILE НOМE INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Calibri -11 Alignment Number Conditional Format as Cell Formatting Table Styles - Paste в I U A. Cells Editing Clipboard Font Styles A1 fx Sullivan Ranch Corporation has purchased a new tractor. The following A D F 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 READY 100% 30
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