ezto.mheducation.com/hm.tpx?-=0.8506597444242057-1522117528445 1. Prepare deprec

Question

ezto.mheducation.com/hm.tpx?-=0.8506597444242057-1522117528445 1. Prepare depreciation schedules using Straight-Line, Units-of-Production, and Double-Declining Balance Depreciation. Finance Depreciation Schedules-Exce Sign In HOME INSERT PAGE LAYOUTFORMULAS DATA REVIEW VIEW y- B-??. Aignment Number Conditional Format as Cel Formatting" Table Styles Al Sullivan Ranch Corporation has purchased a new tractor. The following 1 Sullivan Ranch Corporation has purchased a new tractor. The following information is given: 3 Cost: S 150,000 100000 4 Estimated Residual: Estimated Life in years: 6 Estimated Life in hours: 1200 7 Actual Hours: 8 Year1 9 Year2 10 Year 3 11 Year 4 12 1s Prepare the following Straight Line depreciatiom schedule by using the excel St.N FUNCTION () to calculate the Is Depreciation Expense for Years 1-4 in the Depreciation Expense column. Enter formulas or absolute cell references for the remaining cells. SULLIVAN RANCH CORPORATION ion Schedule- End of t Line Method year amounts Depreciaticn Accumulated Book Value 0

Explanation / Answer

Solution:-

(1) Straight Line dep:

(2) Unit of production method

(cost-residual value)*actual hrs worked/estimated total life hrs

(3)Double Declining method:-

Dep rate = 35000/140000 = 25% = 25*2 = 50%

Year Depreciation Accumulated dep Book Value 1 (150000-10000)/4 = 35000 35000 115000 2 35000 70000 80000 3 35000 105000 45000 4 35000 140000 10000

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