santoni Miller-Nobles 6e-12e-Using.Excel Cho9-Ch10 Star Page Layout Formulas Dst
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santoni Miller-Nobles 6e-12e-Using.Excel Cho9-Ch10 Star Page Layout Formulas Dsta Revien View Help Tell me what you want to do PROTECTED VIEW Be careful -files from the Internet can contain vinuses. Unless you need to edit, its safer to stay in Protect Enable Editing E15 0 Plant Assets, Natural Resources, and Intangibles lising Excel to prepare depreciation schedules 1 he Fraser River Corporation has purchased a new plece of factory equipment on January 1, 2018, and wishes to compare t depreciation methods: straight-line, double-declining-balance, and units-of production. costs $400,000and has an estimated useful life of four years, or 8.00 machine hours. At the end of four years, the 5 equipment is estimated to have a residual value of $20,000 7 ALWAYS use cell eferences and formulas where appropriate to recelve full credit. Copy/pasting values will NOT earn full points. Use the blue shaded areas on the ENTER-ANSWERS tab for inputs. 1 Use Excel to prepare depreciation schedules for straight-line, double-dedining-balance, and unitsofproduction methods. 2 Prepare a second depreciation schedule for double-decdining-balance method, usin g the Excel function DDB. The oDB function cannot be used in the last year of the asset's useful life. 3 At December 31, 2018, 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 $6,000. For each of the depreciation methods, what is the minimum a for in order to have a gain of $6,000? For all req mount that Fraser River will sell the factory equipment quirements, enter all amounts as positive values. Do not use a minus signor parentheses for any values. 1 Excel Skills 1 Create formulas with absolute and relative cell references 2 Format the cells as accounting number format. Use the Excel function DDB to calculate double declining-balance depreciation. 21 23 Saving & Submitting Solution 1 Save file to desktop. a. Create folder on desktop, and label cOMPLETED EXCEL PROJECTS b. Save your solution in the folder youjust created: add solution-date to end of file name a. Navigate back to the activity window sereen where you downloaded the Initial spreadshee c. Click Upload button under step 3 d. Click Submit button under step 4 27 2 upload and submit your file to be graded. ose button under step 3; locate the file you just seved and click Open 4 Viewing Results 5 1 Click on Results tab in MyAccountinglab 36 2 Click on the Assignment you were working on 373 Click on Project link; this will bring up your Score Card a within Score Card windew, cick on live Comments Report(lower night) to download spreadsheet with teedback 38 Instructions ENTERANSWERSExplanation / Answer
DATA COST $ 400,000.00 RESIDUAL VALUE $ 20,000.00 USEFUL LIFE (YEARS) 4 USEFUL LIFE (HOURS) 8000 GAIN END OF YEAR ONE $ 6,000.00 STRAIGHT LINE METHOD YEAR DEPRICIABLE COST RATE DEPRECIATION EXPENSES ACCUMULATED DEPRECIATION BOOK VALUE 1 $ 400,000.00 23.75% $ 95,000.00 $ 95,000.00 $ 305,000.00 2 $ 305,000.00 23.75% $ 95,000.00 $ 190,000.00 $ 210,000.00 3 $ 210,000.00 23.75% $ 95,000.00 $ 285,000.00 $ 115,000.00 4 $ 115,000.00 23.75% $ 95,000.00 $ 380,000.00 $ 20,000.00 MINIMUM AMOUNT TO SELL THE FACTORY EQUIPMENT IN ORDER TO GAIN $6000 AT THE END OF YEAR 1? $ 311,000.00 DOUBLE DEPRECIATION METHOD YEAR DEPRICIABLE COST RATE DEPRECIATION EXPENSES ACCUMULATED DEPRECIATION BOOK VALUE YEAR DEPRICIABLE COST ACCUMULATED DEPRECIATION BOOK VALUE 1 $ 400,000.00 50.00% $ 200,000.00 $ 200,000.00 $ 200,000.00 1 $ 400,000.00 $200,000.00 $ 200,000.00 2 $ 200,000.00 50.00% $ 100,000.00 $ 300,000.00 $ 100,000.00 2 $ 200,000.00 $300,000.00 $ 100,000.00 3 $ 100,000.00 50.00% $ 50,000.00 $ 350,000.00 $ 50,000.00 3 $ 100,000.00 $350,000.00 $ 50,000.00 4 $ 50,000.00 $ 30,000.00 $ 380,000.00 $ 20,000.00 4 $ 50,000.00 $ 380,000.00 $ 20,000.00 MINIMUM AMOUNT TO SELL THE FACTORY EQUIPMENT IN ORDER TO GAIN $6000 AT THE END OF YEAR 1? $ 206,000.00 UNITS OF PRODUCTION YEAR DEPRECIATION PER UNIT MACHINE HOURS DEPRECIATION EXPENSE ACCUMULATED DEPRECIATION BOOK VALUE 1 $ 47.50 2400 $ 114,000.00 $ 114,000.00 $ 286,000.00 2 $ 47.50 1800 $ 85,500.00 $ 199,500.00 $ 200,500.00 3 $ 47.50 2480 $ 117,800.00 $ 317,300.00 $ 82,700.00 4 $ 47.50 1320 $ 62,700.00 $ 380,000.00 $ 20,000.00 MINIMUM AMOUNT TO SELL THE FACTORY EQUIPMENT IN ORDER TO GAIN $6000 AT THE END OF YEAR 1? $ 292,000.00
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