EA6-A1 Complete a Depreciation Schedule for JCW Supplies In this exercise, you w
ID: 2540297 • Letter: E
Question
EA6-A1 Complete a Depreciation Schedule for JCW Supplies In this exercise, you will create a depreciation schedule for JCW Supplies as of 10/31/2017 using an Excel table. You will then sort, filter, and analyze the data in the table. These fixed assets, with associated data as of 10/31/2016, were acquired prior to the current year. Fixed Asset Date of Acquisition 11/1/2014 11/1/2012 Useful Life (years) Accumulated Depreciation $1,000 S2,800 Cost Salvage Value Furniture Office Equipment Machinery $3,400 $400 $7,000 $700 11/1/2015 S6,500 $100 $1,600 JCW Supplies also acquired office furniture on 11/1/2016. The office furniture had a cost of $1,200, an estimated salvage value of $100, and an estimated useful life of eleven years. 1. Open a Blank Workbook and save the file in your Chapter 06 folder as: EA6-A1-Depreciation-[YourName] Enter appropriate bank reconciliation headers in the range A1:A2; apply bold formatting. Enter the fixed-asset data in the range A4:F7; for the accumulated depreciation, enter 2. 3. the title but not the dollar amounts 4. Format the range A4:F7 as a table using Light Orange, Table Style Light 17 and add the table name Depreciation Schedule 5. Add a total row that shows sums in columns C:D and an average in column E 6. Turn on the First Column table style option.Explanation / Answer
Fixed assets schedule as on 10/31/2017
Date acquisition
Cost
Opening accumulated depreciation
Depreciation during the year
Closing accumulated depreciation
Closing balance
Furniture
01-11-14
3400
1000
500
1500
1900
Office equipment
01-11-15
7000
2800
700
3500
3500
Machinery
01-11-15
6500
1600
1600
3200
3300
Workings:
Depreciation per year:
Furniture
Cost
3400
Less: Salvage value
400
3000
No of years
6
Depreciation per year
500
(3000/6)
Office equipment
Cost
7000
Less: Salvage value
700
6300
No of years
9
Depreciation per year
700
Machinery
Cost
6500
Less: Salvage value
100
6400
No of years
4
Depreciation per year
1600
Fixed assets schedule as on 10/31/2017
Date acquisition
Cost
Opening accumulated depreciation
Depreciation during the year
Closing accumulated depreciation
Closing balance
Furniture
01-11-14
3400
1000
500
1500
1900
Office equipment
01-11-15
7000
2800
700
3500
3500
Machinery
01-11-15
6500
1600
1600
3200
3300
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