Accessibility tab summary: Financial information for Sullivan Ranch Corporation, is presented in cell A4 to B12. A statement for requirement 1 is presented in rows 14 to 18. The Depreciation Schedule-Straight-Line Method for student preparation is presented in cells A20 to D28. A statement for requirement 2 is presented in rows 30 to 32. The Depreciation Schedule-Activity Based Method for student preparation is presented in cells A34 to D42. A statement for requirement 3 is presented in rows 44 to 47. The Depreciation Schedule-Double-Declining-Balance Method for student preparation is presented in cells A49 to D57.
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
Required:
1. Prepare the following Straight-Line depreciation schedule by using the Excel SLN function to calculate Depreciation Expense and entering formulas for the remaining cells. Use absolute cell references when appropriate.
(Use cells A4 to B12 from the given information to complete this question.)
SULLIVAN RANCH CORPORATION
Depreciation Schedule-Straight-Line Method
End of year amounts
Year Depreciation Expense Accumulated Depreciation Book Value
1
2
3
4
Total
2. Prepare the following Activity Based depreciation schedule by entering formulas. Use absolute cell references when appropriate.
(Use cells A4 to B12 from the given information to complete this question.)
SULLIVAN RANCH CORPORATION
Depreciation Schedule-Activity Based Method
End of year amounts
Year Depreciation Expense Accumulated Depreciation Book Value
1
2
3
4
Total
3. Prepare the following Double-Declining-Balance depreciation schedule by using the Excel DDB function to calculate Depreciation Expense and entering formulas for the remaining cells. Use absolute cell references when appropriate.
(Use cells A4 to B12 from the given information to complete this question.)
SULLIVAN RANCH CORPORATION
Depreciation Schedule-Double-Declining-Balance Method
End of year amounts
Year Depreciation Expense Accumulated Depreciation Book Value
1
2
3
4
Total
