Penguin Network Warehouse, LLC (PNW, LLC) acquired the following assets last year: Industrial Refrigeration Equipment on...

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Penguin Network Warehouse, LLC ("PNW, LLC") acquired the following assets last year: Industrial Refrigeration Equipment on January 23 Network server computer equipment on May 4 Office furniture on June 12 Required: 1. Using the below MACRS depreciation table, leverage VLOOKUP formulas to calculate regular depreciation for each asset. 2. Sum the total depreciation for each year. (Hint: Use an IF formula with "Yes" and "No" to respond to the Fully Depreciated question.) Depreciation Rate for Recovery Period 3 5 33.33% 20.00% 44.45% 32.00% 19.20% 11.52% 11.52% 5.76% S 7 B 9 10 1 2 Year 1 23 24 25 Asset: 23 3 4 567 00 8 14.81% 7.41% Industrial Refrigeration Equipment Graded Worksheet + 7 14.29% 24.49% 17.49% 12.49% 8.93% 8.92% 8.93% 4.46% $ A1 4 25 26 27 28 29 30 31 32 33 34 35 35 37 38 39 0 1234557 18 24 25 Asset: 26 Class Life: 27 Basis: 36 40 Year 44 Asset: 45 Class Life: 46 Basis: 48 V BA Ev X fx Accessibility tab summary: Students please use the information below B C D E 1 2 P 3 4 5 T 6 7 Industrial Refrigeration Equipment Calibri 8 $1,434,214 Depreciaiton Rate 14.29%'$ 24.49% $ 17.49% 12.49% 8.93% 8.92% 8.93% 4.46% Total Fully Depreciated? 11 V $1,076,900 Depreciaiton Graded Worksheet + Calculation Mode: Automatic Workbook Statistics Amount Network Server Computer Equipment 192,034.57 329,106.14 *** O 2 3 4 5 -6 57 Asset: Class Life: Basis: 58 59 Year 50 61 62 63 Asset: 64 Class Life: 65 Basis: 66 67 1 2 3 s Network Server Computer Equipment 6 7 00 $1,076,900 Depreciaiton Rate Total Fully Depreciated? Office Furniture $1,002,237 Depreciaiton A Graded Worksheet Amount + = 6 B Asset: Class Life: Basis: 9 D 1 Year 2 3 Year 1 5 2 3 A Office Furniture 7 8 $1,002,237 Depreciaiton Rate Total Depreciation Total Fully Depreciated? 2 3 4 35 36 27 < > Graded Worksheet + Amount Amount 6 5 2 B 9 0 1 2 3 Total Depreciation Year 1 234 56700 8 Amount Penguin Network Warehouse, LLC ("PNW, LLC") acquired the following assets last year: Industrial Refrigeration Equipment on January 23 Network server computer equipment on May 4 Office furniture on June 12 Required: 1. Using the below MACRS depreciation table, leverage VLOOKUP formulas to calculate regular depreciation for each asset. 2. Sum the total depreciation for each year. (Hint: Use an IF formula with "Yes" and "No" to respond to the Fully Depreciated question.) Depreciation Rate for Recovery Period 3 5 33.33% 20.00% 44.45% 32.00% 19.20% 11.52% 11.52% 5.76% S 7 B 9 10 1 2 Year 1 23 24 25 Asset: 23 3 4 567 00 8 14.81% 7.41% Industrial Refrigeration Equipment Graded Worksheet + 7 14.29% 24.49% 17.49% 12.49% 8.93% 8.92% 8.93% 4.46% $ A1 4 25 26 27 28 29 30 31 32 33 34 35 35 37 38 39 0 1234557 18 24 25 Asset: 26 Class Life: 27 Basis: 36 40 Year 44 Asset: 45 Class Life: 46 Basis: 48 V BA Ev X fx Accessibility tab summary: Students please use the information below B C D E 1 2 P 3 4 5 T 6 7 Industrial Refrigeration Equipment Calibri 8 $1,434,214 Depreciaiton Rate 14.29%'$ 24.49% $ 17.49% 12.49% 8.93% 8.92% 8.93% 4.46% Total Fully Depreciated? 11 V $1,076,900 Depreciaiton Graded Worksheet + Calculation Mode: Automatic Workbook Statistics Amount Network Server Computer Equipment 192,034.57 329,106.14 *** O 2 3 4 5 -6 57 Asset: Class Life: Basis: 58 59 Year 50 61 62 63 Asset: 64 Class Life: 65 Basis: 66 67 1 2 3 s Network Server Computer Equipment 6 7 00 $1,076,900 Depreciaiton Rate Total Fully Depreciated? Office Furniture $1,002,237 Depreciaiton A Graded Worksheet Amount + = 6 B Asset: Class Life: Basis: 9 D 1 Year 2 3 Year 1 5 2 3 A Office Furniture 7 8 $1,002,237 Depreciaiton Rate Total Depreciation Total Fully Depreciated? 2 3 4 35 36 27 < > Graded Worksheet + Amount Amount 6 5 2 B 9 0 1 2 3 Total Depreciation Year 1 234 56700 8 Amount

Answer rating: 100% (QA)

Depreciation method Modified Accelerated Declining Balance Industrial Refrigeratio Equipment Year MA... View the full answer