1 23 A B D E F G H J K Sullivan Ranch Corporation has purchased a new tractor. The following information is given: 4 Cost: $150,000 5 Estimated Residual: $10,000 6 Estimated Life in years: 4 7 Estimated Life in hours: 1200 00 8 Actual Hours: 9 Year 1 10 Year 2 11 Year 3 12 Year 4 360 270 350 220 13 14 Required: 15 1. Prepare the following Straight-Line depreciation schedule by using the Excel SLN function to calculate Depreciation Expense 16 and entering formulas for the remaining cells. Use absolute cell references when appropriate. 17 18 (Use cells A4 to B12 from the given information to complete this question.) 19 20 21 22 SULLIVAN RANCH CORPORATION Depreciation Schedule-Straight-Line Method End of year amounts Depreciation Accumulated Expense Depreciation Book Value 23 Year 24 1 25 2 26 3 27 4 28 Total 29 A B E F G H 30 2. Prepare the following Activity Based depreciation schedule by entering formulas. Use absolute cell references when appropriate. 81 82 (Use cells A4 to B12 from the given information to complete this question.) 33 34 85 36 SULLIVAN RANCH CORPORATION Depreciation Schedule-Activity Based Method End of year amounts Depreciation Accumulated 87 Year 38 1 89 2 40 3 41 42 43 44 4 Total Expense Depreciation Book Value 3. Prepare the following Double-Declining-Balance depreciation schedule by using the Excel DDB function to calculate 45 Depreciation Expense and entering formulas for the remaining cells. Use absolute cell references when appropriate. 46 47 (Use cells A4 to B12 from the given information to complete this question.) 48 49 50 51 SULLIVAN RANCH CORPORATION Depreciation Schedule-Double-Declining-Balance Method End of year amounts Depreciation Accumulated 52 Year 53 1 54 2 55 3 56 4 57 Total 58 59 Expense Depreciation Book Value J