Question: As you know, each amount on a Balance Sheet must be provable. One way that accountants can prove that a xed asset's listed amount is

As you know, each amount on a Balance Sheet must
As you know, each amount on a Balance Sheet must be provable. One way that accountants can "prove" that a xed asset's listed amount is correct in the AIS is to maintain a Fixed Assets Book in Excel. The Fixed Asset Book contains copies of purchase receipts/invoices for each asset; also included in the book is a depreciation schedule for each asset, so that the carrying amount and the monthly depreciation expense for each asset matches the amounts noted in the AIS. In Excel, please construct a depreciation schedule for the following asset and note the asset's carrying amount and the monthly depreciation expense for the period ending March 31, 2024. Asset: Delivery Vehicle Cost: $55,000 Salvage Value: $7,500 Expected Life: 6 years Acquisition Date: 31 October, 2019

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