Complete a depreciation schedule for the new tractor using the 3 depreciation methods.

A. Complete a depreciation schedule for the new tractor using all 3 depreciation methods. Link/reference all cells on your depreciation schedules back to the Given data section. Use the add/sum/subtract functionality as needed. B. Record the following in the general journal. Link your amounts back to the depreciation schedule. 1. Record the entry for the original purchase on Jan 1, Year 1 2. Record the depreciation journal entry for Dec 31, year 1 for each of the methods. 3. Record the journal entry for each method if the tractor is sold Jan 1, year 3 for $75,000. 4. Recalculate ONLY the year 1 depreciation for each method if the tractor had been purchased on April 1 rather than Jan 1. Record the new year 1 journal entry for this change. If no change is needed, please record "no change" in the journal entry. C. Provide an answer to the following: Which method will provide the highest net income in year 3 all other factors being equal? Include a brief explanation for your answer. information $ $ 165,000 15,000 Cost: Estimated Residual: Estimated Life in years Estimated Life in hours 4 Numerous examples have completed in chapter 9. 1,200 Actual hours per year Month Purchased for recalculation question 4 75,000 Nm 1 2 3 4 360 Amount of cash for sale 300 320 220 Prepare a double declining depreciation schedule using Excel/Sheet formulas for years 1-4. The schedule should contain for each year the year number, the depreciation expense, the accumulated depreciation and the book value. Sullivan Ranch Corporation Depreciation Schedule Double declining method End of year amounts Depreciation Expense Accumulated Depreciation Cost Book Value Year Purchase Jan 1 year 1 Dec 31 year 1 Dec 31 year 2 Dec 31 years Dec 31 year 4 REQ B. 34 Prepare a straight-line depreciation schedule using Excel/Sheet formulas for years 1-4. The schedule should contain for each year, the year number, the depreciation expense, the accumulated depreciation and the book value. Sullivan Ranch Corporation Depreciation Schedule Straight-line method End of year amounts Depreciation Expense Accumulated Depreciation Cost Book Value Year Purchase jan 1 year 1 Dec 31 yea 1 Dec 31 year 2 Dec 31 year 3 Dec 31 year 4 REQ B.#2 Prepare a units of production depreciation schedule using Excel/Sheet formulas for years 1-4. The schedule should contain for each year: the year number, the depreciation expense, the accumulated depreciation and the book value Sullivan Ranch Corporation Depreciation Schedule Units of production method End of year amounts Depreciation Expense Accumulated Depreciation Cost Book Value Year Purchase Jan 1 year 1 Dec 31 year 1 Dec 31 year 2 Dec 31 year 3 Dec 31 year 4 REQB