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Case 3- 20 marks Asset 1001, 1002, 1003/Summary - M&T's Board Shop M&T owned the following fixed assets in their Board Shop: Shelving: acquired 1/1/2016; cost $8,000; salvage value $500; estimated useful life 10 years. Cash Register: acquired 1/1/2016; cost $6,500; salvage value $300; estimated useful life 8 years. Computer: acquired 1/1/2016; cost $24,000; salvage value $1,900; estimated useful life 3 years. Page 1 of 2 EXL 1004 - The Companies of MET Case 3 - Continued 1) Create a fixed asset depreciation worksheet using the straight-line depreciation method in the Asset Tab in your excel file. Create all information tables in Asset worksheet, but label them each appropriately (asset 1001, asset 1002, etc.). 2) Create a summary sheet in the following tab (Summary) in Excel G H 1 What SUP, Inc. Depreciation Schedule 2 3 Asset # 1001 4 Asset 5 Date acquired 6 Cost $ 7 Depreciation method S/L 8 Salvage value $ 9 Estimated useful life 70 Depreciation 11 Year Expense 12 2017 13 2018 14 2019 15 2020 16 2021 17 18 19 20 Accumulated Depreciation L 21 22 23 24 25 26 Inventory Income Statement Balance Sheet Ratio Analysis Asset 1001, 1002, 1003 Summary Loan Bond Cash Budget D E F G H 1 K L M z N o a Q B 1 M&T's Board Shop 2 Equipment Depreciation Summary 3 Date Acquired 2017 2018 2019 2020 2021 Deprec. 2017 Acc. 2018 Acc. 2019 Acc. 2020 Acc. 2021 Acc. Method Deprec. Deprec. Deprec. Deprec. Deprec. Deprec. Deprec. Deprec. Deprec. Deprec. 4 Asset Cost 5 6 7 8 9 10 Total 11 S SO SO SO SO SO SO 50 SO SO SO 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Inventory Income Statement Balance Sheet Ratio Analysis Asset 1001, 1002, 1003 Summary Loan Bond Cash Budget + Ready EO