Question: Formula: Multiply, Divide, Subtract; Cell Referencing Some cells are merged. Using Excel to Calculate a Change in Estimates for Depreciation Student Work Area Required: Provide

Formula: Multiply, Divide, Subtract; Cell Referencing Some cells are merged. Using Excel to Calculate a Change in Estimates for Depreciation Student Work Area Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem and work area as indicated. PROBLEM Chuckwalla Limited purchased a computer on January 1,2023. Straight-line depreciation is used for the computer. In 2025, the estimates are revised and at that time, Chuckwalla now expects the computer will be used until December 31,2026 and has revised the salvage value. Additional information concerning the computer follows. Calculate the 2025 depreciation expense. Annual depreciation expenseCost of computer$7,000Carrying amount, January 1,2025Original estimated salvage value1,000Original estimated useful life in years5Remaining useful life in yearsRevised salvage value500.Depreciation expense, 2025

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