Function: SUM; Formula: Divide, Subtract, Multiply; Cell Referencing

BE$9\mathrm{.}6$ Using Excel to Calculate Double$-$Diminishing$-$Balance Depreciation

PROBLEM

Buckingham Ltd purchased a delivery truck on January $1,2021$

Buckingham has a December $31$ year end. Additional information concerning the truck follows

Purchase price of truck

Residual value Useful life

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.

Using the diminishing$-$balance method and assuming the depreciation rate is equal to double the straight$-$line rate, calculate the depreciation.

a For each year of the truck's life

$\backslash$table$[[$Rate$,,,,],[,,($imit$,,],[*,$January $1,,,$December $31],[,$Carrying,,Depreciation,Carning$],[,$Amount,Rate,Expense,Amount$],[2021,,0\%,,],[,*1),,,],[2022,,0\%,,$v$],[,,,*,$