May someone help me finish this assignment please, it has instructions and needs the yellow spaces filled in. thank you a million!

Description Lab assignment #7 focuses on the depreciation of a company's fixed assets using the straight line, units of production, and double-declining balance methods. You are provided with the cost of a piece of equipment, the expected life (in years and units), and the expected salvage value. With this information you will need to calculate the depreciation expense, accumulated depreciation, and book value for the asset under each of the three methods for the life of the asset. In addition, you will utilize two new Excel functions to determine the straight line and double-declining balance depreciation expense amounts. After calculating all necessary amounts, the adjusting entries for the first year will need to be prepared under each method, followed by a short explanation of why your calculations for units of production and double- declining balance are accurate or not. ACC 213 - Lab #7 for Chapter 8 - Depreciation Methods Name Lab #7 is divided into two parts: Part 1 is a series of depreciation calculations. Use formulas/cell references to make your work as efficient as possible. Part 2 requires adjusting entries and a short written explanation. Instructions use the following data to complete the depreciation calculations Eguranturchased 12/2019 Cost of Equpment 563.000 Expected L (For SL and DDB) 10 years Expected (for Units of Production) 75.000 product uns Expected Sivage for Besidual Value Part 1: Straight-Line depreciation Part A - use Excel formulas to calculate depreciation expense, accumulated depreciation, and book values at 12/31 for each year. Part B - using the Excel function (click on fx, choose SLN, fill in the arguments screen), calculate the depreciation expense for years 1, 9 and 10. Units of Production (Units of Output) depreciation Use Excel formulas to calculate depreciation expense, accumulated depreciation, and book values at 12/31 for each year. Apply your formulas in Year 10 without considering whether you've depreciated too much or too little of the Note: there is no Excel fx for Units of Production depreciation. Double-Declining Balance depreciation Part A - use Excel formulas to calculate depreciation expense, accumulated depreciation, and book values at 12/31 for each year. Apply your formulas in Year 10 without considering whether you've depreciated too much or too little of the asset! Part - using the Excel function (click on tx, choose DDB, fill in the arguments screen), calculate the depreciation expense for years 1,9 and 10. Part 2: Part A- complete adjusting entries for each type of depreciation method as of 12/31/19. Part 8 - answer the question in the commentary section. Part 1 -- Calculations Straight-Line Depreciation Part A: Construct formulas to calculate Depreciation Expense for each year, and Accumulated Depreciation and Book Value at the end of each year. Depreciation Accumulated ROOR Expense Depreciation Value 1229 $62,000 Yep Year YO Yes YA YA Yes Year 10 Part : Using Excel function (Tx SLN), determine the depreciation expense for: units of Output (Unite of Production) Depreciation Construct formulas to calculate Depreciation Expense for each year, and Accumulated Depreciation and Book Value at the end of each year. only them without considering whether your deprecated too much or tool of these Actual Nurber of Depreciation Accumulated Book Units Produced Expense Depreciation Valve 1/2/19 362,000 15.200 Yeart 200 Year 2 4000 Year 2.400 Year 4 20.000 Years 2.400 Year 6 11.200 Year 7 1,600 Year 10,400 Year 13.000 Year 10 Double-Declining Balance Depreciation Part A: Construct formulas to calculate Depreciation Expense for each year & Accumulated Depreciation and Book Value at the end of each year. Apply the formula without considering whether you've depreciated too much or too little of the asset! Depreciation Accumulated Book Expense Depreciation Value 1/2/19 $62,000 Yeart Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Part B: Using Excel function (fx DDB), determine the depreciation expense for: Year 1 Year 9 Year 10 Part 2 -- Adjusting Entries & Commentary. Prepare the adjusting journal entry for depreciation on 12/31/19 three different ways: Straight-Line units of Production, and Double Declining Balance Acct Title Debit Credit Adjusting Entry: Straight-Line Adjusting Entry: Units of Prod. Adjusting Entry: DDE B Are the calculations YOU made for depreciation expense for Double-Declining Balance and Units of Production part A) correct? (Answer Yes or No and explain why your calculations are correct or incorrect.)