Using Excel create depreciation schedule for the Straight-Line and Double-Declining-Methods

for the following Long-Term assets:

Asset 1 Office Furniture

Acquisition cost $30,000

Residual value $5,000

Useful life 7 years

Asset 2 Delivery Truck

Acquisition cost $40,000

Residual value $5,000

Useful life 5 years

Asset 3 Computer

Acquisition cost $2000

Residual value $0

Useful life 4 years

For each asset create its own Tab (Sheet) in the Excel worksheet and name the corresponding sheet by the asset.

At the top of each sheet create the input cells with the initial parameters of the asset (Name, Acquisition Cost, Residual Value, and Useful Life)

Below create Depreciation schedule for the (a) Straight-Line and (b) Double-Declining-Methods using formulas and cell references.

Prepare depreciation schedule using Straight-line and Double-Declining-Balance method for the following long term asset 200000 Name of the Asset Cost Estimated Residual Value Estimated Useful Life in years Microsoft Office User: Insert Purchase Cost, Estimated Residual Value, and Estimated Useful Life in the highlighted cells 10000 12 Depreciation Schedule Straight-Line method Years Depreciation Accumulated Book Value O (purchase year) Depreciation Double-Declining method Years Depreciation expe Accumulated D Book Value 0 (purchase year)