Concept explainers
Open the file DEPREC from the website for this book at cengagebrain.com. The formulas on this worksheet are somewhat complicated. Be sure to use cell references wherever possible in your formulas instead of numbers. You should find the year numbers in column B helpful for some of the formulas in columns C, D, and E. Your instructor may tell you whether you are to construct your own formulas or use =SLN and =DDB (see Appendix A of Excel Quick for an explanation of these functions). For example, FORMULA1 could be either =(D7–D8)/D9 or =SLN(D7, D8, D9). Assume that all assets acquired will have at least a three-year life. Note that all cells on the worksheet containing zeros have been preprogrammed to perform
Enter the formulas in the appropriate cells. Does your depreciation total $320,000 under all three methods? If not, correct your error. (Hint: If your double-declining-balance method is off, check cell E32 where FORMULA12 is located. It should include an =IF statement that will enter a modified calculation of depreciation if Year 4 is the last year of the assetʼs expected life. See Appendix A of Excel Quick for an explanation of the =IF function. Save the completed file as DEPREC2. Print the worksheet. Also print your formulas using landscape orientation and fit-to-1 page scaling. Check figure: DDB depreciation for Year 3 (cell E31), $43,750.
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Excel Applications for Accounting Principles
- I need your help tutor! This is how you answer the problem (a) Identify the Given and the Unknown or what is being asked in the problem (b)Provide the formula to be used (c)Plug in the given in the formula if there is a derivation of the formula please show it (d)Box the final answer. however, the final answer is already included in the problem, what you need to do is to match your answer and the answer in the book. Because in the book they only provide the answer but not the solution. Problem:arrow_forwardI need your help tutor! This is how you answer the problem (a) Identify the Given and the Unknown or what is being asked in the problem (b)Provide the formula to be used (c)Plug in the given in the formula if there is a derivation of the formula please show it (d)Box the final answer. however, the final answer is already included in the problem, what you need to do is to match your answer and the answer in the book. Because in the book they only provide the answer but not the solution. PS: Do not give me a solution which is done in ms excel Problem:arrow_forwardPlease note: You can draw your trees either by hand on paper or in Excel. If you do it on a paper, please take a picture of the tree and insert it in your solution file. You can submit your solution as an Excel file or Word document. In either case, your solution should contain your decision trees and all necessary calculations (not just the results of calculations). Problem 1. The WHN Company Problem. The WHN Company is going to introduce one of the three new products: a widget, a hummer, or a nimnot. The market condition could be favorable, stable, or unfavorable with the probabilities 0.2, 0.5, and 0.3 respectively. The monetary outcomes for each product under each condition are described in the following table: Unfavorable $120,000 $70,000 -875,000 $40,000 $20,000 $30,000 $30,000 Favorable Stable Widget Hummer $60,000 Nimnot $35,000 Create a decision tree to identify which new product should be introduced in order to maximize the company's profit?arrow_forward
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- Hi Tutor, I have already done question 1. I would ask you to provide me the solution of 2 and 3. I have attached the file that have question. Thank you for the support.arrow_forwardHello Bartleby team, I've gone ahead and attached a screenshot of my question. Please note: The screenshot image with the Quantitative Problem is the question needing to be answered. The other screenshot is for reference if you need any of the information from that page. Let me know if you need any further details. Thank you for any answers and/or explanations you may provide!arrow_forwardcan you show me the correct journal entries for these please, want to compare to double check my work.arrow_forward
- Excel Applications for Accounting PrinciplesAccountingISBN:9781111581565Author:Gaylord N. SmithPublisher:Cengage Learning