Accounting
iReusecondoms
9-2B.xlsxPr. 9-2B
| Problem 9-2B | ||||||
| Name: | 0 | |||||
| Section: | # N-box Incorrects due to blanks COUNTIF(B15:AT24," ") | |||||
| 46 | ||||||
| Score: | 6% | # N-box +B-box corrects COUNTIF(B15:AT24," ") | ||||
| 3 | ||||||
| Key Code: | [Key code here] | Total SUM(AD13:AD15) | ||||
| Instructions | 49 | |||||
| Answers are entered in the cells with gray backgrounds. | Percentage =(AD16-AD13-AD14)/AD16 | |||||
| Cells with non-gray backgrounds are protected and cannot be edited. | 6% | |||||
| An asterisk (*) will appear to the right of an incorrect entry. | Notes: | |||||
| If number-entry box is blank (this would be an incorrect answer for N-boxes), error check returns two spaces, " " | ||||||
| If number-entry or blank-entry box is incorrect, returns "*" | ||||||
| 1. | If number-entry or blank-entry box is correct, returns single space, " " | |||||
| Depreciation Expense | Use data verification to set data entry to whole number >= 0, and use drop-downs for lables and names, so that students can't enter a space in a box and have it counted as correct. | |||||
| A. | B. | C. | Conditional formatting might be used but wasn't here, to hide some of the error check return symbols. If A1 = "~*", then font = red, if something else, then font = background color. | |||
| Straight- | Units-of- | Double-Declining- | ||||
| Year | Line | Activity | Balance | |||
| 1 |
Mark Sears: Complete the calculations below, then plug the amounts in here. |
Mark Sears: Complete the calculations below, then plug the amounts in here. |
Mark Sears: Complete the calculations below, then plug the amounts in here. | |||
| 2 | ||||||
| 3 | ||||||
| 4 | ||||||
| Totals |
Mark Sears: Enter as a formula. |
Mark Sears: Enter as a formula. |
Mark Sears: Enter as a formula. | |||
| Calculations: | ||||||
| Straight-line method: | ||||||
| (Cost | − Residual Value) | / | Years | = | Yearly Depreciation | |
| $ 71,250 Mark Sears: Enter as a formula. | ||||||
| Units-of-activity method: | ||||||
| (Cost | − Residual Value) | / | Total Hours | = | Rate | |
|
Mark Sears: Enter as a formula. | ||||||
| Rate | x | Hours | = | Yearly Depreciation | ||
| Year 1 |
Mark Sears: Enter as a formula. | |||||
| Year 2 | ||||||
| Year 3 | ||||||
| Year 4 | ||||||
| Double-declining-balance method: | ||||||
| Depreciable Balance | ||||||
| x | Rate | = | Yearly Depreciation | |||
| Year 1 |
Mark Sears: Enter fraction with an equal sign, such as "=2/3" |
Mark Sears: Enter as a formula. | ||||
| Year 2 | ||||||
| Year 3 | ||||||
| Since depreciation cannot cause book value to fall below residual value: | ||||||
| Depreciable Balance | Residual Value | |||||
| − | = | Yearly Depreciation | ||||
| Year 4 |
Mark Sears: Enter as a formula. | |||||
| 2. | ||||||
| The method that yields the most depreciation expense in Year 1 is the | ||||||
| double-declining-balance method | ||||||
| 3. | ||||||
| The method that yields the most total depreciation over the four years is the | ||||||
| all yield the same overall | ||||||
Sol
| Problem 9-2B | |||||
| Name: | Solution | ||||
| Section: | |||||
| Score: | ON | ||||
| Instructions | |||||
| Answers are entered in the cells with gray backgrounds. | |||||
| Cells with non-gray backgrounds are protected and cannot be edited. | |||||
| An asterisk (*) will appear to the right of an incorrect entry. | |||||
| 1. | |||||
| Depreciation Expense | |||||
| A. | B. | C. | |||
| Straight- | Units-of- | Double-Declining- | |||
| Year | Line | Activity | Balance | ||
| 1 | $ 71,250 Mark Sears: Complete the calculations below, then plug amounts in here. | $ 102,600 Mark Sears: Complete the calculations below, then plug amounts in here. | $ 160,000 Mark Sears: Complete the calculations below, then plug amounts in here. |
||
| 2 | 71,250 | 91,200 | 80,000 | ||
| 3 | 71,250 | 62,700 | 40,000 | ||
| 4 | 71,250 | 28,500 | 5,000 | ||
| Totals | $ 285,000 Mark Sears: Enter as a formula. | $ 285,000 Mark Sears: Enter as a formula. | $ 285,000 Mark Sears: Enter as a formula. |
||
| Calculations: | |||||
| Straight-line method: | |||||
| (Cost | − Residual Value) | / | Years | = | Yearly Depreciation |
| $ 320,000 | $ 35,000 | 4 | $ 71,250 Mark Sears: Enter as a formula. |
||
| Units-of-activity method: | |||||
| (Cost | − Residual Value) | / | Total Hours | = | Rate |
| $ 320,000 | $ 35,000 | 20,000 | $14.25 Mark Sears: Enter as a formula. |
||
| Rate | x | Hours | = | Yearly Depreciation | |
| Year 1 | $14.25 | 7,200 | $ 102,600 Mark Sears: Enter as a formula. |
||
| Year 2 | $14.25 | 6,400 | 91,200 | ||
| Year 3 | $14.25 | 4,400 | 62,700 | ||
| Year 4 | $14.25 | 2,000 | 28,500 | ||
| Double-declining-balance method: | |||||
| Depreciable Balance | |||||
| x | Rate | = | Yearly Depreciation | ||
| Year 1 | $ 320,000 | 0.500000 Mark Sears: Enter fraction with an equal sign, such as "=2/3" | $ 160,000 Mark Sears: Enter as a formula. |
||
| Year 2 | $ 160,000 | 0.500000 | 80,000 | ||
| Year 3 | $ 80,000 | 0.500000 | 40,000 | ||
| Since depreciation cannot cause book value to fall below residual value: | |||||
| Depreciable Balance | Residual Value | ||||
| − | = | Yearly Depreciation | |||
| Year 4 | $ 40,000 | $ 35,000 | $ 5,000 Mark Sears: Enter as a formula. |
||
| 2. | |||||
| The method that yields the most depreciation expense in Year 1 is the | |||||
| double-declining-balance method | |||||
| 3. | |||||
| The method that yields the most total depreciation over the four years is the | |||||
| all yield the same overall | |||||
