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14.7EXCEL PROBLEM
a.Create the following spreadsheet
b.Create formulas to calculate
·Accumulated depreciation (all assets use the
straight line method; all assets acquired any time during the year get a full
year’s initial depreciation)
·Current year’s depreciation (straight-line
method, full amount for initial year in which asset acquired)
·Ending accumulated depreciation
·Net book value at end of period
·Current year in the cell
to the right of the phrase “Depreciation schedule for year”
·Column totals for acquisition cost, beginning
depreciation, current depreciation, ending accumulated depreciation, net book
value
·In the cell to the right of the arrow
following the text “Cross-footing test” create a formula that checks whether
the sum of the net book value column equals the sum of acquisition costs minus
the sum of ending accumulated depreciation. If the two values match, the
formula should display the text “Okay” otherwise it should display the text
“Error”
c. Create a table at the bottom of your
worksheet that consists of two columns:
1. Asset name (values should be chair, desk,
laptop, monitor, software, and workstation)
2. Net book value (create a formula to calculate
this number) assuming that the current date is 06/30/2011
·Create a formula that sums the total net book
values for all classes of assets
·In the cell to the right of the total net
book values for all asset classes, create a formula that compares the total net
book values for all classes of assets to the sum of all net book values in the
top portion of the spreadsheet. The formula should return “Okay” if the two
totals match or “Error: Sum of net book values by asset class does not equal
sum of all net book values” if the two totals do not equal one another.
d.Enter your name in row 1
in the cell to the right of the text “Name”
