You are asked to make a depreciation schedule for a business asset. A depreciation schedule shows the remaining value of the asset at the end of each time period. Create the following depreciation schedules using Excel. Ensure all calculations are computed with Excel formulas. Place each depreciation schedule on its own individual worksheet.
A $1,200 postage-printing system depreciated using the straight-line method over 4 years with a salvage value of $200. In your depreciation schedule, give the following information for each year: the year’s depreciation, the accumulated depreciation, and the year’s end-of-book value.
Using the same example from part 2, prepare a depreciation schedule using the sum-of-the-year’s digits depreciation method. In your depreciation schedule, give the following information for each year: depreciation rate, year’s depreciation, the accumulated depreciation, and the year’s end-of-book value.