Question 1

1. When writing the built in Excel formula for straight line depreciation you would start off the formula with
2. =STL
3. =SLN
4. =(cost-salvage)/useful
5. =\$B\$6, \$B\$8, \$B\$9

12 points

Question 2

1. When setting up a spreadsheet to calculate depreciation in Excel you should type in the cost of asset
2. multiple times since you need the cost to calculate depreciation for each year presented
3. multiple times since you need the cost to calculate depreciation for each year presented and the cost changes each year
4. only 1 time and use relative cell referencing in your depreciation formulas
5. only 1 time and use absolute cell referencing in your depreciation formulas

12 points

Question 3

1. How do you calculate accumulated depreciation in Excel?
2. =cost + salvage value
3. =cost-salvage value/useful life
4. =cost-accumulated depreciation of the prior year
5. =cost-accumulated depreciation of the current year

12 points

Question 4

1. What is the purpose of a depreciation summary as described in your text?
2. to capture all similar assets by category to make it easier to prepare year end balance sheets
3. to capture all similar expenses by category to make it easier to prepare year end balance sheets
4. to capture all costs, depreciation, and accumulated depreciation for all assets to make it easier to prepare year end income statements
5. to capture all costs, depreciation, and accumulated depreciation for similar assets to make it easier to prepare year end financial statements

12 points

Question 5

1. When writing the built in formulas for depreciation what other formulas does Excel have in addition to straight line depreciation?
2. double declining balance and MACRS
3. units of productions and sum of the year’s digits
4. double declining balance and sum of the year’s digits
5. double declining balance and units of production

12 points

Question 6

1. What additional arguments are added to the built in depreciation formulas when you change from straight line deprecation to another built in depreciation formula?
2. cost
3. salvage value
4. estimated life
5. year or period of time

12 points

Question 7

1. When doing a comparison chart in Excel of the built in depreciation methods which one will show as a horizontal line?
2. Double declining
3. MACRS
4. Strainght line
5. Sum of the years
6. Unit of Production

12 points

Question 8

1. Interpret the following formula: =If ( A1> B1, “X”, C1)
2. If the value in cell A1 is less than the value in cell B1 enter in X if not enter in the value in cell C1
3. If the value in cell A1 is greater than the value in cell B1 enter in X
4. If the value in cell A1 is less than the value in cell B1 enter in X
5. If the value in cell A1 is greater than the value in cell B1 enter in X if not enter in the value in cell C1

12 points

Question 9

1. Once you create a chart in Excel and later discover you want to change the series to a new location you have to start the entire chat process over again, this cannot be edited in your existing chart.
2.  True
3.  False

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