Question;Chapter 4 Case Problem 1:KELLY'S;BOUTIQUE;Kelly's Boutique owned;the following fixed assets as of December 31, 2010;Description;Asset #;101;102;103;Asset;Building;Computer System;Phone System;Date acquired;1/1/07;1/1/09;1/1/09;Cost;$500,000;$65,000;$46,500;Salvage value;$50,000;$1,000;$1,000;Estimated useful;life;20years;5years;5years;You;are to create a fixed asset depreciation summary and individual depreciation;worksheets for Kelly's Boutique using the straight-line depreciation method based;on the information tabulated above. Be sure to pay close attention to the date;of purchase for each asset so that your summary sheet is correct. The summary;sheet need only include depreciation from 2007 through 2010. Individual assets;must show depreciation over their entire useful life. Follow the text examples;for formatting. Label your worksheets as follows: Summary SL, Asset 101 SL;Asset 102 SL, and Asset 103 SL.;In;the same workbook, create Kelly's Boutique's fixed asset depreciation summary;and individual depreciation worksheets using the double declining balance;method and based on the tabulated information. Again, pay close attention to;the date of purchase for each asset so that your summary sheet is correct.;Label your worksheets: Summary DDB, Asset 101 DDB, Asset 102 DDB, and Asset 103;DDB.;In the same workbook, next create Kelly's Boutique's fixed;asset depreciation summary and individual depreciation worksheets using the;sum-of-the-year's digits method and based on the tabulated information. Pay;close attention to the date of purchase for each asset so that your summary;sheet is correct. Label your worksheets: Summary SYD, Asset 101 SYD, Asset 102;SYD, and Asset 103 SYD.;In the same;workbook, you should now create a chart of Asset 101's depreciation (over its;20-year estimated useful life) that compares the straight-line, double103104declining;balance, and sum-of-the-year's digits methods of calculating depreciation.;Label this worksheet: Chart. Choose any 2D line chart and chart layout that you;like.;Save the workbook as ch4-03_student_name (replacing student_name with your;name). Print all worksheets in Value view, with your name and date printed in;the lower left footer and the file name in the lower right footer.
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