Question 1

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

**12 points **

Question 2

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

**12 points **

Question 3

- How do you calculate accumulated depreciation in Excel?
- =cost + salvage value
- =cost-salvage value/useful life
- =cost-accumulated depreciation of the prior year
- =cost-accumulated depreciation of the current year

**12 points **

Question 4

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

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

**12 points **

Question 6

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

**12 points **

Question 7

- When doing a comparison chart in Excel of the built in depreciation methods which one will show as a horizontal line?
- Double declining
- MACRS
- Strainght line
- Sum of the years
- Unit of Production

**12 points **

Question 8

- Interpret the following formula: =If ( A1> B1, “X”, C1)
- 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
- If the value in cell A1 is greater than the value in cell B1 enter in X
- If the value in cell A1 is less than the value in cell B1 enter in X
- 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

- 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.
- True
- False