Purchases, Repairs, Depreciation, and Disposal of Fixed Assets

Question Description

You are an employee of a full service bookkeeping and auditing firm called Accounting Solutions. You have a client named Dan. Dan owns Dan’s Dependable Delivery, a national delivery service. You are responsible for managing the long term asset records.

For this project, you will do a sampling of job duties related to long term assets.

Prepare a depreciation schedule for three different vehicles, using three different methods.
Prepare a sampling of journal entries for long term assets.
Calculate and interpret the asset turnover ratio for Dan’s Dependable Delivery.

Use this Module 01 Excel template.

Use the first worksheet to prepare the depreciation schedules for three delivery vehicles. Dan’s Dependable Delivery has more vehicles in the fleet, but you are doing depreciation schedules for only three.
Use the second worksheet to record the journal entries and to calculate/interpret the asset turnover ratio.
Make your calculations in the cells using Excel formulas.

Use professional formatting.

For help with formatting financial statements and journals, watch the Statement Formatting and Functions video.

Submit your completed assignment by following the directions linked below. Please check the Course Calendar for specific due dates.

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