Sullivan Ranch Corporation has purchased a new tractor. The following information is given: Cost: $150,000...
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Sullivan Ranch Corporation has purchased a new tractor. The following information is given: Cost: $150,000 Estimated Residual: $10,000 Estimated Life in years: 4 Estimated Life in hours: 1200 Actual Hours: Year 1 360 Year 2 270 Year 3 350 Year 4 220 Required: 1. Prepare the following Straight-Line depreciation schedule by using the Excel SLN function to calculate Depreciation Expense and entering formulas for the remaining cells. Use absolute cell references when appropriate
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