Lesson ProgressPhase 5 of 6
Phase 5Assessment
Assessment: Build Asset Register and Depreciation Schedule
Technical check on workbook logic and a short artifact task defending the register's trustworthiness
Audit and Explain: Is Your Workbook Trustworthy?
Technical Check + Artifact TaskComplete the technical check below, then write a short audit response defending your workbook's trustworthiness. An investor should be able to read your response and feel confident in your asset tracking.
What This Checks
- You can calculate book value from cost and accumulated depreciation
- You understand why formula linking matters
- You can identify and diagnose check column errors
- You know where to find total depreciation expense
Technical Check: Asset Register and Depreciation Logic
Test your understanding of workbook mechanics and depreciation calculations.
1. An asset costs $20,000, has a 4-year life, and $2,000 salvage value using straight-line. What is the Year 2 book value?
2. Your depreciation schedule shows 'ERROR' in the check column for Year 3. What is the most likely cause?
3. Why is it important that the depreciation schedule references the asset register by formula instead of typing numbers?
4. What should the final year's book value equal in a correctly built depreciation schedule?
5. An investor asks for the total depreciation expense hitting the income statement this year. Where do you find this number?
0 of 5 questions answered
Artifact Task: Audit Response Memo
Write a short memo (3-4 sentences) defending your workbook's trustworthiness.
Scenario: An investor reviews your asset register and asks: “How do I know these numbers are correct and will update if something changes?”
Your task: Write a response that:
- Names the two sheets in your workbook and what each proves
- Explains how formulas keep the schedule linked to the register
- Describes the check column and what “OK” means
- Cites one specific number from your workbook as evidence