- Range: One or more cells to average, including numbers or names, arrays, or references that contain numbers.
- Criteria: The criteria in the form of a number, expression, cell reference, or text that defines which cells are averaged. For example, criteria can be expressed as 32, "32", ">32", "apples", or B4.
- Average range: The actual set of cells to average.
5. Enter the following function arguments within Range, Criteria and Average_range function.
- Asset_Category refers to the data range C8:C41.
- Check_Useful_life refers to the data range J8:J41
- Highlight the respective data range.
- Place the cursor in the name box.
- Press Enter.
The total depreciation can now be compared to the actual depreciation as per trial balance. Further audit work can be performed if it is concluded that the difference is not acceptable.