Double-Declining-Balance Depreciation A small delivery truck was purchased on Ja

Question

Double-Declining-Balance Depreciation
A small delivery truck was purchased on January 1 at a cost of $29,600. It has an estimated useful life of four years and an estimated salvage value of $5,920.
Prepare a depreciation schedule showing the depreciation expense, accumulated depreciation, and book value for each year under the double-declining-balance method. If an amount box does not require an entry, leave it blank.
Small Delivery Truck
Depreciation Schedule
On January 1

Year

Book Value
Beginning of Year x

Rate (%) =

Depreciation Expense Accumulated Depreciation
End of Year

Book Value
End of Year
1 $ $ $ $
2
3
4

Explanation / Answer

Small Delivery Truck Depreciation Schedule On January 1 Year Rate (%) = Depreciation Expense Accumulated Depreciation End of Year Book Value Book Value Beginning of Year x End of Year 1 29600 50% 14800 14800 14800 2 14800 50% 7400 22200 7400 3 7400 50% 1480 23680 5920 4 5920 50% 0 23680 5920

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