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Colin Company purchased machinery for P550,000 on August 30, 2020. It is estimated that it...

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Accounting

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Colin Company purchased machinery for P550,000 on August 30, 2020. It is estimated that it will have a useful life of 6 years and residual value of P50,000 Prepare the depreciation schedule using the double declining balance method. Year 2020 Year 2021 Year 2022 Year 2023 Year 2024 Year 2025 Year 2026 Acquisition cost TAJ [B] (C (D) [E] [F] [G] Accumulated depreciation U J [K] [L] Net book value [0] IP) [Q] [R] [S] [T] [U] M] [W] [X] IY [Z] [AA] [BB] Depreciation expense Double declining balance rate [CC]

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