$25,000 $5,000 5 years 17-7 From the following facts, prepare a depreciation schedule using the declining-balance method (twice the straight-line rate): LU 17-3(2) Given Chevrolet Colorado Residual value Estimated life Accumulated Depreciation At beginning of year Book value at beginning of year Depreciation expense Accumulated depreciation at end of year Book value at end of year End of Year Cost of Equipment 1 2 3 4 5 Original cost, does not change, Ending accumulated depreciation of 1 year Cost- Book value at Depreciation expense from Cost