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Gardenia Company purchased machinery for P800,000 on January 1, 2021. It is estimated that it will have a useful life of 20 years and residual
Gardenia Company purchased machinery for P800,000 on January 1, 2021. It is estimated that it will have a useful life of 20 years and residual value of P50,000.
Prepare the depreciation table using the double declining balance method.
| Year 2021 | Year 2022 | Year 2023 | Year 2024 | Year 2025 | |
| Acquisition cost |
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| Accumulated depreciation |
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| Net book value |
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| Depreciation expense |
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