On January 1, 20X1, Pagoda Pond Construction acquired a small excavator for $85,000. This device had a 4-year service life to Pagoda, at which time it is expected that the equipment will be sold for a $10,000 salvage value.
Pagoda uses the double-declining balance depreciation method.
(a)	Prepare a schedule showing annual depreciation expense, accumulated depreciation, and related calculations for each year.
(b)	Show how the asset and related accumulated depreciation would appear on a balance sheet at December 31, 20X3.
(c)	Prepare journal entries to record the asset's acquisition, annual depreciation for each year, and the asset's eventual sale for $10,000.

(a)
Year	Annual Expense	Accumulated Depreciation at End of Year		Annual Expense Calculation
X1
X2
X3
X4
(b)
	Property, Plant & Equipment (20X3)
	Equipment
	Less: Accumulated depreciation