Please fill in the table using the information below it labeled "Activity".

The last two slides are just to help you!!!

\begin{tabular}{|l|l|l|l|} \hline & Formula & Dollar Values & Answer \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|l|l|} \hline \multicolumn{2}{|l|}{ DDB Depreciation of the period } & \multicolumn{2}{l|}{ End of Period } \\ \hline Year & Beg. Book Value & Depreciation Rate & Depreciation Expense & Accumulated Depreciation & Ending Book Value \\ \hline 1 & & & & & \\ \hline 2 & & & & & \\ \hline 3 & & & & & \\ \hline 4 & & & & & \\ \hline 5 & & & & \\ \hline \end{tabular} Activity: Double-Declining Balance Method Equipment cost $24,000 Useful Life 5 years Residual value $2000 - Calculate the double-declining rate to depreciate the equipment - Use table to document and calculate the depreciation expense for the equipment The double declining balance method is an accelerated form of depreciation under which most of the depreciation associated with a fixed asset is recognized during the first few years of its useful life. Note: NEVER depreciate BELOW the Residual Value Step t Straight-line rate =100%+ Useful life =100%+5 years =20% Step 2 Double-declining-balance rate =2 Straight-line rate =220%=40% Stgep 3 Depreciation expense = Double-declining-balance rate Beginning-period book value 40%$10,000=$4,000 Double-Declining Balance Method