Prepare the depreciation schedule using the declining balance method.

Austere Company purchased machinery for P570,000 on October 31, 2020. It is estimated that it will have a useful life of 4 years and residual value of P20,000. Prepare the depreciation schedule using the declining balance method. Year 2020 Year 2021 Year 2022 Year 2023 Year 2024 Acquisition cost Accumulated depreciation Net book value Depreciation expense 43