Preparing Depreciation Schedules Using Various Depreciation Methods

Frito Inc. acquired equipment on January $1$ at a cost of $$20,000$ that is estimated to have a useful life of five years and a residual value of $$5,000.$

Required

Prepare a depreciation schedule showing annual depreciation expense, and year$-$end accumulated depreciation

and book value over the life of the asset using the following methods.

a$.$ Straight$-$line method.

b$.$ Sum$-$of$-$the$-$years'$-$digits method.

c$.$ Double$-$declining$-$balance method.

c$.$ Double$-$Declining$-$Balance Depreciation Method