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Love Thy Pets Inc., Depreciation Schedule Declining Balance For 5 Year Asset $20,000 5,000 5 Years
C Accumulated depreciation at beginning of year D Book value at beginning of year (Cost Accumulated depreciation) E Depreciation Rate 1/Life X 2 F Annual Depreciation (Book value at beginning of year X Rate) G Accumulated depreciation at end of year H Book value at end of year (Cost Accumulated depreciation)
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Systematic Instructions Always start with the three-line header, which in this case includes the name of the corporation, the title of the form, and the assets useful life. 1. On the first line place the title Cost of Asset and then the dollar value of the asset. 2. On the second line place the title Residual Value and the dollar value of the asset at the end of its useful life to the corporation. 3. On the third line place the title Useful Life and the amount of years the asset will be of value to the corporation. Please take note that an asset does not cease to exist just because it is no longer useful to the corporation. 4. On the fourth line label the columns alphabetically. 5. On the fifth line use the following labels
Accumulated depreciation at beginning of year Book value at beginning of year (Cost Accumulated depreciation) Annual Depreciation (Book value at beginning of year X Rate) Book value at end of year (Cost Accumulated depreciation)
End of year
Cost of Asset
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