Question: Question 12 DEPRECIATION METHODS - Double Declining Balance: 24 Points (note: this is the same asset information as before) On May 1, 2020 Rats Be

Question 12 DEPRECIATION METHODS - Double Declining Balance: 24 Points (note: this is the same asset information as before) On May 1, 2020 Rats Be Gone, Inc purchased equipment for $230,000 that makes rat traps. RBG also paid $2,000 for freight and $8,000 for installation. The equipment is expected to last 5 years and have a salvage value of $30,000. RBG expects the equipment to produce a total of 500,000 rat traps. ***REQUIRED*** 1) Complete a Depreciation Schedule for the years 2020-2024 for the equipment using the Double Declining Balance Method. Your answer should provide Depreciation Exp. Accum Depreciation, and NBV for the equipment for each year relevant. ***REQUIRED*** 2) Show the Balance Sheet Presentation of the asset as of 12/31/2023. This will just be a partial view, you do not need to worry about the other areas of the balance sheet, or the heading. Just the amounts & titles related to this fixed asset

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