13 Part 1 of 3 1 Required information CC9-1 Accounting for the Use and Disposal of Long-Lived Assets [LO 9-3, LO 9-5] (The following Information applies to the questions displayed below.) Nicole's Getaway Spa (NGS) purchased a hydrotherapy tub system to add to the wellness programs at NGS. The machine was purchased at the beginning of the year at a cost of $24,500. The estimated useful life was five years and the residual value was $1,500. Assume that the estimated productive life of the machine is 10,000 hours. Expected annual production was year 1, 2,500 hours: year 2, 2.400 hours: year 3, 2,000 hours: year 4, 2,100 hours; and year 5, 1,000 hours. 0/2.06 points awarded Scored CC9-1 Part 1 c-Rock Required: 1. Complete a depreciation schedule for each of the alternative methods. Print a. Straight-line. b. Units-of-production c. Double-declining-balance References Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 1c Complete a depreciation schedule for straight-line method. (Do not round intermediate calculations. Round your final answers to the nearest dollar amount.) Depreciation Expense Accumulated Depreciation Book Value Year At Acquisition Year 1 Year 2 Year 3 Year 4 Year 5 X x x x x x X x x 14 Required information CC9-1 Accounting for the Use and Disposal of Long-Lived Assets [LO 9-3, LO 9-5) [The following information applies to the questions displayed below.] Part 2 of 3 Nicole's Getaway Spa (NGS) purchased a hydrotherapy tub system to add to the wellness programs at NGS. The machine was purchased at the beginning of the year at a cost of $24,500. The estimated useful life was five years and the residual value was $1,500. Assume that the estimated productive life of the machine is 10,000 hours. Expected annual production was year 1, 2,500 hours; year 2, 2,400 hours: year 3, 2,000 hours; year 4, 2,100 hours, and year 5, 1,000 hours. 0/2.06 points awarded Scored CC9-1 Part 2 Back 2. Assume NGS sold the hydrotherapy tub system for $7,350 at the end of year 3. Prepare the journal entry to account for the disposal of this asset under the three different methods. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest dollar amount.) . Print No Transaction General Journal Debit Credit References A 1 B 2 15 Part 3 of 3 3 Required information CC9-1 Accounting for the Use and Disposal of Long-Lived Assets [LO 9-3, LO 9-5) The following information applies to the questions displayed below.) Nicole's Getaway Spa (NGS) purchased a hydrotherapy tub system to add to the wellness programs at NGS. The machine was purchased at the beginning of the year at a cost of $24,500. The estimated useful life was five years and the residual value was $1,500. Assume that the estimated productive life of the machine is 10,000 hours. Expected annual production was year 1. 2,500 hours: year 2. 2.400 hours; year 3, 2,000 hours: year 4.2.100 hours; and year 5. 1.000 hours. 0/2.16 points awarded Scored CC9-1 Part 3 eBook 3. Assume NGS sold the hydrotherapy tub system for $7,350 at the end of year 3.The following amounts were forecast for year 3: Sales Revenues $61,000: Cost of Goods Sold $48,000; Other Operating Expenses $4,100; and Interest Expense $600. Create an Income statement for year 3 for each of the different depreciation methods, ending at Income before Income Tax Expense. (Don't forget to include a loss or gain on disposal for each method.). (Do not round intermediate calculations. Round your answers to the nearest dollar amount.) Print References NICOLE'S GETAWAY SPA ( (Forecasted) Income Statement For the Year Ended Year 3 Straight- Units-of- Line Production Double- Declining Balance X x X x x 0 0 @ x 0 0 0 Operating Expenses: x x X X X x x x x X X Total Operating Expenses 0 0 0 x x x 0 X 0 0 Red text Indicates no response was expected in a celor a formula-based cloution is incorrect; no points deducted