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All the numbers are right except I can't figure out year 5. All numbers are correct. Just need help filling in the missing holes. Required
All the numbers are right except I can't figure out year 5. All numbers are correct. Just need help filling in the missing holes.
Required information 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 $13,500. The estimated useful life was five years and the residual value was $500. Assume that the estimated productive life of the machine is 10,000 hours. Expected annual production was year 1, 2,300 hours; year 2, 2,450 hours; year 3, 2,150 hours; year 4, 2,100 hours; and year 5,1,000 hours. Required: 1. Complete a depreciation schedule for each of the alternative methods a. Straight-line. b. Units-of-production c. Double-declining-balance. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Complete a depreciation schedule for straight-line method. (Do not round intermediate calculat to the nearest dollar amount.) Depreciation Accumulated Depreciation Book Value Year At Acquisition Year 1 Year 2 Year 3 Year 4 Year 5 Expense 2,600 $ 2,600 $ 2,600 2,600$ 10,400$ 2,600 $ 3,000 2,600 10,900 5.200 S 7,800 $ 8,300 5,700 3,100 500 Req 1A Req 1B > Complete this question by entering your answers in the tabs below. Req 1A Req 1BReq 1C Complete a depreciation schedule for units-of-production method. (Do not round intermediate calculations answers to the nearest dollar amount.) Depreciation Accumulated Expense Depreciation Book Value Year At Acquisition Year 1 Year 2 Year 3 Year 4 Year 5 2,990 $ 3,185 S 2,795S 2,730 11,700 1,30013,00or 2,990 $ 10,510 7,325 4,530 1,800 500 6,175 $ 8,970 $ K Req 1A Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Complete a depreciation schedule for double-declining-balance method. (Do not round intermediate c final answers to the nearest dollar amount.) Depreciation Accumulated Depreciation Book Value Year At Acquisition Year 1 Year 2 Year 3 Year 4 Year 5 Expense 5,400 $ 3,240$ 1,944 $ 1,166 $ 5,400 $ 8,640 $ 10,584 $ 11,750 $ 8,100 4,860 2,916 1,750 Req 1C Required information 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 $13,500. The estimated useful life was five years and the residual value was $500. Assume that the estimated productive life of the machine is 10,000 hours. Expected annual production was year 1, 2,300 hours; year 2, 2,450 hours; year 3, 2,150 hours; year 4, 2,100 hours; and year 5,1,000 hours. 3. Assume NGS sold the hydrotherapy tub system for $4,050 at the end of year 3.The following amounts were forecast for year 3: Sales Revenues $51,000; Cost of Goods Sold $40,000; Other Operating Expenses $5,100; and Interest Expense $1,000. 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.) NICOLE'S GETAWAY SPA (Forecasted) Income Statement For the Year Ended Year 3 Units-of- Production Double- Declining Balance Straight-Line Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: 51,000 $ 40,000 11,000 51,000 S 40,000 11,000 51,000 40,000 11,000 Depreciation Expense Loss (Gain) on Disposal Other Operating Expenses 2,600 2,795 1,944 5,100 5,100 5,100 Total Operating Expenses 7,700 7,895 7,044 ncome from Operations nterest Expense 1,000 1,000 1,000 ncome before Income Tax Expense (1,000) (1,000) (1,000)Step by Step Solution
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