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can you show me the journal entries for all 3 methods. thank you Nicole's Getaway Spa (NGS) purchased a hydrotherapy tub system to add to
can you show me the journal entries for all 3 methods. thank you
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 $10,000. The estimated useful life was five years and the residual value was $1,000. Assume that the estimated productlve life of the machine is 10,000 hours. Expected annual production was year 1, 2,400 hours: year 2, 2,500 hours; year 3, 2,000 hours; year 4, 2,100 hours; and year 5, 1,000 hours. 2. Assume NGS sold the hydrotherapy tub system for $3,000 at the end of year 3. Prepare the Joumal entry to account for the disposal of thls asset under the three different methods. (Do not round Intermediate calculntions. If no entry Is required for a transaction/event, select "No Journal Entry Required" in the first account fleld. Round your final answers to the nearest dollar (amount) Journal entry worksheet (C) Record the disposal of the hydrotherapy tub system for $3,000 in yoar 3 assuming deprecintion was calculated using the straight-line method. Notei Ehtar dfbits befont geaits Step by Step Solution
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