CONB-1 (Algo) Asset Acquisition, Depreciation, and Disposal Pool Corporation, Inc., is the world's largest wholesale distributor of swimming pool supplies and equipment. Assume Pool Corporation purchased for cash new loading equipment for the warehouse on January 1 of Year 1, at an invoice price of $90,000. It also paid $4,400 for freight on the equipment, $2.500 to prepare the equipment for use in the warehouse, and $1,400 for insurance to cover the equipment during operation in Year 1. The equipment was estimated to have a residual value of $4,500 and be used over three years or 30,000 hours Required: 1. Record the purchase of the equipment, freight, preparation costs, and insurance on January 1 of Year 1. 2. Create a depreciation schedule assuming Pool Corporation uses the straight-line method. 3. Create a depreciation schedule assuming Pool Corporation uses the double-declining-balance method. 4. Create a depreciation schedule assuming Pool Corporation uses the units-of-production method, with actual production of 9,200 hours in Year 1; 8,600 hours in Year 2; and 9,800 hours in Year 3. 5. On December 31 of Year 2 before the year-end adjustments, the equipment was sold for $28,500. Record the sale of the equipment assuming the company used the straight-line method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Record the purchase of the equipment, freight, preparation costs, and insurance on January 1 of Year 1. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View transaction list Journal entry worksheet 1 Record the purchase of equipment, freight, preparation costs, and insurance. Note: Enter debits before credits Date January 01 General Journal Debit Credit Clear entry Record entry View general journal Required 1 Required 2 > purchased for cash new loading equipment for the warehouse on January 1 of Year 1, at an invoice price of $90,000. It also paid $4,400 for freight on the equipment, $2,500 to prepare the equipment for use in the warehouse, and $1,400 for insurance to cover the equipment during operation in Year 1. The equipment was estimated to have a residual value of $4,500 and be used over three years or 30,000 hours Required: 1. Record the purchase of the equipment, freight, preparation costs, and insurance on January 1 of Year 1. 2. Create a depreciation schedule assuming Pool Corporation uses the straight-line method. 3. Create a depreciation schedule assuming Pool Corporation uses the double-declining-balance method. 4. Create a depreciation schedule assuming Pool Corporation uses the units-of-production method, with actual production of 9,200 hours in Year 1; 8,600 hours in Year 2; and 9,800 hours in Year 3. 5. On December 31 of Year 2 before the year-end adjustments, the equipment was sold for $28,500. Record the sale of the equipment assuming the company used the straight-line method. Complete this question by entering your answers in the tabs below.. Required 1 Required 2 Required 3 Required 4 Required 5 Create a depreciation schedule assuming Pool Corporation uses the straight-line method. (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Year Depreciation Expense 1 2 3 Accumulated Depreciation Net Book Value Required: 1. Record the purchase of the equipment, freight, preparation costs, and insurance on January 1 of Year 1. 2. Create a depreciation schedule assuming Pool Corporation uses the straight-line method. 3. Create a depreciation schedule assuming Pool Corporation uses the double-declining-balance method. 4. Create a depreciation schedule assuming Pool Corporation uses the units-of-production method, with actual production of 9,200 hours in Year 1; 8,600 hours in Year 2; and 9,800 hours in Year 3. 5. On December 31 of Year 2 before the year-end adjustments, the equipment was sold for $28,500. Record the sale of the equipment assuming the company used the straight-line method. Complete this question by entering your answers in the tabs below.. Required 1 Required 2 Required 4 Required 3 Required 5 Create a depreciation schedule assuming Pool Corporation uses the double-declining-balance method. (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Year Depreciation Expense Accumulated Depreciation Net Book Value 1 2 3 or 30,000 hours. Required: to have a residual value of $4,500 and be used over three years 1. Record the purchase of the equipment, freight, preparation costs, and insurance on January 1 of Year 1 2. Create a depreciation schedule assuming Pool Corporation uses the straight-line method. 3. Create a depreciation schedule assuming Pool Corporation uses the double-declining-balance method. 4. Create a depreciation schedule assuming Pool Corporation uses the units-of-production method, with actual production of 9,200 hours in Year 1; 8,600 hours in Year 2; and 9,800 hours in Year 3. 5. On December 31 of Year 2 before the year-end adjustments, the equipment was sold for $28,500. Record the sale of the equipment assuming the company used the straight-line method. Complete this question by entering your answers in the tabs below.. Required 1 Required 2 Required 3 Required 4 Required 5 Create a depreciation schedule assuming Pool Corporation uses the units-of-production method, with actual production of 9,200 hours in Year 1; 8,600 hours in Year 2; and 9,800 hours in Year 3. (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Year Depreciation Expense 1 2 3 Accumulated Depreciation Net Book Value Journal entry worksheet Record the depreciation expense, assuming the company uses the straight-line method. Note: Enter debits be credit Cate December 31 General Journal Debit Credi Record entry Clear entry On December 31 of Year 2, the equipment was sold for $28,500. Record the sale of the equipment assuming the company used the straight-line method. (If no entry is required for a transaction/event, select "No journal entry required" w the fist aunt het. On round intermediate calculations. Round your final answer to nearest whole dolar) View transaction list Journal entry worksheet Record the disposal of equipment assuming the company used the straight-line method. Note: Enter detits before credits Date December 31 General Journal Debit Credit Clear entry Record entry Required & View general journal 12 Next >