Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Help calculate the double declining balance The income statement 3rd picture Nicole's Getaway Spa (NGS) purchased a hydrotherapy tub system to add to the wellness

Help calculate the double declining balance
The income statement 3rd picture image text in transcribed
image text in transcribed
image text in transcribed
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 $10,500. The estimated useful life was five years and the residual value was $500. Assume that the estimated productive life of the machine is 10,000 hours. Expected annual production was year 1, 2,450 hours; year 2,2,300 hours; year 3, 2,150 hours; year 4, 2,100 hours; and year 5,1,000 hours. value: 0.90 points Required: 1. Complete a depreciation schedule for each of the alternative methods. (Do not round intermediate calculations. Round your final answers to the nearest dollar amount.) a. Straight-line. Depreciation Accumulated Year preciation Book Value 10,500 8,500 6,500 4,500 2,500 500 At Acquisition Year 1 Year 2 Year 3 Year 4 2,000 s 2,000 s ,000$ 2,000 $ 2,000 $ 2,000 $ 4,000 $ 6,000 s 8,000 S 10,000$ b. Units-of-production. Accumulated Book Value Year At Acquisition Year 1 Year 2 Year 3 Year 4 Year 5 10,500 8,050 5,750 3,600 1,500 500 450 2,300 $ 2,150 $ 2,100 $ 1,000 $ 2,450 $ 4,750 $ 6,900 $ 9,000 $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Clinical Audit In Mental Health Toward A Multidisciplinary Approach

Authors: John Riordan, Darren Mockler

1st Edition

0471963321, 978-0471963325

More Books

Students also viewed these Accounting questions