please help im completely lost on this.
also please dont forget to answer the book value blank on "acquisition" on part one
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 $15,500. 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 1,2,350 hours: year 2, 2,500 hours; year 3, 2,050 hours: year 4.2.100 hours, and year 5, 1,000 hours. CC9-1 Part 1 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. Reg 1A Reg 1B Reg 10 Complete a depreciation schedule for straight-line method. (Do not round intermediate calculations. Round your final answers to the nearest dollar amount.) Yoar Depreciation Expense Accumulated Depreciation Book Value At Acquisition Your 1 Year 2 Year 3 Your 4 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 $15.500. The estimated useful life was five years and the residual value was $1500. Assume that the estimated productive life of the machine is 10,000 hours. Expected annual production was year 1. 2.350 hours, year 2, 2.500 hours year 3, 2,050 hours, year 4, 2.100 hours, and year 5, 1,000 hours. CC9-1 Part 2 2. Assume NGS sold the hydrotherapy tub system for $4,650 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.) View transaction list Journal entry worksheet Record the disposal of the hydrotherapy tub system for $1,650 in year 3 assuming depreciation was calculated using the straight-line method. Notes Enter debits before credits.. Doble Credit Homework 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 $15,500. 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 1,2,350 hours, year 2, 2.500 hours: year 3, 2,050 hours year 4.2.100 hours and year 5, 1000 hours CC9-1 Part 3 3. The following amounts were forecast for year 3: Sales Revenues $52000: Cost of Goods Sold 541,000, Other Operating Expenses $4,500; and Interest Expense $700. 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.) 10 NICOLE'S GETAWAY SPA (Forecasted) Income Statement For the Year Ended Year 3 Straight Line Units of Production Double Decling Total Operating Expenses
