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 $88.500. It also paid $4.200 for freight on the equipment, $2,400 to prepare the equipment for use in the warehouse, and $1,350 for insurance to cover the equipment during operation in Year 1. The equipment was estimated to have a residual value of $4,400 and be used over three years or 29,500 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 9.100 hours in Year 1; 8.500 hours in Year 2: and 9,700 hours in Year 3. 5. On December 31 of Year 2 before the year-end adjustments, the equipment was sold for $28.000. Record the sale of the equipment assuming the company used the straight-line method. Answer is not complete. 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.) No Date General Journal Debit Credit 1 January 01 95.100 Equipment Cash 95,100 X Required 1 Required 2 > 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 $88,500. It also paid $4.200 for freight on the equipment, $2,400 to prepare the equipment for use in the warehouse, and $1,350 for insurance to cover the equipment during operation in Year 1. The equipment was estimated to have a residual value of $4.400 and be used over three years or 29.500 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 9,100 hours in Year 1: 8.500 hours in Year 2 and 9,700 hours in Year 3. 5. On December 31 of Year 2 before the year-end adjustments, the equipment was sold for $28.000. Record the sale of the equipment assuming the company used the straight-line method. Answer is not complete. 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 1 Depreciation Expense s 30.233 30.233 30.233 Accumulated Depreciation S 30.233 60,487 90.700 Net Book Value S 84,887 34,634 4,401 2 3 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 $88.500. It also paid $4.200 for freight on the equipment, $2.400 to prepare the equipment for use in the warehouse, and $1,350 for insurance to cover the equipment during operation in Year 1. The equipment was estimated to have a residual value of $4.400 and be used over three years or 29.500 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 9.100 hours in Year 1: 8.500 hours in Year 2: and 9,700 hours in Year 3. 5. On December 31 of Year 2 before the year-end adjustments, the equipment was sold for $28.000. Record the sale of the equipment assuming the company used the straight-line method. Answer is not complete. 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 double-declining-balance method. (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Year 1 Depreciation Accumulated Net Book Expense Depreciation Value S 68,377 XS 68,377 XS 26.723 X 19,214 87,591 X 7.509 X 5.399 X 92.990 % 2.110 X 2 3 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 $88.500. It also paid $4,200 for freight on the equipment, $2.400 to prepare the equipment for use in the warehouse, and $1,350 for insurance to cover the equipment during operation in Year 1. The equipment was estimated to have a residual value of $4,400 and be used over three years or 29.500 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 9,100 hours in Year 1: 8.500 hours in Year 2: and 9,700 hours in Year 3. 5. On December 31 of Year 2 before the year-end adjustments, the equipment was sold for $28.000. Record the sale of the equipment assuming the company used the straight-line method. Answer is not complete. 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 9,100 hours in Year 1: 8,500 hours in Year 2; and 9,700 hours in Year 3. (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Year 1 Depreciation Accumulated Net Book Expense Depreciation Value IS 27.300 XS 27,300 $ 67,800 x 25,500 X 52,800 x 42.300 x 29,100 % 81,900 X 13,200 x 2 3 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 $88,500. It also paid $4.200 for freight on the equipment, $2.400 to prepare the equipment for use in the warehouse, and $1,350 for insurance to cover the equipment during operation in Year 1. The equipment was estimated to have a residual value of $4.400 and be used over three years or 29,500 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 9.100 hours in Year 1: 8.500 hours in Year 2: and 9.700 hours in Year 3. 5. On December 31 of Year 2 before the year-end adjustments, the equipment was sold for $28.000. Record the sale of the equipment assuming the company used the straight-line method. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 On December 31 of Year 2, the equipment was sold for $28,000. 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 in the first account field. Do not round intermediate calculations. Round your final answer to nearest whole dollar.). No Date General Journal Debit Credit 1 December 31 Cash Accumulated depreciation Loss on disposal of equipment Equipment 28.000 X 60,468 6,834 % 95.100