Pool Corporation, Incorporated, 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 $75,600. It also paid $3,800 for freight on the equipment, $3,100 to prepare the equipment for use in the warehouse, and $1,100 for insurance to cover the equipment during operation in Year 1. The equipment was estimated to have a residual value of $5,100 and be used over three years or 25,800 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 8,600 hours in Year 1; 8,000 hours in Year 2; and 9,200 hours in Year 3.
5. On December 31 of Year 2 before the year-end adjustments, the equipment was sold for $25,200. Record the sale of the equipment assuming the company used the straight-line method.

Required 1:

Record the purchase of the equipment, freight, preparation costs, and insurance on January 1 of Year 1.

Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.

Record the purchase of equipment, freight, preparation costs, and insurance.

Date	General Journal	Debit	Credit
January 01

Required 2:

Create a depreciation schedule assuming Pool Corporation uses the straight-line method.

Note: Do not round intermediate calculations. Round your final answer to nearest whole dollar.

Year	Depreciation Expense	Accumulated Depreciation	Net Book Value
1
2
3

Required 3:

Create a depreciation schedule assuming Pool Corporation uses the double-declining-balance method.

Note: Do not round intermediate calculations. Round your final answer to nearest whole dollar.

Year	Depreciation Expense	Accumulated Depreciation	Net Book Value
1
2
3

Required 4:

Create a depreciation schedule assuming Pool Corporation uses the units-of-production method, with actual production of 8,600 hours in Year 1; 8,000 hours in Year 2; and 9,200 hours in Year 3.

Note: Do not round intermediate calculations. Round your final answer to nearest whole dollar.

Year	Depreciation Expense	Accumulated Depreciation	Net Book Value
1
2
3

Required 5a:

Record the depreciation expense, assuming the company uses the straight-line method.

Date	General Journal	Debit	Credit
December 31

Required 5b:

Record the disposal of equipment assuming the company used the straight-line method.

Date	General Journal	Debit	Credit
December 31