Please help me Required informationCC9-1 (Algo) 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 machinewas purchased at the beginning of the year at a cost of $22,000. The estimated useful life was five years and the residualvalue was $1,000. Assume that the estimated productive life of the machine is 10,000 hours. Expected annual productionwas year 1, 2,400 hours; year 2, 2,350 hours; year 3, 2,150 hours; year 4, 2,100 hours; and year 5, 1,000 hours.CC9-1 (Algo) Part 1Required: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.Req 1AReq 1CComplete a depreciation schedule for straight-line method. (Do not round intermediate calculations. Round your final answersto the nearest dollar amount.)YearAt AcquisitionYear 1Req 18DepreciationExpensepaAccumulatedDepreciationBook Value

Depreciation per year = (Cost - Salvage value)/ Life Depreciation per year = ($22,000 - $1,000) / 5…

by Spa (NGS) purchased a hydrotherapy tub system to add to the wellness programs at NC at the beginning of the year at a cost of $22,000. The estimated useful life was five years 0. Assume that the estimated productive life of the machine is 10,000 hours. Expected an 20 hours; year 2, 2,350 hours; year 3, 2,150 hours; year 4, 2,100 hours; and year 5, 1,000 he 1

by Spa (NGS) purchased a hydrotherapy tub system to add to the wellness programs at NC at the beginning of the year at a cost of $22,000. The estimated useful life was five years 0. Assume that the estimated productive life of the machine is 10,000 hours. Expected an 20 hours; year 2, 2,350 hours; year 3, 2,150 hours; year 4, 2,100 hours; and year 5, 1,000 he 1

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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