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 $8,500. 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, 2,250 hours; year 2, 2,350 hours: year 3, 2,300 hours: year 4. 2.100 hours; and year 5, 1,000 hours. 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 18 Year At Acquisition Year 1 Year 2 Year 3 Year 4 Year 5 Req 1C Complete a depreciation schedule for straight-line method. (Do not round intermediate calculations. Round your final answers to the nearest dollar amount.) Depreciation Accumulated Expense Depreciation Book Value

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 $8,500. 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, 2,250 hours; year 2, 2,350 hours: year 3, 2,300 hours: year 4. 2.100 hours; and year 5, 1,000 hours. 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 18 Year At Acquisition Year 1 Year 2 Year 3 Year 4 Year 5 Req 1C Complete a depreciation schedule for straight-line method. (Do not round intermediate calculations. Round your final answers to the nearest dollar amount.) Depreciation Accumulated Expense Depreciation Book Value

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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