Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. nicoles getaway spa (ngs) purchased a hydrotherapy

Nicoles Getaway Spa (NGS) purchased a hydrotherapy tub system to add to the wellness programs...

90.2K

Verified Solution

Question

Accounting

Nicoles 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 $7,000. The estimated useful life was five years and the residual value was $500. Assume that the estimated productive life of the machine is 13,000 hours. Expected annual production was year 1, 3,100 hours; year 2, 2,500 hours; year 3, 3,400 hours; year 4, 2,200 hours; and year 5, 1,800 hours.

Required:

  1. Complete a depreciation schedule for each of the alternative methods.
  1. Straight-line.
  2. Units-of-production.
  3. Double-declining-balance.

Complete this question by entering your answers in the tabs below.

  • Req 1A
  • Req 1B
  • Req 1C

Complete a depreciation schedule for straight-line method. (Do not round intermediate calculations. Round your final answers to the nearest dollar amount.)
Year Depreciation Expense Accumulated Depreciation Book Value
At Acquisition
Year 1
Year 2
Year 3
Year 4
Year 5

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students