QUESTION

Text
Image


! Required information [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 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. 2. Assume NGS sold the hydrotherapy tub system for $\$ 2,550$ at the end of year 3 . Prepare the journal entry to account for the disposal of this asset under the three different methods. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest dollar amount.) View transaction list Journal entry worksheet A $\quad$ B $\quad$ C Record the disposal of the hydrotherapy tub system for $\$ 2,550$ in year 3 assuming depreciation was calculated using the straight-line method. Note: Enter debits before credits.
Journal entry worksheet Note: Enter debits before credits. \begin{tabular}{|c|c|c|c|} \hline Transaction & General Journal & Debit & Credit \\ \hline 2 & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular}
Journal entry worksheet Record the disposal of hydrotherapy tub system for $\$ 2,550$ in year 3 assuming depreciation was calculated using the double-declining method. Note: Enter debits before credits. \begin{tabular}{|c|c|c|c|} \hline Transaction & General Journal & Debit & Credit \\ \hline 3 & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular}

Public Answer

3BWZ3T The First Answerer