C$9-1($Static$)$ Accounting for the Use and Disposal of Long$-$Lived Assets $[$LO $9-3,$ LO $9-5]$

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$[$The following information applies to the questions displayed below.$]$

Nicole$$s Getaway Spa $($NGS$)$ purchased a hydrotherapy tub system to add to the wellness programs at NGS$.$ The machine was purchased at the beginning of the year at a cost of $$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.

CC$9-1($Static$)$ Part $2$

Assume NGS sold the hydrotherapy tub system for $$2,100$ 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.$)$Required information

CC$9-1($Static$)$ 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 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 $1,3\mathrm{.}100$ hours; year $2,2,500$ hours; year $3\mathrm{.}3,400$ hours; year $4,2,200$ hours; and year $5,1,800$ hours.

$cc9-1($Static$)$ Part $2$

Assume NGS sold the hydrotherapy tub system for $$2,100$ 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 Intermedlate calculations. If no entry is requlred for a

transactlon$/$event$,$ select $"$No Journal Entry Requlred" In the flrst account fleld.$)$

Journal entry worksheet

A B C

Record the disposal of the hydrotherapy tub system for $$2,100$ in year $3$

assuming depreciation was calculated using the straight$-$line method.

Note: Entar debits butore credits: