Need help with a Multiple Choice Question Math 1-10 wk6qu
Choose the one alternative that best completes the statement or answers the question. Solve the problem. Round dollar amounts to the nearest dollar.
Find the yearly straight-line depreciation of a home theatre system including the receiver, main audio speakers, surround sound speakers, audio and video cables, and blue-ray player that costs $3100 and has a salvage value of $900 after an expected life of 5 years in a hotel lobby.
10 points
QUESTION 2
Solve the problem. Round unit depreciation to nearest cent when making the schedule, and round final results to the nearest cent.
A barge is expected to be operational for 280,000 miles. If the boat costs $19,000.00 and has a projected salvage value of $1900.00, find the unit depreciation.
10 points
QUESTION 3
Solve the problem. Round unit depreciation to nearest cent when making the schedule, and round final results to the nearest cent.
A construction company purchased a piece of equipment for $1520. The expected life is 9000 hours, after which it will have a salvage value of $380. Find the amount of depreciation for the first year if the piece of equipment was used for 1800 hours. Use the units-of-production method of depreciation.
$177.33
$136.50
$304.00
$228.00
10 points
QUESTION 4
Solve the problem using the information given in the table and the weighted-average inventory method. Round to the nearest cent.
Calculate the average unit cost.
Date of Purchase
Units Purchased
Cost Per Unit
Beginning Inventory
25
$32.12
March 1
70
$25.24
June 1
65
$36.24
August 1
40
$20.81
$32.90
$143.95
$28.79
$24.77
10 points
QUESTION 5
Solve the problem using the information given in the table and the weighted-average inventory method. Round to the nearest cent.
Calculate the cost of ending inventory.
Date of Purchase
Units Purchased
Cost Per Unit
Beginning Inventory
25
$33.18
March 1
70
$28.60
June 1
65
$38.75
August 1
40
$21.49
Units Sold
68
$1461.32
$3116.05
$4298.00
$4098.50
10 points
QUESTION 6
Solve the problem using the information given in the table and the weighted-average inventory method. Round to the nearest cent.
Calculate the cost of goods sold.
Date of Purchase
Units Purchased
Cost Per Unit
Beginning Inventory
25
$34.13
March 1
70
$27.34
June 1
65
$35.61
August 1
40
$20.77
Units Sold
62
$4079.63
$1832.87
$9992.13
$5912.50
10 points
QUESTION 7
Solve the problem. Use a fraction for the rate and round dollar amounts to the nearest cent.
Jeremy James is depreciating solar panels purchased for $3600. The scrap value is estimated to be $900. He will use double-declining-balance and depreciate over 6 years. What is the first year’s depreciation?
$1200.00
$450.00
$600.00
$900.00
10 points
QUESTION 8
Solve the problem. Use a fraction for the rate and round dollar amounts to the nearest cent.
Eric Johnson is depreciating a kitchen oven range purchased for $1720. The scrap value is estimated to be $172. He will use double-declining-balance and depreciate over 30 years. What is the first year’s depreciation?
$57.33
$103.20
$51.60
$114.67
9) Solve the problem. Use a fraction for the rate and round dollar amounts to the nearest cent.
Jane Frankis is depreciating a train engine purchased for $86,000. The scrap value is estimated to be $5000. She will use double-declining-balance and depreciate over 40 years. What is the first year’s depreciation?
$2025.00
$4050.00
$4300.00
$2150.00
QUESTION 10
Find the depreciation for the indicated year using MACRS cost-recovery rates for the properties placed in service at midyear. Round dollar amounts to the nearest cent.
[img alt=”” src=”https://content.grantham.edu/at/MA095/W6_Quiz/question10.png”>
Property Class
Depreciation Year
Cost of Property
3-year
3
$86,600.00
$28,863.78
$17,320.00
$12,825.46
$16,627.20
