# Need help with a Quiz on Business Math

**Question description**

1. 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.

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

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.

Solve the problem using the information given in the table and the weighted-average inventory method. Round to the nearest cent.

4. 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 |

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 |

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 |

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?

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?

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?

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