Need help with a Quiz on Business Math

Dec 1st, 2015
KateS
Category:
Mathematics
Price: $15 USD

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 PurchaseUnits PurchasedCost Per Unit
Beginning Inventory25$32.12
March 170$25.24
June 165$36.24
August 140$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 PurchaseUnits PurchasedCost Per Unit
Beginning Inventory25$33.18
March 170$28.60
June 165$38.75
August 140$21.49
Units Sold68

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 PurchaseUnits PurchasedCost Per Unit
Beginning Inventory25$34.13
March 170$27.34
June 165$35.61
August 140$20.77
Units Sold62

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?


Tutor Answer

(Top Tutor) Daniel C.
(997)
School: Purdue University
PREMIUM TUTOR

Studypool has helped 1,244,100 students

8 Reviews


Summary
Quality
Communication
On Time
Value
Five Star Tutor
Dec 1st, 2016
" Outstanding Job!!!! "
SjSurvivor143
Nov 15th, 2016
" Thanks for the help. "
Joemoe
Nov 1st, 2016
" <3 it, thanks for saving me time. "
tinytim47
Oct 23rd, 2016
" Wow this is really good.... didn't expect it. Sweet!!!! "
pmallory
Oct 19th, 2016
" Totally impressed with results!! :-) "
mixedballz
Oct 10th, 2016
" excellent work as always thanks for the help "
kiln82
Sep 26th, 2016
" awesome work thanks "
darnay
Sep 17th, 2016
" The best tutor out there!!!! "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1826 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors