Need help with a Multiple Choice Question Math 1-10 wk6qu

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Need help with a Multiple Choice Question Math 1-10 wk6qu

  1. 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.

    $180

    $440

    $620

10 points  

QUESTION 2

  1. 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.

    $0.60

    $0.70

    $0.07 

10 points  

QUESTION 3

  1. 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.

    $136.50

    $304.00

    $228.00

10 points  

QUESTION 4

  1. 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

  1. 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

    $3116.05

    $4298.00

    $4098.50

10 points  

QUESTION 6

  1. 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

    $1832.87

    $9992.13

    $5912.50

10 points  

QUESTION 7

  1. 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?

    $450.00

    $600.00 

    $900.00 

10 points  

QUESTION 8

  1. 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?

    $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?

$4050.00 

$4300.00 

$2150.00

QUESTION 10

  1. 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 

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