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QUESTION

# Need help with a Quiz on Business Math

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 UnitBeginning Inventory25\$32.12March 170\$25.24June 165\$36.24August 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 UnitBeginning Inventory25\$33.18March 170\$28.60June 165\$38.75August 140\$21.49Units 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 UnitBeginning Inventory25\$34.13March 170\$27.34June 165\$35.61August 140\$20.77Units 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?