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Kttttttt Kttttttt
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6 years ago
Rock Industries purchased a piece of equipment for 171,500. The installation and shipping charges were 8,500. They expect the equipment to be used for 8 years and have no residual value. Rock Industries elects to use the sum-of-the-years' digits method of depreciation. What is the amount of accumulated depreciation by the end of the third year?

Q. 2

Joan Cash ordered candy from her supplier with a net price of 624, terms of sale of 2/15, n/45. What is the net amount due if the bill is paid by the 15th day?

Q. 3

World-Wide Corporation purchased a computer system for 45,500. Delivery costs totaled 1,550. The useful life is 5 years and the salvage value is 5,250. Prepare a depreciation schedule using the straight-line method, then enter the book value at the end of year 4 as your answer.

Q. 4

Ned's Sporting Goods purchased 260 sets of golf clubs and was given a 40/17/5 series of trade discounts by his wholesaler. What was the single equivalent discount?
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Lilah77Lilah77
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6 years ago
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Kttttttt Author
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#2
6 years ago
Great answers, all of them were right
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