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Author Question: Reese Hardware purchased a new industrial size tool maker for 19,600. Shipping charges were 300 and ... (Read 73 times)

gonzo233

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on: Jun 24, 2018
Reese Hardware purchased a new industrial size tool maker for 19,600. Shipping charges were 300 and installation amounted to 480. The tool maker is estimated to have a 5 year life and a residual value of 1,000. Reese elects to use the sum-of-the years' digits method. a. What is the depreciation rate fraction for year 1? b. What is the amount of depreciation for year 2?

Question 2

Find the net price for an order of merchandise with a list price of 19,000 less trade discounts of 35/25/15. Use the net price, complement method.


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Sophiapenny

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Reply #1 on: Jun 24, 2018
Answer to Question 1

a. 5/15
b. 5,168

Answer to Question 2

7,873.13


gonzo233

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Reply 2 on: Jun 24, 2018
Great answer, keep it coming :)

parker125

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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