« previous next »

Author Question: Stowe Lumber purchased new office furniture amounting to 64,300. Using MACRS and Tables 17-1 and ... (Read 49 times)

meagbuch

  • Hero Member
  • *****
  • Posts: 568
on: Jun 24, 2018
Stowe Lumber purchased new office furniture amounting to 64,300. Using MACRS and Tables 17-1 and 17-2 from your text: a. What is the cost recovery percentage for the end of year 5? b. What is the amount of depreciation expense for year 5? (Round to the nearest dollar)

Question 2

Finney & Company purchased 1,800 of merchandise on May 6. The terms were 2/15 EOM. The sneakers were received on May 20, sent F.O.B. shipping point. Freight charges amounted to 45. a. What is the discount date? b. What payment must be made by that date to take advantage of the discount?


bigcheese9

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jun 24, 2018
Answer to Question 1

a. 8.93
b. 5,742

Answer to Question 2

a. June 15
b. 1,809


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Your heart beats over 36 million times a year.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Jean Piaget in his office. Jean Piaget in his office.
A typical office layout. A typical office layout.
Basic massage practice office area. Basic massage practice office area.
Exploring Microsoft Office 2010, Volume 1 (2nd Edition) 2nd Edition Exploring Microsoft Office 2010, Volume 1 (2nd Edition) 2nd Edition
Jump Right In: Essential Computer Skills Using Microsoft Office 2013 (2nd Edition) Jump Right In: Essential Computer Skills Using Microsoft Office 2013 (2nd Edition)
The diagonal of the floor of a rectangular office cubicle is 2 ft longer than the ... The diagonal of the floor of a rectangular office cubicle is 2 ft longer than the ...
Video: Exercise and cardiac output & Definition of stroke volume

For a complete list of videos, visit our video library