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Author Question: Jay's Sport Shop purchased new shelving and display cases costing 48,000. The installation charges ... (Read 213 times)

rosent76

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on: Jun 24, 2018
Jay's Sport Shop purchased new shelving and display cases costing 48,000. The installation charges were 4,000 and they expect a residual value of 8,000 after 5 years. Jay will use the double-declining-balance method of depreciation. a. What is the amount of total depreciation? b. What will the book value of the cases be at the end of 5 years?

Question 2

Price Company received an invoice in the amount of 3,800 dated May 24 for merchandise they purchased. The terms of the sale are 3/15, 2/30, n/45. What payment should be made if the invoice is paid on June 20?


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katkat_flores

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

a. 44,000
b. 8,000

Answer to Question 2

3,724


rosent76

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

sarah_brady415

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

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