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Author Question: Porter's Garage bought a new machine for 16,300. Shipping charges were 200 and the machine is ... (Read 141 times)

sam.t96

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on: Jun 24, 2018
Porter's Garage bought a new machine for 16,300. Shipping charges were 200 and the machine is expected to have a useful life of 4 years and a residual value of 1,500. Porter will use the 150 declining-balance method of depreciation. a. What is the beginning book value? b. What is the declining-balance rate? (Round to nearest tenth of a percent)

Question 2

CVS buys shampoo from a supplier with an invoice amount of 5,700. The terms of the sale are 5/20, n/30. What is the net amount due on the order if the bill is paid by the 20th day?


ilianabrrr

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

a. 16,500
b. 37.5

Answer to Question 2

5,415


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