Author Question: Clear Restorations purchased a floor machine for 10,520. Delivery costs totaled 1,250. The salvage ... (Read 107 times)

savannahhooper · **on:** Jun 24, 2018

Clear Restorations purchased a floor machine for 10,520. Delivery costs totaled 1,250. The salvage value is 1,350 after 8 years. Using the straight-line depreciation method, calculate the book value at the end of year 5.
A) 1,302.50
B) 5,257.50
C) 6,512.50
D) 7,525.50

Question 2

Tamara Muldoon received an invoice dated October 25th with terms of 2/10, n/30 EOM. If Tamara wishes to pay the bill on the last day of the discount period, what date would she pay the invoice?
A) December 10
B) November 30
C) November 4
D) November 10