Multiple Problems

For Help with Multiple Homework Problems, Ask an Expert

Ask an Expert,

Get an Answer ASAP!

Customer Question

1. DHL Express bought material...

1. DHL Express bought material handling equipment for its hub operations that cost $180,000. Using the MACRS, what's the depreciation expense in Year 3 (using a five-year class)?

A. $34,560

B. $43,560

C. $15,360

D. $40,000

2. Ted Williams made deposits of $500 at the end of each year for eight years. The rate is 8% compounded annually. What's the value of Ted's annuity at the end of eight years? (Use the tables found in the textbook.)

A. $5,318.30

B. $2,837.03

C. $4,318.30

D. $2,873.30

3. The balance sheet lists

A. assets, revenues, and equity.

B. assets, liabilities, and equity.

C. assets, liabilities, and expenses.

D. assets, revenues, and expenses.

4. ***** ***** bought a Scion car for $8,200, putting down $800 and financing the remainder with 60 monthly payments of $179.99. Using the tables found in your textbook, the APR by table lookup is

A. Between 16.00 and 16.25 percent

B. Close to 13½ percent

C. Close to 15 percent

D. Close to 14 percent

5. Points represent

A. an additional cost of receiving the mortgage.

B. 2% of the amount of the loan.

C. 3% up-front payment.

D. monthly payments.

6. Depreciation expense in the declining-balance method is calculated by the depreciation rate

A. times accumulated depreciation at year end.

B. divided by book value at beginning of year.

C. times book value at beginning of year.

D. plus book value at end of year.

7. Alice wants to know how much she'll have to invest today to receive an annuity of $10,000 for six years if interest is earned at 7% annually. She'll make all of her withdrawals at the end of each year. How much should she invest?

A. $55,800

B. $45,000

C. $47,665

D. $58,333

8. Achbar Corporation has earned $175,900 after tax. The accountant calculated the return on equity as 12.5%. Achbar Corporation's stockholders' equity to the nearest dollar is

A. $140,720,000.

B. $14,720.

C. $140,720.

D. $1,407,200.

9. For partial-years depreciation, if an asset is purchased on February 8, how many months' depreciation will be taken for the year?

A. 10

B. 9

C. 12

D. 11

10. In using horizontal analysis, comparative reports are

A. often used.

B. infrequently used.

C. always used.

D. never used.

11. Jamie purchased a condo in Naples, Florida, for $699,000. She put 20% down and financed the rest at 5% for 35 years. What are Jamie's total finance charges?

A. $606,823.20

B. $457,425.60

C. $626,863.20

D. $600,000.00

12. The average daily balance is equal to the sum of daily balances

A. minus number of days in the billing cycle.

B. multiplied by number of days in the billing cycle.

C. divided by number of days in the billing cycle.

D. plus number of days in the billing cycle.

13. Depreciation expense is located on the

A. balance sheet.

B. accounts receivable documentation.

C. income statement.

D. accounts payable documentation.

14. Marc bought a new split level for $200,000. Marc put down 30%. Assuming a rate of 11½% on a 30year mortgage, use the tables found in the textbook to determine Marc's monthly payment.

A. $1,387.40

B. $1,367.80

C. $1,982.00

D. $1,423.80

15. Cost of merchandise sold equals beginning inventory

A. minus net purchases minus ending inventory.

B. plus net purchases plus ending inventory.

C. plus net purchases minus ending inventory.

D. minus net purchases plus ending inventory.

16. What does an amortization schedule show?

A. The portion of payment broken down to interest and principal

B. The balance of interest outstanding

C. The increase to principal

D. The increase in loan outstanding

17. A compact minivan costs $16,000 with a residual value of $1,000. It has an estimated useful life of five years. If the minivan was bought on July 3, what would be the book value at the end of Year 1 using straight-line rate?

A. $16,000

B. $14,500

C. $1,500

D. $12,500

18. At the beginning of each year, Jerome invests $1,400 semiannually at 8% for nine years. Using the tables found in the textbook, determine the cash value of the annuity due at the end of the ninth year.

A. $38,739.68

B. $37,939.86

C. $37,399.68

End of exam

D. $37,339.68

19. In calculating the daily balance, cash advances are

A. always added in.

B. sometimes added in.

C. always subtracted out.

D. sometimes subtracted out.

20. An annuity due can use the ordinary annuity table if one extra period is added and

A. one payment is subtracted from total value.

B. three payments are subtracted from total value.

C. two payments are added to total value.

D. one payment is added to total value.

A. $34,560

B. $43,560

C. $15,360

D. $40,000

2. Ted Williams made deposits of $500 at the end of each year for eight years. The rate is 8% compounded annually. What's the value of Ted's annuity at the end of eight years? (Use the tables found in the textbook.)

A. $5,318.30

B. $2,837.03

C. $4,318.30

D. $2,873.30

3. The balance sheet lists

A. assets, revenues, and equity.

B. assets, liabilities, and equity.

C. assets, liabilities, and expenses.

D. assets, revenues, and expenses.

4. ***** ***** bought a Scion car for $8,200, putting down $800 and financing the remainder with 60 monthly payments of $179.99. Using the tables found in your textbook, the APR by table lookup is

A. Between 16.00 and 16.25 percent

B. Close to 13½ percent

C. Close to 15 percent

D. Close to 14 percent

5. Points represent

A. an additional cost of receiving the mortgage.

B. 2% of the amount of the loan.

C. 3% up-front payment.

D. monthly payments.

6. Depreciation expense in the declining-balance method is calculated by the depreciation rate

A. times accumulated depreciation at year end.

B. divided by book value at beginning of year.

C. times book value at beginning of year.

D. plus book value at end of year.

7. Alice wants to know how much she'll have to invest today to receive an annuity of $10,000 for six years if interest is earned at 7% annually. She'll make all of her withdrawals at the end of each year. How much should she invest?

A. $55,800

B. $45,000

C. $47,665

D. $58,333

8. Achbar Corporation has earned $175,900 after tax. The accountant calculated the return on equity as 12.5%. Achbar Corporation's stockholders' equity to the nearest dollar is

A. $140,720,000.

B. $14,720.

C. $140,720.

D. $1,407,200.

9. For partial-years depreciation, if an asset is purchased on February 8, how many months' depreciation will be taken for the year?

A. 10

B. 9

C. 12

D. 11

10. In using horizontal analysis, comparative reports are

A. often used.

B. infrequently used.

C. always used.

D. never used.

11. Jamie purchased a condo in Naples, Florida, for $699,000. She put 20% down and financed the rest at 5% for 35 years. What are Jamie's total finance charges?

A. $606,823.20

B. $457,425.60

C. $626,863.20

D. $600,000.00

12. The average daily balance is equal to the sum of daily balances

A. minus number of days in the billing cycle.

B. multiplied by number of days in the billing cycle.

C. divided by number of days in the billing cycle.

D. plus number of days in the billing cycle.

13. Depreciation expense is located on the

A. balance sheet.

B. accounts receivable documentation.

C. income statement.

D. accounts payable documentation.

14. Marc bought a new split level for $200,000. Marc put down 30%. Assuming a rate of 11½% on a 30year mortgage, use the tables found in the textbook to determine Marc's monthly payment.

A. $1,387.40

B. $1,367.80

C. $1,982.00

D. $1,423.80

15. Cost of merchandise sold equals beginning inventory

A. minus net purchases minus ending inventory.

B. plus net purchases plus ending inventory.

C. plus net purchases minus ending inventory.

D. minus net purchases plus ending inventory.

16. What does an amortization schedule show?

A. The portion of payment broken down to interest and principal

B. The balance of interest outstanding

C. The increase to principal

D. The increase in loan outstanding

17. A compact minivan costs $16,000 with a residual value of $1,000. It has an estimated useful life of five years. If the minivan was bought on July 3, what would be the book value at the end of Year 1 using straight-line rate?

A. $16,000

B. $14,500

C. $1,500

D. $12,500

18. At the beginning of each year, Jerome invests $1,400 semiannually at 8% for nine years. Using the tables found in the textbook, determine the cash value of the annuity due at the end of the ninth year.

A. $38,739.68

B. $37,939.86

C. $37,399.68

End of exam

D. $37,339.68

19. In calculating the daily balance, cash advances are

A. always added in.

B. sometimes added in.

C. always subtracted out.

D. sometimes subtracted out.

20. An annuity due can use the ordinary annuity table if one extra period is added and

A. one payment is subtracted from total value.

B. three payments are subtracted from total value.

C. two payments are added to total value.

D. one payment is added to total value.

Show More

Show Less

Was this answer helpful?

A new question is answered every 9 seconds

How JustAnswer works:

- Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
- Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
- 100% Satisfaction GuaranteeRate the answer you receive.

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.

JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.

Web sites like justanswer.com/legal

...leave nothing to chance.

...leave nothing to chance.

Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.

Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.

I will tell you that...the things you have to go through to be an Expert are quite rigorous.

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

Los Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

Hesperia, CA

I couldn't be more satisfied! This is the site I will always come to when I need a second opinion.

Kernersville, NC

Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around.

Woodstock, NY

Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know.

Elkton, Maryland

He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here.

Dallas, TX

< Previous | Next >

linda_us

Master's Degree

1,402 satisfied customers

A tutor for Business, Finance, Accounts and other related topics.

F. Naz

B.Com

5,450 satisfied customers

have completed B.Com and CA Finalist

Manal Elkhoshkhany

Bachelor's Degree

912 satisfied customers

Completed by BA degree in 1988 and graduated with a GPA of 4.0

Mr. Gregory White

Master's Degree

874 satisfied customers

M.A., M.S. Education / Educational Administration

Bizhelp

CPA

539 satisfied customers

BA degree and Certified Public Accountant

MyVirtualCPA

Master's Degree

155 satisfied customers

Master's degree holder who loves to help you understand your MC homework problems

Dimitry K., Esq.

Doctoral Degree

39 satisfied customers

JD/MBA, Business Attorney

< Previous | Next >

Related Multiple Problems Questions

Manal, Thank you for all your assistance so far. Can you

For Manal ElkhoshkhanyGood evening Manal,Thank you for all your assistance so far. Can you please help with these as well? This is due by Saturday, April 28, at 9am EST. Best regards, Stacy •Select on… read more

This is due on April 28, at 9am EST. Thanks! Stock Journal

For Manal ElkhoshkhanyThis is due on April 28, at 9am EST. Thanks!Stock JournalRecord the current price of the stock for each company you selected in Week 2's Stock Journal. You may use any price duri… read more

My husband and i are operating our farm as a sole proprietor

My husband and i are operating our farm as a sole proprietor (my name). My husband owes some taxes and pays on back child support, so I've always kept our finances, i.e. taxes, business finances, etc.… read more

Company was formed on December 1, 2010. The following

Steve Company was formed on December 1, 2010. The following information is available from Steve's inventory record for Product X. Units Unit CostJanuary 1, 2011 (beginning inventory) 1,500 $19.00Purch… read more

Calculated variances for the current month based on the

Calculated variances for the current month based on the given instructions and resources. … read more

I would like assistance with the following questions. These

Good evening,I would like assistance with the following questions. These are due on Tuesday by 8pm EST. Thank youUsing the following links to the Frontline video and then answer the following question… read more

How to request for a Price Quote in a letter form .. I need

How to request for a Price Quote in a letter form ..I need 5 diffident ways of requesting for a price quote… read more

Manal, The following is due on Saturday, April 21, at 9am

For Manal ElkhoshkhanyHi Manal, The following is due on Saturday, April 21, at 9am EST. Thanks. Complete the following homework scenario:•Bob and Lisa are both married, working adults. They both plan … read more

Manal, This is also due on Sat. April 21. Thank you! P11,

Hi Manal,This is also due on Sat. April 21. Thank you! P11, What is the present value of a loan that calls for the payment of $500 per year for six years if the discount rate is 10 percent andthe firs… read more

E. Manal, This is also due on Sat. April 21. Thank you!

For Manal E.Hi Manal,This is also due on Sat. April 21. Thank you!Complete the following from the textbook:•Chapter 9: P6, Determine the present values if $5,000 is received in the future (i.e., at th… read more

What are three main characteristics of liabilities, and why

What are three main characteristics of liabilities, and why is it important to classify liabilities into short-term and long-term? … read more

Do you have this answer with excel worksheet formulations?

Do you have this answer with excel worksheet formulations? … read more

P17- 17 Use a financial calculator or computer software

For Manal Elkhoshkhany P17- 17 Use a financial calculator or computer software program to answer the following questions: a.What is the present value of $359,000 that is to be received at the end of 2… read more

Manal, I have a few other upcoming assignments( please see

quot;For Manal Elkhoshkhany"Good evening Manal,I have a few other upcoming assignments( please see below) . Is it possible to have the below by Saturday morning at 9am EST? Thank youStacyIntro. to Fin… read more

Manal, I am reposting as suggested. E1- 1 Go to the Federal

For Manal ElkhoshkhanyHi Manal, I am reposting as suggested.E1- 1 Go to the Federal Reserve website, http://www.federalreserve.gov. Go to “Economic Research and Data,” and access “Consumer Credit.” Fi… read more

P5- 5 Find the present value of $7,000 to be received one

For Manal Elkhoshkhany P5- 5 Find the present value of $7,000 to be received one year from now, assuming a 3 percent annual discount interest rate. Also calculate the present value if the $7,000 is re… read more

I have a question: I do not understand and I am hoping that

I have a question: I do not understand and I am hoping that yo can help me understand it. The question is: Remaining balance off a mortgage is $150,000, interest rate of 8%, and remaining term of 10 y… read more

Suppose you have been hired as a financial consultant to

Suppose you have been hired as a financial consultant to Defense Electronics, Inc. (DEI), a large, publicly traded firm that is the market share leader in radar detection systems (RDSs). The company i… read more

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.