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1. DHL Express bought material handling equipment for its…

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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.
Submitted: 4 months ago.Category: Multiple Problems
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Customer reply replied 4 months ago
1. Which one of the following statements is true of preferred stock?
A. It never has a preference to dividends over common stockholders.
B. It can be cumulative.
C. It has equal rights to common stock.
D. It never receives dividends in arrears.
2. Today the price of a Jeep is $25,000. In 1970, the price was $5,000. What's the price relative?
A. $550
B. $600
C. $166
D. $500
3. Belle Co. has beginning inventory of 12 sets of paints at a cost of $1.50 each. During the year, the store purchased 7 at $3.00, 8 at $3.25, and 12 at $3.50. By the end of the year, 31 sets were sold. Using the LIFO method, the cost of ending inventory is
A. $3.50.
B. $12.00.
C. $28.00.
D. $21.00.
4. The weighted-average method is best used for
A. fuels only.
B. grains only.
C. heterogeneous products.
D. homogeneous products.
5. Determine the mode from the following numbers:
71, 3, 13, 33, 3, 71, 14, 33, 13, 33
A. 3
B. 33
C. 71
D. 13
6. Commissions charged on the trading of stock are
A. charged only on the buying of stock.
B. charged only on the sale of stock.
C. fixed.
D. charged on the buying and selling of stock.
7. The stock of Company X pays a dividend of $.88. The stock opened at $18.25 and closed at $18.33. The stock yield is
A. 4.8%
B. 4.2%
C. 4.9%
D. 4.1%
8. Mia's office building with a $300,000 value has a rating of 2 with a building classification of A. The contents in the building are valued at $120,000. Using the tables found in the textbook, the total annual premium for fire insurance is
A. $1,064.04.
B. $990.00.
C. $1,046.40.
D. $1,554.
9. The building of A-Boy Supply is assessed at $109,000. The tax rate is $86.95 per $1,000 of assessed valuation. The tax due is
A. $947.75.
B. $9,477.55.
C. $8,695.45.
D. $8,659.54.
10. During inflation, the best method to use in inventory valuation that produces the smallest amount of profit is
A. weighted average.
B. FIFO.
C. LIFO.
D. specific invoice.
11. An auto insurance premium may be partially based on the
A. expected life of the car.
B. make of the car.
C. number of years one expects to drive a car.
D. attitude of the driver.
12. A bond that closed today at 94 down 2 closed yesterday in dollars at
A. $960.
B. $940.
C. $930.
D. $950.
13. Find the mean for the following numbers and do not round your answer to the nearest whole number:
38, 18.05, 25, 26, 46
A. 21.45
B. 23.74
C. 30.61
D. 32.14
14. Becky bought a new Apple computer for $1,205. The purchase price included a 6% sales tax. What's the actual selling price of the computer?
A. $1,277.30
B. $1,200.00
C. $1,136.79
D. $1,132.08
15. Which of the following statements about the retail method is true?
A. It aids a company in not having to calculate an inventory cost for each individual item.
B. It doesn't require a cost ratio.
C. It eliminates the need to take a physical inventory.
D. It's not an estimate.
16. Myra bought 400 shares of Google at $399.75 per share. Assume a commission of 2% of the purchase price. What's the total to Myra?
A. $159,900
B. $163,980
C. $163,098
D. $156,702
17. 9.1% of a circle graph represents
A. 37.26°.
B. 45°.
C. 32.76°.
D. 42°.
18. Which one of the following statements is true about reduced paid-up insurance?
A. It continues for 20 years.
B. It means the original face amount is continued for a certain number of years.
C. It results in a face amount less than the original amount.
End of exam
D. It buys protection with paying new premiums.
19. The municipality of Rock Island needs $915,000 from property tax to meet its budget. The total value of assessed property in Rock Island is $14,000,000. What's the tax rate per dollar? (Round your answer to the nearest thousandth.)
A. $.071
B. $.0655
C. $.065
D. $.07
20. Usually, assessed value is rounded to the nearest
A. percent.
B. dollar.
C. cent.
D. tenth.
Answered in 3 hours by:
3/18/2018
Business Tutor: F. Naz, B.Com replied 4 months ago
F. Naz
F. Naz, B.Com
Category: Multiple Problems
Satisfied Customers: 5,482
Experience: have completed B.Com and CA Finalist
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Plesae mention your deadline, are these practice questions, thanks.

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Customer reply replied 4 months ago
Good morning, the deadline is Thursday March 22nd.
Business Tutor: F. Naz, B.Com replied 4 months ago

Are these practice questions, thanks.

Ask Your Own Multiple Problems Question
Customer reply replied 4 months ago
This are questions for tests that I need to take
Business Tutor: F. Naz, B.Com replied 4 months ago

Please accept the offer so the answers may be provided by or before your deadline, thanks.

Ask Your Own Multiple Problems Question
Customer reply replied 4 months ago
Can’t accep that offer
Please let another tutor help me
Business Tutor: F. Naz, B.Com replied 4 months ago

opting out so other experts may help you, take care.

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