9 Betty earns $18 per hour and time-and-a-half for each hour over 40 hours. If Betty worked 44 hours this week, what was her gross pay? 5 0 10 40*18+1.5*18*4=828 11 Wilson purchased a $100,000 building, with estimated salvage value of $10,000 and a life of 5 years. If Wilson uses straight line depreciation, what is the accumulated depreciation after two years of using the asset? Show calculations 12 6 0 13 Dana borrows $3,000 for 3 years at 6% interest with annual payments. Calculate Dana's payment: 7 0 14 15 Jack sells equipment with cost of $12,000, and accumulated depreciation of $9,000. If the equipment is sold for $5,000, Jack has a (gain or loss?), of $ 16 8 0 17 Tim is thinking about investing in a 3-year, $5,000 annuity. How much should Tim pay for this annuity if he desires a rate of return of 8%? Calculations: 9 0 18 19 both When making payroll calculations, the accountant must remember that FICA (Social Security) taxes are paid by (employer or employee or both?) and that unemployment taxes are paid by (employer or employee or both?). 10 1 two conditions =IF(AND(COUNTIF(A20,"*"&"both"&"*"),COUNTIF(A20,"*"&"emp 20 both employer 21 Clayton Corporation purchased equipment for $10,000. The equipment had a 4 year life with $1,000 salvage value. What is the book value of this equipment after two years? (Use SL depreciation) 2250 11 1 SL here? 22 23 Lancer purchased 22,000 shares of its $1.00 par common stock for $12 per share, as treasury stock. What effect will this purchase have on the stockholders' equity of Lancer? Will stockholders' equity increase or decrease, and by how much? 24 no effect, decrease by 264000 12 1