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Can you answer these Accounting 101 multiple choice questions? ammat'the end of the year determined b I I Y a Ph 3' i m. ems

Can you answer these Accounting 101 multiple choice questions?

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ammat'the end of the year determined b I I Y a Ph 3' i m. ems 375,000, $7,000 IS held on consigannlta] i 52' A truck With 3 Mt Mmgm k We! mpw rted as a current asset on the balance sheet at i an eStimated me Of4 M at "imam ' depreciation for the second will you, it ' twice the straight-line rate? ' a. $15,000 4 ' l b. 316250 m l c. $30,000 X d. $32,000 0- fine Why value ofa $50 000 90 d X 6' $34'000 a , - a , 100 a. 391 250 y A) note paYable 15 t 53. A corporation using the periodic inventory system hm li 351900 i balances: Merchandise Inventory at the beginning dm m, r .--' 6- M8 750 Freight-ln, $650; Purchases, $10,700; Purchases Return" , $l,950; and Purchases Discounts, $330. The cost of r- equal to a. $12,670 m. A mm . , puter With a cost of $65 and . ,000 has an e t' . b. $9,070 dEpIZZiZtsiinhiiiii me F'" years or 15,000 hJatiiertual Value 0f$5,000 c. $s,420 ,. . . e units-of- d ' ' em 15 to be d. $17 230 deprecmnon for th pro uction method wh t . k , . e second full . a IS the amount of e. $13,755 employed spa? hours? / year, during Which the computer Was ix 1 l 54. The inventory data for a particular NFL team jersey for mit-nm gi November are as follows: 3:- $2QOOO May 1 Inventory 20 units @ asa ' ' gz'1'667 May 5 Sold 15 units e' MS'OOO May 10 Purchased 30 units @ 35'5 "' Bout May 20 Sold 30 units . pment With a cost of $1 60 000 M 29 Purchased 20 units @ W ' J h ay md an "mated "fe 0f4 Years or 1235 an estlmated reSIdual value 0f$10 000 ' What is the cost of the merchandise inventory of 25 ' jersey on hand November 30m by the last-in, first- 21 if the eriodic inventor s stem is employed

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