Question 1 In its first month of operation, Solish Company made the purchases of merchandise in the following sequence: (1) 296 units at NT172, (2) 394 vnts NT$187, and (3) 204 units T8202 Splish uses a periodic inventory system Assuming there are 453 units on hand, compute the cost of the ending inventory under the puro method The cost of the ending inventory NTS Anuming there are 453 units on hand, compute the cost of the ending inventory under the warayn-cout method. (round average cost and final serwer to 2 decimai placa 29.1.25) the cost of the ending inventory NTS CALCULATOR PRINTER Question 2 Compute interest and find the maturity date for the following notes. (Round answers to decimal places, eg. 125.) Terme Interest (0) June 10 E162,000 49% 50 days (b) E130,000 5% 90 days July 14 April 27 10,800 296 75 days Questiona Riverbed plc incurs the following expenditures in purchasing a track cash price 53, 340, ocident Insurance 14,950, sales taxes 4,400, motor vehicle license C219, and painting and lettering 6740 What is the cost of the truck? Cost of the truck Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT AW CALCULATOR PRINTER Question 4 Ann Tremel has prepared the following list of statements about depreciation. Identity each statement as true or false. 1 4 5 Depreciation is a process of asset valuation, not cost allocation. Deprecation provides for the proper matching of expenses with revenues. The book value of a plant asset should approximate its fair value. Deprecation applies to three classes of plant assets: land, buildings, and equipment. Depreciation does not apply to a bullding because its usefulness and revenue-producing ability generally remain intact over time. The revenue-producing ability of a depreciable asset will decine due to wear and tear and to obsolescence. Recognizing depreciation on an asset results in an accumulation of cash for replacement of the asset The balance in accumulated depreciation represents the total cost that has been charged to expense. Depreciation expense and accumulated depreciation are reported on the income statement. Three factors affect the computation of depreciation cost, useful life, and residual value. 7. 8 9 10