Probs_Answers_Review3

Probs_Answers_Review3 - Ch 10 Item Ans Item Ans Item Ans...

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Ch. 10 Item Ans. Item Ans. Item Ans. Item Ans. Item Ans. Item Ans. Item Ans. 21. d 39. d 51. d 57. a 22. b 52. c 58. d 23. d 24. c 36. a 25. c 31. d 37. b 26. c 32. d 38. b Item Ans. Item Ans. Item Ans. Item Ans. 106. a 110. a 66. d $60,000 + $55,000 = $115,000. 72. c $400,000 × .10 = $40,000. 73. b $120,000 (3/12 + 2/12 + 1/12) = $60,000. 74. a $180,000 (3/12 + 2/12 + 1/12) = $90,000. 75. d ($900,000 × 4/12) + ($504,000 × 3/12) + ($900,000 × 2/12) + ($1,440,000 × 1/12) = $696,000. 80. c $11,600 + $200 = $11,800. 81. c ($30,000 × .85 × .98) + $400 + $300 = $25,690. 82. b $12,000 + $500 = $12,500. 86. b Fair market value of new truck = $36,000. Loss: ($36,000 – $30,000) – $4,000 = $2,000. New Machine: $8,000 + $30,000 – $2,000 = $36,000. 87. b $13,300 + $45,500 = $58,800. 97. b ($300,000 – $180,000) × [$30,000 ÷ ($30,000 + $270,000)] = $12,000. 98. d $270,000 – $285,000 = ($15,000). 99. c [($160,000 – $10,000) ÷ 5] × 4 1/3 = $130,000 ($160,000 – $130,000) + $3,000 = $33,000. 100. c [($320,000 – $20,000) ÷ 5] × 4 1/3 = $260,000 ($320,000 – $260,000) + $6,000 = $66,000. 106. a ($5,400,000 – $450,000) – $3,600,000 = $1,350,000 (deferred gain) $5,400,000 – $1,350,000 = $4,050,000 (Basis). 110. a $150,000 + $20,000 = $170,000. Item Ans. Item Ans. Item Ans. Item Ans. Item Ans. Item Ans. Item Ans. PDF created with pdfFactory Pro trial version www.pdffactory.com
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Ch. 11 Item Ans. Item Ans. Item Ans. Item Ans. Item Ans. Item Ans. Item Ans. Item Ans. Item Ans. Item Ans. Item Ans. Item Ans. Item Ans. Item Ans. 55.c $100,000 – $10,000 = $90,000. 56. c $200,000 – $20,000 = $180,000. 57. b [$200,000 – $10,000) ÷ 10,000] × 1,100 = $20,900. 58. c $150,000 × [(1 ÷ 8) × 2] = $37,500 ($150,000 – $37,500) × [(1 ÷ 8) × 2] = $28,125. 64. b [$69,000 – ($69,000 × 0.4)] × 0.4 = $16,560. 66. b $2,100,000 – [($2,100,000 – $75,000) × (9/45 + 8/45)] = $1,335,000. 70. b (AC – $15,000) × 7/55 = $70,000 AC = $565,000. 74. a ($320,000 – $20,000) ÷ 12 =$25,000 ($390,000 – $30,000) ÷ 10 =36,000 ($225,000 – $15,000) ÷ 6 = 35,000 $935,000 $96,000 $96,000 ————— = 10.27 $935,000 75. a ($300,000 + $360,000 + $210,000) ÷ $96,000 = 9.1. 79. c $420,000 – [$420,000 – $42,000) 3/9] = $294,000 ($294,000 – $70,000) ÷ (5 – 3) = $112,000. 84. b [($400,000 ÷ 10) × 6] – $96,000 = $144,000 new (AD) $440,000 – $144,000 = $296,000 (BV) ($296,000 – $20,000) ÷ 8 = $34,500 per year. 85. c $360,000 – $240,000 = $120,000. 87. c [($3,400,000 – $200,000 + $1,000,000) ÷ 2,000,000] × 400,000 = $840,000. 91. d $1,250,000 ÷ [($900,000 + $1,100,000) ÷ 2] = 1.25 92. c $250,000 ÷ [($900,000 + $1,100,000) ÷ 2] = 25% 102. b Conceptual. PDF created with pdfFactory Pro trial version www.pdffactory.com
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