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Unformatted text preview: 70-122 Fall 2007 Name_______________Introduction to Accounting Section_____________Professor Nan Quiz 4Instructions: This is a close-book, close-notes quiz. You are allowed to use a non-programming calculator. There are two required parts with totally 100 points (Part I and II). Partial credits will be awarded for Part II. Make sure your name and section are legible and your answer is neatly presented.Part I: Circle the right answer (30 points, 6pt each)1. Which depreciation method may result in increasing depreciation charges over time?A. Straight-line B. Unit of ProductionC. Sum-of-years-digit D. Double Declining2. Huana Co. purchased a vehicle for business use. The price of the vehicle is $50,000, sales tax is $3,000, freight charge is $500, and insurance for transit is $400. Since Huana Co. is located in Pittsburgh and the managers are fans of Steelers, Huana paid $700 to paint the vehicle in yellow and black. The estimated useful life of this vehicle is 5 years and salvage value is $1,000. Using and black....
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This note was uploaded on 04/09/2008 for the course ACC 70122 taught by Professor Nam during the Fall '07 term at Carnegie Mellon.
- Fall '07