Unkar Co receives terms of 210 n30 on all invoices from Plutt Industries On

# Unkar co receives terms of 210 n30 on all invoices

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9.Unkar Co. receives terms of 2/10, n/30 on all invoices from Plutt Industries. On January 15, 2018, Unkar purchased items from Plutt for \$4,200, excluding taxes and shipping costs. What amount would Unkar use as the purchase discount if the invoice was paid on January 28, 2018?A)\$ 0B)\$ 84C)\$4,116D)\$4,200Use the following information to answer questions 10 through 12Sales revenue300 units at \$15 per unitPurchases240 units at \$10 per unitBeginning inventory120 units at \$9 per unit10. What is the value of the cost of goods sold as determined by the FIFO method?11. What is the value of the ending inventory as determined by the FIFO method?12. What is the value of the gross profit as determined by the LIFO method?3
13. On January 1, 2016, Leia Company purchased a truck at a cost of \$12,000. The truck had an estimated useful life of four (4) years and a salvage value of \$2,000. The amount of depreciation expense for 2017assuming use of double-declining balance depreciation is:A) \$6,000B) \$3,000C) \$1,500D) \$1,00014. Luke, Inc., purchased equipment that cost \$14,000 on January 1, 2016. The equipment had an estimated useful life of four (4) years and an estimated salvage value of \$2,000. Assuming Luke uses straight-line depreciation, the depreciation expense and the accumulateddepreciation presented in the financial statements for the calendar year 2017 would be:Depreciation ExpenseAccumulated Depreciation15. Ewok Enterprises purchased a truck that cost \$48,000. The company expected to drive the truck 200,000 miles. The truck had an estimated salvage value of \$2,000. If the truck is driven 36,000 miles in the current accounting period, depreciation expense using the units-of-production method would be:16. C-3PO Company owned an asset that had cost \$24,000, and was sold on January 1, 2018, for \$8,000, when accumulated depreciation was \$18,000. Based on this information:17. Which of the following is false? A)Current liabilities are those that will be satisfied within one year or the operating cycle,whichever is longer. B)Liquidity is the ability of the company to meet its total obligations. C)Current liabilities impact a company's liquidity. D)Working capital is equal to current assets minus current liabilities. 4

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