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##### (Solved) (Latest ver. Aug 2020) - Multiple choice

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Question:

If Reneta's CDs purchases a new cash register for \$2,700 and plans to use it for three years before disposing of it for an estimated \$300, how much depreciation will Renata recognize the first year under the double-declining-balance method?

a.\$1,800

b.\$ 900

c.\$1,600

d.\$ 800

Tanner owns and operates a kite store. He buys kites for \$15 each. He pays a commission for each kite sold of \$3. His advertising costs are \$2 per kite. If Tanner sells the kite for \$30, how much net income will he make per kite?

a.\$ 8

b.\$10

c.\$13

d.\$28

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This question was answered on: Sep 16, 2020

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