Introduction to Data Analytics for Accounting 1st Edition by Vernon Richardson Solution manual

2. The lab presumes the depreciation expense for the year 2022. If we replace “2023”
for “2022” in cell B1, we can compute the depreciation expense for the year 2023.
Take a screenshot of the depreciation schedule for 2023 and label it “Lab 1-2 Alt
Submission 2.jpg”.
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Lab 1-2 Alt Multiple Choice Questions
1. What is the 2022 double-declining balance depreciation expense for conveyer oven 1?
a. $2,304
b. $1,550
c. $2,255
d. $1,843
2. What is the total depreciation expense using sum-of-the-years’ digits for 2022?
a. $5,479
b. $5,620
c. $4,160
d. $4,610
3. Which asset has $1,300 straight line depreciation expense in 2022?
a. Conveyer Oven 2
b. Freezer
c. Reach-In Refrigerator
d. Conveyer Oven 1
4. Which asset has $43 sum-of-the-year’s digit’s depreciation in 2023?
a. Dough mixer
b. Delivery bags
c. Work table
d. Dough prep equipment
Richardson, Terrell, Teeter – Introduction to Data Analytics for Accounting, 1 st Edition – Chapter 1
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5. Which assets have zero double declining balance depreciation in 2023?
a. Work table, hot holding cabinet 1 and pizza prep table
b. Work table, hot holding cabinet 2 and assorted utensils
c. Dough mixer, hot holding cabinet 2 and assorted utensils
d. Dough mixer, hot holding cabinet 1 and pizza prep table
Lab 1-3 Solution
Lab 1-3 Submission
1. Take a screenshot of the top 20 lines of your 360-month amortization schedule and
label it “Lab 1-3 Submission.jpg”.
Richardson, Terrell, Teeter – Introduction to Data Analytics for Accounting, 1 st Edition – Chapter 1
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Lab 1-3 Multiple Choice Questions
1. What is the amount of interest paid in monthly payment number 25?
a. $974.68
b. $975.80
c. $972.43
d. $973.56
2. What is the amount that goes toward paying down principal in monthly payment
number 20?
a. $218.89
b. $217.80
c. $219.99
d. $980.21
3. What is the amount of ending principal after the 359 th monthly payment?
a. $1,193.14
b. $0
c. $5.97
d. $2,380.33
4. What is the amount of ending principal after the 360 th monthly payment?
a. $0
b. $1,193.14
c. $5.97
d. $2,380.33
5. What would be the monthly payment for a $200,000 mortgage loan for 360 months,
and at 7% annual interest?
a. $1,330.60
b. $1,199.10
c. $14,000.00
d. $1,064.48
Alt Lab 1-3 Submission
1. Take a screenshot of the top 20 lines of your 180-month amortization schedule and
label it “Lab 1-3 Alt Submission 1.jpg”.
Richardson, Terrell, Teeter – Introduction to Data Analytics for Accounting, 1 st Edition – Chapter 1
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2. Take a screenshot of the top 20 lines of your 96-month amortization schedule and label
it “Lab 1-3 Alt Submission 2.jpg”.
Richardson, Terrell, Teeter – Introduction to Data Analytics for Accounting, 1 st Edition – Chapter 1
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Lab 1-3 Alt Multiple Choice Questions
1. What would be the monthly payment for 180 months, 6% annual interest and a
$200,000 loan?
a. $1,687.71
b. $3,314.58
c. $1,199.10
d. $1,064.48
2. What would be the monthly payment for 72 months, 6% annual interest and a $200,000
loan?
a. $3,314.58
b. $1,687.71
c. $1,199.10
d. $1,064.48
Richardson, Terrell, Teeter – Introduction to Data Analytics for Accounting, 1 st Edition – Chapter 1

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3. For the 180-month mortgage, what is the amount that goes toward paying down
principal in monthly payment number 20?
a. $756.07
b. $759.04
c. $931.64
d. $752.31
4. For the 72-month mortgage, what is the amount of interest expense in monthly