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Llana [10]
3 years ago
12

Calculate how much each of the following items is worth in terms of today's dollars using 180 as the price index for today.

Business
1 answer:
Yuri [45]3 years ago
7 0

Answer:

A. $3

B. $257.142

C. $2.25

Explanation:

A. In 1925, the CPI was 18 and the price of a movie ticket was $0.30.

The current CPI is 180.

The price today will be

= \frac{Price}{CPI}\ \times\ Current\ CPI

= \frac{0.3}{18}\ \times\ 180

= $3

B. In 1930, the CPI was 14 and a cook earned $20 a week.

The current CPI is 180.

The price today will be

= \frac{Price}{CPI}\ \times\ Current\ CPI

= \frac{20}{14}\ \times\ 180

= $257.142

C.  In 1940, the CPI was 16 and a gallon of gas cost $0.20.

The current CPI is 180.

The price today will be

= \frac{Price}{CPI}\ \times\ Current\ CPI

= \frac{0.2}{16}\ \times\ 180

= $2.25

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Accumulated depreciation is the total depreciation of an asset and is recorded on the balance sheet while the depreciation expense is recorded on the income statement as an expense.

The depreciation expense is the difference between the accumulated depreciation at the end and the accumulated depreciation at the beginning. It is given as:

Depreciation expense = accumulated depreciation at the end - accumulated depreciation at the beginning = $10700 - $9300 = $1400

Depreciation expense = $1400

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Tomtit [17]

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