Page 8 - SOLUTIONS TO PRACTICAL APPLICATION FNSACC313 V3 .doc
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Perform Financial Calculations
Calculate the mark-down price of the following goods.
ITEM ORIGINAL PRICE REDUCTION MARK DOWN PRICE
Top Cote 550 $225.00 $16.50 $208.50
Spray Plaster $1,150.00 $37.85 $112.15
Cornice Adhesive $192.50 $26.95 $165.55
Robalcote $2,765.00 $468.40 $2296.60
Casting Plaster $800.00 $185.00 $615.00
PERCENTAGES
PRACTICAL APPLICATION 1
Find the amount to depreciate each of the following items.
ITEM VALUE DEPRECIATION DEPRECIATION
RATE VALUE
Epson Printer $9091.00 25% $2272.75
Sanyo TV $876.00 18% $718.32
Sigma Wagon $5,200.00 30% $3640.00
Canon Copier $17,560.00 14.25% $15057.70
Toyota Hilux $22,540.00 15% $19159.00
PRACTICAL APPLICATION 2 SOLUTIONS
Find the amount of taxation to be paid by each of the following employees.
EMPLOYEE WAGES RATE OF TAX AMOUNT
OF TAX
H Wilson $1026.58 25% $256.64
M Howard $754.90 33.33% $251.61
B Canton $432.87 48% $207.78
I M Reader $265.00 22% $58.30
P Bradley $1,327.57 45% $597.41
GST
PRACTICAL APPLICATION 1
Find the GST on these figures, then show the total purchase price including GST.
PRODUCT GROSS PRICE (no GST) GST TOTAL PRICE
Plaster $100.00 $10.00 $110.00
Cornice $45.00 $4.50 $49.50
Back Mesh $44.00 $4.40 $48.40
Battens $31.90 $3.19 $35.09
Gyprock $230.95 $23.10 $254.05
Anne Bowden ©2020
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