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FBLA Business Calculations Test
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FBLA Business Calculations Test
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25 Questions

1. Jamie Carson bought 100 shares of stock for $52.89 per share. The company paid annual dividends of $0.38 per share. What is the total annual yield?
2. Calculate the average daily balance for the month of June of a revolving credit account with a previous month's balance of $150.00 and the following activity: Purchase on June 4: $40; Payment on June 8 of $75; Purchase on June 12 of $42.18; Credit on June 15 of $18; and Purchase on June 27 of $102.30.
3. The price of a sofa was reduced by 23 percent. If the amount of the reduction was $174.56, what was the original price of the sofa?
4. Your bank statement shows a balance of $528.55; your checkbook shows a balance of $210.95. You determine three checks are outstanding in the amounts of $55.25, $38.75, and $129.60 and that a deposit of $97 was not recorded on your check register. The bank statement also shows a $3 service charge. What is your reconciled balance?
5. Molly Wilson provides child care in her home. She charges $5 per hour per child. On Tuesday, she cared for Amy for 3 hours, Christopher for 4 hours, Bailey for 6 hours, and Preston for 4 hours. What was her total pay?
6. Crystal Britt's credit card company charges an APR of 21 percent applied at a monthly periodic rate on the previous balance. Crystal's December statement showed: previous balance, $397.90; new purchases, $341.80; fees, $55; payments, $500; and purchase returns, $56.99. What is her finance charge for December?
7. Juan Philips received his bank statement that shows a balance of $6,456.44. He has two outstanding deposits: $450.22 and $566.98. He has six outstanding checks: $22.00, $45.78, $99.32, $10.00, $6.78, and $55.45. What is his reconciled bank statement balance?
8. What is the maturity value of a loan for $25,000, at 11 percent interest for 2
9. Jeremy Deaton purchased a home with a $78,500 mortgage at 9 percent for 15 years. What is the balance of the principal after the first monthly payment of $796.78?
10. What is the value of the ending inventory using the LIFO method?
11. To show data changing over time, use:
12. The unemployment rate in a certain town is 5.4. If there are 52,634 people comprising the labor force in the town about how many people are out of work?
13. Sandy owns a retail store. She added the following TVs over several months:
14. Gerald earns an annual salary of $51,600. He is required to work overtime as needed for which he is paid time and a half. This month he worked 28 hours overtime. What is his gross salary for the month with 22 working days?
15. Charles Brady works for a company that uses a percentage method to compute the income tax withheld. Brady is single and claims two allowances. The weekly withholding for each allowance is $55.77. He earns $780 a week. Find the amount of income tax withheld.
16. Which of the following percents have a value greater than 1?
17. Super Office Supplies offers its retail customers a chain discount of 20/10/5 on its $30.95 cases of printer paper. What is the net price?
18. What is the usual overtime rate for employees who work more than 40 hours in a given week?
19. Your Social Security tax rate is 6.2% and Medicare rate is 1.45%. If your gross earnings are $1,750, what are your total Social Security and Medicare taxes?
20. Jason's car originally cost $9,000. He estimates that the car will depreciate $1,500 the first year. What is the rate of depreciation for the first year?
21. Hometown Bank (HB) has a revenue of $220,250 and expenses of $210,250. HB's total assets equal $171,500 and liabilities equal $100,000. Calculate HB's return on assets (ROA).
22. Michael Garguilo purchased a house for $225,000. He put $30,000 down on the house. Total finance charges over the course of the 30-year loan equal $135,106. What was Michael's monthly payment?
23. Calculate the inventory turnover ratio using the LIFO method.
24. Kyleigh deposited $250 in a savings bank that pays 4 percent interest annually. What amount will she have on deposit at the end of 12 months?
25. What is the biweekly amount of gross pay for a corporate accountant with an annual salary of $50,000?

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