In November 2019,Kendall Purchases a Computer for $4,000

question 64

Multiple Choice

In November 2019,Kendall purchases a computer for $4,000.She does not apply Sec.179 expensing or bonus depreciation.The computer is the only personal property which she places in service during the year.What is her total depreciation deduction for this year?

• A)$200
• B)$572
• C)$800
• D)$1,000

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Definitions:

Expenses

Costs incurred in the operation of a business; these are necessary for the company to generate revenues.

Financial Reports

Documents that provide an overview of a company's financial condition, including balance sheets, income statements, and cash flow statements, among others.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals that are equal indicating that the ledger accounts are properly balanced.

Residual Value

The estimated value that an asset will have at the end of its useful life.