Ryan Company Purchased a Machine on July 1, 2011

question 55

Multiple Choice

Ryan Company purchased a machine on July 1, 2011. The machine cost $250,000 and has a salvage value of $10,000 and a useful life of eight years. The adjusting entry for the year ending December 31, 2012, would include a debit to Depreciation Expense of

• A) $30,000.
• B) $15,000.
• C) $31,250.
• D) $15,625.

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Definitions:

Behavioral Decision Model

A framework describing how individuals make decisions based on their perceptions, attitudes, and possible behaviors.

Basic Differences

Fundamental dissimilarities between entities or concepts that distinguish them from one another.

Nonprogrammed Decisions

Choices responding to unique scenarios that are not clearly defined, mostly unstructured, and carry significant implications for the organization.

Programmed Decisions

Decisions that are routine and repetitive, often made using standard methodologies or procedures.