Lima Enterprises Purchased a Depreciable Asset for $22,000 on April

question 21

Multiple Choice

Lima Enterprises purchased a depreciable asset for $22,000 on April 1,Year 1.The asset will be depreciated using the straight-line method over its four-year useful life.Assuming the asset's salvage value is $2,000,Lima Enterprises should recognize depreciation expense in Year 2 in the amount of:

• A)$10,000
• B)$5,000
• C)$5,500
• D)$20,000
• E)$9,250

---

Definitions:

Autobiographical Memories

The aspect of memory that pertains to recollections of personal experiences that occurred at specific times and places in one's life.

Deese/Roediger-McDermott Paradigm

A psychological experiment method demonstrating how easy it is to induce false memories by presenting lists of related words and later suggesting a word not actually presented.

Autobiographical Memories

Memories of one's own life experiences, encompassing both episodic (specific events) and semantic (general knowledge and facts about one’s life) components.