On January 1, 2007, the Accumulated Depreciation-Machinery Account of a Particular

question 20

Multiple Choice

On January 1, 2007, the Accumulated Depreciation-Machinery account of a particular company showed a balance of $370,000.At the end of 2007, after the adjusting entries were posted, it showed a balance of $395,000.During 2007, one of the machines which cost $125,000 was sold for $60,500 cash.This resulted in a loss of $4,000.Assuming that no other assets were disposed of during the year, how much was depreciation expense for 2007?

• A)$85,500
• B)$93,500
• C)$25,000
• D)$60,500

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Definitions:

Deindividuation

A psychological state where an individual loses self-awareness and a sense of individuality, often in group settings, leading to uninhibited and sometimes deviant behavior.

Sociocultural

Relating to the combined social and cultural factors that influence an individual or community.

Developmental Problem

Issues affecting growth, development, or psychological functioning of an individual, often recognized in childhood.

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The process of moving a family unit from one dwelling place to another, often for reasons related to employment, housing, or lifestyle changes.