Questions 7 Through 10 Are Based on the Following Information

question 78

Multiple Choice

Questions 7 through 10 are based on the following information:
Tongas Company applies revaluation accounting to plant assets with a carrying value of $1,600,000, a useful life of 4 years, and no salvage value. Depreciation is calculated on the straight-line basis. At the end of year 1, independent appraisers determine that the asset has a fair value of $1,500,000.
-The journal entry to record depreciation for year one will include a

• A) debit to Accumulated Depreciation for $400,000.
• B) debit to Depreciation Expense for $100,000.
• C) credit to Accumulated Depreciation for $100,000.
• D) debit to Depreciation Expense for $400,000.

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Definitions:

Refractory Theory

A concept in neuroscience that suggests after a neuron has fired, there is a period during which it cannot fire again.

Delta Waves

Brain waves detected by electroencephalography that are associated with deep sleep and brain activity during meditation.

Beta Waves

The brain wave pattern associated with mental activity.

Alpha Waves

Brain waves detected via EEG that are associated with relaxed, wakeful states, typically present during meditation and light sleep.