The Sayonara Corporation Purchased a Notebook Computer for $3,000 on December

question 1

Multiple Choice

The Sayonara Corporation purchased a notebook computer for $3,000 on December 1.The useful life of the notebook computer is estimated to be 5 years.If financial statements are to be prepared on December 31, the company should make the following adjusting entry:

• A)debit Depreciation Expense, $600; credit Accumulated Depreciation, $600.
• B)debit Depreciation Expense, $50; credit Accumulated Depreciation, $50.
• C)debit Depreciation Expense, $2,400; credit Accumulated Depreciation, $2,400.
• D)debit Office Equipment, $50; credit Accumulated Depreciation, $50.

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Definitions:

Omnibus

An overarching term used to describe a single document or collection containing multiple individual items, often used in legal or legislative contexts.

ANOVA

Short for Analysis of Variance, a statistical method used to compare the means of three or more samples to understand if at least one of the sample means significantly differs from the others.

Level of Significance

The threshold below which a result is considered statistically significant, often denoted by alpha (α), commonly set at 0.05 or 5%.

F Statistic

A value calculated during the analysis of variance (ANOVA) used to determine whether the means of three or more groups are different.