If a Fixed Asset, Such as a Computer, Were Purchased $\quad 100$

question 161

Short Answer

If a fixed asset, such as a computer, were purchased on January 1 for $3,750 with an estimated life of three years and a salvage or residual value of $150, the journal entry for monthly expense under straight-line depreciation is a. Depreciation Expense $\quad 100$
$\quad$ Accumulated Depreciation $\quad 100$
b. Depreciation Expense $\quad 1,200$
$\quad$ Accumulated Depreciation $\quad 1,200$
c. Accumulated Depreciation $\quad 1,200$
$\quad$ Depreciation Expense $\quad 1,200$
d. Accumulated Depreciation 100
$\quad$ Depreciation Expense $\quad$$\quad$ 100

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Definitions:

Unemployment Rate

The proportion of the workforce that is unemployed and actively looking for work.

Slope

The measure of the steepness or incline of a line, indicating the rate at which y changes with respect to x in a coordinate system.

Nonlinear

Referring to a relationship or process that cannot be accurately described by a straight line, indicating complex interactions.

Negatively Sloped

Characteristic of a line or curve on a graph that moves downward from left to right, indicating an inverse relationship between two variables.