Vanderet's Computer Business Owns Computer Equipment Which Cost $3,240 and Has

question 153

Multiple Choice

Vanderet's Computer Business owns computer equipment which cost $3,240 and has an expected useful life of three years. No residual value is expected. At the company's year end, December 31, the equipment's book value is $2,520. In what month was thecomputer purchased using the straight-line depreciation method?

• A)August
• B)January
• C)March
• D)June
• E)M ay

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Definitions:

General Partner

An owner of a partnership who has unlimited liability and is involved in the day-to-day management of the business.

Law

A system of rules created and enforced through social or governmental institutions to regulate behavior.

Medical Practices

Medical practices refer to the professional businesses or establishments operated by one or more physicians or medical professionals to provide healthcare services to patients.

Firms

Businesses or companies engaged in commercial, industrial, or professional activities.