Hercules Company Purchased a Computer for $4,800 on December 1

question 33

Multiple Choice

Hercules Company purchased a computer for $4,800 on December 1. It is estimated that annual depreciation on the computer will be $960. If financial statements are to be prepared on December 31, the company should make the following adjusting entry:

• A) Debit Depreciation Expense, $960; Credit Accumulated Depreciation, $960.
• B) Debit Depreciation Expense, $80; Credit Accumulated Depreciation, $80.
• C) Debit Depreciation Expense, $3,840; Credit Accumulated Depreciation, $3,840.
• D) Debit Office Equipment, $4,800; Credit Accumulated Depreciation, $4,800.

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Definitions:

Demography

The statistical study of populations, including their size, distribution, and trends, as well as the factors influencing these elements.

Social Composition

The structure and demographic makeup of a society or social group, including aspects like age, gender, income level, and ethnicity.

Fertility Rates

The average number of children born to a woman over her lifetime within a specific population.

Kerala

A state in the southern part of India, known for its significant achievements in health, education, and social welfare.